Vancouver's Real Estate in January 2014 Posts Positive Gains in Units Sold and Price.
2014's first month made a solid turn-around from the relatively sluggish activity of the prior quarter, with these highlights:
- Average Home Sale-Prices Were Up for both the 3-Month Moving Average up 6.16% over the prior year; and the 12-Month Moving Average went up 12.34% from the prior January.
- The Price Trend Lines were Up for both the 3-Month Moving Average, and the 12-Month Moving Average.
- Approximately 186 Resale Homes were sold in January, which is about 3 more homes than had sold in January 2013.
- REO/Bank Owned property sales were 37 units (19.9% of total); up from 25 (13.7%) in January 2013.
- Short Sale /Pre-Foreclosure property sales were 28 units (15.1% of total); down from 44 (24.0%) in January 2013.
As we pointed out in last month's Vancouver Annual Real Estate Update the 4th Quarter of the year is traditionally slower, and combined with the economic uncertainty by the shut-down of the US government, caused Clark County and Vancouver to see the first significant Pause in rising prices for this phase of the recovering Economy.
Now for our Charts! The first chart displays the number of Resale Homes Sold (Excludes New Construction). We use simple statistical smoothing techniques, to show a short term trend line equaling the 3-month Moving Average; and the longer term trend line equaling the 12-month Moving Average.
Vancouver WA Resale Home Sales - Units Sold Trend Jan. 2014Vancouver is the largest city in Clark County, making this trend line look quite a bit like the one for the County.
Next in line is the display for the current action on Home Prices. This month Clark County's overall price trend-lines were flat, while Vancouver's rose!
Vancouver WA Resale Home Sales - Average Sales Price Trend
We surmise that part of the reason for Vancouver's increase in average sales price is the relatively very low inventory (home supply) condition we've seen recently.
The final series of chats below show the month-by-month action for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Home Sales Inventory & Days on Market Trends
These final 3 charts show the market behavior around the beginning of the year, with Days on Market higher than the summer time but, lower than they were the same time last year.
We also notice that the new listings coming on the market are "pushing" the price envelope upward, visible by January's average list price being much higher than at any time in the previous 12 months.
Finally, the surge of new listings is a welcome sign, as this will provide more options for buyers and moderate the increase in sales prices to a more reasonable level than they otherwise would have been.
PS - Visit the Home Search page for Vancouver WA on our website, where it is Easy to search by Neighborhood or by Category, with property and real estate listings from the entire RMLS. Sign-up Not Required!
PPS -2014 will be a big year for the real estate market. Don't delay with your Home Selling or Buying Plans - Call Us Soon!
The charts in this report (prepared by John Slocum Realtor®, our resident statistician) are based on home sales recorded in the Vancouver 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. We deem the data and reports reliable but not guaranteed.
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