WENATCHEE — A median house in the Wenatchee market sold for $349,900 in 2019, up 8% from 2018’s $325,000.
But market volume was nearly identical, with 1,035 closed sales last year compared to 1,036 in 2018, according to a housing Snapshot from Pacific Appraisal Associates released Friday. The report covers Wenatchee, East Wenatchee, Malaga, Rock Island and Orondo.
The area’s residential real estate for years has seen a steady increase in value. The 8% jump in 2019 was on par, or even a slight drop, in average year-over-year increases, said JoAnna Holland, a spokeswoman for the NCW Association of Realtors.
“If you look at just the month of December, we saw a decrease in price from 2018, but year-over year we saw an increase,” she said. “So it’s leveled out some.”
The year also saw slightly fewer total listings, 1,258, compared to the 1,267 in 2018, according to the report.
Area vacancy rates took a positive upward turn last year: 4% of single-family homes were vacant, up from 3% the year before. Multi-family units and the overall rate jumped from 2% to 4%, according to the report.
“We have gained a few rental units and we’re looking to gain more this year,” Holland said.
Cashmere and Leavenworth
The year brought a significant bump in Cashmere’s housing market and a more modest increase in Leavenworth, according to Pacific Appraisal Associates’ quarterly report for the upper valley.
Fifty-four homes were sold in the Cashmere area in 2019, a 20% gain from 2018, according to the report. The total number listed jumped 34% in that timeframe.
Median sales price there took a slight downturn, from $372,000 in 2018 to $352,500 last year, according to the report.
Leavenworth saw the reverse in 2019: lower volume and a 17% increase in median sales price.
The median home in Leavenworth sold for $499,000 in 2019, compared to $424,950 in 2018, according to the report.
Sales dropped 9% in the Leavenworth area, from 173 in 2018 to 157 last year.