Whatcom County’s home sale prices decrease. These cities had the most-affordable houses
Whatcom County’s median home sale price decreased in the second quarter, and Bellingham remains the most-expensive city in the county in which to purchase a home.
Whatcom County’s median home sale price was $600,000 in April-June, a 7.6% decrease compared to last year, according to a press release from Peter Ahn, co-owner of The Muljat Group in Bellingham.
In the county, 674 homes were sold this quarter, 18.3% fewer than last year, according to data from the Northwest Multiple Listing Service.
In May, Whatcom County had a median closing home sale price of $575,000, according to NMLS’s Whatcom County market statistics.
In Bellingham, the median sale price dropped 9.3% compared with last year to $712,000 this quarter. The city had 199 homes sold in the quarter, a 24.1% decrease compared with a year ago.
“The golden interest rate era brought significant increases in sales prices throughout the more sought-after neighborhoods in Bellingham whereas the prices did not increase as significantly and drastically in other areas,” Ahn wrote in the report.
“With the increase in mortgage rates over the past year, the adjustments in the market have been more pronounced in Bellingham than the smaller communities,” Ahn wrote.
Other Whatcom County cities increased in median home sale price, such as Lynden and Nooksack Valley.
The Mount Baker area had the most-affordable median home sale price at $349,950, and Bellingham was the most-expensive at $650,000.
Here’s how other Whatcom County cities’ median home sale prices compared:
▪ Lynden — $635,000
▪ Ferndale — $585,000
▪ Birch Bay and Blaine — $555,350
▪ Sudden Valley — $551,500
▪ Nooksack Valley — $524,900
“As for the rest of 2023, I expect sales to be consistent on a seasonal quarter to quarter basis as long as we don’t see a sharp increase or decrease in the interest rates,” Ahn wrote.
This story was originally published July 11, 2023 at 5:00 AM.
