If you’re thinking about buying a home in the Cashmere area, get ready for some sticker shock. A monthly snapshot of real estate in the Cashmere, Dryden and Monitor shows a 58 percent increase in home prices.
In the past year the median price of a home in that area rose from 189,500 dollars to 299,350 dollars. Industry officials attribute the spike to a shortage of homes being placed up for sale. Its reported by Pacific Appraisal and Associates that active listings dropped from an average of peak of 40 homes down to just 8.
Active listings fell to just eight homes, down from a peak of about 40 during the average spring — typically a prime home-selling season.
Both the Wenatchee and Leavenworth areas also report fewer homes being listed in March. Wenatchee median price increased 8 percent to 270,000 dollars. The median price for a home in Leavenworth jumped to 355.000 dollars, a 7 percent increase in value over last year.