March Snapshot for the Wenatchee Area
The “Snapshot” from Pacific Appraisal Associates for March is out. It shows a softening market in sales volume in both the Wenatchee multiple (down 10% in $) and the Wenatchee Market (down 24% in $). The number of homes sold is down 19% year to date in the Wenatchee multiple and 28% in the Wenatchee market.
But, for the good news, average home sales price year to date is still up 11% in the multiple and median price is still up by 10%. In the Wenatchee market area, both median and average price are up 7% year to date over last year.
There are lots of choices in the market. Every price range over $200k has at least 7 months inventory with many price ranges having 14 months or more. The number of homes listed this year versus last is up 18% in the multiple and 26% in the Wenatchee market year to date. Indicated Month’s Supply of homes now stands at 9 in the Wenatchee market overall. I can’t think of the reason more people would be selling this year than last year when the market was very hot.
The entire report is attached here for your perusal! Feel free to comment.
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