A recent market comparison for sales activity from 2010 to October 2011 featuring residential and condominium sales combined found the following;
- Sold units in Whatcom County for 2010 was 1855 with an average price of $276,522
- Sold units in Whatcom County for 2011 (thru October 31) was 1744 (down approx. 6%) with an average price of $269,816 (down approx. 2%)
- 199 Bank Owned homes sold in 2010
- 223 Bank Owned homes have sold this far in 2011
- In 2010, Lynden sold 171 homes with an average sales price of $277,024
- In 2011, Lynden sold 176 homes with an average sales price of $276,635 (down less than 1% from last year and an increase in homes sold!)
Is our market finally reaching the bottom? Interest rates are still at an all time low and that’s only going to help encourage buyers to make that purchase and eventually raise the ‘bottom’.