Whatcom County, being the desirous place to call home that it is hasn't lost a whole lot of it's Market Value.
According to the January numbers...we've only come down 7% over last years home values. There is a 20% of increase in time that a property sits on the market. Inventory is actually down, due the fact that sellers are only listing their properties if they are motivated and willing to price accordingly...my guess is they are waiting for better days.
There's two ways to look at this and the potential for two different outcomes. According to the theory of supply and demand...prices should hold stable or increase, when supply shrinks up...demand increases.
On the other hand, when affordability is low, people lose their jobs left & right, lenders seize lending, among other doom and gloom issues...will better days really come? By waiting to sell, owners could be risking a dollar to only see sharper declines in the future.
In my opinion prices must come down in our area...it's only a matter of time. Having said that..It's a GREAT TIME TO BUY & SELL REAL ESTATE!
Buy with your discount built in...and there are many great deals out there.
Sell Your Property now or you may lose more value!
A look at the numbers...