The graph on the left shows the average and median price of homes sold in Bellingham from 1990 through 2009. Notice that the price of homes peaked in 2007.
The graph on the right shows the number of homes sold in Bellingham in the same time period. Notice that the number of homes sold peaked in 2004. Prices are still relatively high compared to 2004 and earlier. However, the number of homes sold has never been as low since 1990 as it is now.