Unit Home Sales Continue to Surge; With Sales Prices Powering to a New High for Clark County WA in March 2021.
New Listings and Pending Sales have jumped up in Lock-Step (i.e. they are being snapped up quickly) with Active Inventory remaining in an extremely low level. Interest rates for home financing are still low but in the low 3% range. Here are this month's key points:
- Average-Sales Price rose by about $11k finishing up at $496,695; with the 12-month/long-term
trend line up 14.3% year-over-year; and the 3-Month Moving Average up
19.02% from last year;
- The Inventory for Resale Homes finished the month at 0.4 Month's worth of Supply;
- Approximately 548 Resale Properties were sold/closed, which is about 89
more (19.4%) homes than in 2020; and 104 more than last month;
- REO/Bank Owned property sales were 3 units (0.55% of total); down from
4 (0.87%) in 2020;
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 3 (0.65%) last year.
The Nation-wide average Home Loan Mortgage 30-year-fixed loan interest rate at month-end, rose
slightly to 3.08% according to Freddie Mac; compared to
3.45% for March 2020. Although the rate has been rising modestly the past month,
there are current signs of the rates falling again.
Next up is my custom chart for 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 March 2021Given the month of the year the near-term trend is at the bottom or very near
so, and clearly at a much higher level than it was at this time last year. The Long-term trend is
still rising and breaking into new-high territory.
Overall the County is now ahead of last years total home sales by 204 homes (or,
16.7%).
My next chart shows the Average Home Sales Prices. The short-term
line finished its Pause and has powered up to a new High. The long-term trend is
also at a new High as it continues its upward move:
Clark County
Home Sales - Average Sales Price Trend
March 2021With the steepness and duration of the recent run-up in prices, it is
becoming harder and harder to imagine this can continue much longer; as we know
wages have not been rising at the same pace - and wages are what pays for a
home.
Clark
County's
Average Home Sales Price (using the most recent 3 months) is now $496,695;
which is approximately $79,369 (+19.02%) higher than this time last year.
These
final charts for our home sales report come from RMLS showing:
Clark County
Home Sales Inventory
& Days on Market - March 2021
With the rapid pace of Sales, the rise in Pending Sales is very closely
matching the rise in New Listings! Closed Sales
have also posted a strong, higher mark this month.
Inventory at 0.4 month's of supply is making it tough for Home Buyers, to be
sure.
The second graph shows Prices for Closed Sales at another new-high;
and Average Listing Price at its third-highest mark.
Finally, the Average Days on Market
fell by 2 days to 23 days - which is the lowest mark in the past 12 months. Median
Days on the Market rose remained at the 12-month low of four days. Both of these are
at an extremely low
level (hyper-fast market) for this or any other time of year.
Thank you for viewing
my
Home Sales Report in 2021 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 NEAR-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.
