Bellingham, WA Real Estate Market Update For The Week Of 2/25/12
What this tells you is how many of the homes in each price range are pending. And for extra good measure, just a look at how many actually closed for the week. If it’s not clear, contact me.
Below in Bellingham – $200,000-250,000 is smoking. Buyers: If that’s your price range, be quick and expect to compete.
Further down, there is a definite drop off at the $400,000 mark.
To see all the other areas… (Ferndale, Sudden Valley, Lynden, Blaine & Birch Bay…
In Sudden Valley, there is only one home pending over $300,000, and NO homes closed this week.
Ferndale’s sweet spot is $200,000 to $300,000.
Mainly because of Semiahmoo, this area has 9 homes pending over $400,000 and 3 over $600,000.
The last column… in these 4 areas, a whopping 14 homes closed this past week.
What can you learn from this? If you are putting your house on the market, there are definite sweet spots where you have a much higher chance of getting your house sold, and for closer to the asking price.
For buyers… not all segments of the market are “buyer’s markets”. If you are buying in the $200-300,000 range, I hate to break it to you but it is competitive. Don’t think you can waltz in and lowball. If you do, you’ll be going home alone over and over, so to speak.
Need a consult? Right here.