Bellingham’s Real Estate Market Update for Feb 10th - Feb 16th

Weekly Review of Bellingham’s Real Estate Market 2/10/08 - 2/16/08

This week in Bellingham, 23 new homes were listed with an average price of $400,143 and a median price of $319,500. It appears as though the level of new inventory has stabilized in Bellingham. Over the last several weeks the number of homes coming on the market has been rising. A healthy market in Bellingham can absorb 20 new listings weekly, but when that number gets pushed to 30 and beyond the market runs the risk of over saturation.

In regard to the Bellingham foreclosure watch, 2 foreclosure homes did come on the market this week. Bellingham has been averaging 1 foreclosure a week since the beginning of 2008. While foreclosures are not good, an average of one foreclosure a week in Bellingham is minor considering the current state of the national real estate market. 


Homes Pending and STI in Bellingham

17 homes pended this week in Bellingham. The average price of pending home sales was $365,868 with a median price of $289,900. The average days on market was 66 days. It is great to see 17 homes go pending in one week in Bellingham. This is very healthy sign for the local real estate market. It is also good to see the number of days on market drop from 90 to 66 since the beginning of the year.

Homes Sold in Bellingham this Week

This week 14 homes sold in Bellingham. The average closed sale price was $270,039, while the average listing price of these homes was $278,177 (97% list price ratio to sales price ratio). The average days on market for the sold homes this week was 74 days.

This Week’s Best Deal in Bellingham

The best new deal in Bellingham this week is a foreclosure located in Tweed Twenty. This 3 Bedroom, 1.75 Bathroom and 1,656sq.ft. home just came on the market for…

Read More at Best Buys in Bellingham Real Estate

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