Leavenworth Home Prices Summer 2014
Leavenworth had a good summer of home sales and Leavenworth home prices are mostly stable, although we did see a small drop in the average home price this quarter. The number of homes that sold in Leavenworth in the 3rd quarter is up 16% from 2013. 42 homes sold compared to only 36 last year. Year over year we are mostly on par with 2013. 93 homes sold last year and 91 have sold in the first 3 quarters of 2014. Home prices are much improved from the bottom of the market in 2009 and mostly the same as 2013. (Much depends on whether you think the average/ mean price is more indicative of trends or if you think the median sales price is the more important number.) The average home price is down this summer from $409,000 to $362,000. For the first three quarters of 2014, the average sales price is down 7% from $376,000 to $344,000. Median home prices are more stable. This summer’s median price is down from $355,000 to $338,000. For all of 2014, year-to-date, the median is slightly down from $329,000 to $326,000. Both home buyers and sellers in the Leavenworth real estate market would be well advised to study the differences in the left side of this chart and the right side. Leavenworth home sellers should realize that while demand has improved, it’s not yet at the huge levels of 2006. (As indicated in the size of the green bar.) Likewise, home buyers should realize that the market is much improved from 2009 and few of the bargain basement prices that existed then still do. As we have said often this year, low inventory in Leavenworth continues to be a problem. One interesting observation is that we saw more closed sales (16) in September than we did new listings (12). This is usually something we see at the very end of the year. ********************************************************************************************************** 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.
