Market Review

The local Windermere offices in Wenatchee and Leavenworth have recently published a market review which has local real estate statistics for 2005. (I will mail you one for free if you ask.) Average prices for local towns (excluding new construction):
Wenatchee $189,000
E. Wenatchee $188,000
Cashmere $182,000
Leavenworth $267,000
Those prices seem ridiculously low, don’t they. Yep, that was 2005. Old news.
As of May 1, 2006.
The average pending home sale in Leavenworth is a home listed at $331,000. Since the average home here is selling at 95% of list we get a price of $314,000. We’re certainly heading towards another record year.
Currently there are only 44 homes on the Multiple Listing Service in the greater Leavenworth, Washington area. The average list price? $518,000.
What’s my point? $266,000 homes are harder and harder to find. If you own a modest home in the Leavenworth home, especially if it isn’t your primary residence, this might be a good time to sell. (or more likely a GREAT time)
Cashmere is hopping too. Because it’s a smaller portion of the market the numbers are easier to skew with a few listings. The average pending sale is $278,000. A little different than last year eh? A hundred thousand different! Average listing prices are astronomical, but easily explained. 2 multi-million dollar homes on 100+ acres bump the average up to $640,000. But with only 11 homes to choose from, prices are going up.
I guess the real estate bubble hasn’t popped here…