It may be challenging to find a home to buy in Whatcom County these days, but those that are available are selling quickly.
Local real estate agents in August sold 424 houses and condominiums, according to data from the Northwest Multiple Listing Service. That’s a 15.5% increase compared to August 2019 and is easily the highest monthly total so far in 2020.
The big sales total is coming at a time when inventory is very low across Whatcom County. The multiple listing service estimates this area has an inventory of 1.08 months, meaning that if no new homes come on the market, the supply would be depleted in a little over a month. A balanced market between buyer and seller in terms of inventory is typically around six months.
With low inventory, the median price for homes continues to rise. In August the mid-point for sales was $429,625 in Whatcom County, up 11.6%…