Ferndale Real Estate Market Report for February, 2010
March 17, 2010 by Michael Eisenberg · Leave a Comment
The following is a quick analysis of the Ferndale real estate market.
There are currently 227 homes for sale.
- Homes are priced from $94,500 – $1,500,000
- Average Asking Price is $379,193 Days on Market are 123 days
- Median Asking Price is $319,900 Days on Market are 69 days
- Homes sold in February: 12
- Average Listing Price $315,183
- Average Sold Price $306,208 Days on the Market 79
- Median Listing Price $297,000
- Median Sold Price $287,500 Days on Market 67
- Homes Pending this week: 10 Total Homes Pending: 50
- Average Sales Price February, 2009: $334,252
- Median Sales Price February, 2009: $279,900
- Sold in February, 2009: 11
The Average Sales price is down 8.3% compared to February, 2009 and up 17.8% compared to last month, January, 2009.
The Median Sales prices is up 2.7% compared to February, 2009 and up 16.9% compared to last month, January, 2009.
The number of sales is down up 1 compared to February, 2009 and is down 12 compared to last month, January, 2009.
Looks like Ferndale prices have come up almost 20% from last years lows but seem to be trending down again.
The First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010. The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.
If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981