Fairhaven took on a new character when the winter came here.  The cobbled streets covered up with snow, and made traction a little harder to find, the restaurant windows looked a little more inviting with the temperature drops.  And nothing sold.  At least that's the number crunch for the last month.  Some would say the sky is falling.  Some would even print it. But here are actual numbers that I'm basing this blog on.  There are 34 condos on the market, and 5 homes in the Fairhaven area on the market currently, and in the last 30 days nothing has sold.

One condo did record receiving an offer and accepting it, but it's contingent upon the sale of another property.  Another property is pending a sale, one of the condo flats in the Waldron building (listed at $1,375,000), but it's been pending since April.  And condos over a million aren't really a good litmus paper test for Fairhaven.  Yet.

So what to make of all of this? Here are the facts:   The average home price is $595,960, and on the market for 215 days, roughly around 2506 square feet.  So they're at a higher cost than most in Bellingham, on average. That tends to cut down the market segment a little bit.

Condos? Average price is $674,501, at around 1673 square feet on average, that's roughly $376 a square foot.  And that's not including dues.  Too expensive?  The market agrees with you at this point....the average time on the market is 304 days.  In their defense, a number of these condos are new construction, so while they've been on the market, they've been getting finished.

What I'm seeing as an agent? People are interested or trying to buy in this area, but there have probably been a lot of unsuccessful offers.

I'd like to take the word "offer" and throw it out the window for a few years, so we can get back to basics and realize it's just paper until it's an agreement. 

Unfortunately, Fairhaven's 39 listings may be priced to sell, but no one is agreeing. Yet.

"The sale most often goes to

the most interested party."

-Steve Chandler, author of 100 ways to motivate yourself

Labels: Fairhaven Market, Fairhaven Sales Numbers

    As the last few clients I've had in town have been interested in the  total costs of places in Bellingham per month, we'll always go through what they're comfortable paying according to their monthly mortgage payment.  Then figure in utilities, other bills, car payments, credit cards; a regular slough of money going out.  We're all there, so no judging, especially around the holidays. 

And yet with condos, everything is neatly packaged for the most part.  A large portion of the complexes in town are going to include water/sewer/garbage, sometimes cable, sometimes even Internet or an on-site gym.  Most also include the upkeep of the exterior of the complex, and any of a cornucopia of repairs will be taken out as special assessments or from the coffers of the reserves on Home Owner Dues. 

So as it's the season for lists, I thought a list of Fairhaven Condos on the market as of  today, as well as what they include might be of help.  The list below is based on what's been reported through the NWMLS as of 12/12/08.

Harris Square	158	Earthquake Insurance, G/W/S
Parkway Square	225	Cable TV, G/W/S
Spinnaker Reach	212	Cable TV, G/W/S, Earthquake Insurance
Brookmoor	145	Cable TV
Harris Square	205	Earthquake Insurance, G/W/S
Rose Garden	170
Pippi Condos	235	G/W/S, insurance
Woodland Hills	179	W/S
Creekside at Fairhaven	161	Earthquake Insurance, G/W/S
Fairhaven Trails Condominiums	200	Earthquake Insurance, G/W/S
Young Condominiums	168	G/W/S
Harris Square	252	Earthquake Insurance, G/W/S
Harbor Heights	314	Cable TV, G/W/S, Earthquake Insurance
Spinnaker Reach	306	Cable TV, G/W/S, Earthquake Insurance

 

And these can change, mainly with meetings for the Home Owner's Associations or special assessments.  If you'd like to know more about what to consider when considering condos, drop me an e-mail.

Labels: Fairhaven Condos, Fairhaven homes for sale, Fairhaven Market, Fairhaven Real Estate, Fairhaven Sales Numbers, Fairhaven Stats

Real estate in Fairhaven is pricier than other areas in Bellingham because of the prime location. There is a small residential area south of Donovan Avenue, where the side streets are undeveloped and homes modest. Downtown Fairhaven has been busy developing new condo projects, but in general it’s hard to find anything for under a quarter of a million.

Neighborhood Market Statistics

Average sold price

	2-Bedroom	3-Bedroom	4-Bedroom	5+Bedroom
	$350,528	$397,333	$482,800	$545,000

Labels: Fairhaven Homes, Fairhaven Market, Fairhaven Real Estate