Weekly Review of Bellingham’s Real Estate Market 1/27/08 - 2/02/08

Bellingham’s Real Estate Market for 1/27/08 - 2/02/08

The real estate market held strong again this week in Bellingham. 20 new homes were listed with an average price of $416,308 and median price of $354,950. 16 homes pended this week with an average price of $317,209 and median price of $269,450. The average days on market for homes that pended was 103.

Good Signs in January for Bellingham’s Real Estate Market

Overall, it was a pretty good month in Bellingham. The total number of sales was down from the Jan 2007 total of 77 to 59 in Jan 2008. The drop in closed sales was due to the slow market in Dec 2007. However, I imagine that we will see total sales really pick up in February due to the activity that we have experienced this January.

What is New on the Bellingham Real Estate Market this Week?

This week, 18 of the 20 new homes on the market were existing construction. Most of the builders have decided to sit on their lots for awhile, so this is a trend that we will likely see through most of the spring. Of the 2 new construction homes that were listed only one was is located within a new plat, while the other home that is being constructed is on an infill lot.

Homes that Pended or Received Accepted Offers in Bellingham this Week

Staying on the subject of new construction, 6 of the 16 homes that pended this week were new construction. 4 of those homes were located in DR Horton’s Reserve at Cordata, which was discussed in detail last week.

Other notable pending sales include a beautiful private home near Sea Pines on Briza Ct. This private 4 bedroom, 3 bathroom and 2,839sq.ft. home was listed for $618,000. This home was great deal and only on the market for 1 day.

This Week’s Best Deal in Bellingham

People are always looking for a home on acreage near Bellingham, WA. This 3 bedroom, 1.5 bathroom and 1,838sq.f.t home is located on 2.35 acres. Priced under $300,000… Read More At… Best Buys in Bellingham Real Estate
 

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