Bellingham Real Estate Market Report for February, 2009

By
Real Estate Agent with eXp Realty

Bellingham Real Estate Market Report for February, 2009

The following is a quick analysis of the Residential Bellingham real estate market.

Bellingham Real Estate - Resisential Graph

  • Currently Active Listings: 475
  • Price range of active listings - $103,900 - $3,575,000
  • Average List Price $531,882      Days on the Market: 129
  • Median List Price: $399,900       Days on the Market: 94
  • Sold in February: 38
  • Average List Price: $370,062
  • Average Sales Price: $333,514
  • Ratio of List to Price: 90.1%      Days on the Market: 189
  • Median List Price: $287,250
  • Median Sales Price: $279,500    Days on the Market: 45
  • Ratio of List to Price: 97.3%
  • Pending Sales Last Week: 24     Total pending sales: 114

 

  • Average Sales Price February 2008: $366,515
  • Median Sales Price February 2008: $294,950
  • Sold in February: 49
  •  The Average Sales price is down 9.0% compared to February 08 and up 13.9% compared to January 09.

    The Median Sales prices is down 5.1% compared to February 08 and down 2.8% compared to January 09.

    The number of sales is down by 11 or 29% compared to Febrtuary 08 and down by 1 or 2.6% compared to last month.

     

    Condo Analysis for Bellingham

    Bellingham Real Estate Condo Graph

    • Currently Active Listings: 265
    • Price range of active listings - $99,900 - $1,565,000
    • Average List Price $277,732    Days on the Market: 204
    • Median List Price $205,000       Days on the Market: 94
    • Sold in February: 13
    • Average List Price: $235,732
    • Average Sales Price: $224,849
    • Ratio of List to Price: 97.2% Days on the Market: 157
    • Median List Price: $220,000
    • Median Sales Price: $209,500
    • Ratio of List to Price: 95.2% Days on the Market: 162
    • Pending Sales Last Week: 6       Total pending sales: 26
  • Average Sales Price Feb 2008: $244,051
  • Median Sales Price Feb 2008: $198,901
  • Sold in February 2008: 36
  •  

    Average Condo sale price is down 6.8% from February 2008 and up 4.7% from last month - January 2009

    Median Sales Price is down 8.9% from February 2008 and up 13.3% from last month - January 2009

    The number of condo sales is down by 23 or 63 % compared to February 2008 and down by 10 or 43% compared to last month - January 2008 

    There are some great values in the Belingham market right now, and interest rates are still extremely low. You might want to take a look at what it would cost you to purchase one of these homes at today's rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.

    There is also a newly passed First Time Home Buyer's Tax Credit of $8,000 available to anyone who hasn't owned a home in the past 3 years. You might want to talk to your banker to see what you can afford.

    Whatcom County Real Estate Market Report

    Sudden Valley Real Estate Market Report

    Blaine Real Estate Market Report

    Lynden Real Estate Marke Report 

    Ferndale Real Estate Market Report  

    If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981

     

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    Rainmaker
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    Teri Eckholm
    Boardman Realty - White Bear Lake, MN
    REALTOR Serving Mpls/St Paul North & East Metro

    Michael--Your pie charts give consumers an easy way to visualize what is happening in your market. Good job! Consumers in the Bellingham area must love working with someone so knowledgeable!

    Mar 05, 2009 11:43 PM #1
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    Michael Eisenberg

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