Bellingham Real Estate Market Report for March, 2010

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

  • Currently Active Listings: 549
  • Price range of active listings – $94,500 – $3,600,000
  • Average List Price $474,123 Days on the Market: 107
  • Median List Price: $369,000 Days on the Market: 61
  • Sold in March: 70
  • Average List Price: $290,267
  • Average Sales Price: $282,052 Days on the Market: 75
  • Ratio of List to Price 97.1%
  • Median List Price: $249,900
  • Median Sales Price: $249,500 Days on the Market: 31
  • Ratio of List to Price: 99.8%
  • Pending Sales Last Week: 34 Total pending sales: 139
  • Average Sales Price March, 2009: $357,671
  • Median Sales Price March, 2009: $319,900
  • Sold in March, 2009: 55

The Average Sales price is down 21.1% compared to March, 09 and down 3.9% compared to the previous month February, 2010.

The Median Sales prices is down 22.0% compared March, 09 and down $500 compared to the previous month February, 2010.

The number of sales is up 15 compared to March, 2009 and up 24 compared to the previous month February, 2010.

Condo Analysis for Bellingham

  • Currently Active Listings: 267
  • Price range of active listings – $99,900 – $1,395,000
  • Average List Price $248,189 Days on the Market: 163
  • Median List Price $175,00 Days on the Market: 145
  • Sold in March: 18
  • Average List Price: $283,660
  • Average Sales Price: $275,853 Days on the Market: 79
  • Ratio of List to Price: 97.2%
  • Median List Price: $177,000
  • Median Sales Price: $172,128 Days on the Market: 35
  • Ratio of List to Price: 97.2%
  • Pending Sales Last Week: 9 Total pending sales: 45
  • Average Sales Price March, 2009: $195,619
  • Median Sales Price March, 2009: $169,500
  • Sold in March, 2009: 16

Average Condo sale price is up 41.0% from March, 2009 and down 3.8% from the previous month – February, 2010.

Median Sales Price is up 1.5% from March, 2009 and up 18.5% from the previous month –  February, 2010.

The number of sales is up 2 compared to March, 2009 and  up 6 compared to the previous month  – February, 2010.

If you look at the graph you can see that the  residential  market price is still heading down a bit. , but if you take a look at the condo prices they are just a bit below the residential prices. There were 2 million dollar plus sales that brought the average condo price up.

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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