Monday, June 27, 2016

Real Estate Market Report Vancouver WA May 2016

Hot Prices with Strong Volume for Vancouver WA Home Sales in May 2016!

Rapidly rising sales prices are the big news for the Spring real estate season in Vancouver. Highlights for May include:
  • 426 Resale Homes were sold in May 2016, which is 5 (1.2%) more homes than were sold in May 2015.
  • The 3-Month Moving Average Price Trend Line is strongly up - now at 12.16% over the prior year at $288,066; and the 12-Month Moving Average is now up 9.37%, at $275,617.
  • Short Sale /Pre-Foreclosure property sales were at 15 units (2.2% of total); a huge decrease when compared to 22 (5.2% of total) in May of 2015.
  • REO/Bank Owned home sales were 14 units (3.3% of total); which is substantially lower from 33 (7.8% of total) in May of 2015.
  • The Inventory for Resale Homes for May edged up ever so slightly, and is now at 1.3 Months of Supply!
Vancouver, and the rest of Southwest Washington is challenged in the pre-owned home/condo market by more buyers than sellers.  We are continuing this season with the highest levels of closings, and rapid turnaround times than we've seen since the previous market peak. 

This first of our custom charts shows the Unit-Sales trends for the Short Term (red line) and Long Term (blue line).  
Vancouver Washington Resale Home Sales May 2016 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend May 2016

The short-term trend-line made its seasonal turn upwards at the highest level we've ever charted; although the long-term trend-line did flatten at the same time.  This long-term flattening suggests we've reached capacity in the inventory for resale homes.   

Next we have the price-performance for Vancouver market.  Clearly we are in the rarified air of record high prices, energized by a large pool of buyers, many using near record low interest rates.
Vancouver WA Resale Home Sales May 2016 - Average Sales Price Trends Vancouver WA Resale Home Sales - Average Sales Price Trend

46 properties (10.8%) closed at $200,000 or less when sold; with 111 (26.1%) sold that were priced $200,000 to $250,000. In comparison with the 2015 measurement, 53.9% of the May 2015 sales were at $250k or below; while this May that reading is now at 36.9%.

The final three charts (below) from the Regional Multiple Listing Service show the most recent 12 months real estate market action for Unit Sales, Average & Median Prices; and Days on Market:
RMLS Charts of Vancouver WA Resale Home Sales Trends in May 2016 Vancouver Resale Home Sales Inventory & Days on Market Trends

The first graphic is showing the seasonal spread between New Listings and Pending Listings. 

The second graphic is also showing that the average price for the new listings is significantly higher than what we've seen in the previous months.  New Sellers are likely trying to capture as much gain as they can, as this market has much momentum.

The final graphic shows that March was the turning point this year for the increased speed in transaction activity.

Thank you for viewing our report, and please contact us with any questions, or requests for assistance.

PS - You are welcome to visit our Homes For Sale in Vancouver WA page, or the separate page for Condos for sale in Vancouver WA.  We've tried hard 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.

A few of the Category searches include: Acreage Homes Vancouver WA; Vancouver WA Real Estate Listing Agents; 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 Free Home Market Analysis Vancouver WA, 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.

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