Condo Market Report for Vancouver WA - 2016 Summary

Robust Sale Activity Throughout 2016 for Condos in Vancouver Washington!

 One of the most popular segments of the local real estate scene are Condos for sale in Vancouver Washington.  This past year we've seen record demand, without a concurrent increase in new listings; leaving us with an incredible Seller's Market. Here are the highlights for the year 2016:

• The 3-Month Moving Average Condo Average Sales Prices are at $213,427 - record high levels,  closing up 4.9% over year-end 2015; the 12-Month Moving Average also closed up a strong 7.9% from last year;
     
• 644 pre-owned Condos sold in 216; down about 18 (-2.7%) from 2015's condo sales - clearly  we are at Capacity for the Condo segment of  the overall Vancouver WA Real Estate Market;
   
• 21 REO/Bank Owned Condo units sold (3.3% of total); down from 50 (7.6% of total) in 2015.
   
• 10 Short Sale Condo units sold (1.6% of total); compared to 19 (2.9% of total) in 2015.

With 18 fewer units sold this year compared to 2015's sales, combined with rising prices assures us we are still in a Seller's Market for Condos.

We'll continue with our Custom Charts below: 

Vancouver WA Resale Condo Sales - Units Sold 2016

We see a clear leveling in the long-term chart, with a higher-low, and lower-high for the short term trend line. We see this as a good sign that the condos are selling about as fast as they come on the market, no matter what time of the year.

Vancouver WA Resale Condo Sales - Average Sales Price

For over a year now the long-term price trend has been in a steady up direction, with the short-term trend staying above that line.

Finally, Unit Sales, Average & Median Prices; and Days on Market information shown below (from RMLS ), shows the recent two-year's worth of condo market results - January 2015 through December 2016:

Vancouver Condo Sales Inventory & Days on Market Charts

Inventory-by-Month is shown first, with the closed sales in 2016 fairly consistent from month-to-month.

The second graph shows the gradually higher list-prices, and sales prices.

Lastly, the Pace of Sales, as measured by the Average Days on Market and Median Days on market was very brisk in 2016 compared to 2015!

We hope you found our report helpful on the 2016 Condo Market in Vancouver WA.  Please let us know your questions or comments; as we are glad to be of assistance!

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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 For Sale in 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!

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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.

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 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:

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:

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. 

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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!

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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.

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 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 - 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:

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. 

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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.

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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.