July Market Snapshot

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In recent newsletters I’ve written about measuring the supply of available inventory in the market by analyzing the Months of Inventory (MOI), based upon closed sales. As a rule of thumb, an inventory level of less than three months indicates a strong seller’s market, while an inventory level greater than six months indicates a buyer’s market. It has been well documented that Bellingham has been suffering from a lack of listings, but how about the rest of the County? Here’s how things stack up:

Whatcom County 2.7 MOI

Bellingham 2.1

Sudden Valley 1.6

Blaine / Birch Bay 3.9

Ferndale / Custer 2.4

Lynden 1.8

Meridian 3.0

Mt Baker / Deming 3.9

Nooksack Valley 2.4

Overall things are pretty tight for buyers. There are a few areas in the County trending into neutral territory, but most of the region remains a seller’s market. Buyers tired of bidding wars in Bellingham might find some relief by driving north or east, but just a little bit. Some years we see a little summer lull in demand as school gets out and many buyers go on vacation. Next month’s data will show if that trend might appear in 2016. If so this summer might be the best time for serious buyers to shop while others are out playing.