WENATCHEE — The Wenatchee Valley housing market is a difficult environment for potential buyers: home listings are down and prices are up.
Data collected by Pacific Appraisal Associates shows active home listings in the Wenatchee area went down to 30 in June — a 17% drop from May and 74% decrease from June 2020.
As the number of listings decrease, the prices of homes are increasing. The year-to-date median sales price was $425,050, up by 21% from last year. Meanwhile, the year-to-date average sales price is up by 18% at $468,512.
Total sales are also up 3% compared to last year, totaling 95. Pending sales for June were at 153.
Rental vacancies are also hard to come by, with only a 1.1% vacancy rate during the second quarter of 2021. Last year’s second quarter rate was 3%. Single family homes have the largest vacancy rate at 3.7%, followed by multi-family rentals at 0.9%, plexes at 0.3% and condos at 0%.
Leavenworth and Cashmere
Leavenworth and Cashmere also have few listings, with 29 and 8 respectively.
Unlike Wenatchee, the two cities have seen positive leaps in total sales. Cashmere’s sales are up 64% from last year and Leavenworth’s are up by 40%.
Median Leavenworth home prices have increased 8% since last year at $712,729, while Cashmere’s median home price is at $552,000, a 32% increase.