Residential Sales in Wenatchee are stable in spite of turmoil…
The Wenatchee market, defying October’s financial turmoil, the runup to the election and the stock market, continue to be stable as they have been for the last several months. Pacific Appraisal once again sends us their October Snapshot showing sales down 27% in the overall market by both volume and dollar amount from last year. That means 57 homes were sold in October which is just near the average of 58 homes sold each month year to date. Average Sale Value and Median Sale Value are holding fairly steady as well.
The market continues to have an abundance of homes priced $300,000 and above. Rental vacancies have come up a bit to almost 5% overall. Real estate excise tax collections in Chelan County are down about 40% from last year. The pleasant news is there are not a bunch of surprises. Wouldn’t you like to be able to say that about the stock market!
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Hi Al,
I just wrote an article about Wenatchee’s amazing performance in spite of the financial mess in the country. Would love your comments:
http://www.carolswenatchee.com/wenatchee-realestate/2008/11/22/wenatchee-real-estate-the-amazing-story.html