"Statistics are like a bikini. What they reveal is interesting. But what they hide is vital."
I am no longer a licensed real estate agent, but I can pull a lot of information from Pacific Appraisal Associates here in Wenatchee. PAA does a Real Estate Snapshot report each month for Wenatchee, Leavenworth, and Cashmere. These reports are full of very interesting statistics. It doesn't tell the whole story, but it certainly shows trends in the market.
First the good news:
There is a significant increase in building permits. Permits for single family units are up only slightly (from 178 to 183) but the increase in multi-plex and apartment units is up significantly. This should relieve some of the severe rental unit shortage.
Here is an overview of inventory by price range. As you can see, inventory in the under $300,000 range is very tight based on months supply. The largest percentage of activity is in the $250,000 - $350,000 ranges. Homes in the over $550,000 price range have the longest on-market time.
Here is the full August 2018 Wenatchee Housing Market Report.
As always, it is prudent to get the advice of a competent local real estate professional for the most current real estate news, info and trends. If you need some recommendations, please let me know.
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