Which do you think appreciated at a higher rate since this time last year? Bellingham or Seattle?
When you look at the average home sale in King vs Whatcom County, it’s not even close.
All of King County appreciated at 13% versus our 7% in Whatcom County. The average home is now $353,603 in Whatcom, and a whopping $657,446 in King County.
But here’s where it gets interesting.
Even though our appreciation in Whatcom County is almost half of King County, our days on market went down by half from 56 average days on market to 28.
King County’s percentage of days on market only went down from 20 to 17 days on market.
A 50% drop of days on market is significant, the canary in the coal mine, so to speak.
Can our appreciation be far behind? It will be interesting to see if falling days on market can predict a rise in appreciation.
Now let’s dial it in from county-wide to Seattle versus Bellingham. When you look at Seattle versus Bellingham in terms of price appreciation, the race is a dead heat, with Bellingham pulling ahead by 1%! Surprise!
Seattle: 11% appreciation, Bellingham: 12% appreciation.
Here’s what I think of when I see these numbers…Bellingham and Whatcom County are the better investments. More room to go up as the days on market fall.
You heard it here first!