Wednesday, January 21, 2015

2014 Real Estate Market Shows Gains for Vancouver WA

Real Estate in Vancouver WA for 2014 Came Through With Strong Results!

The Year 2014 Closed out even stronger than the Year before, with Less of a seasonal slowdown in the 4th Quarter. Here are this year's highlights:

  • Approximately 3,989 Resale Homes were sold in 2014, which is about 158 (4.12%) more homes than had sold in 2013.
  • The Price Trend Lines show the 3-Month Moving Average with its typical Seasonal Peak in July at $256k, and the 12-Month Moving Average peaking at the end of the year.
  • Average Home Sale-Prices Were Up strongly, with the 3-Month Moving Average up 13.65% over the prior year; and the 12-Month Moving Average went up 10.34% from the year prior.
  • Short Sale /Pre-Foreclosure property sales were 303 units (7.6% of total); also trending downward.
  • REO/Bank Owned property sales were 426 units (10.7% of total); and trending downward through the year. 

The video below, John Slocuum, Realtor® talks about the 2014 Vancouver real estate market's highlights:

Vancouver WA Real Estate Video Report Annual 2014

Now for our Real Estate Market Analysis Charts!  The first chart displays the quantity of Resale Homes Sold (Excludes New Construction).  We are using the simple technique of statistical smoothing to show a short term trend line equaling the 3-month Moving Average; and the longer term trend line equaling the 12-month Moving Average. 

Vancouver Washington Home Sales March 2014 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend Annual 2014

With Vancouver clearly the largest reporting area in Vancouver WA, the Clark County overall trend line will look quite a bit like this one. 

Next up is the display for the action on Home Prices in 2014.

Vancouver WA Home Sales Annual 2014 - Average Sales Price Trends Vancouver WA Resale Home Sales - Average Sales Price Trend

THE BIG reason for Vancouver's increase in average sales price is the relatively very low inventory (home supply) condition we've seen through the year, ending at less than 3 months supply for Resale Homes!   

The final chats below show the month-by-month action for Unit Sales, Average & Median Prices; and Days on Market:

Charts of Vancouver WA Home Sales Trends in Annual 2014 Vancouver Home Sales Inventory & Days on Market Trends

In our opinion it appears that 2015 should continue the same positive trends, at least in the near term

PS - Please visit the Home Search page for Vancouver WA on our website, where it is Easy to search by Neighborhood or by Category, with property and real estate listings from the entire RMLS.  Sign-up Not Required!

PPS -2015 will be a big year for the Vancouver real estate market.  Don't delay with your Home Selling or Buying Plans - Call Us Soon!

The charts in this report (prepared by John Slocum Realtor®, our resident statistician) are based on home sales posted in the Vancouver MLS system (RMLS), excluding sales of mobile home; and shows the purchase activity since 2009; charting the 3 month Moving average number of sales, and the 12 month Moving average.  This "smoothing" of the trend-data helps illustrate the short-term and longer term trends in Vancouver WA's real estate market.

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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