Bellingham Real Estate Market Report for May, 2008

By
Real Estate Agent with eXp Realty

 

Real Estate Market Report/Conditions for Bellingham, WA for May, 2008

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

  • Currently Active Listings: 675
  • Average List Price $504,264   Days on the Market:  101
  • Median List Price: $379,000   Days on the Market:   66
  • Sold in May: 79
  • Average List Price: $350,531 
  • Average Sales Price: $344,042
  • Ratio of List to Price: 98.1%    Days on the Market: 127
  • Median ListPrice: $309,950
  • Median Sales Price: $300,000   Days on the Market: 63
  • Ratio of List to Price: 98.6%
  • Pending Sales Last Week: 23

  Condo Analysis for Bellingham

  • Currently Active Listings: 328
  • Average List Price $276,026   Days on the Market:  179
  • Median List Price $214,900    Days on the Market:  92
  • Sold in May: 32
  • Average List Price: $210,866
  • Average Sales Price: $205,436   Days on the Market: 186
  • Ratio of List to Price: 97.4%
  • Median List Price: $204,975
  • Median Sales Price: $198,975   Days on the Market: 129
  • Ratio of List to Price: 97.1%
  • Pending Sales Last Week: 21

Buyers:Interest rates are still low making now is a good time to get in the market. There are still 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. More homes will most likely be coming on the market in the coming months as spring and summer arrive.

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
  • Have 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 Bellingham real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call. 

 

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Michael Eisenberg

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