Saturday, September 17, 2016

Vancouver WA Real Estate Market Report for August 2016

Unit-Volume Back on Track(?) for Vancouver WA Real Estate Sales in August 2016!

Following July's year-over-year drop of 68 units; August unit-sales were 35 more than August 2015. Anecdotally we've seen may financed transactions take two or more weeks longer to Close owing to Appraisal Delays and/or the TRiD Regulatory Delays.  Highlights for this August include:

  • 476 Resale Homes were sold in August 2016, which is 35 More (7.9%) homes than were sold in August 2015.
  • The 3-Month Moving Average Price Trend Line is still going up - now at 11.69% over the prior year at $303,803; and the 12-Month Moving Average is now up 10.73%, at $284,726.
  • Short Sale /Pre-Foreclosure property sales were at 5 units (1.1% of total); a nice decrease compared to 12 (2.7% of total) in August of 2015.
  • REO/Bank Owned home sales were 16 units (3.36% of total); which is slightly lower from 18 (4.1% of total) in August of 2015.
  • The Inventory for Resale Homes for August edged up again this month, and is now at 1.8 Months of Supply!

Recently the Federal Bureau of Labor and Statistics show positive job growth in the Portland / Vancouver metro area. Multnomah County has seen the strongest growth, with Clark County coming in at 0.7% (or, $6 per week). 

Increasing payrolls in the local area bode well for the local real estate market, is it is a borrowers income that allows a home loan to be paid; property taxes to be paid, etc.  Rising rents also motivate a wage-earner to step into the home-ownership action plan.  

Our custom chart below shows the Unit-Sales trends for the Short Term (red line) and Long Term (blue line) up to the current month. 

Vancouver Washington Resale Home Sales August 2016 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend August 2016

When looking at the long-term trend-line above (blue line) we can see that the dip in July was enough to send the line in the downward direction; while the "recovery" in August has been about enough to return the line to its previous level.   

This next chart shows the average sales-price trends. With several hundred fewer Active listings available for buyers, the resultant skyrocketing of sales prices has been the expected result.

Vancouver WA Resale Home Sales August 2016 - Average Sales Price Trends Vancouver WA Resale Home Sales - Average Sales Price Trend

This month 39 properties (8.2%) closed at $200,000 or less when sold; with 107 (22.5%) sold that were priced $200,000 to $250,000. In comparison with the 2015 measurement, 55.6% of the August 2015 sales were at $250k or below; while this August that reading is now at 30.7%.

The final three charts (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:

RMLS Charts of Vancouver WA Resale Home Sales Trends in August 2016 Vancouver Resale Home Sales Inventory & Days on Market Trends

The first graphic is showing the seasonal spread between New Listings and Pending Listings; and the actual month-by-month closed sales (red bars). 

The second chart shows the upward trend for average price for the new listings.

The last chart shows that the past six (6) months have had very brisk sales 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; Listing Realtor 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, 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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