Vancouver WA Condo Market Post Strong Sales in December 2015!
Vancouver WA's Condo and Attached-Home market is
experiencing an
extreme shortage of available pre-owned units for sale! Here are the highlights for
December 2015:
- Condo Average Sales Prices reversed the attempt at a seasonal downward direction
and are now at the highest level seen in 3+ years, with the 3-Month Moving Average
now at $203,354
closing up 4.26% over the prior December; and the 12-Month Moving Average closed up
4.26% from the prior year;
- 53 Resale Condos were sold in December, which is about 5
(10.4%) More condos than in December 2014;
- REO/Bank Owned Condo sales were 3 units (5.7% of total); down from 4
(8.3% of total) in December 2014.
- Short Sale /Pre-Foreclosure property sales were 0 unit (0.0% of total); compared to 3 (6.25% of total) in December 2014.
Condos + Attached-Homes are quite popular these days in the Vancouver
market. We are now down to 0.8 months of supply for pre-owned condos; and
have experienced 8 straight months where the Median Days on Market has been less
than 20 Days!
We've prepared our Custom Condo Charts
shown below to help tell the story!
Vancouver WA Resale Condo Sales - Units Sold Trend December 2015This segment displayed the peak in the short-term number of units sold in
August at 69, with the previous seasonal "turning point" in the prior January.
However, this season we appear to have made the turn in November!
Average Condo Sales-Price
trends (shown below)
for this month moved sharply upwards, and this makes sense they would with so
few units available for sale. We expect the trend for the next few months
to stay firm to increasing.
Vancouver WA Resale Condo Sales - Average Sales Price Trend
The RMLS chats below illustrate the recent twelve (12) months of condo market
results - through December 2015, for
Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Condo Sales Inventory & Days on Market Trends
We have now had eight (8) months with the Median Days on Market at the sub-20-day
mark. This month's average sales price is also at the highest level for the past
12 months. With the average list price is less than the Sales price, it is clear
we are seeing either Full-Price or Competitive Bids for the successful
purchasers.
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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