Sale closings on single-family homes and condominiums in Whatcom County rose nearly 18 percent in July 2012 from the same month one year ago, according to new figures from the Northwest Multiple Listing Service.
Last month, 224 sales were on single-family homes and condos were closed in the county. July’s average sale price was $285,148—the median price was $254,800.
Whatcom County’s average sale price was below last month’s statewide average of $315,592, though Whatcom’s July median price was nearly identical to the statewide median of $254,900.
MLS directors reported general optimism for the state’s housing market, with favorable financing options and a reduced inventory supporting a rebound.
“Simple economics is at play, with an imbalance in supply and demand that is positively influencing both valuations and the ability for banks to efficiently dispose of the remaining distressed property inventory. All of this bodes well for a sustainable housing recovery,” said Joe Spencer, area director of Keller Williams Northwest Region and an MLS board member, in a press release.
Statewide, real estate brokers completed sales for 6,098 buyers in July 2012—a year-over-year increase of 17.7 percent, according to the MLS. July was the third consecutive month with closings reaching above 6,000. Prior to May of this year, the last time home sales reached that level was in September 2007.
The Northwest Multiple Listing Service is the largest such service in the Pacific Northwest. Its membership includes more than 21,000 real estate brokers and currently serves 21 counties in Washington state.