Here’s how much Bellingham home prices will rise over the next year, according to Zillow
Bellingham housing prices nearly doubled between 2016 and 2022, according to Zillow’s Home Value Index, with the average home value peaking at just under $667,000 in July of 2022. But since then, prices have steadied.
Even after a 2.4% increase over the past year, Zillow lists the current average home value in Bellingham at $640,490, below 2022 levels. Will prices keep rising in 2024?
The website recently released its home value forecast for March of 2025. Here’s what it had to say about Bellingham.
Bellingham home value forecast
Zillow expects Bellingham house prices to rise by 1.7% by March 2025. That would put the average home value at $651,378, the highest it’s been since September of 2022. Over half of the increase is expected to occur between now and June, before it slows down over the second half of the year and into early 2025.
What about other cities?
On a national level, Zillow predicts that house prices will go up by 1.4% over that time frame to just over $359,000, putting Bellingham above the national average.
Bellingham’s forecast was similar to its Puget Sound neighbors. The Seattle area is expected to also see a 1.7% increase over the next year, while Mount Vernon prices are expected to go up by 1.9%. Across Skagit Bay, Oak Harbor prices are expected to rise by a more modest 1.3%.
Bellingham tied for the 11th highest expected increase out of the 20 Washington metropolitan areas listed in Zillow’s forecast.
This story was originally published April 30, 2024 at 11:43 AM.