Homes For Sale Clark County WA - May 2021 Report

Unit Home Sales Are Many Magnitudes Higher; With Sales Prices Exceeding a 22% Increase for Clark County WA in May 2021.

Unit Sales in early 2020 were hampered by the Government's orders yet, this year we have sold almost 30% more homes year-to-date. Strong demand and a relative shortage of homes for sale is keeping prices rising at a very fast pace. Finally,  Interest rates once again fell below the already low 3.0% mark. Here are this month's key points:  

• Average-Sales Price rose by about $13k finishing up at $518,656; with the 12-month/long-term trend line up 17.12% year-over-year;  and the 3-Month Moving Average up 22.94% from last year; 
   
• The Inventory for Resale Homes finished the month at 0.5 Month's worth of Supply;
   
• Approximately 675 Resale Properties were sold/closed, which is about 211 more (45.5%) homes than in 2020; and 30 more than last month;
   
• REO/Bank Owned property sales were 0 units (0% of total); down from 6 (1.29%) in 2020; 
   
• Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 2 (0.43%) last year.

The Nation-wide average Home Loan Mortgage 30-year-fixed loan interest rate at month-end, fell again slightly to 2.96% according to Freddie Mac; compared to 3.23% for May 2020. With no end yet to the Federal Reserve purchasing Mortgage-Backed Securities (MBS); combined with lessening demand in some parts of the country, we are seeing the benchmark rate falling again.

Below 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 May 2021

This chart is clearly showing we are in a historic "blow-up" market, when the short-term trend would typically be crossing and be above the long-tern trend; however, this year the long-term trend has been rising so quickly the short-term trend has not yet "caught" it!!! Clearly both trends we are now selling more homes than at any previous time in history. Overall the County is now ahead of last years total home sales by 634 homes (or, 29.92%).

My next chart shows the Average Home Sales Prices. Both the short-term line and the long-term trend are in their steepest ever (at least for this multi-year cycle) upward move: 

Clark County Home Sales - Average Sales Price Trend May 2021

With home sales prices rising at a rate exceeding 20% annually; and Wages increasing in the low-single-digit range; many of us are waiting for the "air" to be let out of this bubble.
 
Clark County's Average Home Sales Price (using the most recent 3 months) is now $518,656; which is approximately $96,763 (+22.94%) higher than this time last year.

My remaining charts for this home sales report come from RMLS showing:

Clark County Home Sales Inventory
& Days on Market - May 2021

In the first graph, it shows New Listings easing from last month with a big However, the mark for both months are about as high as seen last year. Pending Sales shot up this month, to the highest level in the past 12 months (and perhaps the highest level ever). Closed Sales continue to rise as expected for this time of year.

The second graph shows Prices for Closed Sales moving strongly to another new-high; and Average Listing Price essentially tying its highest mark.

Finally, the Average Days on Market moved up by 3 days to 17 day. Median Days on the Market rose remained (fourth month in a row) at the 12-month low of four days. Clearly we are in an extremely fast-paced market.

Thank you for visiting our Home Sales Report in 2021 for Clark County Washington. Please let us know if you have any questions or need help with your home or condo sale or purchase!
 

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PS - The home sales market is changing, prices are rising quickly, 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

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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.