July Sales Figures for the Wenatchee Market

Posted on August 20th, 2008 by Al_Lorenz

Once again Pacific Appraisals has sent out their Snapshot report for July. You can get it right here. 72 homes were sold in the Wenatchee market in July, down by 25 from 97 last year for a decrease of 26%.

Mostly Wenatchee has been immune from decreases in the median sale price, but for July, the number in the market area declined 4% and in Wenatchee, the decline is only 3%. Average Sale Price year to date is still up by 2% in both market areas. While the area is feeling the impact of the overall market and credit meltdown, homes are still being bought and sold successfully.

Mortgage rates are still relatively low historically and it will be interesting to see if rising rates end up eating up any further price reductions that may occur in the next year or so. Only history will tell us exactly when the best time to buy was in any given era!

Real Estate Excise tax collections are down by 38% in Chelan county so far this year. I’m sure we’ll all be hearing about tax issues this election year. Thanks again to our friends at Pacific Appraisals for putting out this report!