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.
