Wednesday, April 8, 2015

Real Estate Market Report for Vancouver WA March 2015

Real Estate Results in Vancouver WA for March 2015 In Like a Lion!

Each month in early 2015 has been turning in results better than the prior year for real estate sales in Vancouver Washington. Here are this month's highlights:

  • Approximately 366 Resale Homes were sold in March 201, which is about 85 (30.2%) more homes than had sold in March 2014.
  • The Price Trend Lines are both still strong, with the 3-Month Moving Average up 9.24% at $247,896; and the 12-Month Moving Average similarly up 9.86% at $247,577.
  • Short Sale /Pre-Foreclosure property sales were 18 units (4.9% of total); also trending downward when compared to 39 (13.9% of total) in March of 2014.

  • REO/Bank Owned property sales were 43 units (11.6% of total); and slightly trending downward when compared to 39 (13.9% of total) in March of 2014.
  • Inventory for Resale Homes at the end of March was at 1.7 Months! - Well into the Seller's Market Range!

Now for our unique custom Real Estate Market Charts! 

This first chart displays the Unit-Sales (quantity) of Resale Homes closed in March (Excludes New Construction).  We employ the simple method of statistical smoothing to show the short term trend line equaling the 3-month Moving Average; and the longer term trend line equaling the 12-month Moving Average. 

Vancouver Washington Resale Home Sales March 2015 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend March 2015

Clark County Washington's population in 2014 is estimated at 451,000; the largest community is Vancouver, with a population of approximately 167,000 (2013 est) within the City Limits; and another 80,000+ in the Vancouver Zip Codes under Clark County's jurisdiction . 

Next up is the display for the action on Vancouver's Resale Home Prices in March 2015.

Vancouver WA Resale Home Sales March 2015 - Average Sales Price Trends Vancouver WA Resale Home Sales - Average Sales Price Trend

We are currently seeing very brisk action in the sub-$250k price range, which in large measure is causing the average sales price to rise, along with the scant supply of homes for buyers in this price-tier to purchase.   

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

RMLS Charts of Vancouver WA Resale Home Sales Trends in March 2015 Vancouver Resale Home Sales Inventory & Days on Market Trends

There is little doubt so far in 2015 that Vancouver's Resale Real Estate Sales should continue on the same positive track for the near term

PS - Please visit the Homes For Sale page for Vancouver WA on our website, where we've made it is Easy to search by Neighborhood or by Category, with Homes  and real estate listings from the entire RMLS.  Sign-up Not Required!

PPS -2015 will be an exceptional year for the Vancouver real estate market.  Do You Have Home Selling or Buying Plans this year? - Call Us Soon!

The custom 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.