Friday, October 14, 2016

Real Estate Market Report for Vancouver WA September 2016

Extended Up-Market for Vancouver WA Real Estate Sales in September 2016!

The 2016 and 2015 sales seasons have been Epic for real estate sales in Vancouver WA, with the slight, quirky slow month of July has been turned-around in both August and now September. Highlights for this September include:

  • 445 Resale Homes were sold in September 2016, which is 6 More (1.4%) homes than were sold in September 2015.
  • The 3-Month Moving Average Price Trend Line is still going up - now at 12.9% over the prior year at $307,083; and the 12-Month Moving Average is now up 10.8%, at $287,590.
  • Short Sale /Pre-Foreclosure property sales were at 5 units (2.02% of total); a nice decrease compared to 14 (3.19% of total) in September of 2015.

  • REO/Bank Owned home sales were 9 units (2.02% of total); which is slightly lower from 14 (3.19% of total) in September of 2015.
  • The Inventory for Resale Homes for September headed back down, and is now at 1.6 Months of Supply!

This past summer home sales season has been very busy, to say the least!  Although the popular press has reported a slowdown, we think more correctly what we've seen is a backlog of sales that have not been processed in the more typical time-frames owing to a lack of Appraisers and other personnel to work the home loan / financing part of the equation. 

When using our charting of the Short Term that is a 3-month Average; and the Long Term which is a 12-month average, we can see that 2016 was just as strong a home sales year as was 2015.  

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 September 2016 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend September 2016

With the long-term trend now going "sideways" (see above) for several months it shows that the unit-sales volume has not kept the upward pace of the past two years however, it has also not yet decreased such to see a downward trend.   

This next chart shows the trends for the average sales-price. Unlike last year's pause in the price rise at this time of the year, we are continuing to see strong upward momentum, and are clearly in record-setting territory.

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

This month 42 properties (9.3%) closed at $200,000 or less when sold; with 113 (25.1%) sold that were priced $200,000 to $250,000. In comparison with the 2015 measurement, 53.99% of the September 2015 sales were at $250k or below; while this September that reading is now at 34.4%.  

Shown below, the final three charts 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 September 2016 Vancouver Resale Home Sales Inventory & Days on Market Trends

The first of three charts shows how closings have been consistent over the past seven months; and that this most recent month has a significant drop in New Listings.  

The second chart shows the variability on a month-to-month basis but, within that a general upward trend can be seen in the most recent months.

Although the sales pace slowed slightly for September, we are still in a time where home sales are occurring quite rapidly on average. 

Thank you for viewing our real estate market report for Vancouver Washington, and please contact us with any questions, or requests for assistance. 

PS - Please visit our Real Estate 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.

We also have Category searches including: 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 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.