Real estate prices increase in Whatcom County: Bellingham’s median home hits $700k
Median home sale prices in Whatcom County increased in October, while Washington remains the fourth most-expensive state in which to buy a home.
Whatcom housing market
Whatcom County’s median home sale price has fluctuated throughout 2023. The median home sale price reached an extreme high of $682,000 on Jan. 2, the highest price so far this year, according to Redfin Metro Area Data. Redfin, a residential real estate brokerage, uses home listings to generate metro area data.
In October, Whatcom’s median home sale price fluctuated, starting at $553,000 on Oct. 2, then rising to $589,900 on Oct. 16.
Jason Lee, a local broker with Windermere Real Estate in Bellingham, said Whatcom County’s median sale price was $555,000 in October, a 0.7% increase compared with September and a 3.7% increase compared with October 2022, Lee wrote in an email to The Bellingham Herald.
“Whatcom County’s inventory levels remained steady in October with an average of 640 homes & condos available each week,” Lee wrote in an email.
Whatcom County home prices were up 6.9% in September 2023 compared to 2022, according to Redfin’s Whatcom County Housing Market Trends.
As Whatcom County’s median home sale price is $589,900, Island County had the highest median home sale price of $957,750, and Skamania County had the lowest of $145,000.
Bellingham’s housing market
In Bellingham, Zillow home values decreased throughout early 2023, then began to increase in May. The median Zillow home value in Bellingham was $655,866 across the month of September, up from $654,178 in August. Zillow is a real estate company that collects data on real estate, apartments and home values.
In October, Bellingham’s median sale price was $703,000 according to Lee of Windermere Real Estate, a 12.5% increase compared with September and a 27.8% increase compared with October of last year, Lee wrote.
Although Bellingham’s home prices increased, “53% of all homes closing last month sold below list price, 25% of homes sold at list price and 22% of homes sold over list price,” Lee wrote.
Washington state housing market
Washington is the fourth-most expensive state in which to purchase a home, according to October 2023 data, trailing only California with a median home value price of $792,900, Hawaii at $696,100 and Massachusetts at $624,600.
Across Washington state, home prices have increased by 7.79% between February and August, as August reached a median home value price of $614,500, according to Redfin.
