Bellingham and Whatcom County Real Estate Market Update

The teasing indications of an improvement in the local housing market throughout 2012 have really kicked in over the past 2 months, and the cumulative results of that can best be seen by comparing sales in November 2012 to sales in November 2011. Let’s start by looking just at Bellingham via the table below.

November 2011 Price Ranges in $1000’s Total 2011 November $ Sales Total Units Sold Average Sales Price % of Market Changes in November Year to Year Distribution of Residential Sales in Bellingham
<300 $9,214,940 46 $200,325 75.4%
300 to <500 $3,423,400 10 $342,340 16.4%
>500 $2,350,000 4 $587,500 6.6%
>750 $850,000 1 $850,000 1.6%
November 2012 Price Ranges in $1000’s Total 2012 November $ Sales Total Units Sold Average Sales Price % of Market Unit Change Average Price Change
<300 $12,150,908 56 $216,981 62.9% 21.7% 8.3%
300 to <500 $8,043,900 22 $365,632 24.7% 120.0% 6.8%
>500 $4,400,500 7 $628,643 7.9% 75.0% 7.0%
>750 $3,171,000 4 $792,750 4.5% 300.0% -6.7%

First, note the number of homes sold: 61 in 2011 compared to 89 in 2012. Then, note the distribution of those sales: over half the increase was above the $300,000 price point. Note the average price changes within the price ranges under $750,000: up 6.8% to 8.3%. These are strong numbers. Continue Reading…

To read more and learn more about the latest trends and statistics for the Bellingham and Whatcom County Real Estate Market’s visit our website….

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