Business Blog

Back to business with some local real estate news

Apologies for the lack of posts lately here on BizBlog, I was out of town for the past week.

Today is one of those catch-up days, so I'll try to get some posts up on local business news I find while plowing through email. Here's an update on Whatcom County real estate:

Whatcom County residential sales picked up in May, but are still off last year's pace.

Last month local real estate agents sold 260 single-family homes and condominiums locally, up 37 percent compared to April. While up compared to April, Whatcom residential sales were down 6.8 percent compared to May 2013.

The median price on those units sold was $260,500, up 4.2 percent compared to May 2013 according to the data from the Northwest Multiple Listing Service. The NWMLS estimates Whatcom County has six months of housing inventory, which is typically considered the level needed for a balanced market between buyers and sellers.

In the 21 Washington counties the NWMLS serves, 7,187 houses and condos sold last month, down 2.2 percent compared to May 2013. The months of inventory was estimated to be 3.3 months.

In Skagit County, 159 houses and condos sold last month, up 6.7 percent compared to a year earlier.