The real estate market in Leavenworth and Lake Wenatchee, WA has been doing really well these last few years. Prices seem to be increasing between 15-20% a year and inventory remains low.
However, despite this there is a BUYERS MARKET in a certain price range for qualified buyers. High end homes, especially those not on waterfront, are not selling quickly anywhere in the Wenatchee Valley. In our market I call high end any home above $700,000. Currently in Leavenworth and the surrounding area the recent sales price for a single family home is just above $300,000. Unfortunately, the average listing price is above $500,000. More and more high end homes are coming on the market each week.
How about some data... In the past year 4 non-waterfront homes above $700,000 sold in the entire Wenatchee Valley. From Lake Wenatchee to East Wenatchee. Four. Not quite a handful. Currently there are 26 homes on the market that meet this criteria. Unless the pattern is changing, this means we have a 6.5 year supply of these homes. A 78 month supply of homes is too much!
This is a BUYERS MARKET! The sellers may be in denial about this, but for those of you interested in a large home in a great neighborhood this might be the time to make the move.
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