Below is a snapshot of home sales in Bellingham over the last 60 days. As you can see the 'hotzone' where the most homes sold was between 120,000-499,999 with homes priced between 180,000-300,000 accounting for 42% of the sales. Homes that sold for over $500,000 accounted for 9% of the sales. You'll also see that homes that sold between $400,000-450,000 were on the market for an average of 165 days whereas homes priced between $160,000-179,999 spent an average of 33 days on the market. Below this image, you'll see a comparison to last year in the same 60 day time frame.
The second image below shows the same 60 day time frame from 2009. As you can see there were 255 homes sold in the same time frame as last year. This means there's been a 30% drop from the year before in home sales.