Sunday, December 4, 2016

Real Estate Market Report for Vancouver WA October 2016

Vancouver WA's Real Estate Sales Leveling in October 2016!

2016 has so far turned out to be one of the hottest years in real estate in the past decade.  We are perhaps seeing some leveling to the pace this month. Highlights for this October include:

  • 396 Resale Homes were sold in October 2016, which is 84 Fewer (-17.5%) homes than were sold in October 2015.
  • The 3-Month Moving Average Price Trend Line is pointing almost straight up - now at 16.1% over the prior year at $313,298; and the 12-Month Moving Average is now up 11.6%, at $292,035.
  • Short Sale /Pre-Foreclosure property sales were at 8 units (2.02% of total); a slight increase compared to 6 (1.25% of total) in October of 2015.

  • REO/Bank Owned home sales were 9 units (2.27% of total); which is much lower from 21 (4.6% of total) in October of 2015.
  • The Inventory for Resale Homes for October headed sharply down, and is now at 1.4 Months of Supply!

Autumn is the time of the year we typically see home sales slow - at least unit-volume-wise; and this year seems to be no different in that respect.  The short-term moving average for unit-sales has the current level at 4 homes per month higher than at the same time last year.  Are we at a market-top? - at this point it is hard to say.  

Our custom charts are displayed below, and 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 Washington Resale Home Sales October 2016 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend October 2016

Seeing the long-term trend-line in a relatively narrow range for the past few months strongly suggests that we have reached the area's capacity limit for pre-owned home sales. Further confirming that view is the increasingly steep rise to the average sales price, as shown below.   

This next chart shows the trends for the average sales-price. We now see both the short-term and long-term trend-lines rising more steeply, with the short-term line in a relatively long, un-broken segment this year.

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

This month 52 properties (13.1%) closed at $200,000 or less when sold; with 113 (23.7%) sold that were priced $200,000 to $250,000. In comparison with the 2015 measurement, 51.7% of the October 2015 sales were at $250k or below; while this October that reading is now at 36.6%.  

The final three charts we show 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 October 2016 Vancouver Resale Home Sales Inventory & Days on Market Trends

The first chart clearly shows how the past 8 months the closed sales have been at about 400 units or better, with the New Listings dropping, as typical in the Autumn season.  

The second chart for this month is showing the strong upward spurt in the Average Sales price, which even exceeds the average new listing price for the month!

Finally, the Average Days on Market compares to last month at the same level, while the Median Days on Market moved up by several days. Still a fast-moving market. 

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 are invited 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.

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.

No comments:

Post a Comment