Analysis of Financed Transactions in the Wenatchee Market
We’ll explore the regional sections of Chelan and Douglas counties later in this report, but first, I’d like to highlight the consistent rise in financed transactions throughout the year, as shown in the schedule below. This schedule focuses on the Wenatchee Market, which has a higher concentration of middle-class homes. Could a continued gradual decline in interest rates lead to a bustling winter season?
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.
Chelan & Douglas August 2024 vs july 2024
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%.
Chelan & Douglas August 2024 vs August 2023
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.
Chelan & Douglas: August 2024 vs August 2023 YTD
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.
Wenatchee: August 2024 vs July 2024
Wenatchee: August 2024 vs August 2023
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.
Wenatchee: August 2024 vs August 2023 YTD
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%.
Chelan: August 2024 vs August 2023
Chelan: August 2024 vs August 2023 YTD
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.
Upper Valley: August 2024 vs August 2023
Upper Valley: August 2024 vs August 2023 YTD
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.
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