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.
Author:Michael Eisenberg Phone: 360-739-6981 Dated: September 15th 2016 Views: 587 About Michael: Michael was born and raised in Brooklyn NY. He graduated from Brooklyn College with a degree in Math...
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