Bellingham Real Estate Market Report for Jan, 2008

By
Real Estate Agent with eXp Realty

Real Estate Market Report/Conditions for Bellingham, WA for January, 2008

The following is a quick analysis of the Residential Bellingham real estate market by Michael Eisenberg of Fairhaven Realty.

  • Currently Active Listings: 517 Average List Price $466,386   Days on the Market:  117
  • Sold in January: 59
  • Average Sales Price: $360,724
  • Average List Price: $376,931
  • Ratio of List to Price: 95.6%
  • Average Days on the Market: 93
  • Median Sales Price: $299,950
  • Median ListPrice: $299,950
  • Ratio of List to Price: 100%
  • Pending Sales Last Week: 30

  Condo Analysis for Bellingham

  • Currently Active Listings: 303 Average List Price $285,121     Days on the Market:  246
  • Sold in January: 33
  • Average Sales Price: $237,564
  • Average List Price: $240,363
  • Ratio of List to Price: 99.5%
  • Average Days on the Market: 216
  • Median Sales Price: $197,500
  • Median List Price: $198,900
  • Ratio of List to Price: 99.3%
  • Pending Sales Last Week: 6

Buyers: Interest rates are still low making now is a good time to get in the market. There are plenty of homes to choose from and lots 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
  • Hava 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 real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call. 

 

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