Thursday, December 8, 2016

Real Estate Market Report for Vancouver WA November 2016

Vancouver WA's Real Estate Sales Relatively Strong for November 2016!

With one month to go we are now on a pace to exceed 2015's lofty results; as we are ahead of last year by 74 units-sold . Highlights for this November include:

  • 392 Resale Homes were sold in November 2016, which is 62 More (18.7%) homes than were sold in November 2015.
  • The 3-Month Moving Average Price Trend Line has finally made its Seasonal Downward turn - now at 12.01% over the prior year at $304,303; and the 12-Month Moving Average is now up 11.24%, at $293,249.
  • Short Sale /Pre-Foreclosure property sales were at 3 units (0.8% of total); a big decrease compared to 8 (2.4% of total) in November of 2015.

  • REO/Bank Owned home sales were 10 units (2.53% of total); which is a bit less than 14 (4.2% of total) in November of 2015.
  • The Inventory for Resale Homes for November is again sharply down; now at 1.2 Months of Supply!

Given the large surge in home purchase in 2015 and early 2016, we have been wondering "How Much Longer can this Continue?"  With the extended closing intervals we've experienced in 2016 (unlike the once-common 30 day closings prior to October 2015), we think that many of the October and November Closings this year would have closed a month earlier under the Old Closing Rules.  Thus, we likely have one more month to wait before we see the seasonal slow-down set in.

The rest of our report is aided by our custom charts are displayed below.  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 November 2016 - Units Sold Vancouver WA Resale Home Sales - Units Sold Trend November 2016

For twelve (12) months now the long-term number of units sold per month has stayed very close to 410, and this month it hit 414 - its highest level achieved..   

Next up is the chart showing the trend for the average sales-price. The results this month are the first time since the 2016 up-tick began that prices have shown any downward action.  We'll want to review this again next month to see if our strong-rising price environment will be easing.

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

This month 39 properties (9.9%) closed at $200,000 or less when sold; with 97 (24.6%) sold that were priced $200,000 to $250,000. In comparison with the 2015 measurement, 50.3% of the November 2015 sales were at $250k or below; while this November that reading is now at 34.5%.  

These final three charts shown 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 November 2016 Vancouver Resale Home Sales Inventory & Days on Market Trends

On a month-by-month basis the first chart indicates the relatively strong tally for Closings in the Autumn months.  

The second chart for this month is lets us see how the lower average sales price was low enough to cause the 3-month average line to bend downward.

And lastly, the Average Days on Market shows we're still in a brisk sales environment with the Average less than 40 days, and the Median just under 20 days. 

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 owe it to yourself to visit our Homes For Sale in Vancouver WA page, or the separate page for Condos for sale in Vancouver WA.  We've put much custom work in 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 Real Estate Agent 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.

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