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    Wenatchee Valley September 2020 Real Estate Market Update

    Will the recent forest fires 🔥 and smoke stop…

     

    …the hot real estate market?

    Watch this video to find out click here

    Wenatchee Area Real Estate Market Update for September 2020.

    We’ve seen an increase in sales of 27%.

    Compare that to when COVID hit, we saw a decrease in sales of 33%…

    …shows us how much demand there is in our marketplace.

    Demand is coming from out of town buyers.

    We’re seeing people from the Seattle urban market and California

    We havesold more homes, 4% more homes, than we did 2019 will it continue?
    Active listings are way down. Active listings are down 48% from last year. We have 73 active listings.

    9% increase in value over the last year.
    We’re seeing a lot of people move to Idaho and Montana from our area.

    It is really, really interesting.
    What I want to leave you guys with is a couple of things.

    #1 – Demand will increase only if employers in Urban areas allow remote work.

    They’re going to sell their home in Seattle $1.5 million and come over here with cash.

    Now, if that doesn’t happen and…

    employers like Microsoft say… “We want people back in the office,”

    Prices are going to decrease.

    #2 – Interest rates.

    If interest rates stay at 2.5 or go lower after the election, we’re going to see prices go up.

    If interest rates increase after the election prices will drop.
    Reach out with any real estate related quetions.

    Nick McLean – 509-255-8070 – nick@nickmclean.com

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