We’re past the bottom of the real estate slump at Lake Chelan. The bottom was just about one year ago! The last two quarters of 2008 and the first two quarters of 2009 were pretty dismal, making the mid point of all that last New Years! Check out the Lake Chelan Real Estate Residential Sales Summary for 2009!
But, the 3rd and 4th quarters have been a big improvement. December was 3 to 8 times December 2008, by transaction volume and dollar volume. Waterfront home sales in 2009 were double that of 2008, but the average price fell from over $1.6 million per sale to $995 thousand per sale! Wow, that may lower some assessed values.
Inventory is still good, prices are still low and interest rates may be the lowest we’ll see in our life times! If you have income and plan on staying put awhile, this may be your golden Lake Chelan market opportunity. If you have a Lake Chelan home to sell, it can get sold relatively quickly. I’m calling this a time to wake up and get whatever real estate business you have to do done.
