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Carol Williams Wenatchee Real Estate

Washington State Apple Blossom Festival 2008

Wenatchee Apple Blossom FestivalIt's that time of year again... the Washington State Apple Blossom Festival !

Plans for this years event have been in the works since the day after last years event ended! This picture is of one of last years floats, and we can hardly wait to see what is in store for us this year.

Tonight, on my other Wenatchee real estate blog, I posted some information about the upcoming Festival and other events that have been taking place building up to the annual festival of events.

It's an exciting time of year in Wenatchee. Let's just hope the (unseasonably cold) weather warms up a little so we can enjoy the activities without our down jackets on!

E N J O Y !
Carol Williams

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What Does Median Money Buy In YOUR Market?

Three Lakes Golf CourseI was looking at the latest housing statistics for our Wenatchee real estate market the other day and got to wondering what "median money" bought in other markets across the country. Our median price as of this month is $248,500 (up from $224,000 last year at this time)

Here is a link to a few "median money" houses in the Wenatchee, Washington market area. This link will be active for 30 days. I am curious about two things:
What is the median price in your market? AND
What kind of a house does "median money" buy in your market?

I prefer to discuss "median" (instead of average) because that means an equal number of houses are sold for a higher price and a lower price. "Average", in comparison, averages all the sales by totalling the dollar volume and dividing by the number of sales. To me this average number can be distored by an inordinate amount of high end (or low end) homes. Our "average" price right now is $287,411.

For those of you who want to participate, please comment with:
* A link to some "median" priced homes in your market AND
* A link to what "$248,000 will buy in your market. I think it's fun to compare markets across the country.

Thanks and have a great day!
Carol Williams

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And The Oscar Goes To...

 Well, it's not exactly an OSCAR, but it's a pretty big deal.

Wenatchee has been placed #1 on the Office of Federal Housing Oversight's Housing Price Index for the fourth consecutive quarter.

In spite of a national downturn, Wenatchee remains stong!

More commentary and a link to the complete article can be found on my primary Carol's Wenatchee blog.

Wenatchee: Home Sales Up

 I have continued to tout a healthy level of sales activity for Wenatchee real estate, in spite of significant negative publicity nationwide. An article in today's Wenatchee World newspaper confirms my impression.

Defying a state and national trend, homes sales in the last quarter of 2007 were up in the Wenatchee area and a six county area including: Chelan, Douglas, Columbia, Walla Walla, Whatcom, and Adams counties.

Here is a link to a complete article published in the Wenatchee World today, with details of recent home sale activity statewide.

Our strong and diverse economy should continue to sustain healthy real estate activity locally.

Wenatchee, WA: 2007 Brief Market Summary

 2007 was a very good year for real estate in the Wenatchee area. In spite of a national downturn, our home sales remained active... with some slowing in sales activity creating a much needed pricing stabilization. The slowdown was actually a welcome reprieve from the frenzy of the last couple years. When you've seen appreciation like we have (#1 in the nation 3 quarters in a row), a slowdown is exactly what was needed to put a reality check on escalating prices.

Increasing interest rates (which are now going down again) and the tightening mortgage atmosphere were the two main factors contributing to our market stabilization. From my perspective this was a needed stabilization to put some sanity back into our pricing structure.

In my humble opinion, Wenatchee will NOT see a real estate downturn. There is too much demand!



Our economy is driven by a strong and diverse economy with low unemployment and several major industries, with good paying jobs:
* Public owned hydro-electric power production ( attracting new businesses and industry)
* Agriculture (we're still the apple capital of the world)
* Aluminum production (hundreds of good paying jobs)
* Large medical service base (serving all of central and north central Washington)
* Local, state and federal agencies (good paying jobs)
* Tourism (300 days of sunshine per year attracts a lot of people and events)

Overall, the 2007 dollar volume for home sales (through the MLS) was up about 7%, while actual unit volume was down about 15%. This, of course, is a result of newer (higher priced) homes bringing up the dollar value average, even though total unit sales were down.

Inventory of homes for sale in every price range has increased, creating some good opportunities for buyers with good credit, and adequate down payments, to negotiate a sale that can close quickly and smoothly.

The only price range with an alarming amount of inventory compared to sales activity is the $500,000+ price range. Statistics show there to be a 32 month supply in the $500,000 - $550 price category and a 19 month supply in the $600,000+ price category. Homes under $300,000 seem to be selling in 150 days or less.

The average sales price in December 2007 was up to $287,719 (20% higher than in December of 2006)
The median sales price in December 2007 was up to $249,900 ( 15% higher than in December of 2006)

Have questions about Wenatchee real estate?
For personalized, customized, service contact the TOP Team:
Carol Williams TopTeamCarol@gmail.com
Shelley Granger TopTeamShelley@gmail.com

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Remember:
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