Housing update: Whatcom County home prices fall but are the fifth highest in the state
Home sale prices in Whatcom County and Bellingham decreased in February, although Washington state has the fourth most-expensive homes in the country.
Whatcom housing market
Whatcom County’s median home sale price has fluctuated throughout 2023. The median home sale price reached an extreme high of $702,500 on Nov. 20, the highest price recorded in 2023, according to Redfin Metro Area Data. Redfin, a residential real estate brokerage, uses home listings to generate metro area data.
In February, Whatcom’s median home sale price fluctuated, starting at $604,950 on Feb. 5, then jumping to $626,000 on Feb. 12, and then dropping to $580,000 on Feb. 19.
Jason Lee, a local broker with Windermere Real Estate in Bellingham, said Whatcom County’s median sold price across February was $580,000, an 4.3% decrease compared with January and a 5.5% increase compared with February 2023, Lee wrote in an email to The Bellingham Herald.
“Low local inventory was the consistent story for the first two months of 2024 in Whatcom County. About 30 percent fewer homes were available compared to the same time last year. If someone is contemplating buying or selling in the coming months it’s important to understand how our low inventory environment could affect their transaction,” Lee wrote.
As Whatcom County’s median home sale price was $599,900 according to Redfin, King County had the highest median home sale price of $865,000, and Adams County had the lowest at $50,000.
Whatcom County had the fifth-highest median home sale price.
Bellingham’s housing market
The median price of homes sold in February in Bellingham was $624,047, a 1.2% decrease compared to February 2023, according to data from Rocket Homes.
In February, Bellingham’s median sale price was $625,000, according to Lee of Windermere Real Estate, a 8.8% decrease compared with January and a 0.02% increase compared with February of last year, Lee wrote.
Washington state housing market
Washington’s median home sale price in February was $587,200, a slight decrease compared to January’s median price of $589,000.
Washington is the fourth-most expensive state in which to purchase a home, according to February 2024 data, following California with a median home value price of $739,200, Hawaii at $735,900 and Colorado at $591,400.
This story was originally published March 9, 2024 at 11:00 AM.
