Is It a Buyer’s or Seller’s Market in Bellingham Right Now?
View of Bellingham Bay from downtown Fairhaven in Bellingham WA.
If you’ve been watching the Bellingham real estate market, you’ve probably heard mixed opinions. Some say it’s still a seller’s market. Others say buyers finally have leverage again.
The truth? Bellingham is in a more balanced market than we’ve seen in years — but it depends on the price point, location, and condition of the home.
What Defines a Buyer’s vs Seller’s Market?
Seller’s market - Low inventory, high demand, homes sell quickly, often with multiple offers.
Buyer’s market - Inventory outpaces buyer demand, slower pace, price reductions, buyers have negotiation power.
Balanced market - Neither side has full control. Less dramatic price fluctuations.
What’s Happening in the Bellingham Market Right Now?
#1 Inventory Has Increased
Compared to the last few years, there are more homes on the market in Bellingham (also Whatcom County & nationally). According to our local NWMLS stats: We are surpassing the number of homes for sale for the year 2019, and for the first time are at pre-pandemic levels.
Bellingham, WA
August 2019 - 504 Homes for Sale
August 2025 - 562 Homes for Sale
Buyers have options now, and they’re taking their time. This is a noticeable shift from the urgency we saw in 2020–2022.
New Community in Bellingham, WA Cordata Area
#2 Homes Are Taking Longer to Sell
Days on market have increased. Homes that are priced too high or need work are sitting longer, while well-priced, well-presented homes are still selling, and some with multiple offers.
Instead of 6-12 days on market during 2021. The average days on market for December 2025 is 48 days with a 95.7% of list to sale price received. - NWMLS Info sparks Data
#3 Buyers Are More Cautious
Higher interest rates mean buyers are:
More price-sensitive
Asking for inspections, credits & rate buydowns
Walking away from homes that don’t feel like a good value
Increasing in contingency offers & creative financing
This doesn’t mean buyers are gone — it means they’re being thoughtful.
#4 Home Prices Haven’t Decreased - They’ve Gone Up
The average price in Bellingham has held firm and gone up. Buyers are competing within specific segments of the market, because though there is more inventory… starter homes and well-updated homes are still in short supply. If priced slightly under the competition, these generate multiple offers while most homes sit.
Bellingham is also located in between 2 big metropolitan cities, Seattle and Vancouver BC. Relocating buyers from California, Canada and Seattle are also purchasing properties in Whatcom County.
Partial View of South Hill and Bellingham Bay
So… What Does This Mean?
If you’re buying in Bellingham right now:
You have more negotiating power than in recent years
You can be selective
You’re less likely to compete in bidding wars
Prices are not coming down drastically
Well priced, desirable properties will still be competitive
If you’re selling in Bellingham right now:
Homes can sell well with the right strategy
Pricing correctly from the start matters more than ever
Presentation, prep, and marketing are no longer optional
Creating leverage is key for the seller to receive top dollar
You might have to work with the buyer and compromise
