methow valley real estate 2015 omak market report
DESCRIPTION
Windermere Real Estate is the Methow Valley and Okanogan County's premier real estate company. From Mazama to Twisp, Winthrop to Methow, Omak to Okanogan, our agents can show you real estate, homes for sale, business opportunities and acreage throughout the entire Methow Valley and Okanogan County. The Methow Valley is well-known for its outdoor recreation opportunities, including cross-country skiing, mountain biking, fishing and camping, birdwatching and more. Find your own personal version of the Methow experience with our first class team of top sales associates. We'll insure that you get the best possible real estate experience.TRANSCRIPT
MARKETREPORTOverview Of the OKANOGAN vAlley reAl estAte MArKet | 2015
OKANOGAN vAlley’s preMier reAl estAte COMpANy
R E A L E S TAT EOmak-Okanogan
Okanogan valley real estate Market report 2015Quick FactsTotal Dollar Volume
Increased
AVERAGE SALE PRICE MEDIAN SALE PRICE
344Total Number of Transactions 2015
9%Increase from 2014 3%
66%decrease in sales
over $400K
34%increase in sales
$100K-$200K4% 3%
14%Decrease in Inventory
www.windermereomak.com | (509) 826-5906 | 540 riverside Ave., Omak, wA 98841
INTRODUCTIONOn behalf of our team of dedicated professionals at windermere real estate/Omak-Okanogan, we are pleased to present the 2015 market report for the Okanogan valley area.
MARKET OVERVIEW BY SEGMENTSingle Family Home SegmentNorthwest Multiple listing service reported $39,420,635 total sales during 2015, outgaining the prior year’s volume of $38,125,368 (2014) in total transactions for a 3% increase.
Measured by dollars, last year’s sales of single family homes were valued at more than $33 million. Compared to 2014, that dollar volume represents a gain of over 10%.
last year’s completed sales included 234 single family homes. the area-wide median price for last year’s sales of single family homes was $131,000, improving on the previous year’s figure of $127,100 in 2014, (up 3%).
the single family segment of the market remained healthy with notable gains when compared to this time last year. the number of transactions increased over 14%. the majority of single family home transactions were in the $140,000-$160,000 price range, a 61% increase. the area with the most single family home transactions was Omak. the average sale price for this area was $156,928.
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.windermereomak.com | (509) 826-5906 | 540 riverside Ave., Omak, wA 98841
Vacant Land SegmentThe vacant land segment of the market shows a decrease in sales. The MLS reported $4,345,724 closed sales during 2015 decreasing from the prior year’s volume of $5,458,075 (2014) transactions for a 20% decrease. Total vacant land sales consisted of 96 transactions, consisting of 68 sales $0 - $50,000, 22 sales $50,000-$100,000 and 6 sales $100,000-$200,000. the average days on market was 284 days. the area with the most vacant land sales was Aeneas Valley. The average price for this area was $27,100.
SOLD l 677797 l List Price: $445,000
* 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
farm & ranch1%
vacant land 32% residential
64%
Multi-family1%
farm & ranch0%
residential 68%vacant land
28%
Commercial2%
Under $100K 53%
$200K-$400K 15%
$100K-$200K 30%
Over $600K1%
$400K-$600K2%
$200K-$400K 14%
Under $100K 49%$100K-$200K
36%
$400K-$600K1%
LUXURY MARKET SPOTLIGHTThe luxury segment of the market decreased during this past year. Sales reported 2 transactions of single family homes priced at $400,000 or more, down 66% from the 2014 total of 6 luxury sales. Omak’s highest-priced single family home that sold in 2015 was $410,000.
Record Home Sale (2006): $1.7M
Average Sale Price Above $400K: $539,578
Number of Home Sales Above $400K: 58
Multi-family1% Commercial
3%
LUXURY MARKET SPOTLIGHTThe luxury segment of the market decreased during this past year. Sales reported 2 transactions of single family homes priced at $400,000 or more, down 66% from the 2014 total of 6 luxury sales. Omak’s highest-priced single family home that sold in 2015 was $410,000.
Record Home Sale (2006): $1.7M
Average Sale Price Above $400K: $539,578
Number of Home Sales Above $400K: 58
Thinking of Selling? Here’s the Reason to List Your Property with Windermere Real Estate / Omak-Okanogan
Why Windermere Real Estate / Omak-Okanogan? 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 Okanogan 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 Okanogan Country’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.windermereOmak.com
JUST SOLD...
540 Riverside Ave., Box 3817 Omak, wA 98841 Phone: 509-826-5906 email: [email protected] www.windermereOmak.com
SATISFACTIO
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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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