Real Estate Market Statistics for Clark County WA December 2011

Well Performing Home Sales in Vancouver WA and Clark County WA for December 2011

With 2011 coming to a close, Home Sales in Vancouver WA and Clark County beat out November 2011 numbers and 2010 total-year's results, with Closed Volume moving up to 382 units.  However, the 3-month rolling average sales price dropped to another low as very few higher-end homes saw sales action.  Pending Sales were off slightly as well - at 360 units (402 the month before).  With the 4th Quarter sales volume coming in stronger that last year, we clearly beat last years sales level by 136 units: 4,847 sold in 2011 vs. 4,711 sold in 2010.

The information charted below is based on home sales entered into the Vancouver MLS system (RMLS), and exclude sales of mobile homes.

The Chart Below (prepared by John Slocum, our resident statistician) shows the purchase activity since 2009; charting the 3 month rolling average number of sales, and the 12 month rolling average.  This simple "smoothing" of the data better helps illiustrate the short-term and longer term trends in the Clark Conuty homes / real estate market.

Currently, the Affordability Index for real estate and Homes in Vancouver WA is at a major high for this generation; and with continued low interest rates and lower price levels, this index has improved even more!  Thus, our outlook for home buyers is Very Positive in 2012.

The next chart below shows the Average home sales price trends (3 month and 12 month) for the same time period.  As you can see, with the extended higher level of purchasing activity we are clearly seeing support for home sales prices, with the outlook as "Firming up."

Comparing the 3-month moving average for sales price; we have $208,197 for December 2011 vs. $228,461; a net decrease of $20,264 or -8.9%.  The increased level of Distressed properties on the market in 2011 were clearly a strong driver causing the lower prices; combined with the noticeably few luxury home sales (one luxury home sale can move the average up by several thousands of dollars in any particular month).

Finally, the Level of Available Resale Inventory is an important indicator of market health; and we show 5.5 months Clark County-wide; and 4.8 months for the sum of Vancouver zip codes -- a number that is substantially lower than last year.

Charts:  For the enthusiasts that like to examine charts, we have the sales results for the Resold Inventory (excludes new homes) by Community that you may find helpful:

Clark County WA Home Sales Results and Charts
Battle Ground WA Home Sales Results and Charts
Camas WA Home Sales Results and Charts
La Center WA Home Sales Results and Charts
Ridgefield WA Home Sales Results and Charts
Vancouver WA Home Sales Results and Charts
Washougal WA Home Sales Results and Charts

Please let us know if you have any specific questions or comments!

Disclaimer: as with any real estate statistics, we do our best to provide the best representation at the time the data was acquired.  We deem the data and reports reliable but not guaranteed.

Home Deals in Vancouver WA | Short Sales vs Bank Owned Homes

Which is The Better Deal?  Vancouver WA Bank Owned Homes or Short Sales?

In Vancouver WA and Clark County Distressed Properties - Foreclosures (aka Bank Owned Homes) and Short Sales Homes;  are a weighty part of the available housing inventory. The Big Question arises at this time: for Home Buyers - what's the best Deal? - will Foreclosures or a Short Sales be the better home to buy; or, is it a regular Owner Occupied Home for sale?

In finding an answer, we took a sample of Vancouver and Clark County homes sold in 2011 to see if any trends emerge. For this sample the main components were: Year Built: 1990 to 2010; Size of Home: 1,800' to 2,200'; Lot Size: less than 1 acre; Sold: between May and October, 2011.

This home search found a total of 297 Closed Sales; 152 of the houses sold were non-distressed; 57 were Short Sales; and 88 were Bank Owned (already foreclosed by the bank). Since not all short sales homes listed actually close, seeing fewer total short sales closed vs Foreclosures is not surprising.

We were also concerned that there are a good number of homes being purchased at the Foreclosure Auction, Rehabbed, then Flipped (listed and sold) as a "normal" sale. So, we went back to the list of 152 "normal" sales from the original screen and found 22 homes that were either Flips (16) or, HUD Foreclosures (6) homes that should have been listed as Bank Owned Homes. Revised Totals now show: 130 Normal Sales (43.8%); 57 Short Sales (19.2%); 94 Bank Owned Homes (31.6%) and 16 Foreclosure-Flips (5.4%). Below is a simple chart prepared to compare key elements:

Our findings shown on this chart show Short Sales are sold on average $2 per square foot lower than Bank Owned Homes. However, the Average Days on Market (DOM) figure for bank owned homes is much lower. Thus, it makes sense that home buyers that can be patient will be in a better position to pursue purchasing a short sale home.

Are you currently in the market for a home in Clark County or Vancouver WA? Whether you want Short Sales, Bank Owned Homes (including Foreclosures and HUD Foreclosures) we are experienced Brokers with REMAX Vancouver WA and will be glad to provide the assistance you need!

Home Sales Report for Vancouver and Clark County WA Novermeber 2011

Home Sales for Vancouver WA & Clark County with Seasonal Slowing for November 2011

Cooler weather has arrived, and Home Sales for Vancouver WA and Clark County have also shown the typical seasonal slowing, with Closed Volume lowering to 338 units, and the 3-month rolling average sales price is now below the 12-month rolling average.  Pending Sales were again very strong - at 426 units.  With the strength of the Pending Sales, combined with a high level of home refinancing activity occurring (to be sure, the-now-sub-4% home loan rates are causing a Refi Boom!), we are clearly on track to beat last years sales levels.

Affordability Index for real estate and Homes in Vancouver WA is n0w at a 18+ year high (as we've recently reported)!  Thus, our near-term to medium-term outlook for home buyers is Very Positive.

The information we use below is based on home sales entered into the Vancouver MLS system (RMLS), excluding sales of mobile homes.

For the first 11 months of 2011 there are 4,447 closed sales; compared to 4,359 for the same period in 2010.  If this trend continues for the last month of 2011 (and it should), we are confident 2011 will post a higher sales volume compared to the total real estate sales in 2011.

This Chart Below (prepared by John Slocum of Vancouver WA REMAX, our resident statistician) shows the purchase activity since 2009; charting the 3 month rolling average number of sales, and the 12 month rolling average.  This simple "smoothing" of the data better helps illustrate the short-term and longer term trends in the Clark County homes / real estate market.

The next chart below shows the Average home sales price trends (3 month and 12 month) for the same time period.  As can be seen, the extended higher level of purchasing activity is clearly providing support for home sales prices, with the outlook as "Firming up."

Finally, the Level of Available Inventory is another important indicator of market health.  When we smooth the statistical "noise" of the "New" homes listing in the MLS, we find a more meaningful inventory estimate.  The result is our best approximation of a Resold Home Inventory calculation of 5.6 months Clark County-wide (4.9 months for the sum of Vancouver zip codes) -- a number that is substantially lower than last year, and another indication that home prices should remain firm with a similar level of demand.  In contrast, the RMLS is using a a number drawing from both the Resale and "New" home segments, and showing a total Inventory of 6.8 months.  Clearly, removing the New Homes provides a better picture of move-in ready homes on the market.

Charts:  For the enthusiasts that like to examine charts, we have the sales results for the Resold Inventory (excludes new homes) by Community that you may find helpful:

Clark County WA Home Sales Results and Charts
Battle Ground WA Home Sales Results and Charts
Camas WA Home Sales Results and Charts
La Center WA Home Sales Results and Charts
Ridgefield WA Home Sales Results and Charts
Vancouver WA Home Sales Results and Charts
Washougal WA Home Sales Results and Charts

Please let us know if you have any specific questions or comments!

Disclaimer: as with any real estate statistics, we do our best to provide the best representation at the time the data was acquired.  We deem the data and reports reliable but not guaranteed.

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