BELLINGHAM, Wash.- Rising mortgage interest rates threw some cold water on red hot Whatcom County home prices in 2022.

Local realtor Peter Ahn says that actually resulted in a more “normal” market.

The median price of a home sold in Whatcom County last year rose 9.2% to $600,000.

Ahn, who co-owns the Bellingham-based Muljat Group, says that’s a nice increase but is dwarfed by 2021’s 24% jump in prices.

He says 20% increases aren’t sustainable. and property owners should be “overjoyed” with 10% growth.

And he adds that a slightly higher inventory of available homes, and interest rates stabilizing at about 6.5%, should create a more stable market heading into the new year.

All areas of Whatcom County still saw growth last year, with Ferndale leading in both median and average price increases, while the Mount Baker area had the smallest increase.