April Market Snapshot
Spring has definitely sprung in the Bellingham market, but low inventories continue to frustrate buyers. Listings began to trickle on in March, but compared to one year ago the supply is down by almost 10%. Compared to two years ago the supply is down by over 46%! Number of sales shows that demand has remained about the same for the past two years, so the low supply just continues to push prices up. The March median price in Bellingham has climbed from $262,000 in 2014, to $312,000 in 2015, to $347,000 in 2016! Great news for homeowners, but no relief on the horizon for buyers.