Serving Bellingham & Whatcom County
Coldwell Banker Bain
Tom DeRose :: Wireless: 360-220-9355 :: Email: tderose@coldwellbankerma.com
Bellingham Condo Sales--First 10 Months
Posted on November 17, 2009
As seen in these graphs of condo sales data for the first 10 months of 2008 and 2009, the median price of condos in Bellingham increased from $192,000 in 2008 to $196,000 in 2009. This is an increase in price of 2%. However, the number of condos sold in the first 10 months of 2009 dropped to 182 from 320 in 2008, a drop of 43%.
The general opinion is that there are way too many condos built in Bellingham, too many for teh available buyers. Also, financing to buy a condo is more difficult to obtain than obtaining funding to buy a home.
These drops in price and the number of condos sold in Bellingham are not reflective of the drops elsewhere in the county. For example, Ferndale condo prices dropped by 16%, and the number of condos sold dropped by 43%. Condo prices in Lynden dropped by 4%, and the number of condos sold dropped by 33%.
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