Wenatchee Homes Sales Down, Median Price Still $500,000
The monthly snapshot of sales in the Wenatchee real estate market shows the median price for a home is $500,000, which is a 14 increase over a year ago.
Meanwhile, total sales are down by about half (53%) from a year-ago.
Active listings for homes are down from the previous month (26%), but have more than doubled (up 133%) from a year ago.
The statistics are for the month of December.
Although real estate sales have softened from 2021 both locally and nationally, home sellers are still getting close to their asking price.
In 2021, homes in the Wenatchee area sold above asking price on average (101%). For 2022, home sellers received 98% of the asking price for the year, and 96% in the past six months.
The rental vacancy rate jumped from 1.7% in 2021 to 2.3% in 2022, which still reflects a tight rental market.
Condos saw the biggest rise in vacancy, moving from 0% in 2021 to 6.7% in 2022. Single Family Home vacancies rose from 2.1% to 5.1%, while vacancies for Multi-Family home climbed from 1.2% to 2.3%.
The numbers from Pacific Appraisal Associates are for single family homes for the areas of Wenatchee, East Wenatchee, Malaga, Orondo and Rock Island.