Bellingham has shown up on another list of best places to live! Liveability.com ranked Bellingham #3 on a list of best places to live and work remotely.
The website notes Bellingham’s high speed internet, networking and community events, access to recreational activities, and easy commute to Seattle or the Canadian border.
And it turns out a lot of home buyers agree! We are getting flooded with buyers from all over that are moving to Bellingham for just that reason…they can.
The back-log of buyers in our area is at an all-time high. And with the lack of new construction in Bellingham, the Bellingham market is poised to stay “hot” all year.
Here is the latest stats below. The biggest indicator of relocation influence on the market stats is the uptick in sales between $750k to $1 million and between $1 million to $1.5. Having over 50% of homes selling in the first 30 days at these price points and having a shortage of inventory is an issue that should continue.
Home values are up 11% year over year, and we believe appreciation is still occurring. Our 2021 Housing Forecast predicts most of the appreciation will occur in the first 4 months of the year though. In the late spring and summer, an uptick in inventory should help level out the frenzy market we are experiencing right now.