Home Sales Report Clark County WA - May 2020

Pending Unit-Home Sales and New Listings Perk-Up with While Prices Keep Rising for Clark County WA in May 2020.

Two months into the impacts of the government response to the virus, Closed Sales remained "stale" while New Listings and Pending Sales picked up this month. Prices have moderated their rise. Here are the highlights for this month's report: 

• Average-Sales Price moved up to $422,630 - an all-time high one more time, with the 12-month/long-term trend line up 4.47% year-over-year;  and the 3-Month Moving Average up 7.16% from this time last year; 
   
• The Inventory for Resale Real Estate moved down slightly to a super low 1.1 Month level of Supply;
   
• Approximately 445 Resale Properties were sold/closed, which is about 183 fewer (-29.14%) homes than in 2019; and 12 more than last month;
   
• REO/Bank Owned property sales were 5 units (1.12% of total); up from 4 (0.64%) in 2019; 
   
• Short Sale /Pre-Foreclosure property sales were 2 unit (0.45% of total); no change from 2 (0.32%) in 2019.

The Home Loan Mortgage 30-year-fixed loan interest rate (nationwide average) at month-end, fell to 3.23% (an All-Time Low!) according to Freddie Mac; compared to 4.07% for May 2019. Now in a territory challenged to not go higher by world-wide events, rates will likely remain low through this summer.

Next are the custom chart I have prepared 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 May 2020

This season we see Unit-sales moving upwards at a slower pace than what we typically see. With the lower Pending sales currently we expect the short-term trend to be weak; with the long-term trend continuing to fall.   

My next chart covers the changes in the Average Home Sales Price, with the current and past Home-Sales-Price results for both short-term and long-term: 

Clark County Home Sales - Average Sales Price Trend May 2020

Price Trends are still Rising moderately; which is reasonable to expect with a much small number of new listings. We'll be keeping a close eye on this trend, as there is the possibility that we'll see a surge of new listings once the State relaxes its rules on Isolation related to the virus.
 
The Average Sales Price (using 3 months) for Clark County is now $422,630; which is approximately $28,243 higher than this time last year.

The final charts come from RMLS and show:

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

New Listings and Pending Sales both moved up nicely this month in near lock-step; while Closed Sales moved up a small amount. Inventory actually shrank slightly as we don't have nearly the quantity of Active listings in the market that we usually have had in the most recent years. 

The second graph shows both the Closed Sales and Average Sales pricing coming in quite strong - again confirmation of action in a low-inventory real estate market.

Finally, the Average Days on Market remained about the same; while the Median Days on the Market rose slightly. Both are in the range of what we've experience in recent past years.

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

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PS - The home sale market is changing, prices are still rising, with loan costs presently at RECORD 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 Home Valuation, and invite you to try it out!

PPS - Looking to buy a home or property reasonably soon?  Interest rates are still at historically 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 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.