Leavenworth Real Estate

Archive for the 'Leavenworth Waterfront Properties' Category

Riverfront Lots in Leavenworth

 

Recently I wrote an article about buying a riverfront home in Leavenworth. I talked about the different options such as the Wenatchee River, the Chiwawa River and Icicle Creek. For some people, buying a home on the river doesn’t compare to building a custom home on the river.

 

 

 

 

 

 

 

 

 

 

 

Building lots in Leavenworth and Lake Wenatchee (Plain) are more expensive every year. This is especially true with riverfront.

 

In 2006, 15 parcels on the river sold in the Leavenworth area. The average lot sold for $246,000 for a lot under 1.5 acres in size. The median price for a lot was $275,000.

 

In 2007, through the end of July, 5 riverfront lots have sold. The average price is $307,000 for approximately 1 acre.

 

Currently, there are 6 active lots on the market with a median price of $385,000. The least expensive is $279,000.

 

3 lots are under contract (pending) with an average price of $273,000.

 

I generally tell buyers that they should expect to pay $300,000 for a riverfront lot in today’s Leavenworth real estate market. If you are interested in low bank that doesn’t flood or a specific location, such as the Icicle River, you probably can expect to pay more. (Lakefront is another story all together – probably double the price.)

 

With only 6 lots on the market, there really isn’t a huge number of choices for the consumer to pick from. The best thing to do is become very familiar with the market and be prepared (emotionally and financially) to move quickly when the right property becomes available.

 

Click here to search all Leavenworth properties or click here for riverfront properties in Leavenworth. (Unfortunately the second link is only good until September 07 – email me for current listings.)

Leavenworth Riverfront Properties

Buying a riverfront home in Leavenworth? Ever dreamed of a log cabin on the river in Plain? How about Icicle Creek?

For many home buyers in the Leavenworth, Plain and Lake Wenatchee area buying a riverfront home has been a lifelong dream.

 

 

 

 

 

 

 

 

 

 

There a number of rivers to choose from:

The Little Wenatchee River and the White River flow into Lake Wenatchee from the Glacier Peak Wilderness Area. There are a few opportunities here, but they are rare. Homes on these rivers are far from services and are likely to feel very remote. Winter access is something to think about – skiing or snowmobiling in may be your only option.

The Wenatchee River provides most of the opportunities for riverfront living. The Wenatchee River starts at Lake Wenatchee and heads down to Leavenworth (via Tumwater Canyon) and then on past Peshastin, Dryden, Cashmere and Monitor to Wenatchee where it meets the Columbia River.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Most of the river recreation in the Leavenworth area takes place on the Wenatchee River. This includes rafting, kayaking and tubing.

Some neighborhoods that have Wenatchee River frontage are Bretz Road and Bretz Drive, River Road, Plain Ranches, Alpine Acres, Ponderosa, Alpensee Strasse, Icicle Road and Riverbend Drive.

 

The Chiwawa River

The Chiwawa River flows 37 miles from its start at Chiwawa Mountain in the Glacier Peak Wilderness to the Wenatchee River east of Lake Wenatchee. Most of the Chiwawa River is located in land managed by the U.S. Forest Service, though some private riverfront is available near the mouth.

Neighborhoods that have access to the Chiwawa River include Chiwawa River Pines and Shugart Flats.

Nason Creek

Nason Creek flows into the Wenatchee River near the Nason Creek Campground which is adjacent to the South entrance of Lake Wenatchee State Park. Nason Creek flows from the Stevens Pass area and is close to Highway 2 for much of its downhill journey.

Icicle Creek

Icicle Creek flows from Icicle Canyon down to the Wenatchee River near downtown Leavenworth. Much of Icicle Creek flows through land managed by the U.S. Forest Service in Icicle Canyon.

Neighborhoods with Icicle Creek access include Icicle Island, Icicle Road, East Leavenworth Road, and Old Bridge Road. It is important to note that the river on your right when you head out Icicle Road from Leavenworth is actually the Wenatchee River!

Other Creeks

The following creeks are a little smaller – babbling brooks that may dry up at the end of a hot summer -Chumstick Creek or Little Chumstick, Bjork and Eagle Creeks. If you are looking for “riverfront” these creeks may disappoint you. I happen to have a small creek in my backyard and I love it.

The Market for Riverfront Homes

In 2006, 13 riverfront properties sold in the Leavenworth and Plain area. The average home sold for $654,000 with a median sales price of $625,000. The average riverfront home was just over 2000 square feet.

Currently we have 11 homes on the river for sale in Leavenworth. The least expensive home is $500,000 and the average asking price is $840,000.

2007 brought Leavenworth its first riverfront condominium project – The Boulders. These 6 luxury condos are located on Alpensee Strasse within walking distance of downtown Leavenworth. Each 2 bedroom unit is 1500 square feet and comes with 2 fireplaces, 10 foot ceilings, granite countertops and awesome Wenatchee River views. Prices start at $595,000 for the 3 available units.

My partner Allyson has a nice 3 bedroom home on River Road for sale. This house has a short trail down to some great low bank waterfront on the Wenatchee River and great views of the river from the house and the deck. You can see a tour of this Wenatchee River home here.

Click Here to Search for Leavenworth Homes or click here for Riverfront Homes in Leavenworth . (Unfortunately this link is only good until Sept 07, e-mail me for the most current listings.)

Leavenworth Real Estate Market Update

The Leavenworth real estate market is made up of a number of different sectors that always seem to be moving in slightly different directions.

 

The majority of consumers, whether they are local homeowners looking at an increased tax bill or out of town investors, look to the growth of prices to gauge the strength of the market.

 

Home prices in Leavenworth WA are certainly up. At the end of May the average list price for a single family home in the Leavenworth area (including Lake Wenatchee and Plain) was $518,000. This is the number that tends to excite people and this is the number that most folks see when browsing the internet or looking in local homes magazines.

 

Of course the number that has more importance is the average SALES PRICE which is what the buyers are willing to pay. Considerably less – $354,000.

 

But as I said before, this is a tale of multiple markets wrapped up in each other.

 

The bulk of the Leavenworth real estate market is single family homes under $600,000 that are not on the water. We could even narrow the range to between $200,000 and $400,000, but the story is much the same.

 

 

At the end of May 2007 there were 45 of these homes on the market. Looking at the sales data, we have 5.7 months of inventory. More or less a balanced market with neither buyers nor sellers having much of an advantage. ( I would say that generally, home sellers outside the city limits probably have a stronger market that those inside the city, but that data will be saved for another day.) Last year, there were 39 homes on the market with a 3.9 month supply. Though supply does seem to be rising, we did have 63 homes on the market in August and September of 2005, so it is hard to say if this is a short cycle or a longer term trend.

 

Homes over $600,000 are the luxury segment of our market. In the past year, 6 homes (non- waterfront) sold in this price range and the 13 homes on the market at the end of May represent 26 months of supply. While few of these sellers are highly motivated, it is by any indication a buyers market. (And has been for some time.)

 

 

Waterfront homes are a different beast. Generally, these really just include homes on Lake Wenatchee and Fish Lake, and riverfront homes on the Icicle Creek, Chiwawa, White, or Wenatchee Rivers. At the end of May, there were 11 homes on waterfront or 7.8 months of supply. I think this market sector tends to be pretty balanced, despite ever growing price points.

 

Fish Lake Real Estate

In an earlier post on Active Rain, I introduced you to Fish Lake just outside of Plain and Leavenworth, WA. This post is specifically about the real estate opportunities that can be found on Fish Lake.

 

Fish Lake is a smaller and more intimate lake than Lake Wenatchee. It is also mostly bordered by U.S. Forest Service land. The amount of private waterfront is very limited and even homes near the lake are hard to come by.

 

This is the last waterfront home sold on Fish Lake.

 

 

 

 

 

 

 

 

 

 

 

 

I sold it in May of 2005 for $470,000. In general, real estate in the Leavenworth and Lake Wenatchee area has been appreciating at 15 to 20% a year. Considering it has been two years since a home on Fish Lake has been available, I think the appreciation here has probably been higher. I usually tell buyers looking for a home on Lake Wenatchee to plan on spending at least $1 million. I don’t think Fish Lake has quite reached that mark, but it isn’t far off.

 

These two houses sold in the past year.

 

 

 

 

 

 

 

 

 

 

Neither of these homes were located on the lake, but both were within walking distance. The home on top sold in May of 2006 for $350,000. The other home sold in March of 2007 for $375,000.

 

If you are looking for a home on or near Fish Lake I have two obvious pieces of advice. Be patient and be prepared to pay a premium for waterfront.

 

If you have a home or lot to sell on Fish Lake or even nearby, you are sitting on some very valuable real estate. Please don’t hesitate to contact me for current market analysis.