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Why aren’t homes in Cashmere Selling? (It’s the price…)

Posted by Geordie Romer on March 6, 2007

Allyson got this bit of fan mail today…
“So what is up with the blog? I notice that the frequency of postings has decreased–I rely on it to keep up to date on the greater Leavenworth real estate market–I am starting to get the shakes–when will we get a new post?”
This is for you Holly….
I have been a little surprised that there hasn’t been much movement in the usually crazy Cashmere housing market. Currently, there are 10 homes on the market in Cashmere under $300,000. This is about a 3.5 month supply. Clearly a strong seller’s market by most approximations.
Yet, there is only 1 pending sale!
I decided to dig deeper.
In the last 6 months, 17 homes sold in this price range. The average home was 1660 square feet and sold for $190,000.
The current crop of homes average just about 1600 square feet, but are on the market for $240,000.
Now it’s POSSSIBLE that the homes on the market today are much nicer, newer, etc homes, but…. not very LIKELY!
In the last 6 months homes in this price range sold in average of 72 days – just over 2 months. The current crop is averaging 61 days.
Cashmere homeowners take note – this is a healthy market, but your GREED is getting in the way of your agent selling your house. Real estate agents in Cashmere – you need to have “the talk” with your sellers.

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    If you’re planning to buy a home in this area, the best place to start is with the Leavenworth Home Buyer’s Guide.

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