2015 Leavenworth Condo Prices
2015 Leavenworth condo prices had a slight uptick in both average and median prices compared to 2014. Overall the market is very stable without the huge growth in prices or number of sales that we have seen among single family homes. The average Leavenworth condo sold for $222,000 with a median sales price in 2015 of $207,000. Twenty-six condos sold compared to twenty-eight units that sold in 2014. What drives condo prices in Leavenworth? One big factor is the addition of new buildings or projects that come on the market, which generally make the average price go up. Unfortunately, there were not any new condominium projects for sale in Leavenworth. Without new projects, 2015 Leavenworth condo prices didn’t have much upward pressure. When we broke down condos by age, most of the units sold were built in the 1990s. Condos at Kahler Glen had a good year with six condos selling in 2015. Four condos sold at the Ski Blick condominiums on Ski Hill. The condos that sell for the most in Leavenworth have these things in common:
As New As Possible
For Leavenworth condos, this probably means they were built in 2007-8.
Close to the Downtown Core
Condominiums at Kahler Glen or in Peshastin do not fetch a premium.
Possible Vacation Rental
Condos zoned for residential use, which are most condos North of Highway 2 and those with restrictive covenants are in less demand. Condo-tels like those at Icicle Village Resort can also be difficult to finance which makes them less desirable as well. How many condos fit these three categories? In 2015, just one condo (at 900 Main Street) that came on the market fits all three categories. We believe the demand for new condos in the Leavenworth market is very strong for 2016. ********************************************************************************************************** Required Disclaimer NOTE: This representation is based in whole or in part on data supplied by the North Central Washington Association of Realtors or its Multiple Listing Service. Neither the Association nor its MLS guarantees or are in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the Market.
