Broker News Industry News JLS in the News Market Update News

Current Bellingham Housing Market

Photo by Julián Gentilezza on Unsplash

Dave Gallagher | Bellingham Herald

The steady drumbeat in local real estate recently is that inventory is tight and home prices keep rising. It appears some buyers have had enough.

While inventory remains tight, sales are solid and home prices continue to rise, price reductions are also increasing along with homes being pulled off the market. Between June 13-20, 52 price reductions were made on homes for sale across Whatcom County, including 23 price reductions in Bellingham, said Darin Stenvers, branch manager at John L. Scott’s Bellingham office, adding that this is up from earlier this year.

Another telling statistic: Of the homes that have come on the market within the last 30 days, 46 Whatcom County homes have been pulled off the market, including 10 in Bellingham. Newly listed homes get taken off the market for a variety of reasons, including being priced too high and not getting offers. It could also happen when a contingent offer on another house didn’t work out. Changes in interest rates can also be a factor, Stenvers said.

Read the rest of the article here.

Related posts

Home prices soar again; some buyers camp out to latch on to a future condo – JLS VP Jon Hunter chimes in

jlspr

JLS Broker Sarah Mosley has a listing featured in the New York Times

jlspr

Stats show importance of high-quality photo and video in real estate

jlspr