Serving Bellingham & Whatcom County
Coldwell Banker Bain
Tom DeRose :: Wireless: 360-220-9355 :: Email: tderose@coldwellbankerma.com
Home Sales Snapshot for Whatcom County
Posted on October 17, 2011
September's home sales data are still stuck in the shadow of the Spring 2010 incentive market (recall that the Federal government offered home buying incentives). A number of factors hinder a full-scale housing recovery, yet some positive data suggest improving consumer confidence.
The distressed real estate market remains and will be an issue going forward (there are some estimates that there will be 4.5 million foreclosures).
On the positive side there are slightly better job numbers, strong corporate balance sheets, and slowing unemployment claims.
The data for Whatcom county:
- New listings in Whatcom County decreased 8% for September to 266 new homes.
- Pending sales increased 10% to 239 contracts written. As a result, inventory levels decreased 14% from last year to 1491 active listings.
- The September median sale price was $246,500, a slight decrease of 1.5% from last year.
- Negotiations moved in favor of the sellers as Percent of Original List Price Received at sale increased 5.8% to 91% (this percentage has been hovering around 96%--see entry below).
- The market moved toward balance as Months of Supply of Inventory decreased to 8.8 months (6 months of inventory is considered balanced between buyer market and seller market).
- The national interest rate fell below 4% on a 30-year fi xed; the 15-year fixed rate fell to nearly 3%.
- The national unemployment rate held steady at 9.1% in September
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