Blaine Real Estate Market Report for July 2008

The following is a quick analysis of the Blaine real estate market for July 2008.

• There are currently 353 homes for sale.
• Homes are priced from $94,900 - $3,500,000
• Average Asking Price is $461,792
• Average Days on Market are 133 days
• Median Asking Price is $324,950
• Median Days on Market are 91 days
• 38 Homes sold in July
• Average Listing Price $289,257
• Average Sold Price $279,902
• Average Days on the Market 127
• Median Listing Price 249,450
• Median Sold Price $239,500
• Median Days on Market 78
• 8 Homes went Pending this week

As you can easily see there is quite a large discrepancy between the average price for a home presently on the market a $461,792 and the average sold price last month of $279,902. It looks like the $3,500,000 home is still skewing that average price quite a bit.

Buyers: Interest rates are still low making now is a good time to get in the market. There are plenty of homes to choose from and lots have been on the market a long time so there are some motivated sellers out there who need to sell their homes.

Sellers: There is still a lot of competition right now and if you don't want your home to sit on the market without an offer here are a few bits of advise:

• The most important thing you can do is price your home right, have your real estate agent do a CMA and price your home aggressively, that is in the lower range of similar homes if you want a quick sale
• Hava a pre-inspection done to your home and fix any problems
• Give your home curb appeal
• Offer a Home Warranty if it is an older home
• Get rid of clutter, start clearing out your things, even if you have to put them in storage.
• Think about staging your home, get advise from a staging professional or at least your agent.

If you would like some info about Blaine real estate or living in Blaine visit my website at BellinghamProperty.com or give me a call.