2007, through February, is comparing favorably to activity levels and prices in 2006. The number of residential units sold in Bellingham is up 10.7% over 2006 and average prices increased by 4.4% over the first 2 months of 2006. However, these increases were driven by strong gains in January. February 2007 was actually down 9.2% in number of units sold and 3.6% in average sold price from February of 2006.
Inventory levels are still much higher (507 units at the end of February 2007 compared with 418 at the same time in 2006) and the number of homes with pending sales are down considerably (193 compared to 226 in 2006).
Whatcom County as a whole posted gains of 5.1% in average sold price in the first 2 months, driven primarily by strong pricing in Ferndale and Sudden Valley. Units as a whole were off a bit (1.9%)
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