Current market updates for Whatcom County

As we move through the final quarter of 2024, the real estate market in Whatcom County continues to show dynamic trends that are crucial for both buyers and sellers to understand. Whether you're looking to purchase your first home, sell your current property, or simply stay informed about the local real estate landscape, this update provides valuable insights into recent performance metrics and ongoing market conditions.

### Buyers

For prospective buyers in Whatcom County, the market has been somewhat challenging yet filled with opportunities. The number of available homes for sale has seen a slight uptick compared to earlier this year. As of , there are 660 homes or condos currently on the market as of the 30th of December 2024 compared to 531 units in December of 2023. This increase in inventory is a positive sign for buyers who have been grappling with limited choices over the past few months.

However, it's important to note that while inventory is increasing, so too is competition. Home sales pending have remained robust, indicating that well-priced properties are still being snapped up quickly. Currently, there are around 196 homes under contract, reflecting a healthy demand that underscores the need for buyers to act swiftly and decisively when they find a suitable property.

Mortgage rates have also played a significant role in shaping buyer behavior. While rates have seen some fluctuation throughout the year, they remain relatively low by historical standards. This environment continues to offer favorable financing conditions for those looking to secure a mortgage.

### Sellers

For sellers in Whatcom County, the market remains advantageous but requires strategic planning. The performance of home sales has been strong, with an estimated 190 homes sold in November alone. Espcecially encouraging compared to 161 homes sold November 2023  This steady pace suggests that demand remains high, providing sellers with an excellent opportunity to achieve favorable sales prices.

However, as inventory levels rise, sellers may face increased competition from other listings. Pricing your home competitively and ensuring it is in top condition will be key factors in attracting serious buyers quickly. Homes that are priced right and presented well are likely to benefit from the ongoing buyer demand and could potentially receive multiple offers.

Additionally, understanding local market trends can help sellers set realistic expectations and timelines for their transactions. Consulting with a knowledgeable real estate agent who can provide up-to-date data and insights will be invaluable in navigating this competitive landscape.

### Real Estate News

In broader real estate news affecting Whatcom County, several factors are contributing to current market dynamics. Economic indicators such as job growth and consumer confidence remain strong, supporting sustained interest in home buying despite rising home prices. Additionally, new housing developments are underway across various parts of the county, which could further influence supply and demand balances in the coming months.

Local government initiatives aimed at improving infrastructure and community amenities also play a role in enhancing the attractiveness of certain neighborhoods. These developments not only boost property values but also make Whatcom County an increasingly desirable place to live.

We keep a watchful eye on the federal reserve as they continue to lower the interest rates to help with home affordability.

### Conclusion

The real estate market in Whatcom County continues to evolve with notable trends impacting both buyers and sellers. An increase in available homes for sale provides more options for buyers but also necessitates prompt decision-making due to strong pending sales activity. For sellers, robust home sales performance signals a favorable environment but highlights the importance of competitive pricing and presentation.

Staying informed about these market updates can help you make more strategic decisions whether you're buying or selling a home in Whatcom County. As always, working with experienced real estate professionals can provide you with tailored advice and support throughout your real estate journey.