In another sign of Whatcom County’s improving housing market, recent numbers released by the Northwest Multiple Listing Service showed a 15.9 percent increase in sales of single-family homes and condos in December 2012 compared to the same month the previous year.
The MLS stats also showed a 16.4 percent increase in the category’s median price during the same period, as well as a 17.6 percent increase in the average price of homes sold in the county last month.
All total in western Washington, MLS members reported 5,267 closed sales on single-family homes and condos in December 2012, an 11.1 percent increase from the previous year. Closed sales around the region from all of last year jumped 14.8 percent from closings reported in all of 2011.
Brokers with the listing service noted the number of offers made by buyers greatly outpaced the number of homes on the market across the region in December. This imbalance is driving up prices and depleting an available-home inventory that has already been worn thin, they said.
But brokers cautioned against sellers asking unreasonable prices for their homes.
They also cited distressed properties, rising rents and re-engaged investors as factors that will likely impact future activity in the market, according to an MLS press release.
The Northwest Multiple Listing Service, based in Kirkland, Wash., includes more than 21,000 real estate brokers in 21 counties in Washington state.
By the numbers: Whatcom County
Closings on single-family homes/condos
December 2012: 197
December 2011: 170
Increase of 15.9 percent
Year-to-date 2012: 2,400
Year-to-date 2011: 2,089
Increase of 14.9 percent
Median price on SFM/condos
December 2012: $255,000
December 2011: $219,000
Increase of 16.4 percent
Year-to-date 2012: $241,950
Year-to-date 2011: $234,000
Increase of 3.4 percent
Average price on SFM/condos
December 2012: $278,378
December 2011: $236,789
Increase of 17.6 percent
Year-to-date 2012: $271,747
Year-to-date 2011: $236,789
Increase of 2.3 percent
Regional closings in December 2012: 5,267
Regional median price in December 2012: $255,000
Regional average prices in December 2012: $322,252
Source: Northwest Multiple Listing Service. Numbers are reported by real-estate brokers who are members of the MLS.
Contact Evan Marczynski at firstname.lastname@example.org or call 360-647-8805.