Supply is low and the price remains high. The year-end Wenatchee area real estate snapshot saw a 7% increase in the median sales price for a residential single family home over a year ago.
According to Pacific Appraisal and Associates, the Wenatchee area market, which consists of Wenatchee, East Wenatchee, Malaga, Orondo and Rock Island, finished the year with the Median Sales Price at $290-thousand dollars, up 7% over 2016’s median price at $269,900-dollars.
Total sales for 2017 were down from 1121 in 2016 to 1041 in 2017, a 7% decrease and the number of new listings dropped from 1322 in 2016 to 1231 in 2017. The good news is the number of single family building permits up from 225 in 2016 to 242 in 2017.