2008 to 2009 Lake Chelan Waterfront Land and Home Sales Analysis

I spent some time on spreadsheets today looking at waterfront home sales. If you are a buyer of waterfront property at Lake Chelan, you could make it easier to tell what is going on. Buy MORE waterfront property and buy things similar to what was bought last year

The low number of sales and variety of properties on Lake Chelan make any sort of comparable analysis difficult. Not only can't I find a statistically significant number of similar properties to compare, I can't find a single sale of very similar homes or land from 2008 to 2009. Going back any further really doesn't make any sense in this market. There are some properties for sale that are similar to properties that sold last year. But, unless someone buys them, they won't help us compare sales. If you're a buyer, I can direct you to those properties if you want, or to the waterfront property you actually like!

Accurate valuation is pretty much not mathematically possible with the limited amount of current data that is available in this report. It would be required to go back further in history to come up with enough comparables for most properties, or the properties used might not be what you and I would call very similar. Having said that, by breaking things down further and estimating a value for homes versus land, making corrections for age, for floorplans and other adjustments might provide a bit more consistency and you might be able to compare 3 or more properties to the property in question. I am pleased to leave that dance for your appraisor or the assessor's office.

These sales are water frontage, on Lake Chelan only, excluding things like Harris Marina boat slips and things that are not typical residential properties.

If you are a waterfront property owner, you might like to look at the Lake Chelan Waterfront sales analysis and see how the value of your property might compare by the latest, if imprecise, market data. The statistical summaries don't have enough samples to be signficant, so just consider them fun numbers and draw your own conclusions. Let me know if you have questions.