The Seasonal Turning-Point may have Arrived as Unit-Home-Sales and Home-Sales-Prices ease for Battle Ground WA in November 2020
Pending Sales held steady this month while New Listings and Closed Sales slid. Prices eased slightly, which is a big change from its recent strong and rapid run-up. Here are the key points for this month:
- The 3-Month Moving Average Sales Price eased by about $2,500 and is now $503,621 which is 20.49% higher than last year; with the 12-Month Moving Average now at $467,781 or, 13.38% compared to last year.
- The Inventory level for Resale Homes fell another 0.2 to end at 0.5 Months of Supply.
- Approximately 40 Pre-owned Homes closed, compared to 59 Sold in 2019; a decrease of 19 homes (-32.2%).
- REO/Bank Owned property sales were 0 units (0% of total); no change from 0 (0%) for the same month in 2019.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); compared to 0 (0%) in November 2019.
The Average Sales Price for Battle Ground eased back slightly (-$2,453) although still very high at $503,621 this month; and leads Vancouver's price-level by $79,222!
The first graph I've prepared below shows the trend for Average Number of Pre-owned Homes Sold; with the short term (3-months-trend shown in red) and long term (12-months - blue) trend-line:
We are now seeing a seasonal slowing in unit-sales, and are 2.47% below last year's number of sales. The long-term trend-line is also responding to the slowing by moving in a negative direction. With prices having risen so high and so rapidly, with such low inventory it seems reasonable to expect the number of unit sales will be constrained at this point, in addition to the typical seasonal slowness.
Now we have the graph for the Average Sales price trend:
Both the short-term and long-term trends have made strong upward moves this year, and now the short-term trend is showing near-term weakness with a small pull-back. With extremely low Active Inventory; Record Low, and falling home loan rates, this area may be showing the strongest price move by exceeding 20% this month.
Our remaining graphs come from RMLS for Battle Ground WA showing:
Pending Home Sales remained as strong as lost month; while New Listings and Closed Sales both fell. The double-whammy of strong pending sales and weak new listings has the Inventory at the extremely low level of 0.5 month's of supply.
The Average Price for New Listings came in very strong and high; while Closed sales eased.
Lastly, both Average Days on Market and Median Days on Market rose by a week. Even though this shows slowing, overall this was still a very fast-pace, especially for this time of year.
Thank you for viewing our home sales report for Battle Ground Washington. We are glad to answer any questions you have on this market area!
PS - We Love to List and Sell Homes in Battle Ground! If you are thinking of selling Give us a Shout out! The first step is to give us a Call (e-mail or Text is fine as well) and have us prepare a Current Battle Ground WA Home Sale Valuation at no-cost, no-obligation to learn your property's current value and how the listing and sales process works.
PPS - We also love to help Property Buyers looking at Battle Ground WA Homes For Sale . Our website is free to use, and provides several category searches, with property listings from the entire RMLS. Battle Ground WA homes still represent a great value in 2020. When you are ready to take the next step in purchasing a home or property, Give us a Call!
NOTE: Some of the popular Search Pages on our site include: Battle Ground Acreage Homes; Battle Ground Luxury Homes; Battle Ground One-Level Homes .
The Battle Ground Washington Home Sales informational charts used in this report (prepared by Realtor® John Slocum, our resident statistician) are based on home sales recorded in the Battle Ground 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 the Battle Ground WA 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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