Bellingham Real Estate Market Report for April, 2009

By
Real Estate Agent with eXp Realty

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

 Bellingham Real Estate - Resisential Graph

  • Currently Active Listings: 518
  • Price range of active listings - $145,000 - $3,450,000
  • Average List Price $523,011      Days on the Market: 115
  • Median List Price: $399,900       Days on the Market: 69
  • Sold in April: 71
  • Average List Price: $354,483 
  • Average Sales Price: $336,159 
  • Ratio of List to Price: 94.8%      Days on the Market: 123
  • Median List Price: $309,500 
  • Median Sales Price: $308,000     Days on the Market: 80
  • Ratio of List to Price: 98%
  • Pending Sales Last Week: 107     Total pending sales: 155
  • Average Sales Price April 2008: $376,136
  • Median Sales Price April 2008: $298,475
  • Number Sold in April, 2008: 79

     The Average Sales price is down 10.6% compared to April 08 and down 1% compared to last month March 09.

    The Median Sales prices is up 3.2% compared to April 08 and up 5.1% compared to March 09.

    The number of sales is up down by 8 or 10% compared to April 08 and up by 16 or 29% compared to last month March 09.

    The Bellingham Real Estate Market is still relatively strong compared to most of the nation. Prices look to be on the upswing as we come into spring, especially in the condo market. Bellingham Real Estate Graph

  • Condo Analysis for Bellingham

    Bellingham Real Estate Condo Graph

    • Currently Active Listings: 277
    • Price range of active listings - $99,000 - $1,565,000
    • Average List Price $266,155     Days on the Market: 202
    • Median List Price $199,900       Days on the Market: 101
    • Sold in April: 17
    • Average List Price: $255,951
    • Average Sales Price: $249,244
    • Ratio of List to Price: 97.3% Days on the Market: 135
    • Median List Price: $239,000 
    • Median Sales Price: $235,000 
    • Ratio of List to Price: 98.3% Days on the Market: 78
    • Pending Sales Last Week: 19      Total pending sales: 32
  • Average Sales Price April, 2008: $216,655
  • Median Sales Price April, 2008: $190,655
  • Sold in April, 2008: 30

     Average Condo sale price is up 15.0% from April 2008 and down 12% from last month - March 2009

    Median Sales Price is down 10,5% from April 2008 and up 38.6% from last month - March 2009

    The number of condo sales is down by 13 or 43% compared to April 2008 and up by 1 or 7.3% compared to last month - March 2009. 

    There are still some great values in the Bellingham market right now, and interest rates are still extremely low. 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.

    There is also a newly passed First Time Home Buyer's Tax Credit of $8,000 available to anyone who hasn't owned a home in the past 3 years. You might want to talk to your banker to see what you can afford.

    Sudden Valley Real Estate Market Report

    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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    Rainmaker
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    Steven L. Smith
    King of the House Home Inspection, Inc. - Bellingham, WA
    Bellingham WA Home Inspector

    Michael,

    It had been slower but, just in the past few days, the phone is going crazy. I am hoping that things are trending upwards.

    May 05, 2009 07:03 AM #1
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    Rainmaker
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    Michael Eisenberg

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    Want to find the most affordable homes in Bellingham?
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