Bellingham WA Luxury Homes

January 5, 2009

Bellingham WA luxury homes, for purposes of this article are defined as homes having value in excess of $1 million dollars. Located on the shores of Bellingham Bay and Lake Whatcom, it's no surprise that over 90% of Bellingham's luxury homes have a direct connection with the water. In fact, as of January 2009, the total inventory of Bellingham luxury homes was 36 homes. Of those, 34 homes had waterfront access or at the very least, a view of the water.

According to the Northwest Multiple Listing Service, prices for Bellingham luxury homes in January 2009 ranged from $1 million to $3.575 million dollars, with the average price being $1,655,372. The average price for non-luxury real estate listed during this same time was approximately $415,836.

In terms of buying or selling luxury homes in Bellingham, there are a few notable statistics that differ from those of non-luxury homes. First, it generally takes longer for a luxury home to sell. The average cumulative days a luxury home is on the market is 257, compared with approximately 136 for non-luxury homes. The average number of bedrooms for a Bellingham luxury home is 4 and the average number of bathrooms is 3.75. In contrast, the average number of bedrooms and bathrooms for non-luxury homes in Bellingham is 3 and 2.5 respectively.

The average size of a Bellingham luxury home is 4,036 square feet compared with the average 2,238 square feet of a non-luxury home. This statistic leads to perhaps the most valuable information for a luxury home buyer or seller. That is, the average cost per square foot of a luxury home. As of the posting of this article, the price per square foot of a Bellingham luxury home is $452 as compared to $186 per square foot for a non-luxury home, a difference of 243%! Luxury does have its costs.

For more information about Bellingham luxury homes, please feel free to contact Team Househunt, in Bellingham, WA.

Making your investment count!

Reed Gillig, Realtor

360-319-9305