The following report was submitted by local real estate agent Geoffery Ford of Windermere Real Estate. This data is the most current information available for the first half of 2012. Check out the numbers and see how residential real estate has fared in our neck of the woods.
Leavenworth Residential Real Estate Report: Currently we are looking at average prices that have rolled back to 2006 levels with the peak occurring in 2007. Since 2007 average prices have declined 11%. Inventory levels have varied little since 2009 and remain high. Sales have increased slightly since 2009 but, are still about half of levels observed from 2004 to 2006.
Average Sales Price
H1 2011 $311,207
H1 2012 $336,273
Percent Change 8.05%
The following report was submitted by local real estate agent Geoffery Ford of Windermere Real Estate. This data is the most current information available for the first half of 2012. Check out the numbers and see how residential real estate has fared in our neck of the woods.
First Half of 2012
This report contains Residential Real Estate sales data for transactions considered “Arms Length Transactions” as well as current inventory data in selected North Central Washington areas. Data provided by NCWAR and FlexMLS.
Leavenworth Residential Real Estate Report including the Chumstick, Plain, and Lake Wenatchee Areas:
Average Sales Price
H1 2011 $311,207
H1 2012 $336,273
Percent Change 8.05%
Median Sales Price
H1 2011 $280,000
H1 2012 $284,000
Percent Change 1.43%
Number of Sales
H1 2011 41
H1 2012 43
Percent Change 4.9%
Active Listings
June 30 2011 234
June 30 2012 232
Percent Change -0.09%
Months Supply
June 2011 33.76
June 2012 27.03
Currently we are looking at average prices that have rolled back to 2006 levels with the peak occurring in 2007. Since 2007 average prices have declined 11%. Inventory levels have varied little since 2009 and remain high. Sales have increased slightly since 2009 but, are still about half of levels observed from 2004 to 2006.
Peshatin Residential Real Estate Report includes the Blewett Pass Area:
Average Sales Price
H1 2011 $196,633
H1 2012 $117,037
Percent Change -40.48%
Median Sales Price
H1 2011 $130,000
H1 2012 $100,000
Percent Change -23.08%
Number of Sales
H1 2011 3
H1 2012 3
Percent Change 0%
Active Listings
June 30 2011 28
June 30 2012 20
Percent Change -28.6%
Months Supply
June 2011 38.67
June 2012 30.00
Sales prices in the report are somewhat deceptive due to the small volume of sales in this area. Average prices from a peak in 2007 declined by 21.47% Sales levels are about half of what was observed 2005-2006. Inventory levels have have elevated since 2009 and remain high.
Cashmere Residential Real Estate Report:
Average Sales Price
H1 2011 $269,941
H1 2012 $241,681
Percent Change -10.47%
Median Sales Price
H1 2011 $190,000
H1 2012 $223,000
Percent Change 17.37%
Number of Sales
H1 2011 17
H1 2012 17
Percent Change 0%
Active Listings
June 30 2010 53
June 30 2011 51
Percent Change -3.8%
Months Supply
June 2011 17.14
June 2012 13.91
Average prices from the peak in 2006 have decreased 6.55%. Inventory levels have declined moderately since 2009 and remain moderately high. Sales have increased slightly since 2009 but are still about half of what was observed from 2004 to 2005.
Wenatchee Residential Real Estate Report:
Average Sales Price
H1 2011 $206,989
H1 2012 $221,431
Percent Change 6.98%
Median Sales Price
H1 2011 $185,000
H1 2012 $194,250
Percent Change 5.00%
Number of Sales
H1 2011 148
H1 2012 202
Percent Change 36.5%
Active Listings
June 30 2011 344
June 30 2012 323
Percent Change -6.1%
Months Supply
June 2011 12.84
June 2012 10.25
Currently we are looking at prices that have rolled back to 2006 levels. Average prices have declined from a peak in 2008 by 13.46%. Inventory levels have declined slightly since 2009 and remain slightly high. Sales have increased somewhat but are less than the levels observed from 2004 to 2006.
East Wenatchee Residential Real Estate Report:
Average Sales Price
H1 2011 $228,223
H1 2012 $218,109
Percent Change -4.43%
Median Sales Price
H1 2011 $203,300
H1 2012 $198,900
Percent Change -2.16%
Number of Sales
H1 2011 110
H1 2012 120
Percent Change 9.1%
Active Listings
June 30 2011 299
June 30 2012 239
Percent Change -20.1%
Months Supply
June 2011 16.05
June 2012 9.59
Currently we are looking at prices that have rolled back to a point somewhere last observed between 2005 and 2006. Average prices have declined from a peak in 2007 by 17.08%. Inventory levels have declined moderately since 2010 and remain slightly high. Sales have increased moderately since 2010 but, are still less than levels observed from 2004 to 2006.
*Average Sales Price is the mathematical mean of homes sold.
*Median Sales Price is is the middle value of a series of numbers. Say 1, 3, 5, 7, 9. In this example 5 would be the median value of those numbers.
*Number of Sales is the number of homes sold in that area during that period.
*Active Listings are the number of homes on the market on the last day of the period.
*Months Supply is the number of months it would take for the existing inventory to be sold at the current rate of sales.
In conclusion, keep in mind where you saw these numbers first. Similar reports will be generated and written. Mind you though, not in such a timely manner. I intentionally avoid making any predictions or forecasts unless the overall trends are obvious.
We are currently bouncing along the bottom. Nobody is going to ring a bell when the absolute bottom is reached. Several have claimed the bottom has been reached at various points over the past 3 years. No matter where the Real Estate Market is, there are always a handful of good deals, some fair and square deals, and some not so good deals available.
