BELLINGHAM, Wash. – Whatcom County home sales got off to a slow start in 2023.
Muljat Group co-owner Peter Ahn says just 423 homes sold over the past three months, a nearly 30% drop compared to the same period last year.
He largely blames higher interest rates for keeping buyers on the sidelines.
Despite fewer sales, the median price of homes sold only dipped slightly to about $584,000.
Ahn also notes that homes that were sold spent more time on the market than this time last year.
He says homes sold within about 16 days after being placed on the market in 2022, but that has grown to a county-wide average of 62 days this year.
Every area of Whatcom County saw fewer sales in the first quarter and drop-offs in price except Sudden Valley, which had slight increases in median and average sales prices.
Listen to the full interview with Peter Ahn on our Podcast page.
