Inventory Improving Slightly Amidst Brisk Home Sales For Vancouver Washington
As we enter the typically more active time of the real estate year, the tight-inventory of available homes is having a strong impact. The number of units-sold is down significantly, while the strong pressure remains on home prices. Highlights for Vancouver WA homes for sale in April 2017 include:
- 330 Resale Homes were sold in April 2017, which is 76 fewer (-18.7%) homes than were sold in April 2016.
- The 3-Month Moving Average Price Trend Line is now at 11.31% higher than the prior year; with the 12-Month Moving Average now up 11.54%.
- Short Sale /Pre-Foreclosure property sales were 4 units (1.2% of total); down from April 2016's 9 (2.2% of total).
- REO/Bank Owned home sales were 3 units (0.9% of total); compared to 20 units in April 2016 (4.9% of total).
- The Inventory for Resale Homes has edged up but is still Extremely Low at 1.1 Months of Supply!
We have already hit the very brisk part of the sales year with this month's median days on market (DOM - see far below) dropping below 10 days. This is putting incredible pressure on home shoppers as they compete with each other for the relatively few active listings, most especially in the range near the current Average Price for Vancouver.
The first chart (below) shows April's unit-volume trends, with the Short Term (3-months combined - red line) Trend dropping lower than it did in 2016, and having a slow upward-start for this year.
Vancouver WA Resale Home Sales - Units Sold Trend April 2017
The long-term trend line (12-month moving average) is slowly drifting lower, as there just haven't been enough homes sold to keep it moving up. We expect this measurement to remain in a narrow range for the next many months.
The next chart shows the Price Trend for Home Sales. The short-term line is still rising but has not yet exceeded last year's peak. With buyer-demand still strong, this measurement still has a ways to go on the up-side.
Vancouver WA Resale Home Sales - Average Sales Price Trend
In April 2017 there were 24 properties (7.3%) that closed at $200,000 or less when sold; with 54 (16.4%) sold that were priced $200,000 to $250,000. In comparison with the 2016-April measurement, 174 or, 42.9% of the sales were at $250k or below; while this year that reading is now at 23.7%.
The last charts (from the Regional Multiple Listing Service) show the real estate market action for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Home Sales Inventory & Days on Market Trends
In the first chart we see the gap between Pending Sales and New Listings as narrower than it was last year; along with total Closed Sales lower than in March.
The second chart is continuing to show the upward pressure on prices in the near term reflected in the average listed price.
Finally, again the Days on Market - both Average and Median dropped substantially. Truly another strong Seller's Market Season
Thank you for visiting and reading our home sales and real estate market report for Vancouver Washington. Please contact us with any questions, or requests for assistance.
PS - 2017 's home sales for Vancouver WA will favor Sellers for many months to come. If you are planning on Selling or, just want to know what your home is worth - we invite you to try our no-cost, no-obligation What Is My Home Worth Analysis for your Vancouver WA Home. We also have on-line form to request your Home Market Valuation. Either way we trust you won't delay!
PPS - Home or Condo Shopping? Now is a great time to visit our Homes For Sale Vancouver WA page, or the separate page for Condos for sale in Vancouver WA. We've put much custom work in to make it Easy for You to search by Neighborhood or by Category, with Homes and real estate listings from the entire RMLS. Sign-up Not Required!
Some of the Popular Searches include: Cascade Park Homes; The Heights Homes; Felida Homes; Fishers Landing Homes; Hazel Dell / Lakeshore Homes; Minnehaha / Walnut Grove Homes; and Salmon Creek Homes.
We also have Category searches including: Acreage Homes Vancouver WA; Listing Real Estate Agent Vancouver WA; One-Level Ranch Homes for sale in Vancouver WA; Fairway Village Homes For Sale, Waterfront Condos For Sale.
This report and custom charts (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 helps illustrate the short-term and longer term trends in Vancouver WA'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.
Comments(0)