Last year I wrote a blog post using the title above. Same conditions. Same time of year. Back then, I had wondered if enough sellers would appear to keep pace with buyer demand. My post in September suggested the answer was yes. But since then inventory has dropped to a five-year low. What does this mean for 2018?
Guy Evans – Top CB Agent – October 2017
I was excited to be recognized as the Top Sales Agent at Coldwell Banker Lake Chelan Properties (CBLCP) for the month of October. I started my general real estate career a short fourteen months ago in July of 2016. Great support and mentorship from seasoned agents such as Rhett Crow and Kim Skaar have helped get me this far this fast. I’m proud to a be a member of the CBLCP team!
Interested in a vacation condo in Lake Chelan? Access to the lake and proximity to downtown Chelan define the market. Resort amenities, HOA fees, and rentability are also significant factors. Here’s a quick primer to help you start your search.
Primary Value Drivers: Waterfront & Location
It comes as no surprise that condos with waterfront access and close proximity to downtown Chelan have the highest values. Peterson’s Waterfront and Spader Bay Condominiums are the premium examples in this class. Both offer incredible lake access and views as well as walkability to downtown Chelan. Prices for units in these two associations start in the 400’s. (more…)
The Lake Chelan real estate market may have reached a new cruising altitude in 2017. The median sales price has stabilized. The inventory of homes for sale rebounded after a spotty spring. And the volume of home sales in 2017 has matched 2016 numbers nearly exactly. Here’s a quick recap.
MEDIAN SALES PRICE:
The year began with a question: What would the market do in the face of minimal inventory? The answer is it responded quite sanely. Sellers stepped forward in May, inventory increased, and prices stuck to the 425K median.
Ever wonder why some homes sell in a heartbeat and others languish on the market? It’s a bit like baking a cake. Assemble the right ingredients in the right proportions, and voila! – a home sale. But it takes a team – you and your Realtor – to get things right.
INGREDIENT 1: Location
The first ingredient in your home sale is a constant: location. The dirt your home sits on hasn’t changed since you purchased the place. But prices and trends obviously have.
The 2017 spring real estate market held few surprises: high demand, low inventory, and rising prices. This trend doesn’t show signs of easing. Here are a few tips for buyers and sellers in this unique market.
Lack of Homes
Lake Chelan Home Inventory Continues to Fall
Inventory of available homes in Lake Chelan continues to fall. Sellers who have considered listing their homes should take advantage of this historic opportunity.
Lake Chelan Home Inventory Very Low
Inventory of available homes in Lake Chelan the lowest it’s been in over three years. Definite seller’s market.
The 2016 real estate market in Lake Chelan blew the cover off the record books. Trend-topping numbers were recorded across the board. Will this pace of home sales continue? The demand coming from the Seattle area shows no sign of letting up. But will there be enough homes to meet this demand?
A LOOK BACK AT 2016
The 2016 market can be summarized in three acts: