Friday, June 19, 2015

Luxury Home Market Report For Vancouver WA May 2015

Surging Sales Results for Vancouver's Luxury Home Market in 2015!

Luxury Homes in Vancouver WA

 Vancouver Washington Luxury Homes had taken a substantial hit during the market crash but have been making a nice comeback the past couple of years. So far in 2015 the unit-volume has been substantially better than in prior periods.  Here's the current view:

  • Average Sales Prices are lingering in the area just under $1,000,000.showing the logical greater activity in the $700,000 and slightly above price area.
  • 17 Vancouver Luxury Homes were sold through May 2015; compared to 11 in the same period in 2014;
  • REO/Bank Owned Luxury Home sales were 0 units; down from 1 in 2014.
  • Short Sale /Pre-Foreclosure property sales were 0 - no change from last year.

With the incredible surge in sales of homes in Vancouver WA, especially in the lower price-tiers; there has most certainly been benefit to the Luxury Home tier with "Move Up" buyers now able to actually make such a purchase.  We are also seeing renewed interest form Oregon and California buyers that also want the benefit of No Personal Income Tax here in Washington - combined with the relatively lower cost of a true luxury home!.

Next in line will be our custom charts for Vancouver Luxury Homes: 

Vancouver Washington Luxury Home Sales May 2015 - Units Sold Vancouver WA Luxury Home Sales - Units Sold Trend

The Vancouver WA Luxury Home market is a sub-element of the overall real estate market  thus, the trend line will look unique owing to the relatively smaller statistical-population of units sold each month.  This market segment has lagged the general market by about a year; with a clear upward move starting in early 2013 with the 12 month trend-line (in blue) going from an average of one (1) sale per month to four (4) per month!

Continuing on (below),  the results for Average Luxury Home Sales-Prices are more difficult to illustrate, since the data is not starting at a true zero; and more luxury homes are "graduating up" from the sub-$700,000 cut-off for this report as the market prices rise.

Vancouver WA Luxury Homes and Real Estate Sales May 2015 - Average Sales Price Trends Vancouver WA Luxury Home Sales - Average Sales Price Trend

The set of RMLS chats below show the month-by-month action January 2010 - through May 2015, for Listings & Unit Sales, Average & Median Prices; and Days on Market:

Charts of Vancouver WA Luxury Real Estate and Home Sales Trends in May 2015 Vancouver Luxury Home Sales Inventory & Days on Market Trends

The Inventory by Month graphic helps illustrate how sparse the sales were for the first half of this 5+ year period in this price-tier; with the more recent years seeing much greater activity. 

The Days on Market chart is another way to show the improved health of this price tier.  The first half of the time period had some very "long in the tooth" listings finally sell; while the more recent years the Average time on the market is more reasonable.

List of Vancouver WA Luxury Real Estate and Home Sold 2015 YTD Vancouver Luxury Homes Sold Year-to-Date

When working on this report it became clear that providing some of the basic information on each of the properties sold so far this year may be of benefit to our readers.  As you can see (you can view the larger image on a separate tab/window) there is a great variety of homes sold in neighborhoods ranging from the Columbia River Waterfront / Rivershore Drive area, to the luxury homes in the Felida & Lake Shore area to the Northwest part of Vancouver. 

Note - The RE/MAX Collection qualifications for the Vancouver area has until recently been about $500,000 and above.  With the great rise in average market prices we've chosen a cut-off of $700,000 for this report to ensure we are showing you Luxury Properties.
- You are invited to visit our Real Estate in Vancouver WA website, where we have made it Easy to search by Neighborhood for luxury homes and property from the entire RMLS.  You do not have to Sign-up to view luxury homes!

PPS - Don't wait any longer with your Home Selling or Buying Plans - Call Us Soon!

The statistical charts for Vancouver WA Luxury Homes in this report (prepared by Vancouver WA Realtor® John Slocum, our statistician & Econ/Math major) are based on luxury real estate sales recorded in the Vancouver MLS system (RMLS), charting the 3 month Moving average number of sales, and the 12 month Moving average.  The "smoothing" of the relatively sparse-data helps to better illustrate the short-term and longer term trends in Vancouver's Luxury Property market.

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

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