Whatcom County Housing Market Reaches Balanced Conditions for the First Time in Nearly a Decade

Recent data indicates that the Whatcom County residential market has entered balanced territory, a shift not observed in almost ten years. Closed sales are down and inventory is up. Buyers are positioned for more options in 2025.

Inventory

As of April 2025, active residential listings have increased significantly compared to the past three years. Current inventory levels are approaching those seen in 2018 and 2019, providing greater market depth and reducing upward pricing pressure.

Closed Sales

Transaction volume is trending slightly higher than 2023 but remains below peak levels from 2021–2022. This suggests a normalization of buyer activity rather than a market contraction.

Median Price

The median sale price has remained stable in early 2025, averaging around $624,000 based on a three-month moving average. This indicates a pause in appreciation following rapid gains in prior years.

Months of Supply

Months of supply has been at or around 3 months for all of 2025 — the commonly accepted threshold for a balanced market. For comparison, the metric stayed below 2.0 from 2020 through mid-2023, consistent with a strong seller’s market.

Conclusion

Current trends reflect market equilibrium. Supply and demand are more closely aligned, with neither buyers nor sellers holding a clear advantage. Of course, the trends in every neighborhood don't perfectly follow the broader market.