Sales Slowing a bit in the Chelan Market
I have posted a spreadsheet showing historical residential sales numbers from 2005 in the Chelan Co-Brokers’ MLS.
The number of pending sales has climbed from the lower to mid twenties to the 42 to 44 range. Traffic in town has been picking up and I, and other real estate folks have been pretty active showing and listing property.
BUT, the first quarter sales are 19 homes in the first quarter, down from 29 in 2006 and 2007, but up from 11 in 2005. The Average Sale Price is still up year to year, to $484,257 from $413,023 in 2007. The Average Sale Price was only $220,681 in 2005.
AND, only 4 residences were sold in March, excluding timeshares, at an Average Sale Price of $378,000. With only 4 sales, I don’t put much stock in the Average Sale Price being statistically significant. But, it does appear pretty clearly that 2008 is starting a bit more slowly than 2007 did. Please share your thoughts in the comments.
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Interesting. Wenatchee is seeing a similar trend, but Leavenworth and Cashmere are headed the other direction. After a slow 4th Quarter in 2007, Leavenworth has really picked up in Q1 for 2007. I’ll post a report here for Leavenworth in the next week or so.
Here is the info for the Leavenworth market if folks are interested.
http://www.myleavenworth.com/2008/04/leavenworth-real-estate-stats-for-q1.html