BELLINGHAM, Wash. — Median sales prices in Bellingham’s housing market topped $500,000 for the first time.
Troy Muljat of Bellingham-based Muljat Group Realtors says the second quarter prices were up nearly 11% from the second quarter of last year.
Countywide median sales prices were up just over 5%, rising to $405,000.
Muljat attributes the smaller growth to the drop in prices in the Lynden area due to the sales of smaller homes.
Lynden is the only area that saw a drop.
Muljat says demand continues to outpace the supply of single-family homes in Bellingham, and without new home construction, population growth is going to other Whatcom County towns.