103 Stormy Mountain Way, one of a dwindling few vacant parcels to be had in Division 2 of Chelan Hills, has closed Escrow at a sales price of $160,000.
Originally offered at $139,500, this property gathered a flurry of interest (not surprising given these pandemic market conditions and low inventory) within just a few hours of hitting the market.
The seller, who had no plans of ever building, purchased this lot almost twenty years ago and held onto it as an investment. Recognizing the strong seller’s market we’re currently in, we put together a pricing strategy which allowed them to liquidate with multiple offers at a sales price nearly 15% over ask.
Of course, the buyer wins as well. Chelan Hills has (in my opinion) the best amenities package of any community in town; two waterfront parks, two pools, day use dock, boat launch, tennis courts and buoys.
As they say, “they’re not making any more land” values should hold over the long term, and will likely continue to increase as inventory remains low.