Inventory Levels Increased But Remain Low - Bellingham Is Still A Sellers' Market
< Map of Whatcom County, Broken Down by Zip Code
Bellingham & Whatcom County Market Data
Use my Language of Real Estate page to help you understand the market data in the reports below.
OCTOBER 2025 ZIP CODE 98225 MARKET REPORT
I like to periodically share this data for zip code 98225, a portion of Whatcom County. See the map above to see what area in Bellingham is covered by this zip code. I consider 98225 to cover the majority of the central area of Bellingham, including neighborhoods to the west of I-5, starting at Edgemoor to the south and heading north towards the airport. This zip code does not include Chuckanut. For as long as I have checked, inventory levels in this zip code are always at least a bit lower, and sometimes significantly lower than seen for all of Whatcom County. Likewise, homes tend to sell more quickly for a higher sales price.
Inventory levels for this zip code have remained stable - while the number of homes for sale is up 25% compared to last year, at the increased sales activity rate, the months supply of inventory is nearly identical in October 2025 compared to October of 2024. New listings are up 27% compared to the same time period last year, but likewise pending sales activity is up 25%. Days on market has definitely increased, up by 47%. The average sales price has increased compared to a year ago more greatly than for all of Whatcom County (which in some months of 2025 showed a decline, compared to the prior year).
OCTOBER 2025 WHATCOM COUNTY MARKET REPORT
While new listings are higher in October 2025 compared to 2024 (18%), pending and sales activity have declined slightly compared to September. This is what we typically see as exit the busy Spring/Summer listing and buying season. Inventory levels overall declined slightly and days on market remain steady at 43 days.
SEPTEMBER 2025 WHATCOM COUNTY MARKET REPORT
Inventory levels saw a very small decline in September, in spite of significantly more homes being listed in September than we saw a year ago - a 28% increase! But we also saw more homes pend in September, as well as slightly more homes sold. Days on market continue to climb. What will October bring?
AUGUST 2025 WHATCOM COUNTY MARKET REPORT
Sales activity in August was very similar to July. New listings in August were up only 6% compared to August of 2024. Inventory levels have remained level. New listings in August of 2025 compared to the prior year are up 6%, compared to a difference of 10%, comparing July of 2025 over 2024. But closed sales activity has dropped more compared to both the month and year prior. Pending sales have also slowed slightly - buyers are hesitating (interest rates aren't helping), while inventory levels continue to climb. But we are still considered to be a Seller's Market, with less than 6 months of inventory. Both the median and average sales price is down compared to a year ago.
JULY 2025 WHATCOM COUNTY MARKET REPORT
While new listings declined, inventory levels continue to climb, compared to a month ago. Sellers appeared to list their home in the market more quickly than last year. New listings in May were 15% more than May of 2024, and new listings in June were 29% more than June of 2024. But in July we see new listings activity was only up 10%, compared to a year ago. Days on market dropped compared to May and are similar to what we saw a year ago in July. Closed sales remained steady, but pending sales have dropped in July compared to June. It will be interesting to see what happens to sales activity in August. The number of pending and closed sales in July of 2025 were even with those in July of 2024, but with the inventory of homes for sale up 36% compared to a year ago, we are seeing months supply of inventory has increased 26%, compared to a year ago.
JUNE 2025 WHATCOM COUNTY MARKET REPORT
Inventory level increased very slightly from a month ago. While new listings may have increased 29% from last year, they have dropped slightly compared to May. Days on market have increased slightly compared to a month ago, in spite of more homes pending and closing, compared to May. This may reflect that while there are more active buyers in the market, with more inventory on the market, they are taking their time to find the "right one".
MAY 2025 WHATCOM COUNTY MARKET REPORT
Days on market has dropped 11 days in one month, and are now even with May of 2024. New listings are up compared to last month and last year. We are starting to see pending sales activity jump: more homes pended in May compared to April and compared to a year ago. But inventory levels continue to climb. When I check weekly activity, pending home sales are matching the number of new listings. We appear to be in the trend where homes either pend quickly or linger (likely due to price), which is why, in spite of increased sales activity, inventory levels are increasing.
APRIL 2025 WHATCOM COUNTY MARKET REPORT
Home inventory is up 50% compared to last year, although we are still most definitely in a seller's market. Days on market match last month, but are up 20%, compared to a year ago. Pending sales activity (the most current reflection of buyer demand) increased in April compared to March - this is what we see each Spring, as buyers start to act. With more inventory to choose from, we are seeing more pending sales activity, but home inventory levels continue to climb. Will we see inventory levels drop as we reach late Spring/early Summer?
MARCH 2025 WHATCOM COUNTY MARKET REPORT
New listings are are up early this Spring, but sales activity has not caught up. Consequently, home inventory has risen. Home prices are down from a year ago, although days on market is consistent with last year and down from February. Is this the beginning of a slowdown, or will we see buyer's jumping in the market this Spring, with more home options available to choose from? Stay tuned...
FEBRUARY 2025 WHATCOM COUNTY MARKET REPORT
New listings are nearly identical to February of 2024, but have not jumped as much from January to February as we saw in the prior year. Apparently the lack of predicted interest rate drops has not hit the market significantly: buyer demand is up compared to a year ago. Although pending sales did not increase from January to February. While inventory levels have increased compared to a year ago, they remain relatively low.
JANUARY 2025 WHATCOM COUNTY MARKET REPORT
New listings are up significantly, compared to January of 2024, as well as compared to last month. Inventory levels remain steady. Pending sales (the most recent reflection of buyer demand) is also holding steady ompared to a year ago, and not surprisingly, up from December.
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