Whatcom County 2011 Year End Real Estate Stat Report

Below are the 2011 year end statistics for homes in Whatcom County. The first section covers all Whatcom County homes that were actively listed for sale. The second section covers all Whatcom County homes that actually sold.

                          Whatcom County Active Listings Stats – all MLS zones.

New Listings for the month of Dec – 111 units in ’11 vs 141 units in ’10 – Down 21.3%

YTD Totals - New Listings – 3,471 units in ’11 vs 3,978 units in ’10 – Down 12.7%

Month of Dec Total Active Listings – 1,042 in ’11 vs 1,209 in’10 – Down 13.8%

YTD Totals - Average List Price - $382,706 in ’11 vs $392,988 in ’10 – Down 2.6%

Month of Dec Average List Price – $385,074 in ’11 vs $373,747 in ’10 – Up 3.0%

YTD Totals Median List Price - $289,900 in ’11 vs $309,900 in ’10 – Down 6.5%

Month of Dec Median List Price - $285,000 in ’11 vs $288,800 in ’10 – Down 1.3%

Ave Days on Market – 143 days in ’11 to 136 days in ’10 – Up 5.1%

As you can see, the word on the street is only partially accurate. It's true that prices are down but 2.6% for the year isn't too bad compared to many areas. However, the street talk about the market being flooded with inventory is merely a perception. In actuality inventories are significantly down.

                                           All of Whatcom County Sold Homes

Month of Dec # of homes sold – 147 units in ’11 vs 152 units in ’10 – Down 3.3%

YTD Number of Homes Sold – 1,840 units in ’11 vs 1,844 units in ’10 – Dn less than 1%

Month of Dec Ave Sold Price - $248,144 in ’11 vs $301,983 in ’10 – Down 17.8%

YTD Average Sold Price - $272,443 in ’11 vs $284,724 in ’10 – Down 4.3%

Month of Dec Med. Sold Price - $225,000 in ’11 vs $255,000 in ’10 – Down 11.8%

YTD Med. Sold Price - $241,500 in ’11 vs $250,000 in ’10 – Down 3.4%

Market time with from 110 days in ’11 vs 101 days in ’10 – Up 8.9%

With regards to homes sold in Whatcom County, prices are down 4.3% however it is a good sign that the number of Whatcom County homes sold in 2011 was almost the same as 2010. Thus with a stable number of homes selling and a shrinking inventory, prices should begin to rise sometime this year.