Bellingham Washington Real Estate
Bellingham Nick named as "City Of Subdued Excitement". Bellingham is one of the hottest real estate destinations in US.In the last few years the real estate market in the region has seen tremendous growth and the market just keeps on improving. Let us take a look at the real estate scenario in the region.
Location:
Bellingham, the county seat of Whatcom County is the largest city in Whatcom County and the tenth largest in Washington. Location has played a very crucial role in the development of Bellingham. It is situated on the Bellingham bay, protected by Lummi Island, Portage Island and Lummi peninsula. It lies to the west of Mount Baker and Lake Whatcom and to the north of Chuckanut Mountains and Skagit Valley.
Weather:
Bellingham boasts of a mild weather with average yearly high and low temperature of 14 and 5 deg Celsius. A typical rainy season lasts for 6 months. It witnesses a picturesque and mild spring followed by a pleasant summer. This makes Bellingham a preferred location to live.
Market:
Last few years have seen a steep price hike in real estate at Bellingham. The main reason is considered to be the interest of new citizens moving into the community.
The city has gained popularity among veterans due to its decent lifestyle. It is equally popular among youngsters as it is equipped with all the modern amenities. Rise in population led to the emergence of new property all over the city including Downtown, Fairhaven, Happy Valley, Cordata and Barkley neighborhood. The city provides wide range of housing options for all income categories. The regions growth as a fastest growing real estate market can be attributed to its growing reputation for good quality of life and affordability. It as also developed its image as one of the better residential places for the retired people.
January has seen strong sales in the real estate market of Bellingham. It helped the 1st quarter of 2007 to hold against the activity and prices in 2006.If we compare the month of March in 2006 with 2007, it can be seen that 2007 has seen a slight decline in sales in all region except Bay/Blaine. Bellingham prices rose by 3.1% as compared to 4.3% for Whatcom County as a whole. Inventory levels remained at 555 in 2007 as compared to 444 in 2006. It is interesting to note that the number of homes with pending sales have risen to 2006 level. Though March saw a typical rise in sales, it was less compared to the one in 2006. Owing to number of pending sales, April and May also registered a decent sale.
Overview:
Bellingham has all it needs to be a good residential zone. A pleasant weather and good quality of life made it a preferred location for the real estate buyers. This saw a boom in the real estate market in Bellingham. However rising prices took toll on the market, which saw a slight decline in housing sales of 2007 as compared to that of 2006. Still the figures of inventory look promising and a careful investment can always be a good bet in the region.
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