As we deck the halls and prepare for the holidays, the Whatcom County real estate market is gifting us some intriguing numbers for November 2024! 📊 Whether you're thinking about selling, buying, or just want to stay informed, let's unwrap what these stats mean for the local housing market. 🎅🏽
The Gift of Growth: Key Residential Market Highlights 🎁
- New Listings: A 22.5% increase year-over-year (169 in November 2024 compared to 138 in 2023). Year-to-date, we’re up 5.7%. This means sellers are stepping into the market at a pace Santa himself would approve of! 🎅
- Pending Sales: Up 9.8% from last November, with 146 homes finding their future owners. Talk about holiday wishes coming true! 🎄
- Closed Sales: 160 homes closed this month—a 9.6% increase from 2023. It seems buyers and sellers are eager to wrap things up before the end of the year. 🏠
- Median Sales Price: $634,500 in November 2024, a 1.6% increase from last year. Year-to-date, we’re looking at an 8.3% boost, bringing the median price to $639,000. 🎁
- Average Sales Price: $666,004—because, why not aim for lucky triple sixes as we end the year? That’s a modest 1.2% increase from November 2023 and a healthy 7.6% rise year-to-date at $701,001. 💸
- Inventory Levels: Up 15.3%, with 521 homes available, giving buyers more to choose from this holiday season. 🎄
- Months Supply of Inventory: 2.7 months (+12.5%), signaling a shift toward a more balanced market, but we’re still favoring sellers overall. 🏡
The Condo Market: Wrapping Up Smaller Packages 🎁
- New Listings: A whopping 88.9% increase in November 2024 compared to last year, with 51 condos hitting the market. Year-to-date, new condo listings are up 7%. 🏙️
- Pending Sales: Up 26.1%, showing renewed interest in condos as buyers embrace the simplicity of turnkey living. 🏢
- Closed Sales: Down 32.3% from last November, with only 21 units sold. Year-to-date, closings are also down 6.5%. Perhaps people are saving their big moves for the new year? 🎆
- Median Sales Price: $395,000 (+5.3% year-over-year). Year-to-date, prices are up 9.2% to $409,500. Affordable, but rising! 📈
- Inventory Levels: Up 48.5%, with 147 units available—plenty of options for holiday condo hunters. 🎄
- Months Supply of Inventory: At 4.1 months (+51.9%), the condo market leans toward buyers, giving them room to negotiate for that perfect urban retreat. 🏢
What Does This All Mean for You?
- Sellers: The market is still favoring you! With prices up and inventory climbing at a healthy pace, now is a great time to list. Serious buyers are out there, and homes are still moving even as we head into winter. ❄️
- Buyers: While the market remains competitive, rising inventory gives you more choices, especially in the condo space. If you’ve been on the fence, consider taking the leap now before the spring rush. 💡
Real Estate, Like Christmas, Is About Timing 🎄
If you’ve been dreaming of your next big move, don’t wait for the New Year to make it happen. Whether you’re searching for your forever home, downsizing, or looking to invest, now is the perfect time to take advantage of this evolving market.
As your local expert, I’m here to help you navigate the numbers, understand the trends, and make your real estate dreams a reality. Let’s talk about how we can make your holidays extra special this year! 🎁
📞 Contact me today to unwrap the perfect home for you this holiday season!
(360)-220-7523
Happy Holidays from Your Local Real Estate Expert 🎅
This holiday season, I’m grateful for all of you—clients, colleagues, and community members who make Whatcom County an incredible place to live. If you’re thinking about making a move, I’d love to be part of your journey.
Cheers to a wonderful holiday season and a prosperous New Year! 🎄✨
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