Real estate platform
compiled major statistics for the Wenatchee, WA metro area real estate market for the four weeks ended March 6, 2022.
Wenatchee weekly real estate update
Updated
The changes to the housing market are moving at a neck-breaking pace. To help you stay current on the market, ZeroDown compiled a weekly real estate market report in Wenatchee using data from Redfin. Statistics are as of the four weeks ending March 6, 2022. Metros with more than 50 homes sold during this time period were considered for metro-level rankings for each statistic.
Real estate is making headlines again this week, and for good reason. The housing market broke another all-time record in January 2022, with 70% of the homes on the market that month ending in a bidding war between buyers, according to data released Feb. 23. That rate was up by nine percentage points compared to the same time last year.
The milestone is good news for sellers—but another hurdle for potential homebuyers.
Sellers are able to capitalize on the lack of inventory and extremely high demand to command higher prices for their homes. Bidding wars also likely contributed to the recent jump in the average purchase loan size for conventional loans, which set a new record of $453,000 in late February.
Bidding wars represent yet another hurdle for potential homebuyers, on the other hand, who have already faced not only record-high home prices but record-low levels of housing inventory—and the looming threat of increased interest rates over the last several months.
All this spell a potentially rough several months ahead for homebuyers looking for a deal—or any buyer who’s looking for a property to purchase.
Arina P Habich // Shutterstock
Median sales price
Updated
Wenatchee, WA metro area:
– Median sales price: $597,625
– One-year change: +47.1%
Metros with highest median sales price
#1. San Francisco, CA metro area: $1.4 million
#2. San Jose, CA metro area: $1.4 million
#3. Santa Cruz, CA metro area: $1.1 million
Metros with lowest median sales price
#1. Cumberland, MD metro area: $119,208
#2. Bay City, MI metro area: $119,612
#3. Saginaw, MI metro area: $132,788
Stacker
Median sales price per square foot
Updated
Wenatchee, WA metro area:
– Median sales price per square foot: $268
– One-year change: +15.2%
Metros with highest median sales price per square foot
#1. San Francisco, CA metro area: $1,101
#2. San Jose, CA metro area: $923
#3. Kahului, HI metro area: $835
Metros with lowest median sales price per square foot
#1. Cumberland, MD metro area: $81
#2. St. Joseph, MO metro area: $90
#3. Anniston, AL metro area: $92
Volodymyr Kyrylyuk // Shutterstock
Sales to list price ratio
Updated
Wenatchee, WA metro area:
– Average sales to list price ratio: 1.01
– One-year change: +0.01
Metros with highest sales to list price ratio
#1. San Jose, CA metro area: 1.14
#2. San Francisco, CA metro area: 1.12
#3. Oakland, CA metro area: 1.12
Metros with lowest sales to list price ratio
#1. Cumberland, MD metro area: 0.95
#2. Jonesboro, AR metro area: 0.95
#3. Watertown, NY metro area: 0.96
scarp577 // Shutterstock
Homes sold with price drops
Updated
Wenatchee, WA metro area:
– Homes sold with price drops: 18.9%
– One-year change: +4.3%
Metros with most homes sold with price drops
#1. Grants Pass, OR metro area: 37.8%
#2. St. Joseph, MO metro area: 37.6%
#3. Watertown, NY metro area: 37.1%
Metros with least homes sold with price drop
#1. San Jose, CA metro area: 4.2%
#2. Seattle, WA metro area: 4.5%
#3. Hinesville, GA metro area: 5.4%
ungvar // Shutterstock
Off market in two weeks
Updated
Wenatchee, WA metro area:
– Off market in two weeks: 77.2%
– One-year change: -4.9%
Metros with the most homes off market in two weeks
#1. Seattle, WA metro area: 92.3%
#2. Olympia, WA metro area: 89.7%
#3. Denver, CO metro area: 87.8%
Metros with the least homes off market in two weeks
#1. Myrtle Beach, SC metro area: 1.4%
#2. Oshkosh, WI metro area: 4.4%
#3. Appleton, WI metro area: 4.6%
4 PM production // Shutterstock
Months of supply
Updated
Wenatchee, WA metro area:
– Months of supply: 6.8 months
– One-year change: +0.7 months
Metros with the most months of supply
#1. Atlantic City, NJ metro area: 19.4 months
#2. New York, NY metro area: 17.8 months
#3. Kankakee, IL metro area: 15.7 months
Metros with least months of supply
#1. Lewiston, ME metro area: 1.9 months
#2. Denver, CO metro area: 3.0 months
#3. Olympia, WA metro area: 3.1 months
This story originally appeared on ZeroDown and was produced and distributed in partnership with Stacker Studio.
FOTOGRIN // Shutterstock
Median sales price
Updated
Wenatchee, WA metro area:
– Median sales price: $451,750
– One-year change: +14.8%
Metros with highest median sales price
#1. San Francisco, CA metro area: $1.6 million
#2. San Jose, CA metro area: $1.5 million
#3. Santa Cruz, CA metro area: $1.3 million
Metros with lowest median sales price
#1. Springfield, OH metro area: $121,175
#2. Cumberland, MD metro area: $122,625
#3. St. Joseph, MO metro area: $125,488
Konstantin L // Shutterstock
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