Cashmere Real Estate Update for 2008

 While I feel good about the constant updates we have done about Leavenworth and Lake Wenatchee’s market activity, we haven’t done nearly as many real estate updates for Cashmere.

( We’ll have to add “More Cashmere Real Estate News” to our to-do list for 2009″ )
So let’s get to it shall we, how did Cashmere’s real estate market do in 2008?
                                                                      2005  2006  2007  2008 
Total number of houses for sale          102      93       106     114
Total number sold                                      67       50       41         34
Average price                                            198      278     291      259
Median Price                                             180      235     238       238

*These numbers are for single family homes. Only 1 condo sold in 2008 or 2007.
What do these numbers mean? The median house price is pretty stable. (Half of all houses sold sell more more than the median, half sell for less.) 

The average home price is really affected by the upper price ranges. Only 10 homes have sold above $400,000 in Cashmere in the past 2 years. 2 of these sales were in 2008 and the rest were in 2007. 
If you are thinking of selling a luxury home in Cashmere 2009 may not be ideal.  
Cashmere Real Estate Supply and Demand
 
Cashmere currently has 34 homes listed for sale. This is equal to 13 months of supply based on the rate of sales in 2008.
A 6 month supply of homes is considered a balanced market and 13 months would be considered a strong buyers market.
However, much of this supply is above $400,000 which we know is in less demand.
For homes under $400,000 in Cashmere there are 21 active homes which gives us a supply of 8 months which is closer to being a balanced market though it is still in the buyers favor.

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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.