NCW Housing Market 2023
By J Perrin Cornell, Broker, ABR, VAMRES
(Coldwell Banker Cascade Real Estate)
I live in Wenatchee and by NCW I mean the NCW Housing Market 2023, around Wenatchee and a 50 mile radius.As we know, 2023 was a difficult year. Rates dampened sellers interest to sell. Buyers frustrated with cost, rates and low inventory. In fact I read someplace that the average agent in the US had 2 or fewer transactions in 2023. Bringing it home we had roughly 430 agents in our Assn. The one in the exact middle had about 3.8 transactions.BUT the year wasn't all glum. Rates today are 1.5-2% lower than last Sept. My particular market (from Spark on NWMLS) shows that at 12/31/2023 average prices were up from same date 2022. (less than $10,000 but still up) . We were turning inventory in about 90 days including loan ( NAR says 180 days is a buyers market).But regardless of the market he...
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