Ethan Hunger Real Estate

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United States
Bellingham, WA
Ethan Hunger Real Estate

Managing Broker for Bellwether Real Estate, Bellingham WA https://donations.bellinghamfoodbank.org/campaign/ethan-hunger-10k-calorie-burn/c333383

08/14/2024

July Recap!

The market in July was HOT and I'm expecting us to see similar trends in August thanks to mortgage rates hitting a 15 month low! 30 year conventionals are hovering at around 6.5% right now (subject to change) and it seems to be the breath of life this market needed. To add to that, our inventory rose up to 415 homes, the highest total we've seen in FOUR YEARS!
Your dream home is there for the taking and now is the time to act. Beat the rush of new mortgage applications and let's make some offers today!
Reach out and let's talk:) my door is always open for a free consultation.

Ethan
[email protected]
360.920.3088

06/27/2024

When you sell your childhood best friend an off market charmer (in Sunnyland!) well below market value, there's guaranteed to be smiles all around!

Congrats on the new home! Glad you're only a few blocks away 🥳

06/14/2024

May Recap!

Look at this market! Inventory on the rise, and a slight pause in home prices. Is now the perfect time to buy? Rates have stabilized, school is wrapping up, and more house are hitting the market! Let's talk before the demand and buyer pool goes nuts. Reach out today!

Ethan
[email protected]
360.920.3088

03/11/2024

February Recap!

Let me start with a quick reminder that, due to the transaction times involved in Real Estate, February home price data is more of a reflection of the January market than the February one.

The main reason that I prefaced this recap is that our chart shows that the median home price for transactions that closed in February continued to decrease. This isn't a very accurate representation of our CURRENT market as we've seen listing competition go through the roof. Bidding wars have become almost expected again and the public seems to have gotten used to our current rates.

As far as inventory goes, it continues to be a problem. Inventory in 2023 was quite lack luster and 2024 continues to hover around 20% below 2023 levels. In depth analysis isn't super necessary on this one as it comes down to two simple reasons:
1) Most people that own have very low interest rates on their homes.
2) Nobody seems to want to move out of Bellingham.

These are great problems to have as homeowners, but continue to make it difficult for our buyers entering the market.

02/05/2024

January Recap!

A lack of inventory remains the storyline. We're down to 194 homes listed for sale in the month of January, a 33% decrease from the same month last year. We're back to numbers that rival the historically low month of January, 2022 (136 homes). Luckily, a good portion of this efflux is simply seasonality, but it'll be important to keep an eye on this data moving forward.

I expect February's numbers to both go up. Many buyers have been waiting to see interest rates drop before jumping into the action and the rates seemed to have dropped enough for that push to begin. I'm seeing a considerable increase in buyer activity across the market.

If you've been waiting to buy, now is the time to start looking! The competition (& prices) will only go up from here.

01/05/2024

December Recap!

Median price and inventory both dropped. This is more of a representation of the seasonality that December brings with it than any real changes in our market. December statistics should always be taken with a grain of salt and this year is no different.

Having said that, this market still has plenty of potential! Low prices are still around despite the dip in rates. Prices almost always lag behind market change, so make sure to jump on opportunities before they're gone.

For any real estate questions, feel free to reach out today!

Ethan

12/04/2023

November Recap!

Better rates project a more competitive market! Buy now, or forever hold your peace.

The graphs this month are a bit misleading. Although the market appears to be pretty stagnant, the reality is that the majority of listings are flying off the shelves. Median days on market (DOM) is down to 8 days and the majority of new listings have been competitive. I expect the new 2-3 months to show similar trends with a slow increase in median home price followed by a HOT spring.

Questions about the market? DM me today.

Ethan

11/15/2023

Congrats to these FIRST TIME HOME BUYERS!!🥳🥳 Helping friends enter the world of homeownership is why I became a Realtor in the first place. Can't wait to see what you two do with your new home 🥰 a huge thanks as well to for rocking the loan on this one!

11/02/2023

October Recap!

Another month proving that there continues to be enough active buyers to carry a strong floor in this market. September had a median home sale of $625k. I will add a reminder that because houses being purchased with a loan take about 30 days to close, the effects of changes in interest rates (aka October's rate spike) aren't likely to be visualized until the month of November closings. I'll dive deeper into that element of the data next month.
For inventory, we saw another large downward swing. This was a bit unexpected, as we typically see that trend occurring a little later in the year.
If you have any questions, shoot me a DM at any time!
Ethan

10/18/2023

Congrats to my buyers on this STUNNING waterfront home! Can't say enough good things about the design and location of this one!

07/05/2023

June Recap!

June really picked up, with the median home price jumping from $582k in May to $600k in June. Our inventory stayed about the same, but the buyer pool seemed to increase causing the demand to shoot up. July is set to continue this upward trend as we head into the peak months of summer selling!

Interested in learning more about today's market and/or exploring your real estate options? Let's chat! My door is always open for free, no commitment consultations.

Ethan

Address

11 Bellwether Way, Suite 201
Bellingham, WA
98225

Telephone

+13609203088

Website

http://ethanhunger.com/

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