Q: What if the 2021 market conditions continued for another 3 years?
Hypothetically, just to freak out for a minute, consider this:
If the rate of Bellingham inventory decline continued at the same year-over-year pace for roughly 3 more years, let’s say in July, 2024, in Bellingham, a city with a population at or approaching 100,000 people, there would be …. drumroll please …. 8 houses on the market.
Across all price ranges.
If the rate of price appreciation continued at the exact same year-over-year pace for 3 more years, then on July 1, 2024, a 3-bedroom, 2-bath, 1900 square foot Bellingham “median” home would sell for $1,300,484.
Not 30 years from now.
THREE years from now.
That just makes my head, like…