July Real Estate Statistics for Bellingham’s Alabama Hill Neighborhood

July saw 26 homes available for sale and 6 homes sold in Bellingham’s Alabama Hill neighborhood. The median sale price was $318,000, up 3.14% from June. 8 of the homes for sale were listed during the month, and there are currently 8 under contract to sell. It is always good to have the number coming on and the number going off the market somewhat equivalent – it indicates stability. The charts below show changes in price and inventory in the Alabama Hill neighborhood over the past 18 months.

Historic median prices of sold and active inventory in the Alabama Hill neighborhood

The Alabama Hill neighborhood is doing better than many other areas, with just 5 months of inventory available (6 months is considered a stable market), and a median price that has increased since March. It is benefiting from the strong demand in the lower price ranges of the market, spurred in part by the $8000 tax credit for first time home buyers as well as low interest rates.

It looks as though the tax credit will be extended beyond its currently scheduled demise date of December 1, but there are some concerns that interest rates may rise if the recession has, indeed, bottomed out. The Alabama Hill neighborhood’s large lots and well kept homes should continue to attract buyers in the near future.

If you would like more specific information on homes in the Alabama 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 esate 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!