I analyze sold properties in the Lake Chelan Residential Sales Report and in posts on details of Lake Chelan sold homes. But, lately the NAR nationally and the NWMLS have made claims of potential turnaround due to changes in pending sales. So, I took a look at pending sales here locally this morning.
There are 29 pending sales in the MLS today. That number dropped from in the forties most of the winter and was running in the thirties lately. The recent drop was in part caused by the sales of units at The Lake House which closed after completion of construction.
9 of the pending sales are time shares at Wapato Point, Lake Chelan Shores and other time share resorts. There are 7 pending sales (fractional share) still to close at The Lake House. The time share sales start at $2900 and the highest priced pending sale is for a waterfront lot on Dry Lake Road for $324,900. The median price of all the pending sales is $119,900.
I expect the pending sale number to drop a bit further as more of the homes close at The Lake House. I’m not seeing anything in the local pending sales numbers or details to foretell a big upswing locally.
