Home prices listed at $300,000 or less getting full price offers

Whatcom County Housing News, July 2009

Home prices listed at $300,000 or less getting full price offers

A seller's market has been reported for homes listed under $300,000, however home prices have been consistently sliding since June 2006.

June 2006 buyer's paid 96% of original listed price.

June 2007 buyer's paid 95% of original listed price.

June 2008 buyer's paid 94% of original listed price.

June 2009 buyer's paid 92% of original listed price.

Discounts have been deeper in homes above $750,000 while homes under $300,000 are closer to original price.

Lowest inventory of homes priced under $300,000

Breaking down the 7.5 months of inventory for real estate in Whatcom County (the lowest since August 2007)

Houses priced under $300,000 had a 5.4 month of supply at the end of June, down from 7.2 months in April and 9.7 months in January.

Houses priced between $300,000 and $500,000 had an 8 month supply at the end of June, down from 30.2 months in January.

Houses priced more than $500,000 had a 24.4 months of supply at the end of June, down from 63.5 months in January.

*This information has been provided by Stewart Title of Bellingham*