Our market's shift continues to unfold as I write this. I just created a statistical analysis for the Bellingham and Whatcom County areas. It continues to reflect a steady decrease in inventory with a higher number of sales and pending sales. Our average price is down 2.1% from a year ago which I believe reflects more activity in the lower price ranges than the upper price ranges. I am seeing a bit of a turn around in Sudden Valley finally. The average price there is up 13.1% this quarter over first quarter of 2011. Inventory in the core of Bellingham is very tight and buyers are having a tough time finding what they want. There has been very little building over the past 5 years and it is beginning to show. The few builders that are building are noticing an increase in demand. In some cases I've seen homes sell before they are done or in the permit process.
If you are interested in my full statistical quarterly analysis of our local market then shoot me an email and I'll send it to you. Of course, I am always available to answer questions as well.
There are quite a few strategies for listing and buying homes. As always, it is very important to do the research required to leverage market conditions in your favor. In this market one must know what similar homes have sold for recently. You must also know details about the seller's situation or a buyer's credentials. This is a market that requires diligence and dedicated research to maximize your position. Feel free to call or email anytime to talk about the market, your specific situation, or to just catch up.
Best Wishes, Matt McBeath Realtor RE/MAX Whatcom County Inc. 360-510-6908 matt@mattmcbeath.com This article may not be reproduced without the author's explicit permission. All rights reserved. Copywrite 2012
ZIP Codes: 98229, 98226, 98225, 98227, 98264, 98230 Approximate Location Boundaries: Northwest Washington
Location Characteristics: Bellingham is a lovely place to visit and an even better place to live. Nature is at your doorstep. The San Juan Islands are world class boating. Mount Baker is some of the best skiing and snowboarding in the country. Vancouver and Seattle are only about an hour away. Rivers, lakes, and the ocean are 5 minutes from anywhere in town. Just spectacular.
About Matt McBeath:
Visit my web site at www.MattMcBeath.com for all the latest information on buying or selling property in Bellingham and Whatcom County.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
