Home Values

98229 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$309,600

  • 7.8% 1-year change
  • 1.6% 1-year forecast

The median home value in 98229 is $309,600. 98229 home values have gone up 7.8% over the past year and Zillow predicts they will rise 1.6% within the next year. The median list price per square foot in 98229 is $161, which is lower than the Bellingham average of $187. The median price of homes currently listed in 98229 is $315,000 while the median price of homes that sold is $278,750. The median rent price in 98229 is $1,100, which is higher than the Bellingham median of $975.

Foreclosures will be a factor impacting home values in the next several years. In 98229 3.8 homes are foreclosed (per 10,000). This is greater than the Bellingham value of 2.9 and also lower than the national value of 3.9

With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 98229 homeowners underwater on their mortgage is 10.9%, which is higher than Bellingham at 10.3%.

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Relative ZHVI
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98229 Market Overview

Data through Feb 28, 2015
  • $309,600 ZHVI
  • 1.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $315,000 Median listing price
  • $278,750 Median sale price
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98229 Market Health

Data through Feb 28, 2015
  • 7.9/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 10.9% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

3.8 homes 98229
2.9 homes Bellingham
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
98262 $367,700
98232 $330,600
98226 $289,400
Name Median ZHVI
98225 $272,800
98247 $264,600
98248 $261,800
Name Median ZHVI
98264 $253,000
98233 $199,900
98273 $199,600

Listings & Sales

Data through Feb 28, 2015
  • $161 Median list price / sq ft
  • $151 Median sale price / sq ft
  • 11.1% Listings with price cut
28.1%
Sold below listing
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98229 Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,534 98229
    $1,424 Bellingham
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,100 Rent list price
  • $0.85 Rent list price / sq ft
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