Vancouver's Condo Market in April 2015 is Racing Ahead!
Vancouver's Market for Condos for sale (occasionally called Apartments to Own) are racing ahead of last year in Unit-Sales-Volume. Here are this month's highlights:
- Condo Average Sales Prices are substantially higher, with the 3-Month Moving Average closing up 1.94% over the prior April; and the 12-Month Moving Average closed up 18.7% - this on top of substantial gains in 2014!
- 61 Resale Condos were sold in April, which is about 16 (35.5%) more condos than in April 2014!
- REO/Bank Owned Condo sales were 6 units (9.8% of total); down from 8 (17.8% of total) in April 2014.
- Short Sale /Pre-Foreclosure property sales were 3 units (4.9% of total); compared to 3 (6.7% of total) in April 2014.
Now to our Custom Charts for Vancouver Condos!
Vancouver WA Resale Condo Sales - Units Sold Trend April 2015
The Vancouver WA Condo market is a sub-component of the overall real estate market in Clark County WA thus, the trend line will look unique owing to the statistically smaller number of units sold each month. The 12 month trend-line is currently showing a Strong Up-Trend in Unit-Sales!!!
Continuing on we have the results for Average Condo Prices, with the 3-month moving average line (in red) appearing to move downward substantially during the most-recent Fall and Winter Quarters; and now moving upward again. However, the 12-month line (in blue) is showing the longer-term trend taking place for any point in time in the market, reflecting more of a pause in price change for the Fall and Winter, and now a similar resumption in the upward price-change trend. Given the increasing popularity of Condo searches on our website, we expect this up-trend to be continuing.
Vancouver WA Resale Condo Sales - Average Sales Price Trend
The set of chats below from RMLS show the month-by-month action - through April 2015, for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Condo Sales Inventory & Days on Market Trends
These final 3 Condo confirm that this April's performance has been extremely strong! RMLS is showing the Inventory level for Vancouver Condos at 1.5 months - which is in an extreme Seller's Market level. Combine that with the Median Days on market just above 21, this solidifies this market segment in favor of the Seller.
Thank you for learning more about the Condo Market in the Vancouver Washington market area. Please feel free to contact us with any questions or comments!
PS - You are invited visit the Condos For Sale in Vancouver WA 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 wait any longer 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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