January 2026 Housing Market Update: Bellingham & Whatcom County Start the Year Tight and 2026 Looks Poised for a Competitive Spring
The new year is off to an interesting start in Bellingham and across Whatcom County. January typically brings a seasonal slowdown in real estate activity, fewer homes hit the market, and buyers take a little more time to make decisions after the holidays. But this year’s numbers reveal something important: inventory has tightened significantly, and that shift is already reshaping market dynamics heading into 2026.
While homes are taking longer to sell, prices remain strong, and the reduced number of listings suggests that once the spring market arrives, competition could return quickly in many price points.
Below is a look at where we stand now — and what these trends may signal for the rest of 2026.
Bellingham Housing Market – January 2026
Median Home Price: $750,000
Active Listings: 162
Average Days on Market: 42
Bellingham opened 2026 with a notable jump in median price, rising from $728,000 in December to $750,000 in January. At the same time, inventory has dropped sharply to 162 active listings, which is typical for the season — but still a meaningful tightening compared to recent months.
Homes are also taking longer to sell, with the average days on market increasing to 42 days. That’s a key shift: buyers are active, but they are more selective, and they’re taking time to compare options, negotiate, and ensure the home truly fits their needs.
What this suggests in Bellingham
Scarcity is supporting prices. Even with longer selling timelines, limited inventory is keeping values high.
The market is more “strategic” than frantic. Buyers aren’t rushing the way they once did, but they’re still serious.
Homes that stand out still sell quickly. Updated properties, well-priced homes, and desirable locations are continuing to perform best.
Whatcom County Market – January 2026
Median Home Price: $624,793
Active Listings: 483
Average Days on Market: 50
Across Whatcom County, the market is showing similar trends. The countywide median price is $624,793, up from December’s $615,000 — reinforcing that values remain stable and strong.
Inventory has also tightened significantly, with 483 active listings, and homes are taking about 50 days on average to sell. That longer timeline is consistent with a more balanced market where buyers have more room to negotiate — but supply constraints are still keeping price drops from becoming widespread.
What this suggests countywide
Buyers are taking their time, but they’re not disappearing.
Inventory reduction points to a potentially competitive spring if buyers return faster than sellers list.
Homes in strong condition and priced realistically are still moving consistently.
What This Means Right Now — For Buyers & Sellers
For Buyers
January can be one of the best months of the year to buy. Why? Less competition, and sellers who are listing now are often more motivated than spring sellers.
However, inventory is limited. That means:
Be ready when the right home hits.
Pay close attention to value vs. condition — the best homes will still attract strong interest.
Use the longer days-on-market trend to your advantage: negotiate price, repairs, or credits where appropriate.
For Sellers
The low inventory is a real advantage for sellers, especially in Bellingham. But the longer selling timeline means it’s no longer enough to simply list and wait.
To maximize value:
Price accurately from the start.
Invest in presentation (clean, staged, professional photos).
Be prepared for buyers to request repairs or concessions — it’s more common than during peak seller-market years.
Insight Into 2026: What to Watch This Year
Based on the trends we’re seeing now, here are the most likely themes shaping the rest of 2026:
1.Spring could be competitive again
Inventory is already low, and if buyer demand rebounds in March–May (as it usually does), homes in the most popular price points may see multiple-offer situations again — especially in Bellingham.
2. Prices may remain strong, but growth could be uneven
Rather than rapid appreciation across the board, 2026 may look like:
Strong price performance for move-in ready homes in desirable areas
Slower activity for homes that need work or are priced aggressively
More negotiation in higher price ranges
3. Mortgage rate changes will matter (a lot)
If rates ease even slightly during 2026, more buyers could re-enter the market, increasing demand. If rates remain steady or rise, buyers may continue to move slowly and cautiously — which supports the trend we’re seeing now.
4. Buyers will keep expecting value
Even if competition increases, 2026 buyers are expected to:
prioritize home condition and energy efficiency
negotiate more often than in the past
walk away from listings that feel overpriced or poorly maintained
Final Thoughts
January 2026 is showing us a market that is stable, price-supported, and inventory-constrained, but with buyers taking longer and making smarter decisions. It’s not the frenzy of 2021, and it’s not a downturn either. Instead, Whatcom County real estate is moving into a healthy, strategic market, where preparation and pricing matter more than ever.
If you're thinking about buying or selling this year, the smartest move is to plan ahead, because when spring hits and inventory remains tight, conditions could shift quickly.