Caution - Watch Leavenworth Real Estate Values
At the risk of getting into hot water with the Leavenworth real estate agents, I am cautioning potential buyers to watch the market over the next few months before making a buying decision.
There was an article in last night’s Wenatchee World newspaper about the upcoming closure of Longview Fibre’s Winton lumber mill 14 miles northwest of Leavenworth. According to the article, this will displace 100 workers. How many of these displaced workers will need to sell their homes. Will this increase the inventory of homes for sale enough to put downward pressure on prices. Perhaps. I will be watching the trend over the next few months.
You can read the complete article here. Stay tuned for future updates.
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Carol Williams
in Miscellaneous news, info, ramblings, Leavenworth Real Estate, General Area News & Info, Buyer Needs
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Reader Comments (6)
As I think I mentioned over on www.activerain.com I don't think the closing of the mill is going to add a glut of homes to our market. Leavenworth's real estate market functions as a distinct market from the Wenatchee and Cashmere markets. The scarcity of good paying jobs has little to do with the real estate market as most buyers are vacation home buyers from Western Washington. If we do see prices coming down it will be with homes inside the city limits between 200-300,000. There already is a glut here - prices are too high for local buyers (and quality is not great.) and these are not houses vacation buyers are buying. The hot item remains a "cabin" outside of town under $300,000.
I wouldn't expect prices in town to come down. I would expect longer market times and I would expect that sellers and their agents need to do more than just the 3 P's - put a sign in the ground, put in on the MLS and pray! To sell a house in Leavenworth sellers need to stage their home so buyers can see all of it's potential and they need to price it competitively. I don't think Leavenworth is a "buyer beware" market. I think it is a "buyers bring your checkbook" market. There are some great options if you know where to look.
Geordie