Bellingham Real Estate Market Report August 2016

Bellingham Real Estate Market Report August 2016

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To see the extensive Bellingham Real Estate Market Report for August Click Here

Here's a quick look at the Bellingham Real Estate Market Report for August 2016 for residential home sales.

The number of residential sales is down 4 from August  2015 up 7 from last month.
The sales price is up 32% compared to August 2015. It is up 16% from last month’s average sale price of $416,656

The market is still sizzling hot, and we are still experiencing a low inventory market. There is only a 2 months supply of homes on the market right now.  Any home priced right is snapped up quickly often with multiple offers. There are only 29 homes on the market under $300,00 and only 4 under $200,000.

There are many buyers out there today looking for new homes but a limited amount of  homes for them to choose from.

Multiple offers are very common in this market for any desirable home.

With all the talk we have been hearing in the media about interest rates about to rise, it still hasn't happened at interest rates are still at all-time lows.

Buyer's, get a pre-approval letter from your lender ready to submit with your offer if you are in a competitive market.

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 at or give me a call at 360-739-6981
Click Here to find the Value of Your Home


Michael Eisenberg Headshot
Author:
Phone: 360-739-6981
Dated: September 15th 2016
Views: 519
About Michael: Michael was born and raised in Brooklyn NY. He graduated from Brooklyn College with a degree in Math...

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eXp Realty Washington
1106 Harris Ave Suite 104
Bellingham, WA
425-728-7288