Record Monthly Unit-Sales Plus Record High Prices Drive Real Estate in Clark County WA for October 2020.
We are breaking records all over the map, with ultra-low Active Real Estate Inventory; Mortgage Rates below 3%; with Record levels for both number of Properties Sold and Prices. Here are the key points for this month's report:
- Average-Sales Price jumped again to $476,821 -
a $9k+ month-over-month gain; with the 12-month/long-term
trend line up 11.28% year-over-year; and the 3-Month Moving Average up
17.88% from this time last year;
- The Inventory for Resale Real Estate slipped 0. to finish at 0.7 Month's worth of Supply;
- Approximately 780 Resale Properties were sold/closed, which is about 200
more (34.5%) homes than in 2019; and 22 more than last month;
- REO/Bank Owned property sales were 3 units (0.38% of total); up from
1 (0.17%) in 2019;
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 1 (0.17%) last year.
The Home Loan Mortgage 30-year-fixed loan interest rate (nationwide average)
at month-end, remained below 3% to a monthly average of 2.83% (another All-Time Low!) according to Freddie Mac; compared to
3.69% for October 2019. Rates may be heading up soon, which may be prompting
some of the recent buyer activity.
I have created a custom chart to show Unit-Volume (number of properties sold)
action with short term (in
Red) and
long term (12-month moving average in
Blue) trends:
Clark County Home Sales - Units Sold Trend October 2020With un-seasonally strong Unit-sales hitting another high this month keeps
the upward move alive for the short-term line; while the long-term line keeps moving
steeply upwards.
Currently we are now only 21 property-sales behind last year at this time.
Average Home Sales Prices continue their steep upward climb, both short-term and long-term:
Clark County
Home Sales - Average Sales Price Trend
October 2020New Listings came in rather strong this month but, not strong enough to stop
the slide in Active Inventory. We continue to see real estate related news
nation-wide that many households are moving out of the large cities and looking
for smaller suburban communities like we find in Clark County.
Clark
County's
Average Home Sales Price (using the most recent 3 months) is now $476,821;
which is approximately $72,314 (+17.88%) higher than this time last year.
The
remaining charts for our report come from RMLS and show:
Clark County
Home Sales Inventory
& Days on Market - October 2020
New Listings improved slightly while Pending Sales slipped from last month; with Closed Sales
coming in at the strongest level we've ever seen.
Active Inventory slipped by 0.2 month's worth of supply to a record low level
for resale property.
The second graph shows both Prices for Closed Sales
and Average Listing Price coming in
at their all-time-highest one-month mark!
Finally, the Average Days on Market
actually fell by 9 days which is unusual for this late in the year; while the Median Days on the Market
- remained the same at 7 days / 1-week level now for 4 weeks in a row.
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 property or condo sale or purchase!
PS - The real estate sales 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
Home 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 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 Homes 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 |
Homes 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 Home Sales Agent, John Slocum, 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.
