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Category Archives: Leavenworth Real Estate Market
Leavenworth 3 bedroom home prices explode!
I was running some numbers today for a Windermere publication that comes out quarterly. It uses average prices of sold 3 bedroom homes as a gauge of the market. For the first half of 2006, the average 3 bedroom home in the Leavenworth area. (including Plain and Lake Wenatchee) was $375,000. For the second half it is up to $458,000. I double checked. Those …
Leavenworth Real Estate Update
I ran some stats today for the Leavenworth real estate market. The statistics show what my instinct tells me. Generally it is a Buyers market based on months of inventory and percentage of pending listings. However, sellers are continuing to raise prices and are perhaps more confident than they should be. Of course all of this depends on price point and location. These statistics …
Pending Ratios
As I’ve discussed before, pending ratios are a good way to look at how “hot” a particular real estate market is and to compare it to other markets or the same market at a different time. I noticed today we have 83 active listings for single family homes in the Leavenworth area. This is certainly a lot more than the 40 some we had …
Market Update
I had a spare moment so I decided to take a look at market numbers for the Leavenworth market. I think this is really important since these numbers are in contrast with housing sales nationally. (National Stats) If we look at the number of homes (single family, not condos or manufactured homes) sold in 2006 we see an increase of 7% in the number …
More “non-traditional” homes for sale
Since I posted about homes without permits, wells, or septics being put on the market we have seen a few more. Both are being offered under $100,000 and fit into the tear down category. The previous offerings were nice little cabins, even if they didn’t meet current legal or health requirments. The newest offerings? Little to no value as structures, in my opinion. (I …
Absorption Rates
What is an absorption rate? It is the average number of houses that sell per month and it tells us what kind of inventory we have. I ran some numbers today which confirm what I thought was the case. Currently there are 57 single family homes (not including condos or manufactured homes) in the general Leavenworth market. This includes Plain, Peshastin, and Lake Wenatchee. …
No permit, no well, no septic
Think this might be a problem for selling a house? Apparently not in today’s real estate market for Leavenworth Washington. Two homes recently popped on the market just outside of town. Nice little fixer upper cabins. Cabins without water, wired for generators and hooked up to sketchy homemade septic systems. Both received multiple offers in just a few days. A surprise to a number …
Fortune Magazine “Real Estate Survival guideR...
My new issue of Fortune came in the mail today. I’ve been a fan of the mag the last year or so. I don’t really have the energy to pour through the Economist like I used to, nor do I feel like I need to start each day with the WSJ or NYT. I tried Money, but was often dismayed by their lack of …
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 …
Interest Rates
In my discussions with my favorite lender, Darel Ansley of People’s Bank, it sounds like interest rates are starting to nudge up again. (Around 6.5% +/-) Mortgage professionals are guessing it could reach 6.7% later this summer. The good news is that this is likely as high as it will get for a while. If rates stay under 7% for a few years it …