Listings up, closings down for Whatcom's housing market

New listings of houses and condos for sale in Whatcom County rose in May, but local sale closings dropped by 6.81 percent compared to the same month in 2013, according to the latest report from the Northwest Multiple Listing Service.

Housing prices, however, are rising locally.

The average sale price for a house or condo in Whatcom County was $298,871 in May, up from $290,195 last year. The median price was $260,500 in May, up from $250,000.

Brokers who report to the NMLS across western Washington said the region’s housing markets are seeing upward trajectories. But inadequate inventory in certain locations and price ranges still contributes to a difficult market for some sellers and buyers.

Whatcom County had a 5.98-month supply of housing for sale in May, according to the NMLS. That’s above local inventory levels from May of last year, when the county’s supply was a 5.19 months.

An inventory between 4-6 months generally indicates a balanced market.

Whatcom County housing market, May 2014
Includes single-family houses and condominiums combined

Closed sales—Units: 260 (Annual change: 6.81 percent decrease); Average sale price, May 2014: $298,871, May 2013: $290,195; Median sale price, May 2014: $260,500, May 2013: $250,000.

Active listings—New: 587 (Annual change: 5.96 percent increase); Total active: 1,555 (Annual change: 7.39 percent increase); Average price, May 2014: $382,636, May 2013: $385,970; Median price, May 2014: $300,000, May 2013: $295,000.

Pending sales—Units: 402 (Annual change: 1.01 percent increase); Average list price, May 2014: $299,564, May 2013: $297,006; Median list price, May 2014: $265,000, May 2013: $259,900.

Source: Northwest Multiple Listing Service

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