Here's interesting data. This graph shows the media sale price of homes in Bellingham January to August for 2008 and 2009. There are two notable features:

- in 2008, the media sale price of homes in Bellingham started to decline in May

- in 2009, the median sale price of homes in Bellingham started to increase

 

Notice that the median sale price of homes in Bellingham has continued to increase since May. This probably does not mean that the value of individual homes is increasing. Rather, it most likely means that people are buying more expensive homes than they were earlier in the year. There is data to support this idea. Most homes sales a few months ago were below $300,000. Recently, homes in higher price ranges are selling.

 

The good news is that the median sale price of homes in Bellingham is getting back to where it was a year ago. This may indicate that prices are stabilizing.