Get the Facts on the Bellingham Real Estate Market!

As I talk to people about real estate, I am increasingly told they feel things are cooling off.  When I ask why, the common replies are the frequency of price reduction signs, flipped sales, increased market times & listings going beyond the “offer review date”.  To get a better perspective of the “State of the Market”, let’s take a look at the following statistics for our local market.

 

Whatcom County has a 2.83 month supply of inventory.  Remember that a healthy real estate market has 4 to 6 months.  There are currently a total of 910 active residential & condos listings.

The average sale price of single family and condo sales closed in Whatcom County has increased almost $16,000 with the median price increasing $44,900 over the past 12 months A local lender’s interest rate as of 10.19.2017 for a 30 year fixed rate loan with 5% down is 3.875%. That same loan with the same lender was 3.75% 8.03.2017.  Rates are expected to rise in the coming months to more than 4%.

So let’s drill down further to see some specifics:

-A 5 bedroom, 3 bath, 1576 sq ft fixer built in 1900  on Jaeger St just closed with a full price offer @ $375,000.  It was such a fixer the agent didn’t even include interior photos of the home in the listing.

-Today there are 18 homes / condos that have pended after 5 or less days on the market.  The average market time for all pendings is 35 days. In the last 30 days, there have been 28 homes / condos in Bellingham that have closed within 5 days or less of the home being listed.  Of the 106 homes / condos that sold in Bellingham over the past 30 days, 29 sold in excess of their list price & 16 sold at the list price

-I recently talked to an agent who told me she has written offers recently for 5 different buyers & lost out on all five because there were multiple offers.

So to bring this all together:

There are certainly homes that languish on the market – there always has been & always will be.

Inventory is short to the extreme with no end in sight

Prices will continue to rise.  There is no reason to believe, in my opinion, that demand will slack off.  In fact as the Seattle market continues to heat up, buyers will be forced to look up & down the I-5 corridor to find affordable housing.  I just sold a home to a 1st time buyer in Ferndale.  He commutes to Seattle every day to work.  We will see more of that.

Interest rates are still good  but are increasing.

Here’s a great visual to break down inventory numbers over the past several years:

Market Snap Shot Oct. 17

If you or your friends have questions about real estate, Mike & I would be happy to help.  As many of you know, we have been licensed for years, are committed to helping our clients make good decisions & are not afraid to put in our time – we usually are the 1st ones at the office & the last ones to leave. If that’s the kind of commitment you want for yourselves or want to refer to your friends, please pass our names on.  We are the guys that turn the lights on in the morning & off in the evening.

 

Gorgeous 43 Acres in Mt. Baker Foothills!

LeanoardLocated on Leonard Lane in Maple Falls, Washington for sale for $225,000

This is a gorgeous estate property nestled in the foothills of Mt. Baker. A portion is a level grassy meadow with some trees and a creek meandering through on its way to Sprague Lake. The remainder of the property is heavily treed and fairly steep. The location is approximately 40 minutes from I-5 & only a short distance to the Mt Baker ski area. While there are some development possibilities here this certainly would be an ideal spot for an estate amongst the trees, wildlife, solitude and sun.

Additional Information

Taxes: $1,092
Waterfront: Creek
View: Mountain, Territorial
Lot Size : 43.00 Acres (1,873,080 SqFt)

School Information

Elementary:  Kendall Elem
Junior High:  Mount Baker Junior High
High: Mount Baker Senior High

For more information on this property or other properties in the area call us toll free at 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com today!

Walk to Boulevard Park and More!

Just listed 444 S State Street in Bellingham. 1 bedroom, 1 bath condo in the heart of South Bellingham.

Condo

Come enjoy this great condo right above Boulevard Park. Access to the park is easy and the walk to Woods Coffee is a breeze. The unit is 1 bedroom and 1 bath with a nice open feel in the living space. Tons of light as it is a corner unit and has a private balcony. The complex has a pool, rec room , on site laundry, sauna and a storage space. Plenty of guest parking for visitors and the unit comes with a reserved parking space.

Additional InformationCondo 2

  • Taxes: $1,594
  • HOA Dues: $257
  • Exterior: Cement Planked, Cement/Concrete
  • Heating/Cooling: Baseboard
  • Roof:Built-up Roof
  • Flooring: Laminate

For more information on 444 S State St call us today at (360) 303-2734 or visit the home’s website to schedule a showing and learn more!

Just Listed! Incredible Barkley Neighborhood Home

3463 Pinehurst Ct

ViewDon’t miss this 4 bedroom, 2.5 bath home on a quiet cul-de-sac located very near Barkley Village. The spaces are open, bright & designed with efficiency in mind. Enjoy dramatic bay & sunset views from either the master bedroom, balcony or the back deck. Lounging in the hot tub, one would think the Puget Sound & Gulf Islands were put there just for your pleasure. Walking trails are within a few steps of your front door and within a short drive are shopping opportunities at Barkley Village.

Just listed for $487,531

For more information or to see a virtual tour of the home visit our website today!

 

Just Listed! Condo Near Bellingham’s Western Washington University!

Looking for a condo near Western Washington University?

Look no further than 3100 Bill McDonald Pkwy, Unit E302 just listed for sale for $185,000.

This 2 bedroom, 1 bath top floor unit awaits you or your student!

2) Living Room

 

This highly sought after top floor unit comes with vaulted ceilings, natural light that continually streams through the windows & no noisy neighbor above you. It’s the best of all worlds for either you or a lucky renter of your choice. It is fully applianced, has incredibly spacious bedrooms & for those crisp fall & winter evenings, has a toasty wood fireplace. The bus stop right outside allows for easy & economical transportation throughout the city or the university.

To learn more and view a virtual tour visit our website!

Additional Information:

Taxes:$1,410Kitchen 1
HOA Dues: $285
View: Territorial
Exterior Wood
Fireplaces :1 Fireplace
Heating/Cooling: Forced Air
Roof: Flat Roof
Flooring: Laminate, Vinyl Floor, Wall to Wall Carpet

For more information on this condo call us today toll free at 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com

Learn Home Values Around Lake Whatcom

Do you own a home on Lake Whatcom?

Curious how the active real estate market is impacting your home’s value?

Enter your address below for a FREE and INSTANT home value report!

Lake Whatcom Home Values

Don’t currently live on Lake Whatcom, but curious about learning more about the area?

Click the map to search for homes around Lake Whatcom in Bellingham.

Lake Whatcom Map

Lake Whatcom is a true Bellingham gem! Real Estate here is highly desired for the area’s natural beauty and freshwater recreational delights.

Lake Whatcom runs from the eastern edge of Bellingham in the Silver Beach Neighborhood on through Geneva, Sudden Valley, South Bay and into the foothills. Many lake front communities are located along the lake, including Delesta Park, Strawberry Point and Agate Bay. Each of these desirable neighborhoods offer housing options that appeal to a variety of budgets and real estate needs.

Lake Whatcom also serves as Bellingham’s water reservoir and is protected through watershed limitations and restrictions. Despite stringent protections, motorized watersports such as boating and jet skiing are allowed. The lake is also a great place for canoeing, kayaking, and sailing.

To learn more about Bellingham’s beautiful Lake Whatcom call us today at 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com, we are here to help!

 

Incredible Home on Bellingham’s Famous Chuckanut Drive!

House Front 4

Welcome to 859 Chuckanut Drive in Bellingham! You won’t want to miss your chance to own this stunning 3 bedroom, 2.5 bath home located on an expansive .71 acre lot.

View a full Virtual Tour

Exposed beams, vaulted ceilings, floors of wood, tile & concrete along with solid wood trims are the framework for this gorgeous North Western contemporary home located on legendary Chuckanut Dr. From the moment you drive up to this private spot, you’ll know you are in for a unique experience. Whether it’s the private location, the quality of the home, the inviting spaces, the view of Chuckanut Bay or the use of the neighborhood beaches, it all adds up to a lifestyle that you’ll enjoy for years.

Visit Rich Johnson at 859 Chuckanut Drive this Sunday from 1 to 3pm as he hosts an open house here!

For more information on this incredible home or to schedule a private showing call us today at 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Just Listed Bellingham Home with Shop!

View the Virtual Tour

Clean 3 bedroom, 1.75 bath home just on the outskirts of Bellingham. The home is move in ready and does have A/C for the coming heat of summer. Vaulted ceilings, open feel and a fenced yard make this place home. If you desire room to tinker- the shop will come in handy. Fits 2 cars plus has workspace. Come by and have a peek, at this price there are no disappointments. Flat level lot with plenty of yard space.
Just listed for $245,000!

For more information visit the virtual tour or call (360) 201-5088 today!

Just Listed Wonderful Birch Bay Home!

New on the Market, 4856 Lighthouse Drive in Birch Bay!

House Front 3

Lovely 4 bedroom, 2.5 baths on a 1/2 acre lot, just listed for $344,900

View a complete virtual tour here!

If you’re looking for a home with room & spaces for everyone, look no further. No gathering is to large for this floor plan. The kitchen flows into a large great room & will accommodate any occasion. There is even a formal dining room for those Extra Special days. To finish it off, you’ll enjoy a main floor master, 3 spacious bedrooms upstairs along with a HUGE bonus room for those ruckus events, a 3 bay garage & a fenced in 10,000+ sq ft back yard. Birch Bay beaches are only a short walk away.

Additional Information:Family Room 2
Taxes: $2,721
View: Mountain, Bay
Lot Size: 0.25 Acre (10,890 SqFt)
Garage Size: 3 Car
Exterior: Cement Planked
Fireplaces: 1 Fireplace
Heating/Cooling: Forced Air,
Roof: Composition Roof
Flooring: Laminate, Vinyl Floor, Wall to Wall Carpet

School InformationBack Yard 4

District: Blaine School District
Elementary: Blaine Elementary
Junior High: Blaine Middle School
High Blaine: High School

For more information on 4856 Lighthouse Drive in Birch Bay visit our website or call us today at (360) 303-2734 to schedule a private showing!

Lake Whatcom Waterfront Home For Sale

Don’t miss your chance to own a pristine lakefront home in beautiful Bellingham!  Stunning 3078 Northshore Drive is located on the shores of Bellingham’s  magnificent Lake Whatcom.

If you are looking for sun, no bank waterfront, privacy & elegant home, your search is finally over. This 3 bedrooms, 3 bathroom northwestern contemporary home was built by one of Bellingham’s premier builders who used only the finest of materials to create a masterpiece on Lake Whatcom . From the quartz counter tops to the steam shower, no expense has been spared -even Fido has his own shower.

Lake Whatcom Waterfront HomeThe setting is peaceful with beautiful walkways, pond, and lush landscaping with a slice of waterfront complete with a private dock, boat lift and outdoor kitchen. The outdoor water sports and entertaining options at this home are endless! Come see Rich today, from 1:00 to 3pm to see more of what this home has to offer.

If you would like more detailed information on the home or would like to schedule a private showing feel free to call 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com, we would be happy to help!

You may also view directions and more photos on our website!