I get a lot of questions about the market condition. The following graph shows what is going on in Bellingham market.
To sum it all, we have less inventory but more Sold than last year. Less supply and more demand will move the price up eventually. We have seen small rise this year already. Historically low interest rate makes homes more affordable for sure. (WECU's today's posted 30 year Fixed rate for a primary home purchase is 3.125% without points. ) You can find investment homes that will cash flow easily with this interest rate.
Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
For Sale -5.7% -13.7% -13.9%
Sold -5.8% 21% 19.8%
Pended -2.7% 22.2% 14.6%