Leavenworth Condo Update: Spring 2011
How well are condominiums in Leavenworth selling? Last spring I wrote: The Leavenworth condominium market seems to be on the road to recovery. There are still some bumps in the road, but we are headed towards a healthy market again. In 2010, 19 condominiums sold in Leavenworth that were recorded in the North Central WA Multiple Listing Service (MLS). This is slightly more than 2009, when 18 condos sold locally. In 2011, 4 condos have sold so far in Leavenworth and another is pending. Currently there are 34 condos for sale, though we usually see more come on the market throughout the spring and summer.
What condos have been selling in Leavenworth?
Sales of Condos at Kahler Glen have been sluggish. One of the Kahler condos and one of the Natapoc townhomes sold in 2010. Currently there are 6 two bedroom units for sale at Kahler Glen with an average asking price of $253,000. The Cascade Crest Condos on Front Street sold well. All six units sold in less than 6 months after the bank holding the construction loan agreed to sell them at short sale prices. The average price for these units was $240,000. An investor holding numerous units at the Tumwater Townhomes decided to liquidate and we saw those units going for $129,000. Four of these condos sold in 2010 and no units are currently available at that price. All 16 of the condos at Rivepark (The “Yellow Condos” across from the hospital) have now sold. Three units sold in 2010 at an average price of $288,000. Currently, there are 3 re-sale units available.
New Construction Condos Still Available in Leavenworth?
New construction condominiums are still available at Ski View aka Ski Blick (on Titus Road). Four of these units sold last year and currently there are 7 units currently listed for sale (A total of 9 units have sold which means that 7 units have neither sold nor been listed.) One unit remains available at The Boulders on the Wenatchee River. The orginal units first listed in 2006 have now all sold. No condos ever sold at Haus Wunderbar (across from Gustav’s). According to Chelan County records, this building went back to the bank in June of 2010. In July the building was sold to EGN Legacy out of Wenatchee for $2,226,000. There were 10 residential units listed here, in addition to some commercial space at street level. The total listed value of these units was above $5 million. Click Here to see all Leavenworth Condos for Sale
Condo Dreams Abandoned
A number of condo projects in Leavenworth were not built or have been delayed indefinitely. These include:
Obststadl (At the Fruit Warehouse)
Sonnenterrassen
Construction has begun at the Blackbird site this spring, but we have unconfirmed rumors that the construction is going to be a hotel and not condos for sale.
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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.
