bellingham property march 2014 bellingham, wa...

Bellingham Property

March 2014Bellingham, WA

Real Estate Market Report

A comprehensive report on the Bellingham real estate market.

Year to Date Sales - February 2014 Bellingham Property

Year to date sales in Bellingham are higher then in the prior 5 years, looks like increasing demand and an improving market.

Complements of Michael Eisenberg - eXp Realty 1325 Lincoln St #1 Bellingham, WA 98229 360-739-6981 © Copyright 2014 All Rights Reserved


Homes Sold per Month- February 2014Bellingham Property

The chart below follows the trends of the number of homes sold during any given month. Last month there were 50 homes sold in Bellinghamm. More homes sold in Februaruy than in the prior 5 years during that month

Homes For Sales - February 2014Bellingham Property

The chart below follows the trends of the number of homes for sale during any given month.


Pending Sales per Month - February 2014Bellingham Property

The chart below tracks the number of Pending Sales in the market. These are homes that are UnderContract that have yet to close. Looks like the trend is down this year. I believe this is due to low inventory and there is still some fear of the market.


Home Sales by Price Band - March 2014 Bellingham PropertyOverall we are in an Normal Seller’s Market with 4.2 months of inventory. On average, home prices areshowing Moderate Appreciation. However, the Market is different based on demand and the number of homes for sale in each price range. Homes valued under $500,000 are in a Normal or Extreme Seller’s Market


Absorption RateMonths of Inventory in Bellingham

Bellingham Property

The Absorption Rate, also called “Months of Inventory,” is the best indicator of how fast or slow home values are moving up or down. The formula is the number of homes on the market divided by the number of homes sold in the prior month. With 6 months of inventory, the market is called Balanced, and home values remain stable with slight decreases or increases possible. Below 6 months is called a Seller’s Market, as home prices slightly increase due to demand. Above 6 months is a Buyer’s market.


Average and Median Sale Price Bellingham Property

The chart above follows the trend of average and median sales price per year. Last month the average sales price was $304,794. The median sold price was $263,503 last month. The average sales pricein January is up 5% and the median sales price is up 15% from one year ago.

The chart below shows the annual average and median prices of Bellimgham home sold.


Average

Median

Average Days on Market - February 2014Bellingham Property

Of the homes that sold last month, the average days they had been on the market was 105 days. This is 25 days more than a year ago


bellingham property march 2014 bellingham, wa...

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