Luxury home sales surge 120% in Chelan-Douglas counties, defying national trends

Brian Fair
Pioneer Title Company

Yaneli Perez
Pioneer Title Company

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The Chelan-Douglas County real estate market is showing remarkable strength, particularly in luxury home sales. This local trend stands in stark contrast to national figures.

According to the National Association of Realtors, June's single-family home sales declined 5.4% from May and 4.1% compared to June 2023 nationwide. However, our local market saw a 7.7% month-over-month increase and a 2.2% year-over-year rise in June.

For the year-to-date in June, Chelan-Douglas home sales are up 10.8% over last year, with financed purchases increasing by 14.5%. The luxury market has seen exceptional growth. There have been 73 homes sold for over $1,000,000 in 2024, compared to 33 homes at this time in 2023 - a 120% increase. Nationally, year-to-date home sales over $1,000,000 are up only 3.6%.

Here's a breakdown of sales by area for the first six months of 2024:

• In Greater Wenatchee, 71% of homes sold were priced between $250,000 and $750,000, with 6.5% selling for over $1,000,000.
• The Lake Chelan area saw 53% of homes sold in the $250,000 to $750,000 range, while a significant 33.3% sold for over $1,000,000.
• In the Upper Valley, 49.3% of homes sold were between $250,000 and $750,000, with 29.3% exceeding the $1,000,000 mark.

The luxury market has been particularly strong in cash purchases. Of the homes sold over $1,000,000, 29 were purchased for cash, with 5 of these cash sales priced at over $3,000,000.

These figures indicate a robust local real estate market, especially in the high-end sector. While national trends are important to consider, our local market continues to show significant strength and appeal to buyers across various price ranges.