Monday, January 30, 2017

Luxury Real Estate & Luxury Home Sales for Vancouver WA 2016 Final

Outstanding Improvement for Luxury Real Estate & Home Sales for Vancouver WA in 2016!

Vancouver WA  Luxury Real Estate and Luxury  Homes had been one of the lagging segments of the local real estate and home sales seen. Homes priced below the area average, up to a modest amount above; have been selling like wildfire. However, the further we went above that zone the sales slowed down considerably - until 2016 arrived!

Our Luxury Home Sales report includes both areas in the Vancouver City limits; and nearby Vancouver Zip Codes that Clark County oversees.  The minimum price/ value of $700,000 for a property to qualify for this area's luxury category.

 Here's the current luxury homes & real estate market view:

  • Closed Sales took place in every month, with the highest months in Summer / early Fall, and finishing with a strong December.
  • Vancouver WA Luxury Properties sold in 2016 = 53; compared to 34 in 2015;
  • There were Zero Bank Owned Luxury Home sales in both 2016 and 2015.
  • There were Zero Short Sale /Pre-Foreclosure property sales in both 2016 and 2015.
Vancouver WA has become a prime area for a luxury home buyer to move to from other parts of the country, especially home-based entrepreneurs and retirees, as we have No State or Local Income Tax.  Combined with relatively low Jumbo Home Loan rates, it is no wonder we are seeing strong improvement this year.

We like to use our own custom charts to tell our story, and this first one shows the rolling-three-month average unit sales (in red); with the rolling-twelve-month average (in blue) [Note - click on the chart to see a larger view]: 
Vancouver Washington Luxury Home Sales 2016 Summary - Units Sold Vancouver WA Luxury Home Sales - Units Sold Trend

Vancouver WA's Luxury Real Estate & Home market sales units dipped quite low in the early part of the year, which is typical; yet this year the volume advanced strongly, finishing the year in record territory. 

With such a small number of data-points to work with, we will skip our typical chart that shows average sales price trends. Thus, the next three charts come from RMLS for Inventory by Month; Average/Median Price by Month; and, Average/Median Days on Market by Month:
Charts of Vancouver WA Luxury Real Estate and Home Sales Trends in 2016 Vancouver Luxury Home Sales Inventory & Days on Market Trends

For 2016 it is clear the New Listings and Closed Sales came in stronger than the prior year. 

The Average/Median Price by month shown in the second graph is illustrative of how it is tough to find meaning in a line graph for these data. 

Finally the Sales Pace without a doubt shows greater velocity in 2016, with both the Average and Median DOM finishing around 100 days. 

There were 15 Luxury Homes that Closed for over $1,000,000:
Closed at over a Million Dollars Vancouver WA Luxury Real Estate and Home Sold 2016 Vancouver Luxury Homes Sold 2016 

With the higher number of Luxury Homes selling in 2016, there were also many more closing above $1,000,000 at 15; vs. 11 in 2015.  Additionally, 5 of those luxury properties sold above $2,000,000; vs. 1 in 2015.

There are many fine neighborhoods in Vancouver WA that have luxury homes.  Some favorites are: Rivercrest Estates Luxury Homes, luxury homes in the Felida & Lake Shore area to the Northwest part of Vancouver,  Columbia River Waterfront Luxury Homes, Rivershore Drive Luxury Homes ,  and Westridge Place Luxury Homes in east Vancouver. 

PS - Have Home Selling or Buying Plans in 2017 - Call Us Today or, visit our page for Real Estate Home Value for Vancouver WA Luxury Properties and request a free Comparative Market Analysis!

PPS -   You are invited to visit our Real Estate in Vancouver WA webpage, where we have made it Easy to search by Neighborhood for luxury homes and property from the entire RMLS.  You do not have to Sign-up to view luxury homes!

The informational charts for Vancouver WA Luxury Homes in this report (prepared by Vancouver WA Realtor® John Slocum, our statistician & Econ/Math major) are based on luxury real estate sales recorded in the Vancouver MLS system (RMLS), charting the 3 month Moving average number of sales, and the 12 month Moving average.  The "smoothing" of the relatively sparse-data helps to better illustrate the short-term and longer term trends in Vancouver's Luxury Property market.

Disclaimer: as with all real estate and property statistics, we do our very best to provide the most informative representation at the time the data was acquired.  We deem the data and reports reliable but not guaranteed.

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