Local home sales continue rising; median price drops

This year’s lively activity in Whatcom County’s residential real-estate market looks to be continuing into the fall, as total closed sales in October rose 15.7 percent compared to last year, according to the latest stats from the Northwest Multiple Listing Service.

The average sale price on homes also rose slightly from $278,791 in October 2012 to $282,221 in October 2013, an increase of 1.23 percent. However, the market’s median sale price dropped by 3.35 percent within the same time period, sliding from $257,625 in October 2012 to $249,000 in October of this year.

Figures from the NMLS summarizing October’s activity across the 21 Washington state counties the organization serves showed year-over-year improvement in inventory (up 5.5 percent), double-digit increases in the volume of closed sales (up 12.5 percent), as well as  moderate increases in selling prices (up 7.7 percent).

Whatcom County’s 5.33 months of home inventory was above a regional average of 3.02 months. Home inventories between four and six months generally indicate a balanced market, according to the NMLS.

Whatcom County real-estate data, October 2013
Includes sales of single-family homes and condominiums

Total closed sales
October 2013: 280
October 2012: 242
Change: 15.7 percent increase

Closed sales, average price
October 2013: $282,221
October 2012: $278,791
Change: 1.23 percent increase

Closed sales, median price
October 2013: $249,000
October 2012: $257,625
Change: 3.35 percent decrease

Total pending sales
October 2013: 276
October 2012: 312
Change: 11.54 percent decrease

Pending sales, average list price
October 2013: $270,577
October 2012: $266,837
Change: 1.4 percent increase

Pending sales, median list price
October 2013: $250,000
October 2012: $235,000
Change: 6.38 percent increase

Total active listings
October 2013: 1,440
October 2012: 1,353
Change: 6.43 percent increase

Active listings, average list price
October 2013: $365,047
October 2012: $383,853
Change: 4.65 percent decrease

Active listings, median list price
October 2013: $283,500
October 2012: $278,500
Change: 1.8 percent increase

Source: Northwest Multiple Listing Service

 

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