Home sales stabilizing, but prices still dropping

The number of housing sales in Whatcom County improved in June compared to a year ago, but median prices still are taking hits from the recession, foreclosures and short sales, according to a real-estate report released today by Lylene Johnson of The Muljat Group.

The total number of Whatcom County residential units sold in June rose 11.9 percent in comparison to a year ago, Johnson said. 

“The continued rise in pending sales plus a drop in active listings indicates that sales volume should remain stable this summer,” Johnson said.

Johnson also noted that county sales prices remain fairly close to the list prices, averaging 96 percent of list prices in this year’s second quarter in comparison to 97 percent in 2007 and 2008 and 98 percent in 2006.

“Most sellers are being fairly realistic about the current value of their homes,” she said.

Still, the median price of housing units sold in Whatcom County during the second quarter slipped 5.4 percent to $265,000, bringing it to levels last seen around 2005. Johnson noted, however, that people who purchased their homes before 2005 likely still have achieved increases in their value.

Within Bellingham, the median price of a home dropped 9.9 percent in the second quarter to $295,000. 

For more information, call Lylene Johnson at (360) 527-8766.

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