So the short and long of it is, the market is absolutely bonkers right now in Bellingham and throughout Whatcom County. In 17 years we have never had stronger demand mixed with lower supply.
The culprit:
1) Low interest rates (now in the 2’s averaging 2.5 to 2.75%).
2) The back log of buyers that are trying to make a move after holding off March through June.
3) A major surge of Seattle buyers entering our market, primarily due to the fact that many Seattle jobs allow you to work from HOME.
All signs point to this continuing well in to the fall. I would expect sales to remain steady, and upward pressure on pricing, with just a typical slow down around the election and through the holidays.
For now, this is really a true “V” recovery going on in our Real Estate market.
