Bellingham Real Estate April Market Update

Bellingham Home Prices Increase 9% from March to April.

The Bellingham real estate market took a turn up during the month of April with 78 home sales. The average price of homes sold in Bellingham increased 9% from $345,735 to $377,083. The median price of homes sold also increased from $290,000 to $338,000 during April. While the local real estate market is fighting an increase in short sales and foreclosures inventory, the market is showing brief signs of recovery by posting gains in prices.

While most of the real estate news in Bellingham is positive this month, the days on market have continued to rise with the inventory. Fortunately the inventory and time on market have not increased dramatically. The days on market increased from 95 to 102 since last month. The number of homes on the market in Bellingham increased 8.4% from 522 to 566. Inventory is expected to increase during May, as this is the best time of year to put a house on the market.

Currently, the average price of homes for sale in Bellingham is $503,790. In addition to the 566 homes that are currently for sale, there are 58 homes that are now pending and should close during May. The outlook for May is increased real estate activity across the board. I expect to see increased sales, pending homes and inventory.
 

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