Home Sales Prices hovered near their All-time High; while Unit-Home-Sales posted very strong results for Vancouver WA in January 2021.
Homes for Sale in Vancouver WA is clearly still in a strong Seller's Market, with this month's numbers coming very strong this time of year. Active Inventory is now almost non-existent; and Home Loan rates have remained below 3%; on a combined basis this is keeping this market tough to navigate for home shoppers. Here are this month's highlights:
- 276 Resale Homes closed this month, which is 28 more ( 1.3%) compared to the same month last year; although 146 fewer than last month.
- The 3-Month Moving Average Price Trend moved up slightly from last month, and is now at $424,916, with a year-over-year gain of 13.65% ; with the 12-Month Moving Average at 11.50%.
- Short Sale /Pre-Foreclosure property sales were at 0 units (0% of total); down from 2 in January 2020 (0.81% of total).
- REO/Bank Owned home sales were 2 units (0.72% of total); down from 5 units in January 2020 (2.02% of total).
- The Active Inventory for Resale Residential Real Estate fell again ending up at 0.3 Month's worth of Supply!
Interest Rates for Home Loans have been in moving in a "zone" and came in at an average of 2.74% for the month - down from 3.62% last year. At this point it is uncertain how much longer these record-low rates will be sustained by the Federal Reserve and the Bond Market(s) so, our recommendation is review your situation now to see if you can benefit from the low rates.
I have prepared a custom chart (below) showing the Number of Homes Sold (Unit-volume) trend, for both short and long term trends:
Vancouver WA Resale Home Sales -Units Sold Trend January 2021
This month we see the two trend-lines crossing, with the short-term in its seasonal down-leg; with the long-term line in a strong up-move. We expect the long term trend, and overall volume to be as strong as last year's activity.
The Average Sales Price trend is in a "holding-pattern" mode at present with not much move in the short-term trend; while the long-term trend is still moving upwards:
Vancouver WA Resale Home Sales - Average Sales Price Trend
We are now at 0.3 month's Supply of Active Inventory - which is the lowest we've posted ever for this report/blog. This is likely at least a medium-term imbalance in our market.
In January 2021 there were 43 properties (15.6%) that closed at $300,000 or less when sold. In comparison with the same month in 2020, 81 or, 28.2% of the sales were at $300k or below.
Our final charts come from RMLS, using a mix-mode format showing 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 and Pending Sales moving up strongly; with Closed Sales lower than last month but stronger than this mark last year.
The second chart shows record levels for both the Average Prices for New Listings and for Closed Sales.
Average Days on the Market gained 9 days; while Median Days moved up only 2 days - both are showing relatively brisk sales for this time of year.
Thank you for visiting our home sales report for Vancouver WA. We're glad to help you with any questions, or requests for assistance with your property purchase or sales needs in 2021!
PS - We love to Sell Homes in Vancouver Washington. Are you in the market to sell your property? - 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 Home Sales Agent, 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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