Blaine - Birch Bay Real Estate Market Report for October 2008

The following is a quick analysis of the Blaine/Birch Bay real estate market for October 2008.

• There are currently 289 homes for sale.
• Homes are priced from $94,950 - $6,995,000
• Average Asking Price is $476,629 Average Days on Market are 154days
• Median Asking Price is $319,000 Median Days on Market are 108 days
• 22 Homes sold in October
• Average Listing Price $306,479
• Average Sold Price $283,700 Average Days on the Market 142
• Median Listing Price $258,745
• Median Sold Price $252,450 Median Days on Market 99
• Pending Sales Last Week: 0

Condo Analysis for Blaine/Birch Bay

• Currently Active Listings: 89
• Price range of active listings - $25,900 - $1,4875,000
• Average List Price $395,253 Days on the Market: 184
• Median List Price $315,000 Days on the Market: 132
• Sold in October: 2
• Average List Price: $574,475
• Average Sales Price: $511,500 Days on the Market: 129
• Median List Price:$574,475
• Median Sales Price:$511,500 Days on the Market: 129
• Ratio of List to Price: 96.2%
• Pending Sales Last Week: 1

Buyers: Interest rates are still low making

As you can easily see there is still quite a large discrepancy between the average price for a home presently on the market a $476,629 and the average sold price last month of $283,700. It looks like the $6,995,000 home is skewing that average price quite a bit.

Buyers: Interest rates are still low making now may be a good time to get in the market, depending on your circumstances. There are still plenty of homes to choose from and many homes 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.