Friday, February 24, 2017

Real Estate Market Report for Vancouver WA - January 2017

Dearth of Inventory for Vancouver Washington in January 2017

As we enter the sixth year of rising home prices in Vancouver Washington, we are also entering the time when Availability and Affordability of Active Listings is declining. Key Stats in January 2017 include:
  • 276 Pre-owned Homes were sold
  • Inventory Level at 0.8 Months of Supply (6 months supply is a "normal" market)
  • 5 Short Sale and 12 Bank Owned / REO sales closed.
  • Approximately 279 pre-owned properties sold in the RMLS, at approximately $84,668,000 in value.  Average sales price = $303,471
  • Approximately 67 New properties sold in RMLS at approximately $24,826,000 in value. Average sales price = $370,536
Lack of sufficient Available Active Inventory is shaping up to be a key challenge for home buyers this year. We cannot stress enough the need to save up for the funds necessary to secure your home loan, and also get your Debt-to-Income ratio in a healthy position (39% or less may be best).

We have prepared three charts (from the Regional Multiple Listing Service) to illustrate the real estate market results for Unit Sales, Average & Median Prices; and Days on Market:

RMLS Charts of Vancouver WA Resale Home Sales Trends for January 2017 Vancouver Resale Home Sales Inventory & Days on Market Trends

The Inventory By Month graph tells us that the new listings are not yet at a high enough level to improve the inventory level significantly.  

The second graph is showing that new listings are expecting to be able to achieve a higher sales price compared to the recently sold properties.

Lastly, the Days on Market indicators confirm we are in a fast-paced, Seller's Market.

Thanks for visiting and reading our update on Home Sales and Real Estate News for Vancouver Washington. You are invited to call us with any questions, or requests for assistance.

PS - the 2017 home sales market for Vancouver WA is expected to remain a Seller's market in the near term.  If you ace planning on Selling and want to know what your home is worth -  we offer a no-cost, no-obligation Real Estate Home Value for your Vancouver WA Home.  We also have on-line form to request your Home Market Analysis,,  Either way we trust you won't delay!

PPS - Now is a great time to visit our Homes For Sale 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: with any real estate statistics, we've done 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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