Vancouver WA's Real Estate Sales Relatively Strong for November 2016!
With one month to go we are now on a pace to exceed 2015's lofty results; as we are ahead of last year by 74 units-sold . Highlights for this November include:
- 392 Resale Homes were sold in November 2016, which is 62 More (18.7%)
homes than were sold in November 2015.
- The 3-Month Moving Average Price Trend Line has finally made its Seasonal
Downward turn - now
at 12.01% over the prior year at $304,303; and the 12-Month Moving Average is now up
11.24%, at
$293,249.
- Short Sale /Pre-Foreclosure property sales were at 3 units (0.8% of total);
a big decrease compared to 8 (2.4% of total) in November of 2015.
- REO/Bank Owned home sales were 10 units (2.53% of total); which is a bit
less than 14 (4.2% of total) in November of 2015.
- The Inventory for Resale Homes for November is again sharply down; now at 1.2 Months of Supply!
Given the large surge in home purchase in 2015 and early 2016, we have been
wondering "How Much Longer can this Continue?" With the extended
closing intervals we've experienced in 2016 (unlike the once-common 30 day
closings prior to October 2015), we think that many of the October and November
Closings this year would have closed a month earlier under the Old Closing
Rules. Thus, we likely have one more month to wait before we see the
seasonal slow-down set in.
The rest of our report is aided by our custom charts are
displayed below. The first one shows the Unit-Sales trends for the Short Term (red line) and Long
Term (blue line) up to the current month.
Vancouver WA Resale Home Sales - Units Sold Trend November 2016
For twelve (12) months now the long-term number of units sold per month
has stayed very close to 410, and this month it hit 414 - its highest level
achieved..
Next up is the chart showing the trend for the average sales-price. The
results this month are the first time since the 2016 up-tick began that prices
have shown any downward action. We'll want to review this again next month
to see if our strong-rising price environment will be easing.
Vancouver WA Resale Home Sales - Average Sales Price Trend
This month 39 properties (9.9%) closed at $200,000 or less when sold; with
97 (24.6%)
sold that were priced $200,000 to $250,000. In comparison with the 2015
measurement, 50.3% of
the November 2015 sales were at $250k or below; while this November that reading is now at
34.5%.
These final three charts shown below are from the Regional Multiple Listing Service
and show the most recent 12 months real estate market action for
Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Home Sales Inventory & Days on Market Trends
On a month-by-month basis the first chart indicates the relatively strong
tally for Closings in the Autumn months.
The second chart for this month is lets us see how the lower average sales
price was low enough to cause the 3-month average line to bend downward.
And lastly, the Average Days on Market shows we're still in a brisk sales
environment with the Average less than 40 days, and the Median just under 20
days.
Thank you for visiting and reading our
real estate market report for Vancouver Washington, and please contact us with any questions,
or requests for assistance.
PS - You owe it to yourself to visit our
Homes
For Sale in Vancouver WA page, or the separate page for
Condos for sale in Vancouver WA. We've put much custom work in to make it Easy
for You 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;
Felida Homes;
Fishers Landing Homes;
Hazel Dell / Lakeshore Homes;
Minnehaha / Walnut Grove Homes; and
Salmon Creek Homes.
We also have Category searches including:
Acreage Homes Vancouver WA;
Listing Real Estate Agent Vancouver WA;
One-Level Ranch Homes for sale in Vancouver WA.
PPS -2016's
real estate market action
is setting records for the Vancouver WA.
If you ace planning on Selling or, just want to know what your home is worth -
we offer a no-cost, no-obligation
Real Estate Home Price Report, and invite you to try it out!
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.
