Vancouver's Condo Market in February 2015 is Doing Very Well!
The Real estate Market for Vancouver WA Condos (in some parts of the country called Apartments to Own) are still in the relatively slow season. Results for February 2015 show we will likely continue the positive trend set last year. Here are this month's highlights:
- Condo Average Sales Prices are substantially higher than last year, with the 3-Month Moving Average closing up 14.3% over the prior February; and the 12-Month Moving Average closed up 24.8%
- 36 Resale Condos were sold in February, which is about 10 (38.5%) more condos than in February 2014. Pending Condo Sales increased substantially as well!
- REO/Bank Owned Condo sales were 4 units (11.1% of total); down from 5 (19.2% of total) in February 2014.
- Short Sale /Pre-Foreclosure property sales were 2 units (5.6% of total); compared to 4 (19.2% of total) in February 2014.
Next to review will be our Custom Charts for Vancouver Condos!
Vancouver WA Resale Condo Sales - Units Sold Trend 2015
The Condo market is a sub-component of the overall Vancouver real estate market thus, this trend line will look unique owing to the relatively small number of condo-units sold each month. The 12 month trend-line shows clearly that condo sales have been improving month-over-month from the "bottom" almost 3 years ago.
Continuing on are the results for Average Condo Prices, with the 3-month moving average line (in red) appearing to move around quite wildly. However, the 12-month line (in blue) is showing the longer-term trend taking place for any point in time in the market. Given the popularity of Condos on our website, we expert this up-trend to be continuing.
Vancouver WA Resale Condo Sales - Average Sales Price Trend
The set of chats below show the month-by-month action - through February 2015, for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Condo Sales Inventory & Days on Market Trends
These final 3 Condo charts tell us that although February is typically one of the slower months of the year for Closed Condo Sales, it was not the case this time around!
With 2015 off to an excellent start, the first quarter of the year will be the time for Condo Sellers to get their homes ready to sell; and for Condo Buyers the best condominium bargains will be right now!
PS - Please visit the Vancouver WA Condos For Sale page at our website, where we have made it Easy to search by Neighborhood for Condos, with listings for condos from the entire RMLS. You do not have to Sign-up to view Condos!
PPS - Don't delay with your Condo Selling or Buying Plans - Call Us Soon!
The statistical charts in this report (prepared by Vancouver WA Realtor® John Slocum, our resident statistician) are based on condo sales recorded in the Vancouver MLS system (RMLS), excluding sales of newly constructed condos; 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 sparse-data helps to correctly illustrate the short-term and longer term trends in Vancouver's Condo market.
Disclaimer: as with all 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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