2016 Whatcom County Real Estate Report

Bellingham Real Estate Market 2016 marked the 5th straight year of real estate sales and price increases in Whatcom County, which we probably all knew, particularly if we bought or sold a house recently.  However, the changes in the Whatcom County market have not been equal in all areas, which may give us a glimpse of how the County will change over time.

 

Let’s start with some basic numbers:

  • While the number of total home sales in Whatcom County increased by 50% over the past 5 years (to 3145 from 2088), the percentage of increase by area varies from a low of 13.6% in Lynden to a high of 106% in the Mt Baker area.

 

  • While the number of homes sold over the past 5 years in every area was up, the percentage of the market held by the areas changed, with Bellingham dropping from 45% to 36% of the market, Lynden dropping from 11% to 8% and other areas picking up their losses.

 

  • Average sale prices throughout the county have increased since 2012, with an average increase county wide of 22%.  The greatest percentage increase was in the Mt Baker area…up almost 52%…and the least percentage increase was in Birch Bay/Blaine…up just 7.5%.  Other areas saw average price increases of 20% to 30%.  Median sale prices were up across the board.

 

  • The homes that sold went faster over the past 5 years…almost twice as fast as in 2012…but there were still homes that didn’t sell.

 

The number of homes for sale in Whatcom County as of December 31st was down about 30% from last year at this time.  Typically, inventory increases when the holidays are over, but we aren’t anticipating the market to loosen up in 2017.

Do you have specific question about the Bellingham and Whatcom County Real Estate markets? Johnson Team Real Estate is here to answer you questions! Call us today at (360) 303-2734 or email us at Info@JohnsonTeamRealEstate.com.

 

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