geoff_68x95Geoffrey S Ford
Windermere Real Estate NCW

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 quarter of 2012.  Check out the numbers and see how residential real estate has fared in our neck of the woods.

Quarter 1 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
Q1 2011    $330,029
Q1 2012    $306,918
Percent Change    -7.00%

Median Sales Price
Q1 2011    $291,750
Q1 2012    $260,000
Percent Change    -10.88%

Number of Sales
Q1 2011    21
Q1 2012    20
Percent Change    -4.8%

Active Listings
March 31 2011    179
March 31 2012    154
Percent Change    -14.0%

Months Supply
March 2011    21.94
March 2012    18.12

Currently we are looking at prices that have rolled back to 2006 levels.  Inventory levels have declined slightly since 2009.  Sales have increased slightly since 2009 but are still about half of levels observed from 2004 to 2006.

Other notable trends within this sector: 

A 33.3% decrease of sales at the 140-160k price point shrinking from 3 sale in Q1 2011 to 2 sales in Q1 2011.
A 50% increase of sales at the 160-180k price point growing from 2 sales in Q1 2010 to 3 sales in Q1 2011.
A 100% increase of sales at the 180-200k price point growing from 0 sales in Q1 2011 to 1 sales in Q1 2012.
A 50% increase of sales at the 250-300k price point growing from 4 sales in Q1 2011 to 6 sales in Q1 2012.
A 66.7% decrease of sales at the 300-400k price point shrinking from 6 sales in Q1 2011 to 4 sales in Q1 2012.

Peshatin Residential Real Estate Report includes the Blewett Pass Area.

Average Sales Price
Q1 2011   $127,450
Q1 2012   $128,055
Percent Change    -0.47%

Median Sales Price
Q1 2011   $127,450
Q1 2012   $128,055
Percent Change    -0.47%

Number of Sales
Q1 2011    2
Q1 2012    2
Percent Change    0%

Active Listings
March 31 2011    18
March 31 2012    10
Percent Change    -44.4%

Months Supply
March 2011    27.60
March 2012    17.14

Sales prices in the report are somewhat deceptive due to the small volume of sales in this area.  Average prices in Peshastin have actually increased almost every year since 2004.  Sales levels are about half of what was observed 2005-2006.  Inventory levels have declined slightly.

Cashmere Residential Real Estate Report

Average Sales Price
Q1 2011    $320,333
Q1 2012    $192,400
Percent Change    -39.94%

Median Sales Price
Q1 2011    $182,000
Q1 2012    $180,000
Percent Change    -1.10%

Number of Sales
Q1 2011    9
Q1 2012    5
Percent Change    -44.4%

Active Listings
March 31 2010    34
March 31 2011    40
Percent Change    17.6%

Months Supply
March 2011    12.00
March 2012    12.31

Currently we are looking at prices that have rolled back to a point somewhere between 2005 and 2006. Inventory levels have declined moderately since 2009.  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
Q1 2011    $204,683
Q1 2012    $209,976
Percent Change    2.59%

Median Sales Price
Q1 2011    $185,450
Q1 2012    $205,000
Percent Change    10.54%

Number of Sales
Q1 2011   70
Q1 2012   75
Percent Change    7.1%

Active Listings
March 2011    305
March 2012    324
Percent Change    6.2%

Months Supply
March 2011    9.87
March 2012    11.54

Currently we are looking at prices that have rolled back to 2006 levels.  Inventory levels have declined slightly since 2009.  Sales have stayed about the same since 2009 but are still about half of level observed from 2004 to 2006.

East Wenatchee Residential Real Estate Report

Average Sales Price
Q1 2011    $230,517
Q1 2012    $211,197
Percent Change    -8.38%

Median Sales Price
Q1 2011    $215,450
Q1 2012    $190,000
Percent Change    -11.81%

Number of Sales
Q1 2011    52
Q1 2012    51
Percent Change    -1.9%

Active Listings
March 31 2011    241
March 31 2012    225
Percent Change    -8.1%

Months Supply
March 2011    12.44
March 2012    9.34

Currently we are looking at prices that have rolled back to a point somewhere last observed between 2005 and 2006.  Inventory levels have declined moderately since 2010.  Sales have increased slightly since 2010 but, is 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 the first quarter of 2012.

Active Listings are the number of homes on the market on the last day of the quarter.

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.