2007, through the first quarter, is still holding its own
against activity levels and prices in 2006, although
this is primarily due to strong January sales. The number
of units sold in March 2007 relative to March 2006 declined
slightly in every area except Birch Bay/Blaine. The number
of residential units sold in Bellingham is up 5.6% over
1st quarter 2006, even though March sales were down 3.2%.
Average Bellingham prices increased by 3.1% in the 1st
quarter while Whatcom County as a whole ticked up 4.3%,
driven by strong increases in both Ferndale and Sudden
Valley.
Inventory levels are still much higher (555 units at the end of March 2007 compared
with 444 at the same time in 2006), but the number of homes
with pending sales have risen to near 2006 levels.
The surge in sales which is typical
of March definitely occurred, although it was weaker than
2006. However, the strong pending sales we are seeing may
bode well for the April and May numbers. Stay tuned, and
we will keep you posted.
If you would like information
about any specific areas, feel free to call us at (360)
527-8766 or email Lylene and
we will get right back to you. If you know someone who
would like these regular updates, just give us their
contact information and we would be happy to include them.
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