June Real Estate Statistics for Bellingham’s South Hill Neighborhood

June saw 27 homes available for sale in Bellingham’s South Hill Neighborhood and 2 sales.  The median sale price was $484,750, down 18.62% from May.  4 of the homes for sale were listed during the month, and there are 4 currently under contract to sell.   The charts below show changes in price and inventory in the South Hill Neighborhood over the past 18 months.

Historic median price of sold and active inventory in the SOUTH HILL neighborhood.

Historic Active Listings Compared to # of Homes Sold in the South Hill Neighborhood

It is obvious that buyers have many choices in the current market, since there is currently a 14 month supply of inventory.  The South Hill neighborhood is caught in the soft sales of the upper end of the market.  Owners who want to sell need to price aggressively relative to their specific location and the condition of their home.   The good news is that inventory is down a bit from the peak in 2008.

This market opens opportunities for buyers who might have been just a bit underqualified for a home on South Hill in the past.  A key factor lurking out there, however, is interest rates, which may well rise if the recession is indeed bottoming.  This could effectively wipe out the lower prices for a current buyer.

If you would like more specific information on homes in the South Hill neighborhood, don’t hesitate to contact us.  If you would like to know how your home anywhere in Whatcom County fits into the market, request a free online estimate of value. 

If your neighborhood association would like a presentation on real estate activity in the neighborhood, we would be happy to make arrangements to meet with you.

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!