Home Sales Ratcheting up Slowly for Vancouver WA in April 2018
April's closed sales slowly improved, while new listings and pending sales posted good results. The main points for last month's Real Estate Sales in Vancouver include:
- 367 Resale Homes were sold in April 2018, which is 22 more (+6.4%) homes than were sold in April 2017.
- The 3-Month Moving Average Price Trend Line is 12.17% higher than the prior year; with the 12-Month Moving Average now up 10.24%.
- Short Sale /Pre-Foreclosure property sales were 0 unit (0% of total); down from April 2017's 4 (1.2% of total).
- REO/Bank Owned home sales were 4 units (1.1% of total); compared to 3 units in April 2017 (0.9% of total).
- The Inventory for Resale Homes moved up again slightly to 1.2 Months of Supply.
With relatively strong Pending sales for the past two months, we expect closed sales for May to be much higher than we've seen so far this year.
Freddie Mac's report on the history of the 30 year Interest rate for home loans came in at an average of 4.47% for the month, which is again up from last month, and higher than last year's 4.05% rate.
The Unit-volume trends, shown below, are once again showing we are in the stronger part of the Spring sales cycle, while the long-term trend (in blue) is showing we are at a "plateau" for unit-volume - a trend that is not likely to change until more new homes come on-line and are subsequently re-sold.
Vancouver WA Resale Home Sales - Units Sold Trend April 2018
With unemployment statistics quite low in our area, the demand for homes to purchase is still strong, as evidenced by the many multiple-offer situations our customers have experienced the past many months. Even with interest rates rising some, historically we are at still very, very low rate levels.
The chart below clearly points to continued rising prices for the short-term trend (in red - a 3-month simple moving average); and for the long-run as well.
Vancouver WA Resale Home Sales - Average Sales Price Trend
In April 2018 there were 16 properties (4.4%) that closed at $200,000 or less when sold; with 26 (7.1%) sold that were priced $200,000 to $250,000. In comparison with the 2017-April measurement, 81 or, 23.5% of the sales were at $250k or below; while this year that reading is now at 11.4%.
Our final graphs are from the Regional Multiple Listing Service, showing the real estate market results for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Home Sales Inventory & Days on Market Trends
The first graph shows New Listings, Pending Sales holding somewhat steady, while Closed Sales moved up slightly.
The second chart shows average new-listing-prices sustaining the higher average-level, with closed sales prices catching up.
Finally, the Average Days on the Market fell by about Half, while the Median remained at about a Week - this market has truly heated up!
Thank you for visiting our real estate market report for Vancouver Washington. Please contact us with any questions, or requests for assistance with your real estate needs.
PS - We love to Sell Real Estate in Vancouver and Clark County. You in the market to sell your home? - the first step to take is to ask us to find out what your home will Sell For. We'll prepare a confidential Market Analysis and Valuation, and a road-map for the Home Selling Process. Give us a Call - we'd love to help you out!
PPS - Home Shopping or, looking to right-size to another Home or Condo? We wouldn't have a real estate market if there weren't home buyers, and we love to help Home Buyers! As a part of our service we make it ease to Search all the available Homes for sale in Vancouver Washington or, separately Search all the available 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 is Not Required but recommended as you can Save your own custom search!
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.
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