Covid-19 Weekly Market Update # 8

It’s still not business as usual – no open houses, only serious homebuyers touring, all showings by appointment only regardless of occupancy (vacant or occupied), showings limited to two people on a property (broker and client) with proper social distancing, and most everyone is sporting a mask.

*All of the agents at Windermere continue to protect our community through taking extra precautions to safely do business with us! We are wearing masks, gloves, and making sure to wipe down every surface we come in contact with!*

BACK TO THE DATA

Last week the number we reported was 57 New Listings for 2020 on the Market in Whatcom county. As you can see, the spring Market here is still coming along with 72 New Listings this week! Compared to 102 last year, we are still not up to our regular numbers, but we are not far behind.

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 5/2 to 5/8/20 (pulled around Noon PST) and the percentage relationship between those numbers.

The numbers for New Listings in all areas have only fluctuated a little bit since last week. Under Contract listings went up by a few in Bellingham and down just a few in Ferndale and Lynden. All normal fluctuations from week to week.

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 5/2/20 and 5/8/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer.

Homes are continuing to sell fast, as all the numbers have dropped here from last week in almost every section! In Ferndale, the difference in days last week was 47, and the in Lynden, the difference was -36!

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive.

Lynden is still having homes go under contract that are priced higher than the average Active Listing in that area and Bellingham and Ferndale are still hovering right about the same Price for pendings.