Market Update - 4.21.22

The Lake Chelan real estate market is beginning to wake up for the season.  Inventory remains historically low and demand high for all residential properties in the Lake Chelan valley.  

Pending sales in March indicate the market will be strong and very active.  

Anecdotally, agents suggest this could be a year of plateauing prices.  The war in Ukraine is giving some buyers pause before making an above-market offer.  

Above-market offers drove prices sharply upwards since the beginning of COVID.  The median residential home price in the Lake Chelan market skyrocketed nearly $300,000 since January of 2020.  

Follow the graphs below to see this narrative visually.

GRAPHS

HOMES FOR SALE: Market begins 2022 season with a few more homes than in 2021, but inventory is still historically low as the 10 year graph shows below. 

PENDING SALES: The Lake Chelan market is just beginning to wake up and is on par with March activity of recent years.

MEDIAN SALES PRICE: Median residential home prices skyrocketed nearly $300,000 during COVID.