Coldwell Banker Relocation Team

Here is the first set of data to look at in our search to answer the question: "When will the market recover?" This graph shows home sales in Whatcom County from 2004 through August 2011.

There are obvious features worth commenting on.

The volume of sales in 2004 through 2007 compared to 2011. I would estimate the average number of home sales per month in 2004 to be around 220. I would estimate the average number of home sales per month in 2011 to be 130.
In 2004 through 2007, there is enormous variability throughout the year from 100 sales per month in the winter to 300 to 350 in summer months. The variability through 2010 and 2011 is between 100 and less than 200. So the lows are consistent across years, but the highs are twice as big in 2005, for example, compared to 2011.
The summer in 2010 actually shows a dip in sales, which is probably due to the Federal incentive for home buyers last spring--when it ended, home sales plummited.
2011 may be very similar to 2010 in total sales for each year.

Obviously, we've gone from very vigorous home sales in 2007 to very slow home sales today. The graph is somewhat flat through 2010 and 2011 suggesting we are bottomed out. There is a marked upturn in August. We will see if that holds into September.

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Useful Information About Bellingham Real Estate
by Tom DeRose