Thursday, August 27, 2015

Condo Market Report for Vancouver WA - July 2015

Vancouver's Condo Market Going Strong in July 2015!

Shorewood West Condos in Vancouver WA

 Condos for sale in Vancouver WA (aka Apartments-to-Own) are doing extremely well for improvement in both Unit-Sales-Volume, and Average Sales Price.  Here are the highlights for July 2015:

  • Condo Average Sales Prices have moved up strongly, with the 3-Month Moving Average now at $201,790 closing up 14.9% over the prior July; and the 12-Month Moving Average closed up 18.5%
  • 75 Resale Condos were sold in July, which is about 23 (44.2%) more condos than in July 2014;
  • REO/Bank Owned Condo sales were 5 units (6.7% of total); up from 3 (5.8% of total) in July 2014.
  • Short Sale /Pre-Foreclosure property sales were 2 units (1.7% of total); compared to 4 (7.7% of total) in July 2014.

Similar to SFR Homes for sale in Vancouver WA, Condos and Attached-Homes have seen a very strong increase in unit-volume however, this group's average price increase is at almost twice the rate!  We continue to see the Distressed-property segment for Condos shrinking, getting closer to more traditional low-levels.

Next we'd like to share our Custom Charts for Vancouver Condos! 

Vancouver Washington Condo Sales July 2015 - Units Sold Vancouver WA Resale Condo Sales - Units Sold Trend July 2015

The chart above for condo units-sold shows we are clearly in record territory, with the monthly average above 50 units (long-term) and close to 70 for the summer season!  If this year's pattern follows that of last year, we may be near the peak for the year in terms of number of condos sold.

July's results for Average Condo Sales-Prices also show we are in record-setting territory, with the 3-month moving average line (in red) still strongly upward.  Again, as we are near the end of the summer, we may see average sales prices start to moderate somewhat.

Vancouver WA Condo Sales July 2015 - Average Sales Price Trends Vancouver WA Resale Condo Sales - Average Sales Price Trend

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

Charts of Vancouver WA Condo Sales Trends in July 2015 Vancouver Condo Sales Inventory & Days on Market Trends

July's very strong performance is shown in this last trio of charts. With 3 Months for the Median Days on Market below 20 - condo buyers must be ready to act quickly when a new listing comes out!  RMLS is showing the Inventory level for Vancouver Condos at 1.7 months - which is still an extreme Seller's Market level. 

Thank you for taking the time to learn more about the Condo Market in Vancouver Washington.  You are invited to contact us with any questions or comments; and to let us know your selling or buying plans!

PS - Please visit the Condos For Sale in Vancouver WA page at our website, where we have made it Easy to search by Neighborhood for Condos, with listings for condos from the entire RMLS.  You do not have to Sign-up to view Condos!

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

The statistical charts for Vancouver WA Condos in this report (prepared by Vancouver WA Realtor® John Slocum, our resident statistician) are based on condo sales recorded in the Vancouver MLS system (RMLS), excluding sales of newly constructed condos; and shows the purchase activity since 2009; 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 Condo market.

Disclaimer: as with all 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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