Washington and Whatcom’s housing markets have shifted again. Here’s what has changed
Washington state and Whatcom County’s housing markets are “moving in a positive direction,” according to a news release from Northwest Multiple Listing Service.
The Washington state data from the latest Northwest MLS found that home prices increased about 5.9% since January statewide. However, the median closing price of $560,010 in Whatcom County is down 10% from the median of $619,975 in March 2022.
During March, 7,904 listings were added in the 26 countries in the Northwest MLS, including Whatcom County, down 30% compared to March 2022.
“Despite the year-over-year comparisons showing declines, the year-to-date trends indicate the market is moving in a positive direction, towards a healthy market, albeit at a lower velocity than last year,” John Deely, executive vice president of operations at Coldwell Banker Bain said in the press release.
“With interest rates dropping and less competition overall, people who have been sitting on the sidelines are jumping back into the market,” Deely said.
At the end of March, the MLS database had 8,007 active listings, about a 73% increase compared to March 2022 and up about 10.7% from February.
“The spring housing market, which usually kicks off in February, finally showed up in March when new listings increased by significant numbers, month over month,” Windermere Chief Economist Matthew Gardner said in the news release.
Whatcom County housing data
Here are Whatcom County’s MLS statistics for March 2023:
▪ 320 new single-family homes and condo listings added, compared to 390 added in March 2022.
▪ 446 active listings, compared to 218 in March 2022.
▪ 273 pending sales, compared to 322 in March 2022.
▪ 219 closed sales, compared to 276 in March 2022.
