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Find out the market trends from the past year
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While you may have been happy to close the door on 2020, we've been busy reviewing the stats so that we can advise our clients wisely in 2021. 2020 was a challenging year for many, and the impact of COVID can definitely be seen on the market. However, despite the challenges there was a great deal of growth in the market here in the Wenatchee Valley. Right now with low interest rates, demand is high and inventory is low - making it a sweet time to sell. Read on for a review of the stats from the previous year!
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Rising Prices
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The median sales price has jumped up over the past year, as well as the average sale price. However, buyers are not feeling this increase as sharply due to lower interest rates.
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Active Winter Months
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While spring was much slower than usual due to COVID, winter has been far more active - sales were up 29% from last December. Despite a slow spring sales are up for the year as well.
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As you can see above, the market has not slowed as much as it usually does during the winter months. Number of sales is up, as well as the median home price. However, as you can see below the number of homes on the market has taken a sharp decline. Despite the scarcity of homes, demand hasn't declined at all - if anything, it's increased. That means that homes are selling fast, at a great price, even in the winter. Now is a great time to sell!
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Want to take advantage of hot market trends and a great season to sell? Looking to find a home in this competitive market?
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Linda Bondo | Managing Broker
Premier One Properties
925 Fifth St
Wenatchee, WA 98801
Monday - Friday 8am - 4pm
Phone: 509-860-2398
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