Tuesday, December 1, 2015

Vancouver WA Condo Market Report October 2015

Vancouver WA Condo Market with Brisk Sales in October 2015!

 Condos and Townhomes for sale in Vancouver WA (aka Apartments-to-Own) are now facing an extreme shortage of available units to view!  Here are the highlights for October 2015:
  • Condo Average Sales Prices are moving in a seasonal downward direction, with the 3-Month Moving Average now at $192,696 closing down 4.35% over the prior October; and the 12-Month Moving Average closed up 5.72% from the prior year;
  • 51 Resale Condos were sold in October, which is about 7 (-12.1%) Fewer condos than in October 2014;
  • REO/Bank Owned Condo sales were 1 units (2.0% of total); down from 2 (3.4% of total) in October 2014.
  • Short Sale /Pre-Foreclosure property sales were 0 unit (0.0% of total); compared to 3 (5.2% of total) in October 2014.
Attached-Homes + Condos have performed a bit more strongly than Vancouver WA (SFR Homes so far in 2015.  In fact, the available supply of Condos readily available to sell has slipped again to 1.4 months; and for October the Average Days on Market was less than 20; with the Median Days at about 10!

Please continue with the Custom Condo Charts shown below for more of the story! 
Vancouver Washington Condo Sales September 2015 - Units Sold Vancouver WA Resale Condo Sales - Units Sold Trend September 2015
We continue to see the relatively steep decline in the short term trend-line for units-sold, while the long term trend-line's slope is now only a moderate rise - especially when compared to the steeper rise during 2014.  We believe one plausible explanation for the moderating increase in unit-sales is this segment of the Vancouver real estate market has fully recovered; and there are now only so many pre-owned condos that are going to be available for sale.

Average Condo Sales-Prices for this month are trending downwards, which may in large part be due to fewer of the Luxury Condos selling this year when compared to last year.  Again, the Vancouver market for this type of home is relatively small such that greater variability should be expected in the results for this segment.  Thus, the reality for most price-segments is that prices are still firm to increasing.
Vancouver WA Condo Sales September 2015 - Average Sales Price Trends Vancouver WA Resale Condo Sales - Average Sales Price Trend

The RMLS chats below show the most recent twelve (12) months of condo market action - through October 2015, for Unit Sales, Average & Median Prices; and Days on Market:
Charts of Vancouver WA Condo Sales Trends in September 2015 Vancouver Condo Sales Inventory & Days on Market Trends

October's results are shown in different elements with these final three charts. We have now had six (6) months with the Median Days on Market at the sub-20 mark. This month's results are astonishing however, with the Average Days on the Market hitting 20!

We hope you found this report on the Vancouver WA Condo Market to be helpful in your process to sell or buy in this market time.  Please contact us with any questions or comments; and to let us know how we can be of assistance!

PS - Please visit the Condominiums 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 Condominiums and Townhomes!

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 Condo 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 Condominium 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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