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The Wenatchee real estate market has more homes listed in the $701,000 and higher price category than any other category, according to the October numbers.

WENATCHEE — Nearly one in every six of the 596 homes sold in the Wenatchee real estate market in the past six months closed for more than $701,000.

Of those 91 sales, about one in five were in the $1 million to $1.5 million range.

If the active and pending sales list for the Wenatchee-area real estate market is any indication, the record-setting high-end home sales trend will continue.

Pacific Appraisal Associate’s October SnapShot report shows:

  • 63 (27%) of the 232 listings considered active or pending are in the $701,000-plus price range, more than any other price category.
  • The $401,000 to $450,000 price range category has 41 active and pending sale listings.
  • The $351,000 to $400,000 range has 30 active and pending listings
  • The $451,000 to $500,000 range has 24 homes listed.

The Wenatchee market includes sales in Wenatchee, Malaga, East Wenatchee, Orondo and Rock Island.

A look back at the previous five years of home sale data provided in the Snapshot reports shows significantly more movement in the sale of high-end homes this year than in the past.

In October 2016, the market had 334 active listings and pendings, with 19 (6%) in the $701,000 and up range, compared to 67 listings in the $251,000 to $300,000 range and 54 in the $301,000 to $350,000 range.

That year, the active and pending list had 14 properties in the $150,000 range and 35 in the $151,000 to $200,000 range. The 2021 list has no listings in the less than $150,000 range and one in the $150,000 to $200,000 range.

Here is the six-month breakdown of the most expensive home sales provided in the Snapshot report:

  • $701,000-$750,000: 18 sales
  • $751,000-$800,000: 16 sales
  • $801,000-$850,000: 14 sales
  • $851,000-$900,000: 5 sales
  • $901,000-$950,000: 8 sales
  • $951,000-$1M: 6 sales
  • $1M-$1.5M: 17 sales
  • $1.5M-$3.2M: 7 sales

The high-end sales have helped push the year-to-date median sales price to $440,000 in October, up 19% from 2020’s $368,500 figure for the same time period, which was a 6% hike from 2019’s $348,250.

The report also shows an uptick in housing sale inventory from earlier this year, with active listings climbing from 35 in May to 96 in October. At the same time, houses are starting to stay on the market a little longer — an average of 58 days in October compared to 54 days in May.

The sales-price-to-list-price ratio, though, remains at 102%, compared to 99% in October 2020, so sellers continue to close sales above the listing price — on average.

Nevonne McDaniels: (509) 664-7151

mcdaniels@wenatcheeworld.com

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