I agree with you on the challenges of market reports in small markets. I try to remember to request folks look at a minimum of the quarterly numbers to try to discern any trends since the monthly numbers are completely statistically insignificant.

Activity is up in Chelan! However, it is not reflected in the pending sales which are down. That is probably due to the deposits on The Lake House project which obtained occupancy, which had deals pending for some time, actually becoming sales. I had a deal close last week that went from mutual to closing in three days, so it did not impact pending sales for long.

While the average price for Leavenworth is down 6% for the first quarter, median prices were up 7%. (By the end of April median prices YTD had dropped to 0% appreciation.)
I think quarterly updates smooth out some of the inevitable bumps – in either a raising or falling market.

Here is my update for the 1st three months of activity in Leavenworth and how that compares to years past.

http://iciclecreekrealestate.com/2009/04/05/leavenworth-real-estate-first-quarter-2009-market-update/

What you don’t see in these numbers is the current activity. May in Leavenworth has been hopping. We have 50% more pending single family homes than 1 year ago, including a home listed for $1.4 million which will throw off the numbers for June.

On the flip side, we now have more homes on the market (in Leavenworth) than ever before. A huge supply is not the seller’s friend, but it sure is great if you are a buyer. Here’s one extreme example near Lake Wenatchee.

http://iciclecreekrealestate.com/2009/05/23/kahler-glen-condos-oversupply-time-to-buy/

What are you seeing as far as activity in Lake Chelan?