Leavenworth Land Sales 2010
In 2009 Leavenworth land sales were pretty dismal, but this year’s first 3 quarters have shown a decent rebound in the number of sold parcels, if not the price.
In the first three quarters of 2010, 40 parcels of land have sold in the Leavenworth and Lake Wenatchee area–(this is both acreage and lots) compared to only 19 last year This is on par with 2008, where 39 parcels had sold. While the Leavenworth market is not back to the strength of previous years; 2007 with 91 sold, 2006 with 98 sold, and 2005 with 123 sold, it is still a good start to the recovery.
As far as pricing goes, it is always hard to quantify how land sales have changed. As agents, we know if interest from buyers is down, or if the number of sales is up. But to simply say the average price of land in Leavenworth has gone up or down, is not so simple. This is due to the differing nature of land ie size, access, slope, view, proximity to desirable location.
To analyze one segment of the land market, I looked at parcels just outside the town of Leavenworth (Ski Hill area and Icicle Valley) that were roughly an acre. Below are the number of parcels sold in a certain year and the average sold price.
Year # sold Average $
2007 3 $272,000
2008 4 $248,475
2009 1 $150,000
2010 9 $174,833
While 2009 does not give a good sample set for comparison, there is definitely a downward trend in prices. There is a 30% decrease between 2008 and 2010 prices. However, the number of sales is up over 50%. There is a good possibility that there just were not as many lots available on the market in the previous years, but the average sales price indicates that some sellers are now willing to let go of their property at a reduced rate to have it off their books and out of their hair.