Thursday, June 09, 2005

Wenatchee real estate inventory out of balance?

Dear Readers,
Since I've been posting some statistical info on my other blog ( ), I've been wondering if our inventory of Wenatchee & East Wenatchee real estate is getting a little out of balance. I confined my analysis and did not include real estate from Cashmere, Rock Island, Malaga or other outlying areas.

Here's what our current inventory looks like:

Current Inventory:
Under $130,000 : 56 homes (29 closed in May) 52%
$130,001 - $200,000 : 77 homes 64 closed in May) 83%
$200,001 - $300,000 : 140 homes (19 closed in May) 13%
$300,000 - $400,000 : 25 homes ( 4 closed in May) 15%
$400,000 + : 22 homes ( 5 closed in May) 23%

Ummm... do you see a trend here? If you were building "spec" homes, which price range do you think would be best?

It is interesting to note that the homes in the under $130,000 are selling a smaller percentage of inventory than the over $130,000. Much of this is because the inventory in that price range includes mobile homes on leased land and lower end condos, which are selling but not at as swift a rate as higher priced homes. Homes over $100,000 and under $130,000, in a good location, are selling within days of listing (regardless of condition)... and closing within 30 - 45 days.

It's a good time of year to be selling, so it will be interesting to watch how the trends go. To do your own home searches, go to

Enjoy your evening,

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