Tuesday, March 7, 2017

What is My Vancouver WA Condo Worth - January 2017

Shrinking Inventory in January 2017 for Condos in Vancouver Washington!

Northwynd Condos at the Waterfront Vancouver WA
 Condos in Vancouver Washington have been so popular in the past couple of years, that we are seeing a very small level of Active Inventory for pre-owned units. Here are the highlights for January 2017:

  • There were 35 Closed Sales, with 43 Units going Pending;
  • The Average Sales Price was $196,854, with the Maximum at $315,000;
  • The Cumulative Days on Market was at 49, with the Median at 21.
  • The Inventory Level for Resale (Pre-Owned) Condos ended the month at 0.7!

Without more Condos and Attached-style homes coming on the market in the near future, this category of Vancouver WA real estate will be strained by fewer buyer choices and prices that continue to rise faster than their long-term average..

To help see some of the Condo Vancouver WA Market Scene graphically, we've prepared the following from the RMLS statistics system:

Charts of Vancouver WA Condo Sales Trends for January 2017 Vancouver Condo Sales Inventory & Days on Market Charts

Inventory-by-Month is shown first, with the closed sales for December and January at the typically lower level compared to the remaining months of the year.

The second graph shows the relationship between Average List Price and Average Sales Price.  Being a relatively small statistically sample, this chart will tend to rise and fall on a month-to-month basis.

Lastly, we've included a 12-month table of the month-by-month sales of pre-owned condos, which will show the minimum and maximum sales prices. 

We hope you found our report helpful on the January 2017 Condo Market in Vancouver WA.  Please let us know your questions or comments; as we are glad to be of assistance!

PS - Do you have Condo Selling or Buying Plans in 2017 - then Call Us Soon!   We also offer a no-cost, no-obligation Vancouver WA Condo Valuation, and know you'll want to try it out! 

PPS - You may also want to visit the Condos Vancouver WA page at our website, where we have made it Easy to search by Neighborhood for Condos, with listings for condos from the entire RMLS.  You do not have to Sign-up to view Condominiums and Townhomes!

The information and charts for Vancouver WA Condos in this report (prepared by Vancouver WA Condo Listing Realtor® John Slocum, our resident statistician) are based on condo sales recorded in the Vancouver MLS system (RMLS), excluding sales of newly constructed condos; and shows the purchase activity since 2009; 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 Condominium market.

Disclaimer: as with all 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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