Leavenworth Real Estate Blog

Is the Leavenworth real estate market slowing down in 2018?

Geordie Romer
on October 17, 2018

Buyers, sellers, real estate brokers, and appraisers all find themselves asking the same question.

 

Is the real estate market in Leavenworth slowing down?

 

We read reports in the Seattle papers about their market cooling off and wonder if the same thing is happening here. Are we headed to a more balanced market with more options for buyers or a systemic crash like we experienced in the recession?

 

If we look at the overall Leavenworth real estate market, there are certainly signs of a cool down. The number of sales YTD is down 21%, while the number of new listings is about the same as it was in 2017 and the median price is stable too.

 

Watching the market every day, our feeling is that there is high demand for moderately priced homes and very little inventory, and increasing supply of high priced homes, for which there are fewer buyers.

 

To test this hypothesis, we looked at homes listed for sale in Leavenworth between $350,000 and $550,000. This is approximately $100,000 above and below the median sales price.

 

 

In the past 3 years, we see that the average sales price is down slightly. While the number of homes sold in this price range is down from last year, the decrease is inline with the decrease in listed properties.

 

The most interesting news is that the Days on Market (DOM) is dropping quickly. This doesn’t surprise us at all.  Moderately priced homes in Leavenworth just don’t last long on the market.

 

Is the real estate market in Leavenworth slowing down in 2018?

 

For moderately priced homes, that doesn’t appear to be the case.

 

 

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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.

 

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.