Whatcom County Home Market Posts Modest Sales Gains in 2024
January 06, 2025
The Whatcom County home market bounced back in 2024, showing gains in both sale prices and the number of homes sold, according to a local real estate report.
After dipping 1.8% in 2023, the median price of a Whatcom County home sold in 2024 increased 7.8% to an all-time high of $635,000, according to Peter Ahn, co-owner of Bellingham-based The Muljat Group.
Also, the number of Whatcom County homes sold reversed a two-year decline in 2024, rising 3.2% to 2,424. However, that still is significantly lower than the county’s all-time high of 3,268 homes sold in 2021 when mortgage rates were lower, according to Ahn, who prepared a report based on data from the Northwest Multiple Listing Service.
“We had a bounce-back year of increased sales in 2024 for Whatcom County compared to the previous two years where sales decreased 10% in 2023 and 20% in 2022,” Ahn said.
Bellingham continues to lead the county’s housing market. Its 2024 median sales price jumped 7.6% to $765,000, which is $130,000 more than the countywide median. Lynden, Ferndale and Birch Bay/Blaine also had median sales prices above $600,000 in 2024.
“Assuming mortgage rates stay relatively the same (around 6%), we anticipate the overall market will continue to recover in 2025 and have moderate increases in the form of total sales and average prices,” Ahn said. “Buyers will continue to adapt to the rate while sellers, lenders and real estate agents also create ways to mitigate the market with specific products and closing cost incentives.”
The median sales price, average sales price, number of units sold and average days on the market (DOM) before a sale for Whatcom County and individual communities for all of 2024, with percentage comparisons to all of 2023, follow.
Whatcom County – Median price, $635,000, up 7.8%; average price, $700,111%, up 7.3; units sold, 2,424, up 3.2%; DOM, 40, down 7.0%.
Bellingham – Median price, $765,000, up 7.6%; average price, $879,799, up 8.1%; units sold, 757, up 4.9%; DOM, 27, down 12.9%.
Birch Bay/Blaine – Median price, $618,500, up 12.5%; average price, $676,346, up 9.7%; units sold, 364, down 1.1%; DOM, 46, down 2.1%.
Ferndale – Median price, $635,000, up 7.6%; average price, $659,472, up 4.3%; units sold, 358, up 3.8%; DOM, 40, down 9.1%.
Lynden – Median price, $675,000, up 5.5%; average price, $728,569, up 8.2%; units sold, 207, down 2.4%; DOM, 46, down 4.2%.
Mount Baker – Median price, $382,500, up 9.6%; average price, $412,104, up 6.8%; units sold, 248, down 2.4%; DOM, 61, up 13.0%.
Nooksack Valley – Median price, $520,000, up 7.8%; average price, $543,396, up 5.2%; units sold, 141, up 15.6%; DOM, 61, unchanged.
Sudden Valley – Median price, $575,000, up 2.0%; average price, $614,809, up 4.5%; units sold, 141, up 2.2%; DOM, 26, down 13.3%.
After dipping 1.8% in 2023, the median price of a Whatcom County home sold in 2024 increased 7.8% to an all-time high of $635,000, according to Peter Ahn, co-owner of Bellingham-based The Muljat Group.
Also, the number of Whatcom County homes sold reversed a two-year decline in 2024, rising 3.2% to 2,424. However, that still is significantly lower than the county’s all-time high of 3,268 homes sold in 2021 when mortgage rates were lower, according to Ahn, who prepared a report based on data from the Northwest Multiple Listing Service.
“We had a bounce-back year of increased sales in 2024 for Whatcom County compared to the previous two years where sales decreased 10% in 2023 and 20% in 2022,” Ahn said.
Bellingham continues to lead the county’s housing market. Its 2024 median sales price jumped 7.6% to $765,000, which is $130,000 more than the countywide median. Lynden, Ferndale and Birch Bay/Blaine also had median sales prices above $600,000 in 2024.
“Assuming mortgage rates stay relatively the same (around 6%), we anticipate the overall market will continue to recover in 2025 and have moderate increases in the form of total sales and average prices,” Ahn said. “Buyers will continue to adapt to the rate while sellers, lenders and real estate agents also create ways to mitigate the market with specific products and closing cost incentives.”
The median sales price, average sales price, number of units sold and average days on the market (DOM) before a sale for Whatcom County and individual communities for all of 2024, with percentage comparisons to all of 2023, follow.
Whatcom County – Median price, $635,000, up 7.8%; average price, $700,111%, up 7.3; units sold, 2,424, up 3.2%; DOM, 40, down 7.0%.
Bellingham – Median price, $765,000, up 7.6%; average price, $879,799, up 8.1%; units sold, 757, up 4.9%; DOM, 27, down 12.9%.
Birch Bay/Blaine – Median price, $618,500, up 12.5%; average price, $676,346, up 9.7%; units sold, 364, down 1.1%; DOM, 46, down 2.1%.
Ferndale – Median price, $635,000, up 7.6%; average price, $659,472, up 4.3%; units sold, 358, up 3.8%; DOM, 40, down 9.1%.
Lynden – Median price, $675,000, up 5.5%; average price, $728,569, up 8.2%; units sold, 207, down 2.4%; DOM, 46, down 4.2%.
Mount Baker – Median price, $382,500, up 9.6%; average price, $412,104, up 6.8%; units sold, 248, down 2.4%; DOM, 61, up 13.0%.
Nooksack Valley – Median price, $520,000, up 7.8%; average price, $543,396, up 5.2%; units sold, 141, up 15.6%; DOM, 61, unchanged.
Sudden Valley – Median price, $575,000, up 2.0%; average price, $614,809, up 4.5%; units sold, 141, up 2.2%; DOM, 26, down 13.3%.
