Bellingham Real Estate Market Report for January, 2010

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

  • Currently Active Listings: 443
  • Price range of active listings – $90,000 – $3,450,000
  • Average List Price $475,444 Days on the Market: 124
  • Median List Price: $379,000 Days on the Market: 86
  • Sold in January: 28
  • Average List Price: $347,966
  • Average Sales Price: $336,964 Days on the Market: 73
  • Ratio of List to Price 96.8%
  • Median List Price: $276,950
  • Median Sales Price: $267,000 Days on the Market: 63
  • Ratio of List to Price: 96.4%
  • Pending Sales Last Week: 22 Total pending sales: 108
  • Average Sales Price January 2000: $294,064
  • Median Sales Price January 2009: $287,500
  • Number Sold in January 2009: 38

The Average Sales price is up 14.5% compared to January 09 and up 2.5% compared to the previous month December 09.

The Median Sales prices is down 6.2% compared January 09 and down 2.8% compared to the previous  December 09.

The number of sales is down 10 compared to January 2009 and down 44 compared to the previous month December 09.


Condo Analysis for Bellingham

  • Currently Active Listings: 241
  • Price range of active listings – $105,000 – $1,565,000
  • Average List Price $236,703 Days on the Market: 146
  • Median List Price $179,900 Days on the Market: 181
  • Sold in January: 11
  • Average List Price: $257,509
  • Average Sales Price: $244,455 Days on the Market: 120
  • Ratio of List to Price: 97.1%
  • Median List Price: $229,900
  • Median Sales Price: $219,000 Days on the Market: 89
  • Ratio of List to Price: 99.5%
  • Pending Sales Last Week: 4 Total pending sales: 27
  • Average Sales Price January, 2009: $210,200
  • Median Sales Price January, 2009: $209,500
  • Sold in January, 2009: 23

Average Condo sale price is up 16.2% from January 2009 and up 26.6% from the previous month – December 2009

Median Sales Price is up 4.7% from January 2009 and up 33.5% from the previous month – December 2009.

The number of sales is down 22 compared to January 2009 and  down 8 compared to the previous month  – December 09.

If you look at the graph you can see that the  residential and condo market prices  have taken a slight up tick.

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

Homes under $300,00 have been selling well and itt 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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