Leavenworth Real Estate Blog

2021 Spring Home Prices - Leavenworth Washington

Geordie Romer
on July 14, 2021

At the risk of sounding like a broken record player, the Leavenworth real estate market has not ceased to astound all observers.  The second quarter of 2021 broke all sorts of new ground, driven by buyer demand that continues to radically outpace supply.

Leavenworth home prices

 

While the average consumer might gasp at the increase in Leavenworth home prices, the statistic that grabs us is the record number of homes that have sold in the past three months.  Both buyers and their agents have been quite distressed about the lack of new inventory and rightfully so.  In the spring of 2021, new listings are down 25% compared to the same time last year.  Despite the lack of choices, home sales have actually increased, not just on a year-to-year basis, but at an all time record.  55 homes successfully closed in the Leavenworth area in the second quarter. This is a huge increase compared to anything in the last decade.

 

With decreased inventory and skyrocketing demand, prices can only go up. The average home sold for 101% of the list price.  This was a result of half of the homes in Leavenworth selling for above the asking price.  Bidding wars on these houses caused them to sell for 6% higher than the list price.  

 

The average home price for a single family home in Leavenworth in the spring of 2021 soared to $764,000.  This is an increase of 6.8% since 2020.  The median sales price is up to $675,000.  This is a 14% YOY increase.

 

What will the rest of 2021 look like for Leavenworth home prices?

 

Like many other parts of the country, we are starting to see the very first glimpses of increased inventory.  In the Leavenworth market, the new inventory we are seeing is at the top of the market with more homes above $1 million and even $2 million being offered for sale.  In the month of June, nine homes above $900,000 were listed for sale which is a significant uptick.

 

The increase in supply of luxury homes won’t help the average Leavenworth home buyer but it might portend similar trends in the rest of the market.  At some point, home prices become so attractive to homeowners that they decide it makes sense to sell.

 

Will we have a balanced market or normal real estate conditions in Leavenworth in 2021? That seems unlikely, but it does seem that ever increasing prices will likely bring more sellers into the market or scare off some potential buyers.  Halfway through 2021, it looks like both possibilities are slowly starting to happen in Leavenworth.

 

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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 Lake Wenatchee and Leavenworth 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.