Real Estate in Whatcom County
Home values are rebounding as low supply and strong demand keeps the Bellingham Real Estate market strong.
Rapidly rising interest rates in the 2nd half of 2022 slowed down home sales and created a market adjustment throughout Bellingham and Whatcom County. “Home prices peaked in June of 2022 from a spring frenzy market, and then home values steadily declined as much as 10% by the end of 2022 (due to interest rates going up)” reports Paul Balzotti, Broker/Owner of John L. Scott Real Estate Bellingham. “Higher rates and lack of inventory have slowed down sales considerably through the winter and early spring months”. Home sales were down 20% year over year through the first quarter of 2023.
The 2nd quarter of 2023 has been a different story. As interest rates have dropped from as high as 7%, to closer to 6%, buyers seem to have adjusted to the rates. “As the weather improved, activity has bounced back, and we are even seeing multiple offers again in the low to median price points”. Balzotti points to the lack of supply and strong demand being the biggest factor. “We still have steady population growth, with relocating buyers moving here for retirement or lifestyle.” “We have a severe lack of new construction available for both residential and condominiums. Going into April, Bellingham had only a 1-month supply of inventory under $1 million. That means for every home that was listed, there was 1 pending. The result of that is we are seeing home values jumping back up a bit in the low to mid price point segments, as buyers are competing for nearly every new listing that hits the market”.
John L. Scott Real Estate releases a housing forecast every year as a company for the Pacific Northwest. The forecast has been as predicted so far, with home sales down, but home values steady and even slowly increasing again. “It is difficult when you are locked into a 3% interest rate, to want to make a move and lock in at 6%. But when you live in a city with steady population growth & growing amenities (like new parks, trails, breweries, and more), it’s safe to count on the strength of this market for the remainder of 2023, and moving forward from there”. As far as housing affordability, Balzotti talked about that being a continued issue. “Rental rates are leveling out as apartment housing supply has increased, so renters have more options. And for home buyers, there is more new construction housing at more affordable price points in both Blaine and moving east out into Maple Falls.” “So I think what we will see is increased development around these more affordable areas like Blaine”. “Bellingham will continue to experience low inventory and continue to be one of the cities with the strongest demand in our region.”
See John L. Scott’s 2023 housing update at whatcom.johnlscott.comhousingupdate.com
You can also view all listings from all companies at johnlscott.com
Source: Paul Balzotti, John L Scott Real Estate
Whatcom County Home Prices
Residential Numbers (12-month cycle) Information updated May 2023
| Area | Median | Average | Units Sold |
| Whatcom County | Up 6% $600,000 | Up 6% $661,587 | 2,583 down 20% |
| Bellingham | Up 9% $680,000 | Up 10% $789,495 | 1,091 Down 20% |
| Birch Bay/Blaine | Up 11% $550,000 | Up 2% $608,312 | 335 down 19% |
| Ferndale | Up 8% $610,000 | Up 4% $633,523 | 361 down 24% |
| Lynden | Up 8% $565,000 | Up 10% $614,606 | 352 down 17% |
| Mount Baker | Down 1% $326,250 | Up 2% $378,449 | 31 down 21% |
| Nooksack Valley | Up 3% $495,000 | Up 4.5% $527,388 | 157 down 18% |
| Sudden Valley | Up 15% $535,000 | Up 24% $521,651 | 187 down 27% |
Source: Paul Balzotti, John L Scott Real Estate
Employment in Whatcom County
Whatcom County offers a variety of employment opportunities – from construction to engineering, commercial fishing to telemarketing, aerospace to software development, healthcare to farmer, we have something for everyone.
In 2013, Whatcom County’s labor force was nearly 104,000 strong, with an unemployment rate of 6.9 percent. By December 2014, the unemployment rate dropped to 6.4 percent and continued on a downward trend.
The county’s 2013 average annual wage was $41,334 and the median household income was $51,939.
The average commute to work is less than 21 minutes.
Sound good to you? Check out all the service providers who are here to help you find your dream job in beautiful Whatcom County.
Whatcom County employment services include:
NW Workforce Council – The Council is a 27-member board responsible for governance and oversight of the workforce development system in Whatcom, Skagit, Island and San Juan counties. The Council convenes private and public sectors to address workforce development issues. The Council identifies current and future workforce trends, needs and priorities, and works with stakeholders and constituencies to execute priority initiatives.
Worksource Whatcom – Worksource is the state’s official career and employment site. It functions similarly to an “unemployment” office in other states while providing training opportunities. Their services are free of charge and everyone is welcome.
Training programs include: writing resumes & cover letters, interviewing techniques, effective job searches, Microsoft IT Academy, Key Train, GCFLearnFree.org. They also offer apprenticeships and worker retraining and education programs for dislocated workers.
Evergreen Goodwill – Goodwill offers programs for youth, seniors, veterans, and people with disabilities, criminal backgrounds and other special needs. They offer occupational skills training, job readiness programs, e-learning, on-the-job training, access to transportation, childcare and English language training.
Bayside USA – Bayside USA is a professional recruiting & employment service which offers contract assignments, direct positions & temporary placement in the areas of engineering, design and drafting, and other technically oriented tasks.
Cascade Connections – Offering socially conscious employment solutions within Whatcom County. Accomplishing this through applicant screening, job matching, training support, subcontracting and janitorial services.
Cascade Job Corps Center – Cascade Job Corps is a no-cost education and career technical training program administered by the U.S. Department of Labor which offers residential job training & job placement for younger, entry-level workers.
Express Employment Professionals – Express Employment Professionals is a staffing agency that offers temporary staffing, evaluation hiring and direct hire placement in a multitude of administrative, commercial and professional fields.
Kelly Services – Kelly Services is a temporary & full time staffing agency which provides tailored solutions for employers and employees in fields ranging from education & government to industrial & information technology.
Healthcare in Whatcom County
Health care is the largest industry in Whatcom County with PeaceHealth St. Joseph Medical Center as the largest employer. PeaceHealth is known for its state-of-the-art facility, friendly staff, and providing comprehensive care including specialty services in heart, joint and cancer care. Addressing the needs of the entire community, the hospital’s campus also includes an emergency room, a birthing center, and the center for senior health.
The Family Care Network (FCN) is the county’s largest single specialty group practice and a leading force within the local medical community. As a locally owned and independently operated healthcare network, FCN is free to focus on what matters most — the health and well-being of you and your family.
Interfaith Community Health Center provides affordable, evidence-based primary care. They provide preventive medical, dental, behavioral health and pharmacy services for children and adults to over 14,000 Whatcom County residents each year.
Care Medical Group is a locally owned and operated collective of diverse medical & administrative professionals; who provide high-quality medical care to Bellingham, WA and the surrounding Whatcom County residents and businesses. Care Medical Group has expanded from urgent care and family medicine to include occupational medicine, physical therapy, sports medicine, massage & wellness.
Whatcom County also boasts a wide variety of alternative medical practices ranging from acupuncture, chiropractic, naturopathy, massage, and medical marijuana. (Yes, medical and recreational marijuana are legal in the state of Washington.)
Bellingham is also home to numerous chiropractic facilities dedicated to focusing on health of the whole body & focused on addressing pain and prevention through wellness education. Chamber members Color Chiropractic and Natural Way Chiropractic are excellent choices for your chiropractic needs.
Bellingham Anesthesia Associates is a group of 37 physician anesthesiologists. We provide care throughout Whatcom, Skagit, and San Juan counties.
Advanced Vision Family Eye Care – Our mission is to provide the ideal eye care experience, to provide outstanding service, using cutting edge technology, the latest in fashion and lens engineering all delivered in a timely manner.
Cascadia Eye was established by Dr. Nannette Crowell in 1985, Cascadia Eye provides comprehensive eye care: from routine and medical exams, to cataract and cornea surgery, to independent eyewear designed in-house.
PeaceHealth St. Joseph Medical Center
2901 Squalicum Pkwy, Bellingham, WA
(360) 734-5400
Family Care Network
3130 Squalicum Pkwy #100, Bellingham, WA
(360) 671-4509
Interfaith Community Health Center
220 Unity Street, Bellingham, WA
(360) 676-6177
Care Medical Group
4280 Meridian Street, Bellingham, WA
(360) 734-4300
Whatcom Occupational Health
3010 Squalicum Pkwy, Bellingham, WA
(360) 676-1693