If you're curious about overall market activity in the Wenatchee and East Wenatchee market areas, here is some information for you.  This information is for Wenatchee and East Wenatchee only.  It does include Malaga in Chelan County and Rock Island in Douglas County, but not Cashmere, Leavenworth or Waterville.


Single family homes:
  Currently for sale  420
  Sold last 30 days    62
  Percent of inventory sold last 30 days  15%


Manufactured and Mobile Homes
  Currently for sale  41
  Sold last 30 days  12
  Percent of inventory sold last 30 days  30%


Condos
  Currentlyfor sale  62
  Sold last 30 days   3
  Percent of inventory old last 30 days  4%


What do these numbers tell us?  Statistics can be deceiving and you kind of need to be "in" the market on a daily basis to fully understand what is happening. 


Overall, closed sales for the last 30 days were about 14% of the total inventory.  


Manufactured and mobile homes led the way at 30% and, I suspect, this is because they fall in the "affordable" category. 


Condos (at 4%) are not selling as briskly as they should for the inventory available. Many home shoppers still want the American dream of a home and land... but reality may set in and the acceptance of condos as a first home may increase.  There are several under construction condos Pending, and most of these are to the retired and baby boom sector (not first time home buyers).  These do not fall into the "affordable" housing category that I think of for first time home buyers. 


Single family homes (at 15%) are right at the market average rate of sales.  What these statistics don't show you is the acitivity level per price range.  That can be fodder for another post but I can tell you homes priced at over $300,000 are selling at a much slower pace than those in the lower price ranges.  Overall, mobiles and manufactured housing is bringing the average up and the condos bringing it back down. 


For the purpose of explanation, I define the difference between "mobiles" and "manufactured" housing as follows:  "Mobiles" are manufactured homes on leased land.  "Manufactured" homes are manufactured homes that include land with the sale.   Not all agents categorize these as I do so it is difficult to get accurate individual statistics for mobiles and manufactureds without reviewing every single listing. 


All that being said, and considering the gloom and doom reported in the national media, our market seems fairly healthy... in spite of the seasonal slowdown, tigtening of financing and other factors.


With the strength and diversity of our local economy, I anticipate somewhat slow activity during the winter and another surge in the Spring.  Because of this, between now and late winter will be a great time to buy as motivated sellers reduce prices to compete with other inventory and to sell as quickly as possible. 



For a personalized consultation, specifically relating to your real estate needs contact the TOP Team:

Carol Williams  TopTeamCarol@gmail.com 

Shelley Granger  TopTeamShelley@gmail.com



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