Chelan & Douglas Counties:
On Friday, the NAR reported a month-over-month sales decline of 2.5% in August, and a 4.2% drop compared to August 2023. The Chelan-Douglas market also saw a slowdown, with sales down 5.7% in unit volume and 7.5% in dollar volume compared to July. A deeper look into the regions reveals a mixed picture across the two counties.
Additionally, the NAR announced a year-over-year national sales decline of 4.2%. Similarly, the local market experienced a slowdown compared to last year, with unit sales down 4.5%, though dollar volume increased by 10.9%.
Year-to-date, the market continues to show strong health, with unit volume up 7% and dollar volume up 20%, driven by a $71 million increase in financed transactions.
Exploring the Dynamic Wenatchee Market: From Entiat to Malaga, Rock Island to Orondo and West to Cashmere
Month-over-month, the Wenatchee Market experienced a decline of 12.4% in unit volume and 7.4% in dollar volume, primarily driven by a decrease in cash transactions across all price ranges.
Year-over-year, the Wenatchee Market saw a 2.9% increase in transaction volume and a 14% rise in dollar volume. This contrast is evident, with fewer transactions under $500K and a notable increase in homes priced over $1 million.
It’s hard to find complaints about 2024 if you’re earning from the Wenatchee housing market. Sales are up 20% in units and 30% in dollar volume, with nearly $100 million more in financed transactions.
The Chelan Market: Encompassing Manson and Stehekin
The trend continued in August, with fewer transactions under $1 million compared to last year and more transactions over $1 million. This led to a 20% decrease in unit volume, while dollar volume increased by 17.8%.
However, August year-to-date figures indicate a much healthier market compared to last year, with a 7% increase in unit volume and a 39% rise in dollar volume. Cash transactions over $1 million have led the charge, including six cash purchases over $3 million.
Exploring the Upper Valley Market: Insights from Dryden to Stevens Pass, Including Leavenworth, Lake Wenatchee and Plain
August was a strong month for the Upper Valley, with a 31% increase in unit volume and a 19.6% rise in dollar volume.
Year-to-date, the Upper Valley has experienced an 11.5% increase in transaction volume and a 24.2% rise in dollar volume, driven primarily by transactions over $1 million.
