Bellingham Real Estate Market – How is IT?
How is the real estate market? This is a question that is always raised and it seemed to be top of mind for everyone coming through my Open House recently at 925 15th St on South Hill. At the Open House, when people would ask “How is the Market”, what they were really asking was 1) how is the Bellingham real estate market in general 2) How is the market on South Hill 3) How is the market for their home. Generally speaking, most Buyers today have a home to sell if they are considering a move and so for many the sales price of the home they want to buy is as important to them as that of which they are hopeing to sell.
So with that said, How is the South Hill Neighborhood Market?
The graphs above represent presentations from 3 separate services all of which draw their data from the Northwest Multiple Listing Service. There may be slight differences in the numbers because of the frequencies in which they collect their data. Currently in South Hill there are 19 active listings. There are currently 8 homes that are pending and 12 that have sold over the last 6 months. Interestingly enough of those that are active, 5 are vacant homes & 8 are rented. Of those that are pending, 1 is vacant and 7 are occupied by the owners. Of those that have sold however 4 were vacant, 8 occupied by the owner and none were vacant. Of the homes that sold, 4 sold within 32 days of the list date. Of those that are pending, 1 sold the day it was listed and 1 sold within 9 days of the list date. So those are the specifics. The Macro picture of the South Hill Neighborhood is this, there are 18 active listings and 8 that are pending or a listing to pending ratio of 44%.
To understand what this ration means & to see what the listing to pending ratios are throughout the County, access the Bellingham Real Estate Market News section of our web site.
If you are as Buyer who has a house to sell and is wondering what the market is like in your neighborhood, you can receive an automated evaluation or if you are wondering about the specifics of your Neighborhood, you receive an automated Neighborhood Evaluation by accessing the Market Report data on our web site or complete the Neighborhood Form on our web site.
If at any time you’d care to talk about specifics, we are more than happy to help you analyize your particular situation.