February 2015 Posts Another Unseasonably Early Gain for Real Estate in Vancouver!
At the time we prepared our report for last month we could see that the quantity of Pending home sales would likely make February 2015 very strong - and indeed it was! Here are this month's highlights:
- Average Home Sale-Prices are still up strongly, with the 3-Month Moving Average up 11.39% over the prior year; and the 12-Month Moving Average up 9.79% from the year prior.
- The Price Trend Lines show the 3-Month Moving Average failing to meet the 12-Month Moving Average line so far; with the 12-Month trend continuing in the positive direction.
- Approximately 253 Resale Homes were sold in February 2015, which is about 20 (8.6%) more homes than had sold in February 2014.
- REO/Bank Owned property sales were 28 units (11.1% of total); vs 36 in February 2014.
- Short Sale /Pre-Foreclosure property sales were 11 units (4.4% of total); vs 26 in February 2014.
Our custom Charts will now be presented using data from RMLS, showing how the real estate market has performed. The first graphic displays the number of Resale Homes Sold (Excluding New Construction). The simple statistical smoothing technique is used to improve visibility of 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 February 2015
The Vancouver market is the largest real estate 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 February 2015.
Vancouver WA Resale Home Sales - Average Sales Price Trend
With the continuation in Low Interest Rates for Home Loans fueling strong buyer activity, we are now at less than 2 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 level, 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 - You are invited to 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 already off to a great start 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.
Comments(2)