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.

 

Overall, I see strong demand for vacation homes by westside buyers at prices under $600,000. This continues to be for "cabins" or other vacation homes generally located outside of the city of Leavenworth.

Comments

What a pretty area! Great photos. I am on the bus tour.

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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.