Friday, July 29, 2016

Vancouver WA Real Estate Market Report June 2016

Rising Prices with Slowing Unit-Volume for Vancouver WA Real Estate Sales in June 2016!

Strongly rising sales prices in Vancouver, and even more so in Portland, OR, have been making national news as the fastest (in percentage) price-increase region in the nation. Highlights for June:

  • 488 Resale Homes were sold in June 2016, which is 28 FEWER (-5.4%) homes than were sold in June 2015.
  • The 3-Month Moving Average Price Trend Line is still going up - now at 10.88% over the prior year at $291,763; and the 12-Month Moving Average is now up 9.05%, at $277,718.
  • Short Sale /Pre-Foreclosure property sales were at 19 units (3.9% of total); a modest increased compared to 17 (3.3% of total) in June of 2015.

  • REO/Bank Owned home sales were 16 units (3.3% of total); which is substantially lower from 28 (5.4% of total) in June of 2015.
  • The Inventory for Resale Homes for June edged up again this month, and is now at 1.6 Months of Supply!

The Vancouver / Portland metro area are now at the top of the national list for fastest rising home prices!  The underlying reasons include: Popularity of this area for Retirees; Mild Weather; relatively Lowest Cost region of the entire West Coast,  

The initial custom chart below shows the Unit-Sales trends for the Short Term (red line) and Long Term (blue line).  

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

The the continued "flat or, level" nature of the long-term trend for unit-sales is a strong signal that our local market is now at capacity with respect to the available inventory of pre-owned homes. This ought to be a clear signal to home builders that it may be relatively safe at this time to continue building new residential homes.   

This next chart shows the price-trends. With unit-sales at a historically high level, the continued increase in prices is a logical outcome, as seen below.

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

This month 65 properties (13.3%) closed at $200,000 or less when sold; with 124 (25.4%) sold that were priced $200,000 to $250,000. In comparison with the 2015 measurement, 50.8% of the June 2015 sales were at $250k or below; while this June that reading is now at 38.7%.  

These last 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 June 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 chart shows the average price for the new listings is continuing to be higher than what we've seen for prior months.

The last chart shows that the past 3 to 4 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 Online Home Valuation, 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.