The data displayed in the table show home sales for the last 6 months in a part of Bellingham along Chuckanut Drive. These 6 homes are all of the homes that sold in this area of town for between $300,000 and $600,000.

 

What is particularly striking is that many of these homes sold for from $100,000 to $200,000 less than their original list price. Also, most of the homes were on the market for a half year to more than 2 years. These drastic reductions in price, and the length of time it takes to sell a home, is common with higher priced homes ($500,000 and above) in Whatcom County. This segment of the market has been particularly hard hit in the past 2 years.

 

It should be pointed out that in nearly all of these home sales, the list price was gradually reduced until it was at or near a fair market price. In general, buyers didn't make offers that were $100,000 less than current list price.

 

Original list price	Sale price	Days on market
$449,000	$350,000	330
$599,000	$355,000	200+
$595,000	$390,000	145
$520,000	$432,000	726
$464,000	$390,000	153
$539,000	$500,000	50