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.)