The Whatcom County housing market saw only minor shifts in September 2024 compared to the same period last year. The months of supply remains low, leading to an increase in the median price. Here are the highlights:
Median Price: The median home price increased by 10.3%, rising from $570,000 in September 2023 to $628,500 in September 2024. This reflects ongoing price appreciation in the market.
Median Price (3-Month Average): Using a 3-month average for a broader and more accurate perspective, the median price rose by 11.9%, reaching $653,641.
Homes For Sale: There was a 9.4% increase in available inventory, with 607 homes for sale last month.
New Listings: The number of new listings remained relatively unchanged from last year.
Home Sales: The number of homes sold also saw an increase of 9.1%, with 228 homes sold in September 2024.
Pending Sales: The number of pending sales had spiked in August only to come back down considerably. The boost in pending sales was an anomaly in the data that happens in a smaller market.
Months of Supply: The market's months of supply remained unchanged at 2.7 months, indicating the market is still tight, favoring sellers.
This update reflects a strong market with continued price growth, limited supply, and homes selling more quickly. The increase in home sales and slightly more listings suggests sustained demand despite higher prices.
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