The local market remains vibrant!
Last week, the National Association of Realtors (NAR) reported a 1.9% month-over-month decline in sales nationwide, with the strong February perfomance still cited as a contributing factor. However, the Chelan/Douglas market continues to outperform national trends with a 26% increase in single-family home sales by unit volume and a 29.9% increase in dollar volume. This robust performance was driven by a 40% rise in financed transaction volume, including 8 sales over $1 million and 4 sales over $2 million.
The Chelan/Douglas market consistently surpasses national trends.
Furthermore, the NAR also revealed a 1.9% decrease in national year-over-year sales. Conversely, the Chelan/Douglas market presents a contrasting narrative, with year-over-year sales increasing by 39.24% in transactions and skyrocketing by 60.35% in dollar volume. Financed transactions witnessed a 46.30% uptick in transaction volume and an impressive 71.07% increase in dollar volume.
Chelan/Douglas Real Estate Market Sees Surge: 59 More Homes Financed, Sales Volume Soars by $48 Million Compared to Last Year
Comparing year-to-date figures as of April 30, 2024, with those from 2023, there’s a noticeable boost: 59 more homes were sold with financing, resulting in a sales volume of $48 million higher than the previous year. Nearly all price ranges experienced a substantial increase in financed sales volume.
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