Whatcom County home prices continue to soar

Andi • Jul 14, 2016

Tight inventory is really doing a number on local real estate prices.

The median price of Whatcom County homes sold in the second quarter jumped to a record $315,000, or 8.6 percent more than a year ago, .

In Bellingham, where inventory is especially tight, the median price of the 329 homes sold rose a whopping 15.6 percent to $374,000.

Despite the tight inventory, home sales in Whatcom County increased 7.2 percent, with much of the volume increase happening outside of Bellingham. The biggest increases in second-quarter sales were in Blaine/Birch Bay (up 25.7 percent), Nooksack (up 20 percent), Mount Baker (up 17.4 percent) and Sudden Valley (up 12.7 percent). Bellingham sales were up just 2.5 percent.

The shift is particularly significant when comparing market shares.

Bellingham home sales accounted for 42 percent of Whatcom County’s sales in the first half of 2006; that share was down to 36 percent in the first half of 2016.

Inventory is also down in several communities outside of Bellingham, leading to rising prices. Ferndale’s inventory is down 33 percent compared to a year ago. The median price in Ferndale in the second quarter was $305,000, up 5.6 percent compared to a year ago. Lynden’s inventory is down 22 percent, while the median price is up 7 percent to $313,000.

Even with prices rising, it is still possible to find homes priced under $300,000. It’s just that buyers have to adjust what they might want in a home. If they have a certain amount of space in mind, they might have to think smaller, for example. They also need to act quickly and be prepared for multiple potential offers.

It’s really a frustrating market for buyers right now.

The one positive for buyers is that interest rates remain low. Getting the financing in place before shopping for a home is recommended. Buyers are advised to take a look at homes that have been listed on the market more than a few weeks. They might be overpriced and there may be an opportunity to make an offer.

Andi Dyer

 

Sterling Real Estate News

By Andi Dyer 31 Aug, 2023
Are you ready to embark on a journey that goes beyond the ordinary? At Sterling Real Estate Group, being a REALTOR® isn't just a job—it's a calling. We're more than intermediaries; we're relationship heroes who elevate the human side of real estate every single day. Opportunity Knocks! Join our Bellingham or Ferndale office as a Professional Real Estate Sales Broker. As the bridge between sellers and buyers, you'll not only market listings but also guide clients with expertise and care. If you're looking to grow your real estate career, this is the chance you've been waiting for! Why Choose Sterling? We provide more than a job; we offer a community of support and growth. 🌟 Mentorship Programs: Learn from the best in the industry. 📚 Comprehensive Training: Elevate your skills with weekly in-house training. 🚀 Cutting-edge Technology: Stay ahead with top-notch tools and marketing systems. 💼 Wealth Seminars: Build your financial future with expert advice. 🌆 Engaging Culture: Join a team that thrives on collaboration and positivity. 🎓 Educational Bonuses: Access clock hour classes and MLS forms training. 🏠 And Much More: Countless benefits await your journey with us. Your Responsibilities: 🤝 Mediate for successful transactions between sellers and buyers. 💼 Understand client needs and provide suitable solutions. 🏡 Develop strong local community relationships. 📊 Conduct property value analysis. 📈 Guide clients in marketing and property acquisition. What You Bring: 🌟 Sales Success: A proven track record is a plus. 🤝 People Skills: Excellent negotiation and empathy. 🎯 Results-focused: Trustworthy and driven to excel. 🚀 Autonomy: Work independently while selling effectively. 🚗 Mobility: Reliable transportation and valid driver's license. Rewards You Deserve: ✨ Collaborative Culture: Join a diverse and supportive team. 🛠️ Excellent Support: Benefit from robust systems and support. 🌈 Diversity: Embrace inclusivity in all aspects. ⏰ Flexible Part-time: Balance work and life. 💰 Lucrative Commissions: Earn between $60,000 to $95,000 (DOE). About Sterling Real Estate Group: We're not just another real estate company; we're a family-owned business committed to integrity and top-tier service. Our diverse team specializes in various aspects of real estate, ensuring personalized attention for every client. From luxury properties to commercial investments, we cover it all. Community-Driven Commitment: We believe in giving back! We're deeply rooted in our community and actively support local charities. Our impact goes beyond transactions; it's about making a positive change where we live and work. Join Us Today! Are you ready to be a part of a team that values integrity, diversity, and community impact? Choose Sterling Real Estate Group for your next step in the real estate world. Let's build success and give back together. Contact us now! 🏠🌟 360.756.0021 office 360.734.6479 cell
By Andi Dyer 31 Aug, 2023
Selling Tips
31 Jul, 2023
Exciting opportunity for a dynamic and energetic Office Manager/Transaction Coordinator
By Andi Dyer 20 Jul, 2023
Download the new NWMLS app to look for listings anywhere!
By Andi 23 Mar, 2023
What if the appraisal is low? We have options!  We can ask the Buyer to dispute. Questions? Contact us at andi@andidyer(dot)com or 360-734-6479. This content is not the product of the National Association of REALTORS®, and may not reflect NAR’s viewpoint or position on these topics and NAR does not verify the accuracy of the […] The post What If The Appraisal Is Low? Step 31 to Selling Your Home first appeared on Andi Dyer Real Estate.
By Andi 23 Mar, 2023
These 10 money- and time-saving steps can help you craft a winning bid. Cinematically speaking, this is the iconic moment — we’d forgive you if you imagined, say, putting a hand on your agent’s shoulder and whispering (in your best Vito Corleone) that you’re going to make them an offer they can’t refuse. In reality, […] The post Make An Offer Like A Boss first appeared on Andi Dyer Real Estate.
By Andi 09 Mar, 2023
Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit. As you prepare your tax returns, be careful not to commit any of these eight home-related tax mistakes, especially if you are taking any home office tax deductions.  Tax pros say these common tax […] The post 8 Easy Mistakes Homeowners Make on Their Taxes first appeared on Andi Dyer Real Estate.
By Andi 06 Mar, 2023
If the Buyer is using a mortgage to buy your home, then the Lender will require that an appraisal be conducted.  Who Orders the Appraisal? The Buyer’s Mortgage Lender orders the appraisal, but the Buyer pays for it. When Does the Appraisal Occur? Usually, during weekday hours after the inspection negotiation has been resolved. Do […] The post The Appraisal Occurs – Step 30 to Selling Your Home first appeared on Andi Dyer Real Estate.
By Andi 28 Feb, 2023
By: HomeFinder Staff | June 1, 2022 With sky-high real estate prices coupled with younger generations settling down with romantic partners and starting traditional families later than ever — if they even do at all! — it’s no wonder that buying an investment property with a friend is a trend on the rise. Citing data from […] The post Buying A House With A Friend: How To Get Started and the Pros & Cons first appeared on Andi Dyer Real Estate.
By Andi 22 Feb, 2023
The home inspection will usually have been conducted within 2-10 business days after the contract is accepted. The Buyer will schedule the inspection, and their Broker will confirm the day/time that works for us (we want to accommodate it). Most Inspectors do not work evenings or Sundays. The home inspection must occur quickly as it often […] The post The Home Inspection – Step 29 – To Selling Your Home first appeared on Andi Dyer Real Estate.
More Posts
Share by: