Yesterday I posted a market update on the condominium market in the Wenatchee area. Today, on my primary Wenatchee real estate blog, I posted some single family housing market statistics for the first half of 2007 compared to the first half of 2006.
Similarly to the condo trend:
Listings are up
Closed sales are down
Prices are up significantly
In spite of all this, it's unlikely our market will see a downturn in prices. Our market conditions and economy are strong and diverse. I expect a much needed stabilization. For the full article go to Carol's Wenatchee Real Estate blog.
With 4th of July coming up tomorrow, I couldn't resist posting this picture of the American flag flying high at the Chelan County, Washington fairgrounds in Cashmere (about 7 miles west of Wenatchee). In the distance you can see the beautiful Cascade Mountain range.
Windermere Real Estate / NCW - Leavenworth, WA
Serving Leavenworth, Lake Wenatchee, and Plain
One interesting thing to note. Leavenworth is similar to Wenatchee in that #of sales is down and # of listings is up and average prices are up too. However, in Wenatchee the $ amount of sales volume is up, while in Leavenworth the $ volume is down.
I see this as too much inventory in Leavenworth in the top end. Every week we see a new listing above $600,000 when the buyers really are looking under $400,000.
Jul 05, 2007 02:31 AM
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
Hi Geordie: There is too much inventory at the top end in Wenatchee as well. The difference between the "median" price and the "average" price tells the story on where people want to buy in relation to the inventory.
Jul 05, 2007 03:08 AM
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