Real Estate Market Report/Conditions for Bellingham, WA for October, 2008
The following is a quick analysis of the Residential Bellingham real estate market.
- Currently Active Listings: 532
- Price range of active listings - $114,900 - $3,575,000
- Average List Price $531,534 Days on the Market: 118
- Median List Price: $399,000 Days on the Market: 98
- Sold in October: 66
- Average List Price: $317,503
- Average Sales Price: $305,045
- Ratio of List to Price: 96% Days on the Market: 101
- Median ListPrice: $301,875
- Median Sales Price: $292,000 Days on the Market: 70
- Ratio of List to Price: 97%
- Pending Sales Last Week: 15
Condo Analysis for Bellingham
- Currently Active Listings: 239
- Price range of active listings - $99,900 - $1,565,000
- Average List Price $306,673 Days on the Market: 239
- Median List Price $223,500 Days on the Market: 184
- Sold in October: 17
- Average List Price: $260,108
- Average Sales Price: $237,057
- Ratio of List to Price: 97% Days on the Market: 105
- Median List Price: $185,900
- Median Sales Price: $179,000
- Ratio of List to Price: 96% Days on the Market: 60
- Pending Sales Last Week: 7
Buyers: Interest rates are still low making now may be a good time to get in the market, depending on your circumstances. There are still plenty of homes to choose from and many homes have been on the market a long time so there are some motivated sellers out there who need to sell their homes.
Sellers: There is still a lot of competition right now and if you don't want your home to sit on the market without an offer here are a few bits of advise:
- The most important thing you can do is price your home right, have your real estate agent do a CMA and price your home aggressively, that is in the lower range of similar homes if you want a quick sale
- Have a pre-inspection done to your home and fix any problems
- Give your home curb appeal
- Offer a Home Warranty if it is an older home
- Get rid of clutter, start clearing out your things, even if you have to put them in storage.
- Think about staging your home, get advise from a staging professional or at least your agent.
If you would like some info about Bellingham real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call.
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