In spite of the significant slowdown in Wenatchee real estate market activity, we are still seeing a decent number of pendings and closed sales comes across daily.  


One of the most interesting statistics I noticed on the May Pacific Appraisal SNAPSHOT report was that the number of homes sold year-to-date is DOWN 28%, BUT the number of homes listed year-to-date is UP 11%.  That will certainly do the trick in stabilizing prices by increasing supply over demand!


What Shelley and I are seeing is lots of homes coming on the market BUT they are cleaner and more competitively priced than we have seen in a very long time.  Homeowners are realizing they must do everything possible to make their home stand out in the (literal) crowd.  That means cleaning it up, deordorizing and pricing it realistically.   


Although statistics show a significant reduction in sales activity, we are still seeing healthy demand.  It appears the financing crisis has put a damper on many wannabe buyers and we are seeing more inquiries for seller financing and lease/purchase options.  We are also seing a strong demand for rental homes and vacation rentals.


The Wenatchee economy continues to be strong. We are blessed with a number of major industries, including hydro power production, aluminum production, agriculture, medical services, government services, educationaal services, and tourism.   With the population in the local area forecast to increase by 50% in the next two decades, housing will continue to be in high demand. 


As always, prices will be solely determined by the balance of supply-to-demand.  










For customized service contact the TOP Team:
Carol Williams  TopTeamCarol@gmail.com  
Shelley Granger  TopTeamShelley@gmail.com  


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