Weekly Review of Bellingham’s Real Estate Market 2/10/08 - 2/16/08
This week in Bellingham, 23 new homes were listed with an average price of $400,143 and a median price of $319,500. It appears as though the level of new inventory has stabilized in Bellingham. Over the last several weeks the number of homes coming on the market had been rising. A healthy market in Bellingham can absorb 20 new listings weekly, but when that number gets pushed to 30 and beyond the market runs the risk of over saturation.
In regard to the Bellingham foreclosure watch, 2 new foreclosure homes did come on the market this week. Bellingham has been averaging 1 new foreclosure a week since the beginning of 2008. While no foreclosures are good, an average of one new foreclosure a week in Bellingham is negligible considering the current state of the national real estate market.
Homes Pending and STI in Bellingham
17 homes pended this week in Bellingham. The average price of pending home sales was $365,868 with a median price of $289,900. The average days on market was 66 days. It is great to see 17 homes go pending in one week in Bellingham. This is very healthy sign for the local real estate market. It is also good to see the number of days on market drop from 90 to 66 since the beginning of the year.
Homes Sold in Bellingham this Week
This week 14 homes sold in Bellingham. The average closed sale price was $270,039, while the average listing price of these homes was $278,177 (97% list price ratio to sales price ratio). The average days on market for the sold homes this week was 74 days.
Your Bellingham Real Estate Professional | Bellingham WA Real Estate
Search all Bellingham Homes for Sale
Comments(1)