Leavenworth Real Estate - 2007 Year in Review

Real Estate in Leavenworth in 2007 - in a nutshell, prices up, volume down. (While these numbers might change with an additional last minute recording or two, I think the trends will remain the same.)

 

I have mentioned it before, but as expected 2007 was the Year of the New Condo for Leavenworth. Notable projects included the condos at Icicle Junction (Aspen Suites), the Boulders at Alpensee Strasse, the River Park Homes (affectionately known as the big yellow building), and Ski View on Titus. All these brand new condos certainly brought the price up for the "average" condo. The average condo price was up 45% to $294,000 from 2006s $201,000.

 

Perhaps more interesting, is what remains. Only 24 condos sold in Leavenworth in 2007, a mere 4 more than in 2006. 49 condominiums remain on the market with a few more projects slated for 2008. The average condo on the market today is $420,000. Does that market exist in Leavenworth? I'm not sure that it does. Only 3 condos sold above $350,000 last year and none above $400,000.

 

Single family home prices continued to climb in price, while the number of homes sold slowed. The average sales price was up 18% for homes in Leavenworth. The average price is now $415,000 up from $351,000 for 2006.

 

But price is not the only story. The number of homes sold is down 23% from the following year. The time on market is longer as well. The average days on market for a home in Leavenworth is now 139 days, up 30 days from 2006 when it only took 109 days. Sellers continue to get approximately 97% of their listing price as the final sales price.

 

Here's one positive and surprising trend. All the "Price Reduced" signs you see around the neighborhood - not indicative of the market. The average price reduction for single family homes in Leavenworth actually dropped in 2007. In 2006, the average home seller in Leavenworth dropped their price 7.06%, in 2007 that number dropped to 6.8%. This number coupled with raising prices tells me that Leavenworth home owners remain confident about the market, despite gloomy real estate news on a national level.

 

What will 2008 bring to the Leavenworth real estate market? I think much depends on external forces. What will the U.S. economy do? How will the stock market fare? How will the technology companies like Microsoft, Adobe, and Nintendo do?

 

I tend to think we will see a slight increase in prices with longer market times and about the same number of homes sold in 2008 as in 2007. (Check back in January 2009 to see if I'm right.)

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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.