Bellingham Real Estate Market Report for December 2018

By
Real Estate Agent with eXp Realty

 To see the extensive Bellingham Real Estate Market Report for December - Click Here

Here’s a quick look at the Bellingham Real Estate Market Report for December 2018 for residential home sales.
The number of residential sales for the month was 55 that is 27 less than December 2018 and 12 less than last month.
The Average sales price of $532,587 is up 6% compared to last December and up  7% from last month.

The number of homes for sales went down last month, there are now 2.1 months of inventory on the market, (if no new homes came on the market and sales rate was same as it is today, they would all be sold in 2.1 months).   The number is still pretty small relative to years past.

There is still not much new construction in single-family homes.

Inventory is shrinking again as it usually does in the winter months. There are 110 homes for sale the day I write this. Any home priced right is still snapped up quickly often with multiple offers. There are only 10 homes on the market under $300,00 and as of today the least expensive home on the market is $134,00 for a manufactured home near Emerald Lake lot. This is making it extremely difficult for first-time buyers, not to mention interests rates are rising.

There are still buyers out there today looking for new homes but there is still a limited amount of homes for them to choose from.

Yes, multiple offers are still common in this market for any desirable home that is priced right.

Interest rates are slightly on the rise again, and my guess is they will continue to rise.

Buyer’s, get a pre-approval letter from your lender ready to submit along with your offer if you are in a competitive market that may change soon.

If you don’t have it yet, start gathering the documents you will need to get one, which is usually 2 years of tax returns and 2 or 3 months of pay stubs. Check with your preferred lender or let me know if you need a recommendation to a good lender.

Want to learn more about the market let’s talk! If you have any questions or want to see any Bellingham Real Estate feel free to email me or give me a call at 360-739-6981

Click Here to find the Value of Your Home

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Rainmaker
3,172,699
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael, what a great detailed Market Report, I hope you are helping with those listed and sold statistics, Endre

Jan 18, 2019 10:20 PM #1
Rainer
357,197
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties sold.

Jan 19, 2019 02:35 PM #2
Rainmaker
4,796,451
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Michael.  Thanks for keeping us updated about the Bellingham  WA real estate market.

 

Jan 29, 2019 06:30 AM #3
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Rainmaker
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Michael Eisenberg

Bellingham Real Estate Guy
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