December 2023 Newsletter

The best news in real estate this month is that developers are optimistic, as housing starts jumped in November.

Microsoft Word – Nov Housing Starts (ftportfolios.com)

The seasonal winter slowdown has finally hit. Leading up to November the Chelan/Douglas SFH market has been averaging $80MM in sales per month for the last six months. Of note this month is a significant drop in financed sales, which represented only 56% of total sales.

Other than single family home sales:

  • 43 land transactions for $43MM
  • 4 commercial properties sold for 2.1MM
  • 6 condos sold for $2.6MM
  • 2 deals at Rimrock for $53,000
  • 17 PR deeds. Good biz month for estate attorneys

Next month we will have a full quarter and a full year of data to chew on, and I will do a deeper dive into price per square foot.

Merry Christmas. Stay safe.

Brian

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