The following is an analysis of the Whatcom County real estate market.
- There are currently 1221 homes for sale
- Homes are priced from $15,000 – $4,500,000
- Average Asking Price $405,519 Days on Market: 151 days
- Median Asking Price $320,000 Days on Market: 112 days
- Homes sold in December: 168
- Average Listing Price $306,316
- Average Sold Price $286,867 Days on Market 110
- Median Listing Price $255,4500
- Median Sold Price $247,750 Days on Market: 78
- Homes Pending this week: 33 Total Homes Pending: 277
- Average Sales Price December 2008: $303,077
- Median Sales Price December 2008: $257,500
- Sold in December 2008: 115
The Average Sales price is down 5.3% compared to December 08 and down 9.8% compared to last month.
The Median Sales prices is down 3.8% compared to December 08 and down 1.9% compared to last month.
The number of sales is up by 53 compared to December 08 and up by 36 compared to last month.
Condo Analysis for Whatcom County
- Currently Active Listings: 351
- Price range of active listings – $22,000 – $1,565,000
- Average List Price $232,883 Days on Market: 177
- Median List Price $184,316 Days on Market: 152
- Sold in December: 28
- Average Listing Price $190,818
- Average Sold Price $184,538 Days on Market: 112
- Median Listing Price $164,950
- Median Sold Price $159,635 Days on Market: 71
- Condos Pending (went under contract) last week: 6 Total Condos Pending: 41
- Average Sales Price December 2008: $205,532
- Median Sales Price December 2008: $192,925
- Sold in December 2008: 22
The Average Sales price is down 10.2% compared to December 08, and down by 9.8% compared to last month.
The Median Sales prices is down by 17.1% compared to December 08 and down by 18.8% compared to last month.
The number of sales is up by 6 compared to December 08 and up by 3 compared to last month.
Looks like the market activity started picking up a bit to the end of the year, I think the $8000 tax credit for first-time homebuyers to help stimulate the market this year. The number of foreclosures is increasing as well as the number of short sales. Predictions are we will see more of both of these in 2010. The higher end of the market started to pick up at the close of the year as well. Although the exception rates are still relatively high at the higher end of the market they have come down considerably from the beginning of the year and last year.
The First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010. The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.
If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981