Chelan-Douglas Counties’ Resilient Real Estate Market Outperforms National Trends
Last week, the NAR reported a 1% decline in month-over-month sales for September, marking the slowest pace since the aftermath of 2008. Despite this trend, single-family home sales in Chelan-Douglas counties are thriving. For the fourth consecutive month, sales have surpassed $100 million, and with three months remaining, they are on track to easily surpass the total sales from 2022 and 2023.
See below:
Sales for September were virtually identical to August.
Although sales have increased, prices have softened. Year over year, prices per square foot have declined in most price ranges, and all price ranges under $1,000,000 saw decreases compared to last quarter.
Additionally, the NAR reported a 3.5% year-over-year decline in national sales. In contrast, local sales saw a remarkable increase of 28.7% in units sold and an impressive 58.6% in dollar volume compared to last year!
Year to date, the market remains strong, with unit volume up 9.6% and dollar volume rising 25%, driven by a $95 million increase in financed transactions.
Exploring the Dynamic Wenatchee Market: From Entiat to Malaga, Rock Island to Orondo and West to Cashmere
Year over year, the Wenatchee market experienced a 31.3% increase in transaction volume and a 43.9% rise in dollar volume, driven primarily by transactions in the $500,000 to $1,000,000 range, which were nearly double compared to last year for this month.
It’s hard to complain about 2024 if you’re earning from the Wenatchee housing market. Sales are up 21.7% in units and 31.9% in dollar volume, along with a 32% rise in financed transactions. A wide range of prices has benefited from this increased demand.
The Chelan Market: Encompassing Manson and Stehekin
The Chelan market had an outstanding September compared to last year, with sales nearly tripling, including a resurgence in the moderate $500,000 to $750,000 price range.
September figures indicate that Chelan has seen a 21% increase in unit volume and a 52% rise in dollar volume. While sales under $1 million have steadily increased, it’s the over $1 million price range that has significantly impacted this year’s activity.
Exploring the Upper Valley Market: Insights from Dryden to Stevens Pass, Including Leavenworth, Lake Wenatchee and Plain
Sales in the Upper Valley decreased by 11% in units but increased by 34% in dollar volume.
Year to date, the Upper Valley has experienced an 8.2% increase in transaction volume and a 25.7% rise in dollar volume.
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