Here’s a quick look at the Bellingham Real Estate Market Report for April 2017 for residential home sales.
The number of residential sales for the month was 85 that is 30 less than April 2016 and the 14 more last month. The Average sales price is up by 14% compared to March 2016 and down 2% from last month’s average sale price of $474,151.
The low number of homes for sales keeps the average price going up. People are holding onto their homes.
Inventory is up a bit from the past few months but still extremely low at 135 homes for sale the day I write this, keeping the market really hot for this time of year. There is only a ridiculously low 1.1 months supply of homes on the market right now. Any home priced right is still snapped up quickly often with multiple offers. There are only 8 homes on the market under $300,00 and as of today the least expensive home on the market is $245,000. This is making it extremely difficult for first time buyers.
There are still buyers out there today looking for new homes but there is still a limited amount of homes for them to choose from.
Multiple offers are still very common in this market for any desirable home.
Interest rates are on the rise, but they are still pretty low, but my guess is they will continue to rise.
Buyer’s, get a pre-approval letter from your lender ready to submit with your offer if you are in a competitive market that may change soon.
If you don’t have it yet, start gathering the documents you will need to get one, which is usually 2 years of tax returns and 2 or 3 months of pay stubs. Check with your preferred lender or let me know if you need a recommendation to a good lender. Want to learn more about the market let’s talk! If you have any questions or want to see any Bellingham Real Estate feel free to email me or give me a call at 360-739-6981
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To see the extensive Bellingham Real Estate Market Report for March Cl
""Mimi Osterdahl was great! We would very much recommend her to anyone looking to sell their home. My wife and I were first time home-sellers - and she took the time to explain every step of the process to us, in as much detail as we asked for. She helped us every step of the way; from the details needed to start selling a home, through staging, photography and connecting with the potential buyers' agents. What's more (for us at least), she was responsive to emails and phone calls and very knowledgeable and friendly. Really, she's a very easy to get along with person, warm and funny and took a personal, vested interest in helping us sell our home. She knew the market and the neighborhood and helped us get as much from our home sale as we could have wished for. Highly recommended!"