It’s time to answer the most common question we receive every week, “How is the Market?”  The way we answer that question is the more houses sell relative to the total number of houses available, the more active the real estate market is. In other words, if there are 10 houses for sale and 1 of them is “Pending” (meaning there is a signed offer on it)  that would not be an active market. Weekly, we record the number of houses on the market in a certain area and price range relative to the number than have signed offers on them and are pending. The higher the percentage the more active that portion of the real estate market is. We find Pending Ratios to be a better way to track the market in real time as property sales can take between an average of about 45 days to be recorded in our system.

Below is the pending ratio per Whatcom County Community. Click on the hyper link for each city to view the numbers in detail:

Bellingham: This week the Bellingham Pending Ratio is 16%, which is stable from last week’s rate.

Birch Bay & Blaine: This week the Birch Bay and Blaine Pending Ratio is 12%, which is stable from last week’s rate.

Ferndale: This week in Ferndale the Pending Ratio is 11%, which is stable from last week’s rate.

Lynden: This week in Lynden the Pending Ratio is 14%, which is up 1% from last week’s rate.

Sudden Valley: This week in Sudden Valley the Pending Ratio is 20% which is up 2% from the previous week’s rates.

In conclusion, it looks like Sudden Valley has the most active real estate market, with Ferndale, Birch Bay and Blaine having the least active real estate markets.

If you have questions on the Bellingham or Whatcom County real estate don’t hesitate to contact us, we track the market in a variety of ways and we would love to tell you all about them!

For more information on Bellingham Real Estate or to search for homes in the Bellingham and Whatcom County area visit www.JohnsonTeamRealEstate.com, your one stop Bellingham real estate and community information resource!