Kahler Glen Condos : Oversupply = Time to Buy

Updated 4/23/2012

Condos at the Kahler Glen Golf Course near Lake Wenatchee have been a favorite with Leavenworth vacation home buyers for the past few years. Everyone seems to have a favorite reason:

• On the Kahler Glen Golf Course
• XC ski out the door in winter on groomed trails
• About 200 sqft bigger than other 2 bedroom condos
• Minutes to Lake Wenatchee
• Easy to add to Kahler Glen Rental Pool

From 2005 to 2007 we saw relatively few condos at Kahler Glen come on the market and even less of the Natapoc units on Clubhouse Drive. This scarcity has caused prices to climb up and up and up. In 2005, 2006, and 2007 all the units that came on the market were sold. In early 2008, I had a client ask about Kahler Glen Condos and I helped him find one, even though there weren’t any listed. We were able to get one for $325,000 which included a membership to the Kahler Glen Athletic Club .   A few months later another agent listed a unit for $369,000.

Unfortunately for Kahler Glen Condo owners more units came on the market in 2008 as our real estate market was quieting down and the stock market was taking a nosedive. As more units came on the market, and no condos sold, the sellers had to adjust their prices. In 2008, 3 Kahler Glen Condos were listed on the MLS and in 2009 an additional 2 were added to the list.

In 2009, oversupply lead to dropping sales prices and I wrote that this might be a good time to take advantage of low prices. Despite an increase in sales, supply continued to outpace demand at Kahler Glen.

The following is an updated chart showing the history of Kahler Glen condo prices over time.

Kahler Glen condominium prices have dropped approximately 50% of their value since the peak of the market in 2007. They are the only subsection of the Leavenworth market to do so. Future pricing of these condos depends on the number of units available for sale in relation to the number of sales.

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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.