BELLINGHAM, Wash. — Home prices continue to rise in Bellingham, sending many buyers around the county.
Troy Muljat of Muljat Group Realtors says across the county we saw a 10.9% increase in median home price during the first quarter of this year to about $365,000.
Meanwhile, the median home price in Bellingham also rose by a double-digit percentage to $425,000.
Muljat attributes the large growth to low inventory, but hopes increasing mortgage rates will help level this out as he says it’s not sustainable.
Sudden Valley, Mount Baker, Blaine and Bellingham all saw huge jumps in their median home prices in the first quarter.