Leavenworth Real Estate 2008 Year in Review

2008 has been a rough year. The stock market lost nearly 40% of its value and real estate values nationwide have taken a hit as well. (At the end of November, national home prices were down 13% from the same time in 2007.)

In January of 2008 I was able to report that average home prices had climbed 18% despite a drop in the number of homes selling.

Here is what I predicted for 2008.

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.)

Well, I guess I was right to couch our market in relation to the stock market. If I had seen that coming, I would have pulled out some investments and stuck the cash under my mattress.

How did I do in relation to volume, market times and prices?

Number of Homes Sold in Leavenworth

Only 98 single family homes sold in Leavenworth and Lake Wenatchee in 2008. This is down 20% from 2007. (124 homes)

Leavenworth Home Prices

The average home price in the Leavenworth area dropped in 2008 from $415,000 to $389,000 or 6%. However, the median home price in Leavenworth went up 2% from $342,000 to $350,000.

Does that mean home prices went up or home prices went down? I think it means that Leavenworth home prices stayed stable in 2008 which is a great consolation considering the alternatives.

(Delving into the numbers, it looks to me like the decrease in average home prices is mostly a reflection of lagging luxury home sales in Leavenworth. Fewer homes sold above $500,000 in 2008 and they sold for less money. There were also three properties that sold for above $1 million in 2007 that really weren't residential properties but rather commericial buildings or development opportunities.)

How long does it take to sell a home in Leavenworth?

In 2007 the average home took 139 days to sell. In 2008 that number bumped up to 145. I guess I was right on that one.

How about 2009? What are your predictions for the Leavenworth real estate market?




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.

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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.




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.