Leavenworth Homes: $200,000 to $300,000
Question: What is the number of single family homes on the Leavenworth market between $200,000 and $300,000.
A move up in price range brings a dramatic increase in the number of available listings. From my previous post, the number of listings under $200,000 was 4. There are now 5 active listings since Geordie just listed a Ski Cabin for $199,900.
The current number of listings between $200K and $300,000 is 19. Ten of those listings are within the city limits of Leavenworth and 9 are in the surrounding areas. Of the city listings, 6 of those are older homes built between 1900-1920. Two were built in 1950’s and 2 in the 1990’s. These are typical entry level in town homes that usually need updating/repairs or are on very small city lots—30 feet across the front.
The other 9 listings are all cabins. Four of them are in the Ponderosa Estates Community, 1 in Chiwawa River Pines, 3 in the Lk. Wenatchee area and 1 up Hwy 97 in Valley Hi.
Nine of the 19 listings have experienced price reductions, and 1 a price increase. The average days on market is 93, however some of these listings are re-lists and actually have much longer market times.
There are currently 2 pending sales. One is a home about a mile up the Chumstick that has been on the market since last year pending at $280,000 (original list price $349,000). The other is a cute A-frame in Ponderosa pending at $209,500.
In the past year there have been 24 closings in this price range. Eight of the homes were in town and 16 were out of town cabins. Interestingly, 20 of these listings sold for under list price. Seven of those 20 had already had a price reduction and then sold for under the reduced listing price. Only 4 of the 24 sold for asking price and two of those had been re-listed at a lower price. While statistically the ratio of sale:list price is 96%, I was surprised by how few actually sold for asking price.
Looking at months of inventory supply in the two differing categories of town and cabins, there is a significantly greater amount of supply in town. There is currently 15 months of supply of in town homes and a seven months supply of cabins. Not surprisingly, western Washington buyers looking for cabins continue to be the bulk of business in the Leavenworth area.