Bellingham Real Estate Market Report for October, 2008

Real Estate Market Report/Conditions for Bellingham, WA for October, 2008

The following is a quick analysis of the Residential Bellingham real estate market.

  • Currently Active Listings: 532
  • Price range of active listings – $114,900 – $3,575,000
  • Average List Price $531,534 Days on the Market: 118
  • Median List Price: $399,000 Days on the Market: 98
  • Sold in October: 66
  • Average List Price: $317,503
  • Average Sales Price: $305,045
  • Ratio of List to Price: 96% Days on the Market: 101
  • Median ListPrice: $301,875
  • Median Sales Price: $292,000 Days on the Market: 70
  • Ratio of List to Price: 97%
  • Pending Sales Last Week: 15

Condo Analysis for Bellingham

  • Currently Active Listings: 239
  • Price range of active listings – $99,900 – $1,565,000
  • Average List Price $306,673 Days on the Market: 239
  • Median List Price $223,500 Days on the Market: 184
  • Sold in October: 317
  • Average List Price: $260,108
  • Average Sales Price: $237,057
  • Ratio of List to Price: 97% Days on the Market: 105
  • Median List Price: $185,900
  • Median Sales Price: $179,000
  • Ratio of List to Price: 96% Days on the Market: 60
  • Pending Sales Last Week: 7

Buyers: Interest rates are still low making now may be a good time to get in the market, depending on your circumstances. There are still plenty of homes to choose from and many homes have been on the market a long time so there are some motivated sellers out there who need to sell their homes.

Sellers: There is still a lot of competition right now and if you don’t want your home to sit on the market without an offer here are a few bits of advise:

  • The most important thing you can do is price your home right, have your real estate agent do a CMA and price your home aggressively, that is in the lower range of similar homes if you want a quick sale
  • Have a pre-inspection done to your home and fix any problems
  • Give your home curb appeal
  • Offer a Home Warranty if it is an older home
  • Get rid of clutter, start clearing out your things, even if you have to put them in storage.
  • Think about staging your home, get advise from a staging professional or at least your agent.

If you would like some info about Bellingham real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call.

Advertisements