Home Sales Show an Upward Move this Month, While Very Low Inventory Keeps the Move Moderate for Vancouver Washington in February 2018
This month posted an increase in closed sales over February 2017. Highlights for February 2018 Vancouver WA Real Estate Sales include:
- 291 Resale Homes were sold in February 2018, which is 19 more (7%) homes than were sold in February 2017.
- The 3-Month Moving Average Price Trend Line is 9.61% higher than the prior year; with the 12-Month Moving Average now up 10.64%.
- Short Sale /Pre-Foreclosure property sales were 2 unit (0.7% of total); down from February 2017's 3 (1.1% of total).
- REO/Bank Owned home sales were 3 units (1.03% of total); compared to 12 units in February 2017 (4.4% of total).
- The Inventory for Resale Homes remained at the low, low 0.8 Months of Supply!
Closed Sales are up 19 units from last month however, Pending sales are down 30.
Freddie Mac reports the 30 year Interest rate for home loans came in at an average of 4.33% for the month, which is higher than last month's, and higher than last year's 4.17%.
Continuing on we have Unit-volume trends are charted in our custom chart below, with the Short Term (3-months combined - red line) now well below the Long-term (blue) trend line, and nearing its bottom for the cycle.
Vancouver WA Resale Home Sales - Units Sold Trend February 2018
With such persistent low Active Inventory in the Vancouver market, it is clearly impacting the quantity of homes (units) that can be sold. Thus, it is not wonder the low-point for 2018 will be lower than the previous two years as the trend-line is showing. We are also seeing a gradual lowering of the long-term trend-line as well.
The Price Trend chart (below) has continued its pull-back such that it has pierced and gone below the long-term trend - a condition we believe is only temporary; while the long term trend has not meaningfully changed.
Vancouver WA Resale Home Sales - Average Sales Price Trend
In February 2018 there were 17 properties (5.8%) that closed at $200,000 or less when sold; with 34 (11.6%) sold that were priced $200,000 to $250,000. In comparison with the 2017-February measurement, 107 or, 39.48% of the sales were at $250k or below; while this year that reading is now at 17.46%.
The last charts we have are from the Regional Multiple Listing Service, showing 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, New Listings and Closed Sales increased nicely; while Pending Sales declined.
The second chart shows average new-listing-prices remained at a high level similar to January; which will possibly translate into higher closed sales prices in the months ahead.
Finally, both the Average Days on Market and the Median both increased, which can happen in the low-inventory situation we have, as the "older listings" end up getting sold!
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 with your real estate needs.
PS - home sales for Vancouver WA will favor Sellers for a few more quarters to come in 2018. 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 Vancouver WA Home's Current Valuation Analysis.
PPS - Home Shopping or, looking to right-size to a Home or Condo? 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 for sale; The Heights Homes; Felida Home for sale; Fishers Landing Homes for sale; Hazel Dell / Lakeshore Homes for sale; Minnehaha / Walnut Grove Homes; and Salmon Creek Homes for sale.
We also have Category searches including: Luxury Homes Vancouver WA, 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 Vancouver WA Listing Real Estate Broker, 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(1)