Wednesday, February 25, 2015

Clark County WA Real Estate Market Update for January 2015

Clark County's January 2015 Real Estate Results Come in Strong!

With mild winter weather, and low interest rates for home loans, real estate in Clark County WA broke out early from the typical seasonal slowdown to post strong gains in the number of resale properties sold. Here are the high-points for this month:

  • Approximately 346 Resale Homes were sold in January, which is about 51 (17.3%) more homes than had sold in January 2014.
     
  • The Price Trend Lines show the 3-Month Moving Average with its typical Seasonal Dip, while the 12-Month Moving Average is showing a steady increase.
     
  • Average Home Sale-Prices Were Up strongly, with the 3-Month Moving Average up 9.68% over the prior year; and the 12-Month Moving Average went up 9.13% from the year prior.
     
  • Short Sale /Pre-Foreclosure property sales were 23 units (6.65% of total); vs 40 in January 2014.

  • REO/Bank Owned property sales were 37 units (10.69% of total);  vs 54 in January 2014. 
     

Next up in our Clark County Report will be our Custom Real Estate Market Analysis Charts!  The first chart displays the Number of Resale Homes Sold (Excluding New Construction).  We are using the simple technique of statistical smoothing to show a short term trend line illustrating the 3-month Moving Average; and the longer term trend line representing the 12-month Moving Average. 

Clark County Washington Home Sales January 2015 - Units Sold Clark County WA Resale Home Sales - Units Sold Trend January 2015

Even though we are in the typical slower season of the year, the number of properties sold is much higher than at the same time last year.  We will be on alert to see if this trend continues. 

Next in line is the display for the action on Home Prices in for January 2015.

Clark County WA Home Sales January 2015 - Average Sales Price Trends Clark County WA Resale Home Sales - Average Sales Price Trend

For this major component of the overall Clark County real estate market, Resale Home Inventory is at 2.2 Months, indicating an extreme "Seller's Market! (A more "Normal" Inventory level is considered to by Six (6) Months of Supply)  Thus, there is still continued support for the current, if not increasing price-level for homes.   

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

Charts of Clark County WA Home Sales Trends in January 2015 Clark County Home Sales Inventory & Days on Market Trends


In our opinion it seems clear that the strength in the local real estate market is continuing into 2015; and will likey continue the same positive trends, at least in the near term
 


PS - Please visit the Home Search page for Clark County 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 Clark County Washington 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 Clark County 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 statistical reports, we endeavor to provide the best representation at the time the data was acquired.  The data and reports are deemed reliable but not guaranteed.

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