Every month I put out a report on the performance of the Lake Chelan Real Estate Market. With information through March, 2009, The Lake Chelan Residential Sales Summary is available from Criterion Properties, the Lake Chelan real estate specialists! There were 4 residential transactions closed in March 2009 as compared to 6 for 2008. For the 1st quarter of 2009, there were 14 transactions as compared to 21 last year making 2009 sales so far only 66% of 2008. However, transaction volume increased from the 4th quarter of 2008 which only had 12 transactions for the quarter. So, the news is mixed and depends a bunch on your perspective!
There is also some good news on average sales price, which is $495,066 for the first quarter as compared to $474,995 in the first quarter of 2008. Buyers, when they buy, are still spending above previous levels. The 87.39% sales price to list price ratio implies that those buyers are probably getting more home than in the past for their dollars. That confirms what we are seeing out there with homes often selling below assessed value.
Sellers, homes that are priced well, presented well and marketed beyond the norm are selling. For buyers, there is a tremendous selection and bargains are available!
Comments(0)