Here's a quick look at the Bellingham Real Estate Market Report for July 2016 for residential home sales.
The number of residential sales is down 22 from July 2015 down 4 from last month. The sales price is down a slight $180 compared to July 2015. It is down $11,747 from last month’s average sale price of $428,403
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 25 homes on the market under $300,00 and only 3 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.
""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!"