Home Sales Report Vancouver WA - April 2020

Unit-Home Sales and New Listings Plummet with Continued Price Rise for Clark County WA in April 2020.

With a full month of the effects of the government response to the pandemic, we are seeing a big drop in both Closed Sales and in New Listings, yet - prices have not yet fallen. Here are the key elements for this month's report: 

• Average-Sales Price moved up to $420,486 - another all-time high, with the 12-month/long-term trend line up 4.43% year-over-year;  and the 3-Month Moving Average up 9.15% from this time last year; 
   
• The Inventory for Resale Real Estate remained unchanged at a very low 1.2 Month level of Supply;
   
• Approximately 407 Resale Properties were sold/closed, which is about 130 fewer (-24.21%) homes than in 2019; and 47 fewer than last month;
   
• REO/Bank Owned property sales were 5 units (1.23% of total); down from 10 (1.86%) in 2019; 
   
• Short Sale /Pre-Foreclosure property sales were 2 unit (0.49% of total); down from 5 (0.9%) in 2019.

The Home Mortgage 30-year-fixed loan interest rate (nationwide average) at month-end, fell moderately to 3.31% (Down from 3.45% last month) according to Freddie Mac; compared to 4.47% for April 2019. Now in uncharted territory with the federal and world-wide response to the current pandemic, we expect rates to remain lower and perhaps enter the 2% range.

Below we have our custom chart for Unit-Volume (number of properties sold) showing short term (in Red) and long term (12-month moving average in Blue) trends: 

Clark County Home Sales - Units Sold Trend April 2020

Unit-sales have turned the corner however, the pace going upward is very weak this year - which is to be expected with the massive disruption to the local and wider economy.   

Our graph for the action in the Average Home Sales Price is shown next, showing the current and past Home-Sales-Price results for both short-term and long-term: 

Clark County Home Sales - Average Sales Price Trend April 2020

The continued low level of Active Inventory is keeping the upward pressure on Prices; although it is difficult to think rising prices can continue much longer. 

The Average Sales Price (using 3 months) for Clark County is now $420,486; which is approximately $35,242 higher than this time last year.

The final charts come from RMLS and show:

Clark County Home Sales Inventory
& Days on Market - April 2020

New Listings fell off the cliff this month when we would expect to see them rocketing up; while Pending Sales tread-water; and Closed Sales retreated slightly. At this point the level of Inventory did not change, and is still at a very low level. 

The second graph shows both the Closed Sales and Average Sales pricing turning in very strong marks, which in turn is reflected in the charts showing rising prices.

Lastly, both Average Days on Market and Median Days on the Market posted lower numbers like we regularly see this time of year.

Thank you for visiting our Real Estate Market report for Clark County WA. Please let us know if you have any questions or need help with your home or condo!

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PS - The real estate market is changing, prices are expected to soften, with loan costs presently at very low levels, keeping this an excellent time to List and Sell Your Property with Our Team; or, at least find out what your property is worth!  We offer a no-cost, no-obligation Clark County WA Real Estate Valuation, and invite you to try it out!

PPS - Looking to buy a property reasonably soon?  Interest rates are still at historically low rates.  You are invited to visit our web-page for Clark County WA Real Estate 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 For Sale | Brush Prairie WA Homes For Sale | Camas WA Homes for Sale | Hockinson WA Homes For Sale | La Center WA Homes for sale | Ridgefield WA Homes for sale | Real Estate for sale in Vancouver Washington | Washougal WA Real Estate | Yacolt WA Homes For Sale | Amboy WA Homes For Sale

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The information and charts in this Clark County WA real estate update (prepared by Vancouver WA Real Estate Sales 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.