Home prices in the Wenatchee Valley continue relentless upward march

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Get ready to pay even more for a new home in the Wenatchee Valley.

In the latest Pacific Appraisal Associates real estate snapshot, the median sales price for a house in the Wenatchee and East Wenatchee market in June was just over $425,000.

That’s up a whopping 21-percent compared to June of 2020 when the price was $350,400.

It’s also up significantly from just a month earlier when the median May home price was $420,000.

The market remains extremely tight, with active home listings way down compared to last year with 36 listed last month compared to 115 a year ago, a 74 percent drop.

The bright spot in the report was that total home sales in the area went up slightly compared to last year with 95 sold last month and 92 in 2020.

Homes in the Wenatchee Valley continue to sell for 102 percent of the listing price, indicating heavy competition among buyers.

But high as they are, homes in Wenatchee and East Wenatchee aren’t nearly as costly as in Cashmere and Leavenworth.

Pacific Appraisal Associates says the medial price for a new home in Cashmere is $525,000, up 28 percent from a year ago.

In Leavenworth, the median price is $630,000, up from $569,500 in 2020.