This graph shows homes sales priced $500,000 and above for the past 9 years in Bellingham and Whatcom County. Note that the sales for 2009 are only through September. The projection is that sales in 2009 will be about the same as in 2008.

 

In Bellingham, 20 home in this price range sold in 2000; 189 homes sold in 2007; 92 sold in 2009 through September.

 

Perhaps the most significant feature of this graph is that as home prices increased in Bellingham, people started buying homes outside of Bellingham--in other locations throughout the county. As home prices dropped in 2007, fewer homes were sold in the county. People tended once again to buy homes in Bellingham. This has had an obvious impact on prices in the county--they have fallen fare more that prices have fallen in Bellingham.