Wednesday, November 18, 2015

Real Estate Market Report for Vancouver WA October 2015

Home Sales Still Relatively Strong in October 2015 for Vancouver WA !

We are still in a relatively Hot Real Estate Market despite the expected seasonal slowing for Vancouver Home Sales in October 2015.  Key elements for this past month:
  • 464 Resale Homes were sold in October 2015, which is 76 (19.6%) more homes than had sold in October 2014.
  • The Price Trend Lines show the 3-Month Moving Average trending downward, although up 6.52% over the prior year at $269,759; and the 12-Month Moving Average up 9.12%, and now at $261,651.
  • Short Sale /Pre-Foreclosure property sales were 6 units (1.3% of total); down greatly from last month; and a significant positive change compared to 12 (3.1% of total) in October of 2014.
  • REO/Bank Owned home sales were 19 units (4.1% of total); slowing the downward trend compared to 21 (5.4% of total) in October of 2014.
  • Inventory for Resale Homes at the end of October has slipped again and is now at 1.5 Months! - a Severe Seller's Market!
The Portland/Vancouver metro market area is still bucking the national trend for real estate in other parts of the country; as the retirement opportunity is huge in this area.  The charts below show how strong the current month has been especially when compared to the past two years.  
Vancouver Washington Resale Home Sales October 2015 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend October 2015

Looking specifically at the One-Year (12-Month rolling average) trend line (in-blue) two years ago the yearly average was 317 unit-sales per month; then 331 per month in 2014; and now 395 per month!  This is a whopping 19.3% increase in average monthly sales!    

The chart below is showing Vancouver's Resale Average Home Sales-Prices, and how the retreat below the flat-top has been minimal.  With the inventory level even less that previous months, we may see a smaller seasonal decrease in the average sales price this Fall and Winter.
Vancouver WA Resale Home Sales October 2015 - Average Sales Price Trends Vancouver WA Resale Home Sales - Average Sales Price Trend

79 properties (17.0%) closed at $200,000 or less when sold; with 166 (35.8%) sold that were priced $200,000 to $250,000. In comparison, in 2014 there 57.5% of the October sales were at $250k or below; while this October that is now at 52.8%.

From the Regional Multiple Listing Service the charts below show the past twelve-month's of action for Unit Sales, Average & Median Prices; and Days on Market:
RMLS Charts of Vancouver WA Resale Home Sales Trends in October 2015 Vancouver Resale Home Sales Inventory & Days on Market Trends

I know we are sounding like a broken-record here but this is phenomenal - we have now had seven (7) straight months where the Median Days on Market are less than 20 days; with the Average Days on Market for the past five (5) months very near 40 days!  Truly, we are still seeing a brisk sales environment.

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

Some of the Popular Searches include: Cascade Park Homes; The Heights Homes; Hazel Dell / Lakeshore Homes; Felida Homes; Fishers Landing Homes; Minnehaha / Walnut Grove Homes; And Salmon Creek Homes.

A few new neighborhoods we've recently added include: The Firs at Towncenter; Buckman Garden Tracts; The Reserve at Ashley Ridge, Hearthwood; Countryside Woods; Fircrest

PPS -2015 is breaking records for the Vancouver Washington real estate market.  Do You Have Home Selling or Buying Plans this Autumn/Winter Season? - Call Us Right Away!

This report and custom charts (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.