Bellingham Real Estate Market Report for October, 2009

By
Real Estate Agent with eXp Realty

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

Bellingham Real Estate Stats

  • Currently Active Listings: 468
  • Price range of active listings - $124,900 - $4,500,000
  • Average List Price $506,950 Days on the Market: 118
  • Median List Price: $379,450 Days on the Market: 85
  • Sold in October: 76
  • Average List Price: $339,339
  • Average Sales Price: $329,072 Days on the Market: 98
  • Ratio of List to Price: 97.0%
  • Median List Price: $273,450
  • Median Sales Price: $273,750 Days on the Market: 50
  • Ratio of List to Price: 100%
  • Pending Sales Last Week: 19 Total pending sales: 169
  • Average Sales Price October 2008: $305,045
  • Median Sales Price October 2008: $292,000
  • Number Sold in October 2008: 66

The Average Sales price is up 7.9% compared to October 08 and up 8.2% compared to the previous month September 09.

The Median Sales prices is down by 6.3% compared October 08 and up 5.3% compared to the previous  September 09.

The number of sales is up by 10 compared to October 2008 and down by 6 compared to the previous month September 09.

Condo Analysis for Bellingham

Bellingham Real Estate Stats

  • Currently Active Listings: 262
  • Price range of active listings - $103,738 - $1,565,000
  • Average List Price $228,986 Days on the Market: 143
  • Median List Price $184,900 Days on the Market: 102
  • Sold in October: 35
  • Average List Price: $207,320
  • Average Sales Price: $201,597 Days on the Market: 148
  • Ratio of List to Price: 97.2%
  • Median List Price: $185,000
  • Median Sales Price: $179,300 Days on the Market: 93
  • Ratio of List to Price: 96.9%
  • Pending Sales Last Week: 3Total pending sales: 27
  • Average Sales Price October, 2008: $237,257
  • Median Sales Price October, 2008: $179,000
  • Sold in October, 2008: 17

Average Condo sale price is down 15.0% from October 2008 and down 5.9% from the previous month - September 2009

Median Sales Price is $300 or .2 %up from October 2008 and down 6.8% from the previous month - September 2009.

The number of sales is up by 18 compared to October 2008 and up by 9 compared to the previous month September 09.

Bellingham Real Estate Stats

If you look at the graph you can see that prices the  residential market has taken a bit of a rise.  Where will the graph go next month is anybody's guess. Will the roller coaster ride of prices continue?........Tune in next month

Great news the  First Time Home Buyer's Tax Credit of $8,000 available to anyone who hasn't owned a home in the past 3 years has been extended until April 2010.  The new program will also expand the tax credit to include existing home owners who have owned a home for at least five of the last 8 years will be able to apply for tax credits of up to $6,500 when they purchase their next home.You might want to talk to your banker to see what you can afford.Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. 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.

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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Kim Southern- "Sold" with Southern Hospitality
Century 21 In the Mountains - Ellijay, GA
Greetings from the North Georgia Mountains!

Michael: Beautifully presented anyalysis! Great use of graphics and detailed explanations! Sounds like Bellingham is picking up a bit. I hope that is translating into more business for you!

Nov 18, 2009 01:19 AM #1
Rainmaker
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Steven L. Smith
King of the House Home Inspection, Inc. - Bellingham, WA
Bellingham WA Home Inspector

Michael,

I finally got around to checking this out. Thanks for the information, very helpful in figuring out how one is doing.

Nov 18, 2009 12:10 PM #2
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Rainmaker
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Michael Eisenberg

Bellingham Real Estate Guy
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