Super-Strong Monthly Home-Sales Continue While Sales Prices Ease Slightly for Clark County WA in November 2020.
With an insanely low level of active Inventory for resale homes, combined with unusually strong demand late in the season keeps prices high with choices few for home buyers. Here are this month's key points:
- Average-Sales Price eased by about $8k finishing up at $468,703; with the 12-month/long-term
trend line up 11.67% year-over-year; and the 3-Month Moving Average up
15.99% from this time last year;
- The Inventory for Resale Homes is still tanking and finished at 0.6 Month's worth of Supply;
- Approximately 653 Resale Properties were sold/closed, which is about 109
more (20.04%) homes than in 2019; although 141 fewer than last month;
- REO/Bank Owned property sales were 1 units (0.15% of total); down from
5 (0.92%) in 2019;
- Short Sale /Pre-Foreclosure property sales were 1 units (0.15% of total); no change from 1 (0.18%) last year.
Again the nation's Home Loan Mortgage 30-year-fixed loan interest rate (nationwide average)
at month-end, remained below 3% settling at a monthly average of 2.77% (another All-Time Low!) according to Freddie Mac; compared to
3.70% for November 2019. With inflation starting to creep in, it is likely we'll
see rates starting to go up - although when that happens is anyone's guess.
Just below I have created a custom chart to show Home-Sales Unit-Volume (number of
homes sold)
with short term (in
Red) and
long term (12-month moving average in
Blue) trends:
Clark County Home Sales - Units Sold Trend November 2020With incredibly strong late-season home sales this year the short-term line
is both at an all-time high, and only slowly "rolling over" to the expected
upcoming winter decline in activity. The long-term line continues to move upwards
although it is below its peak seen a few years ago.
Overall the County is now ahead of last years total home sales by 108 homes (or,
1.72%).
This month the Average Home Sales Prices took a slight pause (declining about
$8k) in the near-term;
while the long-term trend is still in a positive direction:
Clark County
Home Sales - Average Sales Price Trend
November 2020We are clearly in an uncommon situation with continued stronger-than-usual
sales month-over-month. It is reasonable to expect that Prices will continue to
have strong support will remain for many more months to come; absent another
negative-disruption in the underlying Economy.
Clark
County's
Average Home Sales Price (using the most recent 3 months) is now $468,703;
which is approximately $64,603 (+15.99%) higher than this time last year.
The
remaining charts for our home sales report come from RMLS and show:
Clark County
Home Sales Inventory
& Days on Market - November 2020
New Listings and Pending Sales are both trending lower, although still
remain at a higher overall level than seen in previous years. Closed Sales
likewise are "slowing" but are at a much higher level relative to previous
seasons.
With Inventory at 0.6 month's of supply we are in an extremely strong Seller's
Market!
The second graph shows Prices for Closed Sales
and Average Listing Price remaining in very high territory.
Finally, the Average Days on Market rose by
about a week; while the Median Days on the Market
rose only about one day's worth. Clearly we're still in a very fast-paced
housing market.
Thank you for visiting our
Home Sales Report for 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 home 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 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 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 Realtor, 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.
