Bellingham, WA 98225 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary market indicator is the median sold price $652,034, which anchors recent transaction-based market value and suggests representative recent sale levels in Bellingham's 98225 market; price momentum is up consistent with observed price trends.
2. There is a notable gap between the median listing price $857,500 and the median sold price $652,034, which may indicate pricing friction or elevated seller expectations relative to closed transactions; balanced/neutral market temperature appears to be moderating how long homes take to close.
3. Liquidity shows slower sales velocity as evidenced by the median days on market 276, which suggests longer marketing periods and the need for more competitive pricing or concessions to accelerate transactions; moderate transaction volume may persist given neutral market temperature and ongoing demand.
4. Financing and rent context: median market rent $1,864 is rising alongside a rent year-over-year trend of up, but buyers face elevated borrowing costs—Current 30-year fixed mortgage rates in Bellingham, WA, are averaging 6.53%, which is 0.55% higher than the 5.98% average seen earlier in 2026—creating elevated interest rate pressure that could temper buyer activity despite upward price and rent trends.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.