Market Update for Bellingham Condos
The Bellingham condo market was fairly slow week. Only 3 condos pended over the course of the week. The average price of condos that pended was $275,282 ($218/sq.ft.). 2 of the pending condos were located in north Bellingham and 1 condo was located in Fairhaven.
DR Horton’s The Reserve at Cordata
DR Horton’s The Reserve at Cordata had a big week. They had 6 condos closed sales this week. The Reserve at Cordata - Maples, which pended in June of 2007 was recently completed and finally closed this week. The average price of those townhouse style condos was $200,138 ($156/sq.ft.)
Cottage Creek Condos in Bellingham
11 new condos were listed with an average price of $277,277 ($190/sq.ft.) However, 5 of these 11 new condos were Cottage Creek conversions. The average price of the newly listed Cottage Creek condos was $118,000 (184/sq.ft.) Cottage Creek is an interesting condominium complex. Originally built in the late 1970’s as apartment buildings, Cottage Creek is now being converted into condominiums.
Condo Conversions
Converting apartment buildings to condominiums has become a popular practice over the last few years. Most of the work necessary in completing a condo conversion occurs in writing the Condominium Declaration and Bylaws, as well as the Public Offering Statement. It is important to hire an attorney experienced in condo conversions when undertaking a project of this scope.
Ryan Martin, e-Pro®, Realtor® - 360-319-0040
Your Bellingham Real Estate Professional | Bellingham Washington Real Estate
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