Tuesday, January 17, 2017

Real Estate Market Report for Vancouver WA December 2016

Vancouver WA's Real Estate Sales Finished Strong in December 2016!

Having made it to the end of 2016 we have exceeded last year's record by 123 units-sold (+2.52%) . Highlights for December include:

  • 429 Resale Homes were sold in December 2016, which is 21 More (5.1%) homes than were sold in December 2015.
  • The 3-Month Moving Average Price Trend Line changed slightly from last month - now at 12.93% over the prior year at $304,273; and the 12-Month Moving Average is now up 11.74%, at $295,941.
  • Short Sale /Pre-Foreclosure property sales were again at 3 units (0.7% of total); substantially lower than 12 (2.9% of total) in December of 2015.

  • REO/Bank Owned home sales were 11 units (2.6% of total); which is much less than 24 (5.9% of total) in December of 2015.
  • The Inventory for Resale Homes for December is again sharply down; now at 0.9 Months of Supply!

The number of pre-owned homes sold has somehow occasionally been reported in the popular press as slowing down in the fall compared to last year.  However, we know that a comparison of one-month this year to one-month of last year can leave out a lot of information about the true trend we are in. When we provide some very, very simple statistical smoothing to create a 3-month trend line and a 12-month trend line, the strength of the real estate market in 2016 for Vancouver Washington can be clearly seen. In sum, the basic math says that when the unit-sales are relatively flat; combined with a drastic shrinkage of available inventory plus rising prices - then the Answer is = we have reached a practical limit to the number of homes that can be sold.

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

The long-term trend closed out the year at 418 units per month; while the same number last year was 407. This seems relatively "flat" but, within those numbers there was a lot of sales action.   

The next chart shows the trend-lines for the average sales-price. In our opinion with the slope of the long-term price trend, December's result shows there remains much upward momentum in this department.

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

This month 45 properties (10.5%) closed at $200,000 or less when sold; with 108 (25.2%) sold that were priced $200,000 to $250,000. In comparison with the 2015 measurement, 52.9% of the December 2015 sales were at $250k or below; while this December that reading is now at 35.3%.  

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 December 2016 Vancouver Resale Home Sales Inventory & Days on Market Trends

In the first chart here we see that on a month-by-month basis Vancouver WA Home Sales did very well the last three months of the year, while New Listings plummeted.  

The second chart shows for December the average list-price for new listings is slightly above the closed sales price average.

And finally, the Average Days on Market moved up by a few days however, compared to previous years the pace in 2016's Fall Season has been brisk. 

Thank you for visiting and reading our real estate market report for Vancouver Washington. We trust you'll contact us with any questions, or requests for assistance. 

PS - 2016's real estate market action is set records for 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 today!

PPS - Now is a great time 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.

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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