March 5, 2009

Bellingham Real Estate Market Report for February, 2009

he 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: 49The 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 December 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: 36Average 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 2009

    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.

    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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