Home Sales in Chelan WA 98816
November 2018 Market Report
My husband and I had a bet going with some friends this Fall about when the first snowfall (not flurries) would happen this year. My prediction was too close and my husband overshot the date by about a week. So we eat humble pie and now owe our friends a dinner out at the restaurant of their choice. Admittedly, Thanksgiving Evening was the perfect time for our first dusting, especially for someone like me who thinks of Thanksgiving as Day 1 of the holidays!
The real estate market in Chelan, WA had 21 homes sold this November. This is down slightly from 28 sales in October, but represents a 40% increase in sales over the same time period in 2017. .
With 6 pending sales,we’re definitely seeing a seasonal slowdown, but that doesn’t mean buyers aren’t still looking for that “right” property. With 79 properties currently on the market, and days on market accruing, buyers looking to make a purchase this Winter may be in a stronger negotiating position than if they wait until next Season. Time will tell!
So, without further ado…here are the stats for Chelan Home Sales in November 2018
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Chelan Homes Sales
The average days on market for unsold Chlean WA homes in November was 199 days The highest priced property is listed at $5,500,000 and the lowest priced listing is asking $239,900. In terms of median asking price, that is $599,000….this means half of the listings are priced over this and half are priced below this price.
The average sales price is just over $654,000 which was significantly higher than the $585,141 average price in October, and $3,000 better than the same time-frame last year.
The sales price to list price ratio (SP/LP) came in at 97.6% last month. Marginally higher than the YTD through November percentage which was 97.15% This number is helpful for home buyers, especially investors when consider offers and ROI
How can both buyers and sellers gain an advantage in the current Chelan Real Estate market? Work with a local Chelan Real Estate Broker with experience in all types of markets.
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Chelan and Manson Real Estate Market Review
Currently, the Chelan Single Family market is still favoring sellers, but heading towards a more neutral position with available inventory at approximately 4.5 months. Less than 6 months of inventory traditionally favors the Seller and more than 6 months is referred to as a Buyer’s market. Here is a recap of statistics for Single Family Homes in Chelan and Manson WA for the month of November 2018
• Average Sales Price: $845,991
• Median Sales Price: $599,000
• Number of Closed Sales: 21
• Number of Pending Sales: 6
• Average Days-On-Market, Sold Homes: 53
• Average Sales Price /List Price Ratio: 98.75%
• Highest Priced Sale: $1,370,000
• Lowest Priced Sale: $225,000
• Largest Home Sold: $1,370,000
•Smallest Home Sold: 925 sq ft
• Highest Priced Active Listing: $5,500,000
• Lowest Priced Listing: $239,900
• Largest Home on the Market: 6448 sq ft
• Smallest Home on the Market: 363 sq ft
If you’re considering buying or selling in the Chelan area, this is a great time to begin planning and talking about next steps. Contact us today to see if we can help you!
You can view all listings currently availabe in the Lake Chelan market right here.