Bellingham Real Estate Market Report – January 2019

By
Real Estate Agent with eXp Realty


To see the extensive Bellingham Real Estate Market Report for January - Click Here
Here’s a quick look at the Bellingham Real Estate Market Report for January 2019 for residential home sales.
The number of residential sales for the month was 57 that is 9 less than January 2018 and 2 more than last month.
The Average sales price of $512,397 is up 3% compared to last December and down 3% 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 104 homes for sale the day I write this. Any home priced right is still snapped up quickly often with multiple offers. There are only 7 homes on the market under $300,00 and as of today the least expensive home on the market is $124,900 for a manufactured home near Emerald Lake. 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
1,001,185
Gloria Todor
Century 21 Absolute Realty - Springfield, PA
& Doug Durren (484) 431-3686 in SE PA

Michael, A good report for people in Bellingham to keep track of things.  Liked your testimonial video.

All the best in 2019.

Feb 11, 2019 03:09 PM #1
Rainer
364,957
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

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

Feb 11, 2019 08:32 PM #2
Rainmaker
746,757
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Good report and like your starter infographic. We are starting to see more properties come to market, and those priced right are selling quickly.

Feb 14, 2019 11:28 AM #3
Rainmaker
3,076,173
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Michael and great marketing report for buyers and sellers in your area and us here in the rain.

Feb 17, 2019 07:18 AM #4
Rainmaker
573,867
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

Thanks for sharing the snapshot market report for Belllingham real estate. Anyone interested in buying or selling in your area should contact you. By the way, love your caricature. :-)

Feb 19, 2019 09:35 AM #5
Rainmaker
1,851,898
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Michael - nice job on the market report with a super infographic.

Mar 12, 2019 11:25 AM #6
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Rainmaker
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Michael Eisenberg

Bellingham Real Estate Guy
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