Seasonality & the Real Estate Market of Whatcom County

Seasonality is a big part of the real estate market here in Whatcom County. It makes sense - we’re out and about and the kids are out of school during those glorious summer months. And while the depths of winter here are more about gray skies and never-ending rain than a Midwest-style snowpack, the numbers show that sales activity drops by nearly half in the coldest month or two.

However, this December, we’re also walking into a holiday season with interest rates that have dropped from 7.79% to 7.03% (Freddie Mac national average for closed 30-year fixed). Buyers who’ve been on the fence since September are resurfacing and starting to ask more questions. So here’s the CGNW take for approaching your real estate plans for the next few months:

Sellers:  While there are generally fewer home buyers at play during the winter quarter, the ones that are active are serious about moving. Homes are just like any other product in that certain niches (like lake houses) might have specific times of year that are most apropos for a smooth listing & transaction process, so consult with our team to determine the best timing for your house. 

And don’t worry about reaching out too early! We consistently have people lined up weeks or months in advance; this helps us not only plan to list your home at the best time, but also gives you the best opportunity for making any repairs or completing deferred maintenance without rushing. 

Buyers:  If you’re actively looking during this time of year, you’ll have some great opportunities! Unlike the first quarter of 2021, we’re not in a low inventory / high buyer activity frenzy, and the cost of borrowing has limited the number of buyers able to purchase*. If you’re still able to be in the game, now’s your chance. 

Our top recommendation for buyers who are unsure about all this is to speak with a local lending professional who’s education-forward rather than sales-forward (reach out for a referral). They can walk you through your current financial outlook and provide informed advice on the parts that will have the most impact on your overall mortgage profile. 

For both sellers and buyers:  timing the real estate market is always a hot topic, and since we’ve work in it every day for years, we definitely have some insight into positioning your home listing or your home search. 

But that’s just it - positioning. 

It’s not about playing the market. 

It’s about responding to yours and your family’s housing needs in a way that’s appropriate, informed, and in your best financial and personal interest, and then moving forward with that plan.

Written by Tiffany Holden, Managing Broker licensee. All blog posts are written by members of the CGNW team, with no help from AI.

*Lest I sound coldhearted with that statement, let it be known that the writer of this post was herself in the position of being cut out of the market due to interest rate increases, and I’m empathetic to that position.