January 2015 Posts Astounding Results for Real Estate in Vancouver WA!
Our reports for the Year 2014 showed that the 4th Quarter was much better than the same quarter in 2013 however, we had no idea that January would turn in results far better than a typical early month in the year! Here are this month's highlights:
- Average Home Sale-Prices are still up in the double-digit range, with the 3-Month Moving Average up 12.67% over the prior year; and the 12-Month Moving Average went up 10.42% from the year prior.
- The Price Trend Lines show the 3-Month Moving Average failing to drop below the 12-Month Moving Average line so far; with the 12-Month trend continuing in the positive direction.
- Approximately 244 Resale Homes were sold in 2015, which is about 41 (20.2%) more homes than had sold in January 2014.
- REO/Bank Owned property sales were 24 units (9.8% of total); vs 37 in January 2013.
- Short Sale /Pre-Foreclosure property sales were 16 units (6.6% of total); vs 29 in January 2013.
We'll next present our custom Charts using data from RMLS to show how the real estate market has behaved. The first one displays the number of Resale Homes Sold (Excluding New Construction). A simple statistical smoothing technique is used to improve confidence in the trend, with 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 January 2015
The Vancouver market covers the largest reporting area in Clark County WA; thus, this trend line will look quite a bit like the one for the County.
The next chart in line displays the action on Home Prices in January 2015.
Vancouver WA Resale Home Sales - Average Sales Price Trend
One of the BIG reasons for Vancouver's increase in average sales price is the relatively very low inventory (home supply) condition we've seen through the year, ending at less than 3 months supply for Resale Homes!
This final series of chats we present 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
With the Inventory of available homes for sale at an incredibly low lewel, and with Home Loan Interest rates at historic lows; it is our opinion 2015 will continue the same positive trends, at least in the near term
PS - Please 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 -2015 is shaping up to be a big year for the real estate market. Don't delay with your Home Selling or Buying Plans - Call Us Today!
The statistical charts presented in this report (prepared by John Slocum Realtor®, our resident statistician) are based on home sales posted 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 better illustrates the short-term and longer term trends in Vancouver WA's real estate market.
Disclaimer: we do our best to provide the best analysis and representation of the market at the time the data was acquired. We deem the data and reports reliable but not guaranteed.
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