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Whatcom, Skagit median home sales prices remain high in 2023

Numbers of home sales in both counties dropped significantly

A "For Sale" sign is posted outside a home in the King Mountain neighborhood in January 2023.
A "For Sale" sign is posted outside a home in the King Mountain neighborhood in January 2023. (Hailey Hoffman/Cascadia Daily News)
By Frank Catalano Business & Work Columnist

Median home sale prices barely budged in Whatcom and Skagit counties in 2023, according to a pair of new reports analyzing Northwest Multiple Listing Service data for the year.

In Whatcom County, the median price for the full year was $589,000, down 1.8% from 2022. Skagit County’s median price in 2023, meanwhile, was $555,000, up 2.2% from the previous year. 

The median price is the “middle” value between the half of home sale prices that are higher and the half that are lower. It differs from an average, which can be skewed by a few unusually high or low sale prices.

Higher mortgage interest rates and monthly payments — combined with fewer homeowners willing to give up their lower-interest mortgages and move — were important factors last year, said co-owner Peter Ahn of Bellingham-based The Muljat Group. 

“But plenty of people still want to live here and that, combined with low inventory, kept prices steady in 2023,” Ahn said in a statement accompanying the Whatcom County report.

The total number of home sales in both counties also dropped significantly. 

In the Skagit County analysis, compiled by managing broker Shelah Inman of Brown McMillen Real Estate in Burlington, the number of homes sold dropped to 1,324, down 25.7% from 2022. The Whatcom data showed a decline of 19.8%, to 2,349 sales.

The communities in each county with the highest 2023 median prices were Anacortes at $760,000 (down 1.9%) and Bellingham at $711,000 (down 0.1%). 

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