Economic Forecast for Whatcom County Real Estate

This morning I attended the Whatcom County Chamber of Commerce Economic Forecast Breakfast Meeting at the Bellingham Country Club.  The event was well attended by the movers and shakers in our community.  Thought I would share some of the HIGHLIGHTS regarding Whatcom County's Real Estate Market:

Inventory:

In the last 12 months 2610 houses sold in Whatcom County, compared to 2775 in 2006.  (A modest 6% decline)

We have a very healthy 6 month inventory prior to what is traditionally the best 2 selling months of March an April approaching!!

Permitting is down 25% which means fewer new homes are on the horizon so inventories will reduce through 2008 and 2009.  In turn, our market will become even more balanced and stable!

 Revenue:

The last 12 months generated $878 million dollars JUST IN HOME SALES.

2006 generated 918 million dollars in home sales.

A 6.4 drop in unit sales resulted in only a 4.3% drop in revenue!

Our urban growth restrictions have the condo market rising as developers seek higher density-infill projects.

 BEST NEWS OF ALL was the USA Today Story that listed Bellingham as the #2 city in the nation for stability in our economy.  (That is ALL CITIES...large and small!!!)  WOW!!!

We also have the Canadian's strong dollar sending our Northern neighbors down to 'The States' to buy that amenity house they have always wanted.

I love, love, love, love, LOVE Whatcom County!

If you think you would like to own a slice of it, I will be happy to help you!

Live good. Be happy. Live in Whatcom County!!!

-Mimi

Mimi Osterdahl / The Muljat Group Realtors / Bellingham, Washington / www.LiveGoodBeHappy.com

2008 President, Northwest Washington Women's Council of Realtors

 

 

 

 

 

3 Comments on Economic Forecast for Whatcom County Real Estate

Mimi, Thanks for being so positive and reminding us to keep our eye on the prize! I agree it's a good thing the permitting madness has subsided. Hopefully some spec builders will drift off leaving room for more appropriate homes built with sustainability in mind will take their place! Susan

02/29/2008 07:08 PM by Loannetter

Mimi, areas of Washington state, Portland, OR and Charlotte are weathering the real estate downturn the best. So something must be right in your area.

02/29/2008 09:26 PM by Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty)

Hello again Mimi - I guess this kind of answers my last question.  Looks like the Canadians are down helping out.

03/01/2008 09:23 PM by HOPE Lending LLC

Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Mimi Osterdahl, Bellingham Washington Realtor (The Muljat Group, Bellingham Washington)
Mimi Osterdahl, Bellingham Washington Realtor
Bellingham, WA
More about me…
The Muljat Group, Bellingham Washington

Office Phone: (360) 650-5479
Cell Phone: (360) 220-6787
Email Me
Live Good. Be Happy. ..."A Fresh Approach To Real Estate." "Go into the world and do well. But, more importantly, go into the world and do GOOD." -Minor Myers Jr.

Links

Tags (Tag Cloud)

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find WA real estate agents and Bellingham real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved