Bellingham home prices have increased by 127% over the last decade; median exceeds $650k
Bellingham home prices have fluctuated throughout the past years, but compared to 10 years ago, prices have soared by more than 120%.
A recent report by Construction Coverage, a research company focused on construction services, software and insurance, examined cities with the largest home price growth over the last decade, including Bellingham.
Bellingham’s median home price increased 127.9% from 2014 to 2024, jumping from $287,729 to $655,758 over the 10-years period.
Median home prices also increased across the United States, following economic recessions and the COVID-19 pandemic.
“Over the past decade, which has included recoveries from both the Great Recession and the COVID-19 recession, U.S. home values grew by more than 95%,” the report states.
“After surging an unprecedented 40% in two years during the 2020 recession, home price growth has since stabilized. Even so, high mortgage rates and persistent inflation have left would-be homebuyers struggling with affordability and limited purchasing power,” the report stated.
Jason Lee, a local Windermere Real Estate broker, confirmed Bellingham’s rapid home price increase by analyzing median home prices and inventory levels.
“With our unique geographical constraints, and demand for homes for locals and people relocating, I expect Bellingham home values to continue to appreciate and outperform the national averages,” Lee said.
“Now and into the foreseable future there are more people that want to live in Bellingham than there are homes. I don’t see this changing anytime soon,” Lee said.
