May 5, 2009

Bellingham Real Estate Market Report for April, 2009

Bellingham Real Estate - Resisential Graph

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

  • Currently Active Listings: 518
  • Price range of active listings - $145,000 - $3,450,000
  • Average List Price $523,011 Days on the Market: 115
  • Median List Price: $399,900 Days on the Market: 69
  • Sold in April: 71
  • Average List Price: $354,483
  • Average Sales Price: $336,159
  • Ratio of List to Price: 94.8% Days on the Market: 123
  • Median List Price: $309,500
  • Median Sales Price: $308,000 Days on the Market: 80
  • Ratio of List to Price: 98%
  • Pending Sales Last Week: 107 Total pending sales: 155
  • Average Sales Price April 2008: $376,136
  • Median Sales Price April 2008: $298,475
  • Number Sold in April, 2008: 79
  • The Average Sales price is down 10.6% compared to April 08 and down 1% compared to last month March 09.

    The Median Sales prices is up 3.2% compared to April 08 and up 5.1% compared to March 09.

    The number of sales is up down by 8 or 10% compared to April 08 and up by 16 or 29% compared to last month March 09.

    The Bellingham Real Estate Market is still relatively strong compared to most of the nation. Prices look to be on the upswing as we come into spring, especially in the condo market. Bellingham Real Estate - Resisential Graph
    Bellingham Real Estate - Condo Graph

    Condo Analysis for Bellingham

    • Currently Active Listings: 277
    • Price range of active listings - $99,000 - $1,565,000
    • Average List Price $266,155 Days on the Market: 202
    • Median List Price $199,900 Days on the Market: 101
    • Sold in April: 17
    • Average List Price: $255,951
    • Average Sales Price: $249,244
    • Ratio of List to Price: 97.3% Days on the Market: 135
    • Median List Price: $239,000
    • Median Sales Price: $235,000
    • Ratio of List to Price: 98.3% Days on the Market: 78
    • Pending Sales Last Week: 19
    • Total pending sales: 32

  • Average Sales Price April, 2008: $216,655
  • Median Sales Price April, 2008: $190,655
  • Sold in April, 2008: 30
  • Average Condo sale price is up 15.0% from April 2008 and down 12% from last month - March 2009.

    Median Sales Price is down 10,5% from April 2008 and up 38.6% from last month - March 2009.

    The number of condo sales is down by 13 or 43% compared to April 2008 and up by 1 or 7.3% compared to last month - March 2009.

    There are still some great values in the Bellingham 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.

    Posted in Market Reports
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