Bellingham Median Price for Homes Tops $500,000
July 03, 2019
A strong housing market continued in Bellingham in the second quarter, pushing its median sales price over $500,000 for the first time, according to a local real-estate broker.
The median sales price of a Bellingham home was $501,500 in the second quarter, up 10.7% from the second quarter of 2018, according to Troy Muljat, owner and president of Bellingham-based Muljat Group Realtors. This increase followed a 14.9% jump in Bellingham in 2018, he added. Muljat prepared the report based on data from the Northwest Washington Multiple Listing Service.
“Demand continues to outpace the supply of single-family homes in Bellingham,” Muljat said. “As a result of limited new home construction, Bellingham’s rate of population growth this decade lags behind every other city in Whatcom County.”
Pricewise, the rest of Whatcom County wasn’t as hot as Bellingham. The countywide median sales price – the point where half the sales are above it and half are below it – rose 5.2% to $405,000 in the second quarter. The county’s median price was affected by a 6.2% drop in the Lynden area, which Muljat attributed to sales of smaller homes in the quarter.
The number of Whatcom County homes sold in the second quarter inched up 2.2% to 880. The Birch Bay/Blaine area was the exception to the trend with an increase of 43.9% more homes (141) sold this year.
The median sales price, average sales price, number of units sold & average days on the market (DOM) before a sale for the county & individual communities for the second quarter of 2019, with percentage comparisons to the second quarter of 2018, follow:
Whatcom County – Median price, $405,000, up 5.2 %; average price, $452,530, up 9.2 %; units sold, 880, up 2.2%; DOM, 42, down 6.7%.
Bellingham – Median price, $501,500, up 10.7 %; average price, $575,505 up 11.3 %; units sold, 274, up 2.6 %; DOM, 33, up 10.0 %.
Birch Bay/Blaine – Median price, $363,300, up 12.8 %; average price, $421,312, up 18.6 %; units sold, 141, up 43.9 %; DOM, 53, up 23.3 %.
Ferndale – Median price, $409,000, up 6.2 %; average price, $424,877, up 7.1 %; units sold, 145, unchanged; DOM, 39, down 18.8 %.
Lynden – Median price, $380,000, down 6.2 %; average price, $402,390, down 5,4 %; units sold, 83, up 2.5 %; DOM, 56, up 14.3 %.
Mount Baker – Median price, $275,000, up 17.0 %; average price, $287,513, up 13.0 %; units sold, 71, down 16.5 %; DOM, 67, up 21.8 %.
Nooksack Valley – Median price, $322,000, up 2.7 %; average price, $346,565, up 7.6 %; units sold, 36, unchanged; DOM, 38, down 15.6 %.
Sudden Valley – Median price, $388,750, up 11.7 %; average price, $418,848, up 12.4 %; units sold, 64, up 12.3 %; DOM, 28, down 3.4 %.
The median sales price of a Bellingham home was $501,500 in the second quarter, up 10.7% from the second quarter of 2018, according to Troy Muljat, owner and president of Bellingham-based Muljat Group Realtors. This increase followed a 14.9% jump in Bellingham in 2018, he added. Muljat prepared the report based on data from the Northwest Washington Multiple Listing Service.
“Demand continues to outpace the supply of single-family homes in Bellingham,” Muljat said. “As a result of limited new home construction, Bellingham’s rate of population growth this decade lags behind every other city in Whatcom County.”
Pricewise, the rest of Whatcom County wasn’t as hot as Bellingham. The countywide median sales price – the point where half the sales are above it and half are below it – rose 5.2% to $405,000 in the second quarter. The county’s median price was affected by a 6.2% drop in the Lynden area, which Muljat attributed to sales of smaller homes in the quarter.
The number of Whatcom County homes sold in the second quarter inched up 2.2% to 880. The Birch Bay/Blaine area was the exception to the trend with an increase of 43.9% more homes (141) sold this year.
The median sales price, average sales price, number of units sold & average days on the market (DOM) before a sale for the county & individual communities for the second quarter of 2019, with percentage comparisons to the second quarter of 2018, follow:
Whatcom County – Median price, $405,000, up 5.2 %; average price, $452,530, up 9.2 %; units sold, 880, up 2.2%; DOM, 42, down 6.7%.
Bellingham – Median price, $501,500, up 10.7 %; average price, $575,505 up 11.3 %; units sold, 274, up 2.6 %; DOM, 33, up 10.0 %.
Birch Bay/Blaine – Median price, $363,300, up 12.8 %; average price, $421,312, up 18.6 %; units sold, 141, up 43.9 %; DOM, 53, up 23.3 %.
Ferndale – Median price, $409,000, up 6.2 %; average price, $424,877, up 7.1 %; units sold, 145, unchanged; DOM, 39, down 18.8 %.
Lynden – Median price, $380,000, down 6.2 %; average price, $402,390, down 5,4 %; units sold, 83, up 2.5 %; DOM, 56, up 14.3 %.
Mount Baker – Median price, $275,000, up 17.0 %; average price, $287,513, up 13.0 %; units sold, 71, down 16.5 %; DOM, 67, up 21.8 %.
Nooksack Valley – Median price, $322,000, up 2.7 %; average price, $346,565, up 7.6 %; units sold, 36, unchanged; DOM, 38, down 15.6 %.
Sudden Valley – Median price, $388,750, up 11.7 %; average price, $418,848, up 12.4 %; units sold, 64, up 12.3 %; DOM, 28, down 3.4 %.
