methow valley real estate 2015 market report
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MARKETREPORTOverview Of the MethOw valley real estate Market | 2015
MethOw valley’s preMier real estate COMpany
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Methow valley real estate Market report 2015Quick FactsTotal Dollar Volume
Increased
AVERAGE SALE PRICE MEDIAN SALE PRICE
208Total Number of Transactions 2015
16%Increase from 2014 34%
80%increase in sales
over $600K
54%increase in sales
$200K-$400K15% 12%
14%Decrease in Inventory
www.windermeremethow.com | (509) 997-6562 | 313 east hwy 20, twisp, wa 98856
INTRODUCTIONOn behalf of our team of dedicated professionals at windermere real estate/Methow valley, we are pleased to present the 2015 market report for the Methow valley area.
MARKET OVERVIEW BY SEGMENTSingle Family, Condominium & Townhome Segmentnorthwest Multiple listing service reported $45,221,817 total sales during 2015, outgaining the prior year’s volume of $33,778,788 (2014) in total transactions for a 34% increase.
Measured by dollars, last year’s sales of single family homes and condominiums/townhouses were valued at more than $37 million. Compared to 2014, that dollar volume represents a gain of nearly 52%.
last year’s completed sales included 124 single family homes and 4 Condominiums/townhouses. the area-wide median price for last year’s sales of single family homes, condominiums, and townhouses was $250,000, improving on the previous year’s figure of $223,000 in 2014, (up nearly 12%).
the single family segment of the market remained healthy with notable gains when compared to this time last year. the number of transactions increased nearly 41%. the majority of single family home transactions were in the $200,000-$250,000 price range, an increase of 19%. the area with the most single family home transactions was Mazama. the average sale price for this area was $496,000.
the shortage of inventory varied greatly by area and price range, however, single family inventory decreased 14% compared to a year ago. Brokers scrambled to replenish inventory throughout 2015. the market appears to be positioned for continued growth throughout 2016.
www.windermeremethow.com | (509) 997-6562 | 313 east hwy 20, twisp, wa 98856
Vacant Land Segmentthe vacant land segment of the market shows a small gain. the Mls reported $7,655,300 closed sales during 2015 outgaining the prior year’s volume of $7,438,338 (2014) transactions for a 2.9% increase. total vacant land sales consisted of 79 transactions, consisting of 52 sales $0 - $99,000, 19 sales $100,000-$199,000 and 8 sales $200,000-$500,000. the average days on market was 320 days. the area with the most vacant land sales was Mazama. the average price for this area was $135,158.
sOlD l 55037 l list price: $939,000
* The statistics used in this report are from the Northwest Multiple Listing Service (MLS). *This report does not go into detail on every segment of the market, but is intended to offer an overview of the general market conditions. Statistics are cumulative. *All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
sales DistriBUtiOn By type sales DistriBUtiOn By priCe
2014 2015 20152014
Condo/townhome2%
residential 49%
vacant land 45%
Commercial4%
Condo/townhome2%
residential 60%
vacant land 38%
Commercial0%
Under $100k 36%$200k-$400k
27%
$100k-$200k 30%
$400k-$600k4%
Over $600k3%
$200k-$400k 36%
Under $100k 27%
$100k-$200k 26%
$400k-$600k7%
Over $600k4%
LUXURY MARKET SPOTLIGHTThe luxury segment of the market surged during this past year with an increase in the number of luxury transactions. Sales reported 9 transactions of single family homes priced at $600,000 or more, up 80% from the 2014 total of 5 luxury sales. Most notably was the increase in transactions over $600,000, which doubled when compared to this time last year. The highest-priced single family home that sold in 2015 was located in Mazama, sale price $865,000.
record home sale (2014): $2.6M
average sale price above $600k: $866,000
number of home sales above $600k: 48
LUXURY MARKET SPOTLIGHTThe luxury segment of the market surged during this past year with an increase in the number of luxury transactions. Sales reported 9 transactions of single family homes priced at $600,000 or more, up 80% from the 2014 total of 5 luxury sales. Most notably was the increase in transactions over $600,000, which doubled when compared to this time last year. The highest-priced single family home that sold in 2015 was located in Mazama, sale price $865,000.
record home sale (2014): $2.6M
average sale price above $600k: $866,000
number of home sales above $600k: 48
Thinking of Selling? Here’s the Reason to List Your Property with Windermere Real Estate / Methow Valley
Why Windermere Real Estate / Methow Valley? serviCe: knowledgeable in all markets; residential, commercial, investment properties, resort and recreation, ranches and conservation easements. eXperienCe: Over 175 years of collective local knowledge in the Methow valley. resUlts: wre has participated in the successful listing and/or sale of over 100 properties in the last three years, windermere real estate is Methow valley’s “top producers”. Market DOMinanCe: we have an extensive on-line advertising campaign and naturally rank in the top 5 for popularity. as windermere Real Estate, our clients benefit from the marketing strength of the Windermere brand which is the largest marketing network of any independent real estate brokerage.
What’s the Value of Your Property? Call us to discuss what your property is worth today.
VISIT OUR WEBSITE: www.windermereMethow.com
JUST SOLD...
313 e. hwy 20, Box 1088 twisp, wa 98856 phone: 509-997-6562 email: [email protected] www.windermereMethow.com
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PRSRT STDU.S. POSTAGE
PAIDTwisp, WA
PERMIT NO. 10
TO: Boxholder
RARE ACREAGE… FIRST TIME OFFERED FOR SALEWINTHROP/STUD HORSE MTN This acreage represents one of the last remaining opportunities to own large; pristine acreage inthe Methow Valley. Located just above Winthrop, this elevated 148 acre parcel offers breathtaking views of the CascadeRange and the surrounding Valley. Enjoy incredible sunsets, panoramic mountain views, abundant wildlife habitat,spring, aspen and pine groves create multiple home sites to choose from. Acreage borders Winthrop city limits, includesgood producing well. Buyers may also participate in conservation easements further protecting the land and possiblyproviding significant tax savings. The unique terrain of this property frames the views that encapsulate life in theMethow Valley. A truly amazing place to call home.OFFERED AT $1,400,000 MLS # 793861 CONTACT Delene Monetta (509) 421-3729
The Methow Valley’s Leading Real Estate Company
313 E. Hwy 20, Box 1088Twisp, WA 98856509.997.6562www.WindermereMethow.comemail: [email protected]
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