For the third quarter, 52 homes were sold in the Lake Chelan area as compared with 35 in 2008. That is still well below the levels of 2005 to 2007 which were all around 75 transactions for the third quarter. But, things really ground to a halt in the fall of 2008 so I will go out on a limb and say I expect the fourth quarter this year will be stronger than last year's.
Have a look at the Lake Chelan Real Estate Residential Sales Summary. In it you can see that the 4th quarter of last year was the worst quarter since we have been able to get data with only 12 sales total. So, I would take the bet that home sales in Lake Chelan for the rest of the year should be above last year's levels.
Both July and September also exceeded last year in sales. September saw 15 sales close, as compared to 9 in 2008. Average sale price was up in September, probably due to some waterfront closings, to $548,460. For the year, the average sale price is so far is $437,918 and is below 2008. The third quarter still shows pricing below last year's, but with improved volume of sales. Inventory is still high and prices should not increase until much of that inventory is worked off.
Lake Chelan waterfront homes continue outselling last year's pace with 13 sales compared to 8 last year. The average sale price on waterfront homes is now $1,102,730 as compared with $1,862,056 through September last year.
From a real estate sales perspective, things are looking up at Lake Chelan!
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