Unit Sales Hit Higher Mark while Sales Prices Ease for Vancouver WA Condos in November 2020.
Unit-Sales did an about-face and rose modestly this month, keeping the rally alive for this market segment. Prices continued to fall-back although they are at a high level. Here are the key points for this month:
- The Short term Condo Sales Price (3-Month Moving Average) eased almost $10k and is now at $296,796; which is up +7.03% compared to the prior November; and the 12-Month Moving Average is at 11.04% compared to the prior year;
- 69 Resale Condominiums were sold, which is up 21 units compared to November 2019, and 3 more than last month;
- REO/Bank Owned Condominium sales remained at 0 units (0% of total); no change from 0 (0% of total) in November 2019.
- Short Sale /Pre-Foreclosure property sales were 0 units (0 of total); no change from 0 (0% of total) in 2019.
I have prepared the custom graph below to show the Units-Sold trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend November 2020
Last month it looked like the seasonal down-turn was ready to go but wow - this segment caught a second-wind and moved farther upwards! At this point we have caught up and exceeded last year's pace by 8 units, which is 1.39% more.
My next graph is for the Average Sales Price showing the short-term and long-term trends:
My next graph is for the Average Sales Price showing the short-term and long-term trends:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
We continue to see a modest retreat (3 months now) from the peak; with the long-term trend stopping its rise and leveling off. This is a relatively small market segment thus, the "action" we are seeing at the moment is somewhat typical.
The final set of graphs show Unit Sales, Average & Median Prices; and Days on Market results (from RMLS chart-tools):
Vancouver Condo Sales Inventory & Days on Market Trends
Inventory-by-Month shows New Listings and Pending Sales easing in near lock-step. Closed Sales increased from last month, and are at a relatively high level for this time of year. The combined result for this month has the Active Inventory took a hit and fell to 1.1 month's worth.
The middle graph shows the continued slide in the Closed Sales Price; while the New Listings Average Price came in at a much higher level.
The final graph shows both Average Days on the Market remaining the same; while the Median Days on Market fell 3 days, indicating we still have same fairly brisk sales in this market segment.
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Thank you for visiting our Report for Condo sales in Vancouver WA. We'll be glad to answer your questions or comments on this type of home; and would love to assist you in Selling or Buying your Condo!
Like to see more like this? Then you might like:
Home Sales Report Vancouver WA - November 2020
PS - We love to help Condo Owners Sell their home. This market segment is still very popular, and now is a great time to call to get started with a Market Value for your Vancouver WA Condo, and to learn more on how the sales process works in this fast-paced market.
PPS - I also love to help Condominium Buyers! Contact us at your earliest convenience and discuss your interests and timing. We'll be glad to set you up with an Automated Search program in RMLS or, you November visit the Condominiums For Sale in Vancouver WA page at our website, where we have endeavored to make it Easy for you to search by Neighborhood for Condos, with listings for condos from the entire RMLS. Some of the favorite Neighborhood Searches include Condominiums for sale on the Vancouver WA Waterfront; Condominiums for sale in Downtown Vancouver Washington, Vancouver Washington Luxury Condominiums for sale.
The statistical charts for Vancouver WA Condos in this report (prepared by Vancouver WA Condo Specialist Broker 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.
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