Unit-Sales Ease while Prices Continue to Rocket Upward for Clark County WA in August 2020.
The convergence of Low Active Inventory and Buyer Demand that had been delayed from prior months is squeezing sales prices strongly upwards. Unit Sales eased slightly - most likely because there are fewer listings to choose from! Here are key points for this month:
- Average-Sales Price jumped up to $456,571 -
an $17k+ month-over-month gain; with the 12-month/long-term
trend line up 12.15% year-over-year; and the 3-Month Moving Average up
7.77% from this time last year;
- The Inventory for Resale Real Estate slipped 0.2 to finish at 1.0 Month's worth of Supply;
- Approximately 630 Resale Properties were sold/closed, which is about 114
fewer (-15.32%) homes than in 2019; and 132 fewer than last month;
- REO/Bank Owned property sales were 3 units (0.47% of total); down from
5 (0.66%) in 2019;
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 3 (0.39%) last year.
The Home Loan Mortgage 30-year-fixed loan interest rate (nationwide average)
at month-end, fell below 3% to a monthly average of 2.94% (another All-Time Low!) according to Freddie Mac; compared to
3.62% for August 2019. It is expected that rates will remain low for the near
future.
I have prepared an updated custom chart showing Unit-Volume (number of properties sold)
action with short term (in
Red) and
long term (12-month moving average in
Blue) trends shown below:
Clark County Home Sales - Units Sold Trend August 2020With relatively strong Unit-sales we still have an upward move for the
short-term line; and even have a slight upwards move for the long-term line.
However, we are still 9.22% below last year for year-to-date closed sales.
The next chart shows Average Home Sales Price trend rocketing upwards in the near-term;
with the long-term line steepening its slope also:
Clark County
Home Sales - Average Sales Price Trend
August 2020New Listings are not nearly enough to meet the demand by home buyers. We also
are seeing the trend nation-wide for people leaving the big cities for suburban
counties such as Clark County. That, and with the low interest rates, we expect
the price trend to be strongly upwards for the near term.
Clark
County's
Average Home Sales Price (using the most recent 3 months) is now $456,571;
which is approximately $49,460 (+12.15%) higher than this time last year.
The
remaining graphs for our report come from RMLS and show:
Clark County
Home Sales Inventory
& Days on Market - August 2020
New Listings eased off of last month's high for the year; while Pending
Sales came in at their highest level for the year. Closed Sales also eased off
but still came in at about the second-highest level for the past twelve months.
The combined result was Inventory shrank by 0.2 month's worth of supply.
The second graph shows Prices for Closed Sales
again hitting their highest one-month mark, this time by a wide-margin over last
month which was the previous high. Average Listing Price came in quite high as
well, although not the highest level ever..
Finally, the Average Days on Market
fell by several days; while the Median Days on the Market
- already at a low level - remained the same. Both are in the expected
Summer season range.
Thank you for visiting our
report for real estate Sales in Clark
County Washington. Please let me know if
you have any questions or need help with your home or condo sale or purchase!
PS - The real estate 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 Property 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 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
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.
