Home Sales Report Clark County WA - November 2018

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 2018

Even 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.
 

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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

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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.