WHATCOM COUNTY, Wash. – Home prices did not show any sign of cooling off in the first three months of 2022.
In fact, Troy Muljat of the Muljat Group of Realtors says every community in Whatcom County saw double-digit increases in median price.
Ferndale led the way with a 30% jump over the past year.
Muljat says that’s not surprising as a lack of opportunities in Bellingham has buyers looking elsewhere.
“More opportunity has come up in other areas like Ferndale, Sudden Valley, Lynden and Blaine,” said Muljat. “And those markets, as there’s new construction and those homes come on the market, they’ve sold at larger prices and that has played a part in the increase of those number for the first quarter of this year.”
Bellingham is still the price leader in Whatcom County, with the average home selling for almost 8% over asking price.
Muljat says higher interest rates are starting to slow, and in some areas reverse, price increases in other parts of the country.
He doesn’t expect drastic change but says the local market could see the same effect in coming months.
Listen to the full interview with Troy Muljat on our Podcast page.
