Extremely Robust Unit Sales combined with Continued Strong Price Rise (21%+) for Vancouver WA in June 2021.
Active Inventory remains quite low despite a decent rise in New Listings (Supply). Mortgage loan rates remain below 3% causing prices for Real estate in Vancouver WA to rise about $10k aver last month (up 21%+ year-over-year). Here are the key points for this month:
- 522 Resale Residential Properties closed this month, which is 116 more (28.57%) compared to the same month last year; and 48 more than last month.
- The 3-Month Moving Average Price Trend is regularly posting new highs, and is now at $474,136, with a year-over-year gain of 21.95% ; with the 12-Month Moving Average at 16.52%.
- Short Sale /Pre-Foreclosure property sales were at 0 units (0% of total); down from 2 in June 2020 (0.49% of total).
- REO/Bank Owned property sales were 0 unit (0% of total); down from 2 units in June 2020 (0.49% of total).
- The Active Inventory for Resale Residential Real Estate is still at a super-low level 0.6 Month's worth of Supply!
Interest Rates for residential real estate loans remained below 3.0% again to an average of 2.98% for the month - down from 3.16% last year.
Next we have my custom chart (below) showing the Number of Properties Sold (Unit-volume) trend, for both short and long term trend lines:
Vancouver WA Resale Real Estate Sales -Units Sold Trend June 2021
The short-term line continues moving up strongly, and is near an all-time high. The long-term line is now moving up more rapidly as it is now in new all-time-high levels.
Active Resale Inventory is at 0.6 Month's worth; keeping the "shelf life" for new listings at a very short number of days.
Next my custom Price-trends chart shows the short-term and the long-term trend lines:
Vancouver WA Resale Real Estate Sales - Average Sales Price Trend
The past 12 months have shown the strongest, most sustained increase in prices that we've seen in the past 9 years. How much longer can this last?
In June 2021 there were 30 properties (5.75%) that closed at $300,000 or less when sold. In comparison with the same month in 2020, 68 or, 16.75% of the sales were at $300k or below.
These remaining charts are from RMLS, in a mix-mode format showing results for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Real Estate Sales Inventory & Days on Market Trends
The first graph shows New Listings and Closed Sales making strong gains; while Pending Sales rose only slightly - not much of a move to signal any slowdown yet. Inventory is stubbornly well below 1 month's worth.
Once again we see New Record highs for the Average Prices for Closed Sales and New Listings, as shown in the second graph.
Average Days on the Market remained the same at 15 days; while Median Days remained at a 4-day level for the fifth straight month.
Thank you for visiting real estate market 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 Real Estate 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 My Property is Worth. We'll prepare a confidential Market Analysis and Valuation, and a road-map for the Real Estate Selling Process. Give us a Call - we'd love to help you out!
PPS - Real Estate 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 Real Estate 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 Real Estate Sales 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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