Leavenworth WA Home Sales 2014 First Quarter

Leavenworth WA homes sales during the first quarter of 2014 were a bit sluggish.  Unlike last year, we didn’t have a horrible ice storm to contend with, just normal market influences that aren’t too surprising.
As you can see in this first chart, home prices continue to trend up, but the number of sales is down.
 

Low inventory and high buyer interest is causing buyers to snap up homes in many neighborhoods and price ranges. As we discussed earlier, inventory is likely to be a problem for buyers in Leavenworth in 2014.
The second chart shows how little inventory there really was in the first part of this year. This is a combination both of earlier sales reducing inventory and fewer new listings coming on the market.

 
While low inventory does tend to increase home prices, it also can be intimidating to buyers. In the Leavenworth market, many buyers are vacation home buyers and don’t have a timeline pressuring them to move. If there isn’t enough inventory to choose from, then buyers often choose to wait instead of choosing the best option from the available inventory.
Based on our experience with buyers this year, we think that it is lack of quality inventory that has reduced the number of sales, not increased prices or decreased buyer interest.
As we progress through the spring, we will see if more homes on the market increases the number of Leavenworth WA home sales.
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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.