Is it time to build new condos in Leavenworth?

Over the past decade we have had the opportunity on this blog to chronicle some extreme swings in the Leavenworth Washington real estate market.

In the first few years of this blog we were charting the amazing upswing of home prices and quick sales of the boom years from 2004-2007.

In the following years, we wrote about the numerous failed condo projects that went up for auction or sold as short sales.

2009 Leavenworth Condo Update

2011 Leavenworth Condo Update

But the market is gaining strength again and I actually think it might be time to build new condos in Leavenworth.

In March of 2015 there are only 11 condos for sale in Leavenworth. Three of these are zone multi-family and cannot be used as vacation rentals, another two are condo-tels and cannot be financed conventionally.

That leaves 6 condos for sale and they are all older units. The newest condo for sale was built in 1995 (twenty years old and the median age is 25 years old.)

Clients are clamoring for a unit in Riverpark or Cascade Crest but nothing is for sale.

River Park Condo _ main_cropped

What kind of condominium project would be popular?

  • downtown Leavenworth location
  • zoned for commercial use
  • covered parking, preferably a garage
  • 3 bedrooms are rare and would command a premium
  • Under $400,000 for a 2 bedroom
  • between 6-12 units so the market doesn't get flooded (like 2007)

These shouldn't be big surprises, but I've written good advice before and developers lost hundreds of thousands of dollars by not understanding the forces that drive the market here.

I also think there is a market for retirement buyers looking for a "patio home" style condo.  Earlier projects hyped for retirement buyers were filled with stairs.  Wenatchee has some great options in this vein, but Leavenworth does not.

So developer friends... when do we get started?

(click here if you want to search the MLS for condos currently for sale in Leavenworth. )

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Allyson and Geordie Romer

Leavenworth real estate agents - Allyson and Geordie Romer

For over a decade, Allyson and Geordie have been serving clients in the Leavenworth-area real estate market. Together, they work tirelessly to stay on top of the regional market and present the most relevant opportunities to their clientele.

When not in the office, they can be found exploring the endless recreation opportunities of the area in all of its seasons.

 

Testimonials

 

Geordie provided excellent real estate representation! We appreciated his detailed knowledge of the market, his up front and honest approach, and his negotiation skills.
As reviewed on Zillow  – 

- Laura Anderson

 

 

As “west siders” looking for a getaway near Leavenworth, Geordie provided insight … his knowledge of design features important in a “snowy winter wonderland” was appreciated. Thanks Geordie!
As reviewed on Zillow  –
 

- Jean Stern

 

 

Geordie made this somewhat complicated transition easier for us…going above and beyond to help us work through issues that came up during the sale of our parents home. We appreciated his knowledge, attentiveness to details and his willing spirit.
Our family is grateful for Geordie!
As reviewed on Zillow  – 

- Terry Foster

 

 

Geordie was great in every way. We have been looking in the Leavenworth area for some time, and Geordie was absolutely the best for local knowledge, history and depth on neighborhoods, developments and the local market trends. He was very quick to respond (even when he was on his vacation) and worked very diligently to get all of our questions answered in a very timely fashion. We would recommend him highly to anyone looking to buy or sell a home. Very friendly, and helped us navigate all of the local options before we made an offer on the property that we purchased. Thank you, Geordie!

As reviewed on Zillow  – 

- Ryan Olsen

 

 

It was such a pleasure to work with Geordie and his wife, Allyson on our cabin purchase. They showed us a variety of locations, listened to what we wanted and helped us find the perfect match. Everything was smooth and not stressful, just relaxed and easy. We would definitely recommend Geordie and use him again if the need arises!

As reviewed on Zillow  – 

- Cammie Schlosser

 

Moving to Leavenworth?

Are you looking for a cabin or a condo in Leavenworth that your family can use as a home base when climbing, skiing or hiking around Leavenworth or Lake Wenatchee?

Maybe you rent a house here and have decided to stay, surprised how a summer of rafting somehow turned into seven years.

Maybe it’s time to escape the hustle of the big city (and its rain) and move to Leavenworth with its four seasons.

Maybe you bought a condo years ago, don’t seem to use as much, and it’s time to sell.

Whatever your motivation, we are here to help. If you are buying a home, the best place to start is with our Homebuyer’s Guide to Leavenworth.