Strong Bellingham Home Sales Pull Whatcom County Higher

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October 09, 2018

A strong market for home sales in Bellingham led Whatcom County to another double-digit gain in prices in the third quarter, according to a local real-estate broker.
 The median sales price of a Whatcom County home was $391,475 in the third quarter, up 11.9 percent from the third quarter of 2017, according to Troy Muljat, owner and president of Bellingham-based Muljat Group Realtors. Muljat prepared the report based on data from the Northwest Washington Multiple Listing Service.
 The countywide market was bolstered by continued high demand for houses in Bellingham, where the median price rose 15.5 percent to $467,000. The next two largest markets in the county, Lynden and Ferndale, recorded median price gains of 2.2 and 9.8 percent, respectively.
 Higher prices and mortgage rates are keeping the number of Whatcom County homes sold close to the 2017 rate. County home sales in the third quarter declined 2.4 percent to 902.
 However, Muljat said it´s taking less time to sell a home now, particularly in Bellingham and for homes priced under $500,000. The average time on the market for a Bellingham home was only 28 days in the third quarter.
 The median sales price, average sales price, number of units sold and average days on the market (DOM) before a sale for the county and individual communities for the third quarter of 2018, with percentage comparisons to the third quarter of 2017, follow.
 
Whatcom County – Median price, $391,475, up 11.9 percent; average price, $429,522, up 13.3 percent; units sold, 902, down 2.4 percent; DOM, 38 down 15.6 percent.
Bellingham – Median price, $467,000, up 15.5 percent; average price, $549,065, up 18.7 percent; units sold, 307, up 2.7 percent; DOM, 28, up 21.7 percent.
Birch Bay/Blaine – Median price, $330,000, up 10.4 percent; average price, $370,462, up 9.8 percent; units sold, 97, down 18.5 percent; DOM, 61, down 14.1 percent.
Ferndale – Median price, $371,000, up 9.8 percent; average price, $407,222, up 8.8 percent; units sold, 139, up 4.5 percent; DOM, 46, unchanged.
Lynden – Median price, $372,950, up 2.2 percent; average price, $431,051, up 8.2 percent; units sold, 76, down 12.6 percent; DOM, 33, down 37.7 percent.
Mount Baker – Median price, $165,000, down 2,1 percent; average price, $229,114, up 5.0 percent; units sold, 85, down 19.0 percent; DOM, 59, up 1.7 percent.
Nooksack Valley – Median price, $336,000, up 24.4 percent; average price, $350,213, up 16.7 percent; units sold, 41, down 4.7 percent; DOM, 45, up 7.1 percent.
Sudden Valley – Median price, $355,000, up 15.6 percent; average price, $371,558, up 7.4 percent; units sold, 74, up 21.3 percent; DOM, 29, down 43.1 percent.