January may have been cold and icy, but Whatcom County real estate agents remained busy selling homes.
Last month the agents sold 224 houses and condominiums in this area, 40 more than the previous January, according to data from the Northwest Multiple Listing Service. The last time Whatcom County agents sold more than 200 houses and condos in January was in 2006, when 217 sales were tallied.
It’s also a high total given that inventory is very low. Whatcom County had only 230 new listings in January, nearly equal to the number sold. The NWMLS estimates the area has 2.3 months of inventory, meaning that’s how long the supply would last if no new listings came on the market. Typically a balanced market has six months of inventory.
With low inventory and a busy market, the prices of those homes sold continue to rise. The median price for single-family homes sold last month was $304,900, a 9.1 percent increase compared with January 2016.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.