Ferndale Real Estate Market Report for July 2008

Ferndale Real Estate Market Report for July, 2008

The following is a quick analysis of the Ferndale real estate market.

• There are currently 248 homes for sale.
• Homes are priced from $112,500 - $1,950,000
• Average Asking Price is $432,966 Days on Market are 95 days (or about 3 months)
• Median Asking Price is $369,000 Days on Market are 72 days
• Homes Pending this week: 5
• Homes sold in July: 30
• Average Listing Price $302,861
• Average Sold Price $296,995 Days on the Market 90
• Median Listing Price $284,950
• Median Sold Price $276,500 Days on Market 54

Buyers: Interest rates are still low making now is a good time to get in the market. There are still 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
• Have 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 Ferndale real estate or living in Lynden visit my website at BellinghamProperty.com or give me a call.