Bellingham Real Estate Market Report for December, 2009

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

Bellingham Real Estate Statistics

  • Currently Active Listings: 405
  • Price range of active listings – $90,000 – $3,450,000
  • Average List Price $472,24090 Days on the Market: 135
  • Median List Price: $378,000 Days on the Market: 97
  • Sold in December: 72
  • Average List Price: $341,735
  • Average Sales Price: $328,616 Days on the Market: 85
  • Ratio of List to Price96.1%
  • Median List Price: $288,000
  • Median Sales Price: $280,000 Days on the Market: 62
  • Ratio of List to Price: 97.2%
  • Pending Sales Last Week: 15 Total pending sales: 97
  • Average Sales Price December 2008: $323,399
  • Median Sales Price December 2008: $259,000
  • Number Sold in December 2008: 49

The Average Sales price is up 1.6% compared to December 08 and down 12.1% compared to the previous month November 09.

The Median Sales prices is up 8.1% compared December 08 and down 1.9% compared to the previous  November 09.

The number of sales is up by 23 compared to December 2008 and down by 15 compared to the previous month November 09.

Bellingham Real Estate Statistics

Condo Analysis for Bellingham

Bellingham Real Estate Statistics

  • Currently Active Listings: 233
  • Price range of active listings – $109,900 – $1,565,000
  • Average List Price $244,603 Days on the Market: 158
  • Median List Price $183,000 Days on the Market: 156
  • Sold in December: 19
  • Average List Price: $198,700
  • Average Sales Price: $193,038 Days on the Market: 114
  • Ratio of List to Price: 97.1%
  • Median List Price: $164,900
  • Median Sales Price: $164,000 Days on the Market: 73
  • Ratio of List to Price: 99.5%
  • Pending Sales Last Week: 9 Total pending sales: 23
  • Average Sales Price December, 2008: $200,792
  • Median Sales Price December, 2008: $184,900
  • Sold in December, 2008: 17

Average Condo sale price is down 3.8% from December  2008 and down 3.4% from the previous month – November 2009

Median Sales Price is down 18.3% from December 2008 and down 6.3% from the previous month – November 2009.

The number of sales is down 2 compared to December 2008 and  up 4 compared to the previous month November 09.

Bellingham Real Estate Statistics

Bellingham Real Estate Statistics

If you look at the graph you can see that prices the  residential market have gone up in the first part of the year than took a dip, climbed back up and took a dip again in December. Condos went up and pretty much came down. Will the roller coaster ride of prices continue?……..Tune in next month

Homes under $300,00 have been selling well and it seems like the higher end of the market which has been pretty stagnant is starting to move again as well. The absorption rates have gone down meaning number of  homes sold per month over a particular period of time has gone down. The number of months to sell is a reflection of the absorption rate, how long it will take to sell the current inventory at the said absorption rate.

Will the roller coaster ride of prices continue?……..Tune in next month

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

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