According to statistics from Northwest Multiple Listing Services, inventory in Whatcom County has decreased when compared to 2011. From Jan-Sept 2011 there were aprx 2950 new listings in Whatcom County and from Jan-Sept 2012 there were aprx 2814. On the other hand, pendings and closed sales have risen during those same comparable time frames. For 2011, there were 2005 pendings total and for 2012 there were 2196 (from Jan-Sept). For 2011 there were 1378 closed sales and for 2012 there were 1520 (from Jan-Sept). These are just Residential listings and do not include commmercial, land, or multi family.
According to same statistics for same time period, Average price of Active listings, Median price of Active listings, Average price of Pending sales, and Average price closed sales are all indicating a slight increase (with the highest increase being in average Active listing price).
What does all this mean?
~If you are a buyer, it is time to move in or move on. If you wait too much longer, you will very likely miss the perfect storm we are experiencing in today’s market of home prices and interest rates (which are still at record lows).
~If you are a seller, it is a good time to put your home on the market if you are looking to make a move. Not only will you get more for your home now than you would’ve in the last few years, but since inventory is down you may be entering a much more competitive market (depending on your neighborhood, house, and price).
For more information, to find out what your home is worth or how competitive the market you are currently shopping in is, please contact me (Danielle) anytime!
~ 360.483.6490