Leavenworth Home Prices 2021
A year ago we had just started our coronavirus lockdown and everyone was filled with uncertainty. Plans for almost everything were canceled or put on hold indefinitely. Thankfully in 2021, we are starting to see the light at the end of the tunnel.
In April of 2020, we had no idea what effect the pandemic would have on real estate. I don’t think anyone expected a massive surge in demand and in home prices.
When looking at first quarter statistics for Leavenworth in the beginning of 2020, we saw a spike in million dollar home sales that seemed very uncharacteristic. However, it was just the beginning of a trend. In 2020, the number of million dollar homes that sold in Leavenworth tripled.
In fact, when we look at the spike in Leavenworth home prices, we see that both average and median sales prices continue to climb from where they were a year ago. The average Leavenworth home sold for $745,000 with the median climbing to $675,000 in the first quarter of 2021.
The average sales price for a Leavenworth home a year ago was $692,000 and in 2019 it was $452,000. The median price has climbed from $630,000 a year ago and in 2019 it was $385,000.
Inventory remains quite low and most homes are accepting offers within a week of hitting the market and usually with multiple offers.
For sellers, this is an incredible market to take advantage of your investment. For buyers, it can be very challenging.
While the number of listings does tend to increase in the 2nd and 3rd quarters, we expect demand to massively outstrip supply throughout 2021. Prices will likely continue to climb and bidding wars are likely going to be the rule and not the exception. This is probably going to be the case for both single family homes and condominiums as well as undeveloped parcels of land
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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.
