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Vancouver WA Condos and Townhomes | Market Report for August 2010

By John Slocum

Real Estate Agent with Premiere Property Group, LLC - Vancouver Washington 88349

October 01, 2010 03:08 AM

Vancouver WA Condos For Sale | Another Slow Condo Sales Month For August 2010

Condo and Townhome Sales for Vancouver in July 2010 took quite a tumble so, earlier in August we logged into the Vancouver MLS for Vancouver WA Condos and Townhomes to obtain a quick update of what happened Condo and Townhome wise within the confines of Vancouver, in Clark County Washington. Here is what we have to report:

Vancouver WA Condo Real Estate Market Report by REMAX John Slocum

From this quick view we see 38.3 months of Inventory (divide total Active by total Sold), with the distressed categories (Short Sales + Bank Owned) dominating the sales. We are also seeing a continued slowing of sales this mid-summer time owing to the expiration of the tax credit incentive program, and the typical vacation season.

So What Is It Going To Take to get Condo Sales Moving Again? Beyond the improvement in the national and local economy, we see the need to improve the financing availability for FHA loans. More and more Vancouver Condominiums are now approved and should start seeing sales. We are also experiencing more and more in-migration of retirees and executives, both groups that may not know the area well, and may prefer a home with minimal exterior maintenance requirements.

If you have other ideas on the Condo Recovery scene we welcome your comments!

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Definitions:
1) 3rd Party = the sales contract requires the approval of a third party; and includes Short-Sales, Trust Sales, Relocation Company sales, etc.
2) Pre-Foreclosures = aka Short-Sales are homes where the lending bank(s) agrees to take less, allowing a sales transaction to take place.
3) Foreclosures = aka REO's and Bank Owned Homes, already Foreclosed by the Lender(s).
4) PENDING = listed homes that have been marked as under contract by the listing agent during the past 30 days.
5) SOLD = listed homes that have been marked as closed sales by the listing agent in the past 30 days. Note: some of these sold homes may have been "pending sales" for far more than 30 days!

Disclaimer: this information is drawn using custom search parameters from the predominant MLS system covering Vancouver Washington and is not guaranteed to be accurate.

Current Vancouver WA Real Estate Market Reports:

Previous Vancouver WA Real Estate Market Reports:

The above information was provided by John Slocum and Kathryn Alexander, recognized as one of the top teams at REMAX Vancouver WA. We hope you enjoy the information in our posts, including videos on real estate and Living in Vancouver Washington and the rest of Clark County.

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Vancouver WA Real Estate: Visit ClarkCountyExpert.com to explore real estate in Vancouver Washington!