Residential real estate sales in Whatcom County as a whole remained soft through May 31, with Bellingham still the strongest area overall in terms of number of units sold relative to last year. May’s sales in Bellingham were off 5.2 percent (just seven units) from 2006, but the whole of Whatcom County (Bellingham included) was down 9.6 percent, which totaled 28 units.
Strong January sales in Bellingham are holding year-to-date numbers up 2 percent in Bellingham, although small monthly declines have eaten away at the 34 percent increase we saw last January. Whatcom County as a whole has seen the number of units sold drop by 6.3 percent over the course of the first five months. Ferndale, Sudden Valley and Birch Bay/Blaine saw the largest drops in units sold during May, with numbers ranging from negatives of 20 percent to 29 percent.
Inventory levels in Bellingham are about 13 percent higher than they were a year ago, but that amount of difference over last year has dropped from 20 percent at the end of April. Average prices of those homes that sold are still up over last year as a whole, but sold prices actually dropped slightly during May in Bellingham (down 0.6 percent) and substantially in Lynden (down 10.6 percent) although the county overall held almost steady with an increase of 0.3 percent.
Average days on market before a sale are still up 41 percent over last year for the county as a whole, but Lynden has seemed to buck this trend over the past two months. Days that homes were on the market before selling were up just 2.5 percent in April, and in May actually dropped 1.4 percent. Lynden now has the lowest days on market of any area in Whatcom County. This has been coupled with a drop in the average Lynden sold price over the same period – perhaps the newest Homestead offerings are showing up here.
If you would like information about any specific areas, feel free to call us at (360) 527-8766 or email me at Lylene and we will get right back to you.