Local housing market stays busy into late summer

Sale prices for single-family homes and condominiums in Whatcom County are on the rise, and closed sales are continuing to outpace the level of activity from last year, according to the latest reports from the Northwest Multiple Listing Service.

Local brokers reported 274 closed residential sales in August, a 4.6 percent increase from the same month last year.

Pending sales are also up, according to the NMLS. Whatcom County had 348 last month, up 6.7 percent from August 2012.

Home prices in Whatcom County are seeing healthy year-over-year increases, as well.

The county’s median price on closed sales of single-family homes and condos in August 2013 was $253,400, a 6.8 percent increase from the same month last year. The average price jumped 2.7 percent last month to $277,350.

Whatcom County’s home prices were below averages from the 21 counties the NMLS serves. Across those counties, the median sale price was $283,000. The average sale price was $348,736.

Housing markets tend to slow in August, yet the NMLS reported increased buyer demand and rising inventory levels across the state.

Whatcom County housing market activity, August 2013
Includes single-family homes and condominiums

Closed sales
Total: 274 (up 4.6 percent from 262 in August 2012)
Average price: $277,350 (up 2.7 percent from $270,178)
Median price: $253,400 (up 6.8 percent from $237,250)

Pending sales
Total: 348 (up 6.7 percent from 326 in August 2012)
Average price (list): $300,776 (up 13.5 percent from $265,013)
Median price (list): $259,900 (up 8.6 percent from $239,250)

Active listings
New: 484 (up 16.9 percent from 414 in August 2012)
Total: 1,722 ( up 4.8 percent from 1,643)
Average price: $372,785 (down 2.7 percent from $383,216)
Median price: $289,000 (up 3.2 percent from $280,000)

Source: Northwest Multiple Listing Service

Evan Marczynski, staff reporter for The Bellingham Business Journal, can be reached at 360-647-8805, Ext. 5052, or evan@bbjtoday.com

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