After a quiet first quarter that we attributed to the winter storm damage, we saw Leavenworth home sales surge in spring of 2013 and a continuation of the high sales volume we started to see in 2012.
Unlike the Seattle region, we are continuing to see flat or slightly decreasing prices. The reason we have yet to see price increases is because supply continues to out pace demand. As we described in an earlier blog post, Leavenworth still has quite a bit of inventory compared to the demand which is depressing the prices.
This is good news for buyers trying to get a deal, but not for sellers, especially those who bought at higher prices in 2006 or 2007.
Both buyers and sellers should understand that this is a period of transition. Buyers may get a deal on a house, or they may end up in a multiple offer scenario bidding against another buyer. Sellers may get to choose among competing offers or they may have to reduce their price to meet the market.
We are seeing a large number of sellers turn down offers from buyers – either because the buyers are expecting too big of a discount or because sellers are overly optimistic about the increasing volume of sales.
See all the details and color charts in the original article:http://iciclecreekrealestate.com/2013/07/11/leavenworth-home-sales-spring-2013/
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