The Bellingham & Whatcom County real estate market is smoking hot! At the end of June 2019, the average price of a residential home in Bellingham was $548,090, up 12.6% year over year. The median in the county was $470,000, up 10.6 %. The median days on the market, meaning from the list date to contract date, was 8 days! Also, the months of supply, meaning if nothing else came on the market, we would run completely out of homes to sell in 1.7 months (extremely low). While pricing is up, the total amount of sales is up 6.6%, the total number of homes sold is down 5.4%. This an indicator that it is becoming more expensive in Bellingham and driving buyers to the outside markets like Ferndale, Lynden, and Blaine.
Ferndale’s average price is $405,045 up 6.5%, median is $381,000, and there is 2.4 months of supply. Total sales are up 12.2% and the number of homes sold is up 5.4%. Lynden’s average price is $417,416, with the median at $382,500, 2 months of inventory with total sales down 9.1% (lack of inventory) and the number of homes sold at a drop of 4.3%.
The Blaine market, which has lagged behind the bigger sisters, looks as follows; the average sales price is $391,324 up 9.1%, median is $348,000 up 10.5%, the months of inventory is at 4.4 up 29.4% (that’s where some building is happening). Total sales are up 5.5% and number of homes sold is down 3.3%.
In short, Whatcom county is still one of the hottest markets on the west coast and if one is looking to make a move, it could be a great time to do so.