But Bellingham price now tops $500,000

WHATCOM — A strong housing market continued for Bellingham in the second quarter, as the median sales price went over $500,000 for the first time, according to a local real-estate broker.

That Bellingham price hit $501,500, up 10.7% from the second quarter of 2018, according to Troy Muljat, owner and president of Bellingham-based Muljat Group Realtors. This increase followed a 14.9% jump in Bellingham in 2018, he added. Muljat prepared the report based on data from the Northwest Washington Multiple Listing Service.

“Demand continues to outpace the supply of single-family homes in Bellingham,” Muljat said. “As a result of limited new home construction, Bellingham’s rate of population growth this decade lags behind every other city in Whatcom County.”

Pricewise, the rest of Whatcom County wasn’t as hot as Bellingham.

The countywide median sales price — the point at which half the sales are above it and half are below it — rose 5.2% to $405,000 in the second quarter. The county’s median price was affected by a 6.2% drop in the Lynden area, which Muljat attributed to sales of smaller homes in the quarter.

The number of Whatcom County homes sold in the second quarter inched up 2.2% to 880. The Birch Bay/Blaine area was the exception to the trend with an increase of 43.9% more homes (141) sold this year.

Listed below are the numbers for the county and individual communities in the second quarter of 2019, compared to 2018, by median sales price, average sales price, number of units sold and average days on the market (DOM) before a sale: 

 

Whatcom County — Median price, $405,000, up 5.2 percent; average price, $452,530, up 9.2 percent; units sold, 880, up 2.2 percent; DOM, 42, down 6.7 percent.

Bellingham — Median price, $501,500, up 10.7 percent; average price, $575,505 up 11.3 percent; units sold, 274, up 2.6 percent; DOM, 33, up 10.0 percent.

Birch Bay/Blaine — Median price, $363,300, up 12.8 percent; average price, $421,312, up 18.6 percent; units sold, 141, up 43.9 percent; DOM, 53, up 23.3 percent.

Ferndale — Median price, $409,000, up 6.2 percent; average price, $424,877, up 7.1 percent; units sold, 145, unchanged; DOM, 39, down 18.8 percent.

Lynden — Median price, $380,000, down 6.2 percent; average price, $402,390, down 5,4 percent; units sold, 83, up 2.5 percent; DOM, 56, up 14.3 percent.

Mount Baker — Median price, $275,000, up 17.0 percent; average price, $287,513, up 13.0 percent; units sold, 71, down 16.5 percent; DOM, 67, up 21.8 percent. 

Nooksack Valley — Median price, $322,000, up 2.7 percent; average price, $346,565, up 7.6 percent; units sold, 36, unchanged; DOM, 38, down 15.6 percent. 

Sudden Valley — Median price, $388,750, up 11.7 percent; average price, $418,848, up 12.4 percent; units sold, 64, up 12.3 percent; DOM, 28, down 3.4 percent.