Leavenworth Real Estate – 2nd Quarter Market Report
The Leavenworth real estate market seems to be singing the same tune that we have heard for a while now.
The number of sales is down dramatically, but prices remain stable, perhaps even trending up if you’re an optimist.
Leavenworth Home Prices
Here’s what is not showing up on that chart. (Which may or may not be predictive.)
May Pending Sales are up 50% from 2008 to 2009. ( 6 homes increased to 9 homes)
June Pending Sales and Completed Sales stayed even in 2008 and 2009
Only 3 condos sold in Spring of 2009 (Compared to 5 in Spring 2008)
Land sales are down 66%this Spring (15 parcels sold in 2008, 5 in 2009)
There were a record # of homes for sale in June 2009. Never before have there been 179 homes for sale all at once. Most years the record happens in the fall. (157 in 2008, 137 in 2007.)
A waterfront home sold in Leavenworth for $1.3 million, tying the record price set a few years back
I think that Summer 2009 looks like it should be on par with 2008 as far as prices and the number of homes sold. It won’t be 2005 or 2006, but I’m not convinced we had a price bubble like so many other markets.
As many folks know, I try to find out the best way to look at the how the market is moving and how best to describe the trends I see.
I continue to take issue with those who feel that a monthly report has much statistical value and I am surprised by the low offers that some real estate agents are convincing their clients to submit because of some erroneous information floating around about price trends.
Certainly the condo market is not healthy and we have a glut of newer condos for sale. But condo prices have yet to drop to a price that makes home buyers switch to a condo for a better value. Until that happens, the Leavenworth condo market and the Leavenworth home market will remain separate beasts.
One project I am currently working on is to create price trend reports based on quartiles. (Thanks to the folks at Altos.com for the idea, sorry your product isn’t available for my market.) Has the upper end of the market slowed down? Are the cheapest houses selling or only the houses in the median price ranges? Dividing the price ranges into quartiles should help.
What metrics would help you understand Leavenworth real estate a little better?
What info would you like to see that would help you make better decisions?
I can’t wait to hear from you.
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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.
