The first quarter of real estate sales in Bellingham and Whatcom County ended on a mixed note, with the number of single family homes sold up sharply in most areas from last year, but with average and median prices continuing to drop.  January sales were down year over year, but sales picked up in February and were particularly strong in March in most areas.

-  25% more homes sold in Bellingham during March 2010 than in March 2009.  In Whatcom County as a whole, that increase was almost 32%, with every area at least matching last year’s sales, and most increasing.

-  Both average and median sale prices for single family homes in Bellingham dropped almost 20% from March 2009 to March 2010 (more about that below).  

-  Average and median sale prices for single family homes in Whatcom County as a whole from March to March were down about 11.5%, with Lynden and Birch Bay bucking the trend and posting increases.

- The strongest March market in Whatcom County in terms of residential units sold relative to a year ago was Lynden, which has been struggling over the past few months.  It more than doubled the number of homes sold, the average price was up 9.6% and the median rose by .7%. 

- The two areas in Whatcom County with sales challenges in March were Nooksack Valley & Mt Baker.  Both posted unit sales equal to last year, but  median & average prices were down from 17.5% to 26%.

The chart below shows unit sales, average sale prices and median sale prices over the past 3 years in Whatcom County as a whole.

Now the puzzler:  With more demand for homes (25% more sales in Bellingham, 32% more in all of Whatcom County), why did average and median prices drop (around 20% in Bellingham and 11.5% in all Whatcom County)?  Did your house drop 20% in value over the past year?  Probably not, but the table below will help to demonstrate the dangers inherent in depending on average or median numbers.

To view the complete real estate statistics and our predictions on the market visit our March Real Estate Update page on our website www.JohnsonTeamRealEstate.com/marketupdate.cfm

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!