Leavenworth Condo Update: Spring 2010

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 2009, 18 condominiums sold that were recorded in the North Central WA Multiple Listing Service (MLS).  This does not include condos sold at auction in December of 2008 that closed in 2009. In 2010 6 condos have sold so far and another 6 are pending.  Currently there are 30 condos for sale, though I expect more to come on the market as the season develops.
 
What condos have been selling in Leavenworth?
Condos at Kahler Glen  have sold well in the past year. Oversupply at Kahler Glen  drove down prices and buyers have taken advantage of those deals. 5 condos have sold at Kahler Glen and a 3 bedroom Natapoc unit is currently under contract. The average price for an older 2 bedroom condo at Kahler Glen in the past year was $263,000. The Cascade Crest Condos  also 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. Most of those sales have closed and no units are currently available at that price.
Condos Still Available
New construction condominiums are still available at Ski View aka Ski Blick (on Titus Road) as well as the Boulders on the Wenatchee River.  No condos have sold at Haus Wunderbar (across from Gustav’s).  These units are not currently listed on the MLS and a reliable source tells me that they are going to auction sometime soon. 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 
 Sonnenterrassen
Black Bird

**********************************************************************************************************
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.