Modest Rebound Condo Sales for Vancouver WA in November 2017!
This month we were able to post a modest increase in closed sales over last month's relatively low tally. Inventory nudged up slightly to 1.2 Months, as we are clearly in a seller's market. Here are this month's highlights:
- Condo Sales Prices made another jump-up in their climb, with the 3-Month Moving Average now at $244,924 closing up 17.64% over the prior November; and the 12-Month Moving Average closed up 10.07% from the prior year;
- 50 Resale Condos were sold in November, which is no change (0%) from November 2016;
- REO/Bank Owned Condo sales were 0 units (0% of total); down from 1 (2.0% of total) in November 2016.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 1 (2.0% of total) in 2016.
We'll continue our November report with our Custom Condo Charts shown below:
Vancouver WA Resale Condo Sales - Units Sold Trend November 2017
This month the 3-month trend line for unit-sales is showing the typical downward run for this time of year. With such strong sales in the summer months, this year's move only appears to be exceptionally strong. The 12-month trend is actually showing a slight wiggle in the upward direction, reflecting some of the rebound this month.
Vancouver WA Resale Condo Sales - Average Sales Price Trend
The short-term price trend decided to move upward, which is atypical for this time of year but, not necessarily so in a strong seller's market. We'll want to keep a watch on this as it may portend an early and strong sales season in 2018.
The final set of graphs show the Unit Sales, Average & Median Prices; and Days on Market information charted below (from RMLS chart-tools):
Vancouver Condo Sales Inventory & Days on Market Trends
The first chart - Inventory-by-Month, shows the bump-up in Closed Sales from last month, with the New Listings and Pending Sales at a roughly 40-units-per-month level.
The second graph shows the higher closed sales prices and much higher average list prices for this month.
Finally, both Average Days on Market and the Median Days on market rose slightly - but still evidence of a relatively brisk market.
Thank you for visiting and reading our report on the Vancouver WA Condo Market in November 2017. We look forward to your questions or comments; and are glad we can be of assistance!
PS - Now is a great time to get going with your 2018 Condo Selling or Buying Plans - Call Us Soon and we'll give you our best advice! We also offer a no-cost, no-obligation Vancouver WA Condo Market Valuation, and invite you to try it out!
PPS - You are invited to 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. Neighborhood Searches include Waterfront Condos for sale; Downtown Condos for sale, Luxury Condos for sale. You do not have to Sign-up to view Condominiums and Townhomes!
The statistical charts for Vancouver WA Condos in this report (prepared by Vancouver WA Condo Listing 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. The "smoothing" of the relatively sparse-data helps to better illustrate the short-term and longer term trends in Vancouver's Condominium 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.
Comments(0)