Declining Sales of Existing Homes in Clark County WA for November 2018.
Existing (pre-owned) homes, like other parts of the nation, have been slowing significantly, and we are down 104 units this month compared to the same time last year. Here are highlights for this month:
- Average-Sales Prices are up but at a slower pace, with the 12-month/long-term
trend line up 9.06% compared to last year at this time; and the 3-Month Moving Average is up
5.94% from November last year;
- The Inventory for Resale Homes slipped to 1.8 Months Supply;
- Approximately 479 Resale Homes closed in the month, which is about 104 fewer (-17.8%) homes than in 2017;
and 80 fewer than last month.
- REO/Bank Owned property sales were 2 units (0.4% of total); down from 9 (1.5%) in 2017.
- Short Sale /Pre-Foreclosure property sales were 0 units (0.0% of total); down from 2 (0.3%) in 2017.
The month-end, 30-year-fixed home loan benchmark interest rate is 4.87% (up
slightly from 4.83% last month) according to Freddie Mac; compared to 3.92% for November 2017.
I've prepared a custom Unit-Volume chart to illustrate both the short term (in red) and
long term (12-month moving average in
Blue) trends (shown below):
Clark County Home Sales - Units Sold Trend November 2018Even with both trend-lines declining, the short term trend has fallen below
the long-term trend one month earlier this year. Higher home-loan rates
and higher home prices are a tough combination to have and not expect the number
of sales to fall to some extent.
The
next chart is for Average Home Sales Price trends, both the short-term and long-term:
Clark County Home Sales - Average Sales Price Trend
November 2018
The
November short term Average sales price for Clark County is now at $389,547;
which is down from the peak 4 months ago. This represents an increase of
approximately $21,855 from
the same month last year.
Our remaining set of charts from RMLS show:
Clark County Home Sales Inventory
& Days on Market - November 2018
New Listings, Pending Sales and Closed Sales
in lock-step going lower. Active Inventory
fell slightly.
The second graph with Prices
shows new listings and closed sales coming in at lower levels than the peak.
Days on the Market, Average
and Median, fell slightly. Both are still well above the summer-time levels.
The latest RMLS published report on
the Clark County real estate scene can be found here:
RMLS Market Action Report on our
main website.
PS - The real estate market is adjusting to the much higher
prices combined with higher loan costs however, there is
still time to List and Sell Your Home with Our
Team; or, at least find
out what your home is worth! We offer a no-cost, no-obligation
Clark County WA Home Valuation, and invite you to try it out!
PPS -
Looking to buy a home reasonably soon? Interest rates are still at historically
very low rates. You are invited to visit our web-page for
Clark County WA Homes For Sale where it is Quite Easy to search by City,
Neighborhood or by Category, with homes and real estate listings from the entire
RMLS. Sign-up Not Required! The property and home listings shown are
provided via many updates each day, and you will be e-mailed hourly with any new
matches once you've signed up for a home search.
We also have the MLS
Listings for these great towns in Clark County:
Battle Ground WA Real
Estate |
Brush Prairie WA Homes |
Camas WA Homes
For Sale |
Hockinson WA Homes |
La Center WA Homes for sale |
Ridgefield WA Homes for sale |
Homes for sale in Vancouver Washington |
Washougal WA Real
Estate |
Yacolt WA Homes |
Amboy WA Homes
The information and charts in this Clark County WA real estate update (prepared by
Vancouver WA Real Estate Broker, John Slocum, CRS, SFR, our resident statistician) are based on home sales recorded in the
Clark County WA 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 Clark County'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
and compiled. The data and reports are deemed reliable but not guaranteed.
