The average sales price of a home continues to be at least 20 percent higher than a year ago in Whatcom County’s largest communities, but the number of houses on the market is rising.

For the first nine months of 2005, the average sales price of a home in Bellingham was $319,947, 23 percent higher than the same period in 2004 according to data compiled analyzing the two Multiple Listing Service organizations serving the county.

The average sales price for the first nine months of 2005 and the percentage increase over a year ago for other communities are: Lynden, $308,136, 22 percent; Ferndale, $286,628, 25 percent; Sudden Valley, $268,651, 22 percent; and Blaine/Birch Bay, $264,164, 16 percent.

The average number of days on the market before a house is sold ranges from 39 days in Bellingham to 57 days in Blaine/Birch Bay.

The number of homes on the market is dramatically higher in Bellingham. There were 433 Bellingham residences listed for sale on Sept. 30, 74 percent more than on Sept. 30, 2004. Ferndale (54 percent), Sudden Valley (48 percent) and Blaine/Birch Bay (33 percent) also have housing inventories much higher than a year ago, while Lynden’s actually decreased by 6 percent.

Increasing inventory is creating more negotiation between buyers and sellers as offers tend to come in below list price. Until all parties adjust their expectations to fit the market shift we expect to see the percentage of accepted offers decline.

Here at The Johnson Team we track all the numbers constantly, from both Multiple Listing systems. Whether you are a buyer or a seller, you need to know what the market is doing – we know, and we will share. Call us – we think you will be glad you did.