Much Slower Unit Sales, with Slower-to-Stalled Price Rise for Vancouver WA in December 2021.
As we complete the final month of the year we see typical slowing in Unit-Sales with Prices the softest we've seen in a long time; with extremely Record-Low Active Inventory. Mortgage rates remain moved up slightly to 3.10% Real estate Prices in Vancouver WA slowed their rise to less-than $3k above last month (up 15.58%+ year-over-year). Here are the highlights for this month:
- 435 Resale Residential Properties closed this month, which is 10 more (2.35%) compared to the same month last year; and 7 more than last month.
- The 3-Month Moving Average Price Trend rose to a new high, and is now at $492,246, with a year-over-year gain of 15.58% ; with the 12-Month Moving Average at 17.40%.
- Short Sale /Pre-Foreclosure property sales were at 0 units (0% of total); no change from 0 in December 2020 (0% of total).
- REO/Bank Owned property sales were 3 units (0.69% of total); no change from 3 units in December 2020 (0.71% of total).
- The Active Inventory for Resale Residential Real Estate ends the month at a extremely-low level 0.2 Month's worth of Supply!
Interest Rates for residential real estate loans remained in the low 3.0% range with an average of 3.10% for the month - up from 2.68% last year.
Next up are my custom chart showing the Number of Properties Sold (Units-sold-volume) trend, for both short and long term trend lines:
Vancouver WA Resale Real Estate Sales -Units Sold Trend December 2021
This month on its way down the short-term line has met the long-term line, with both at a relatively high level. We are however, seeing slight decline in the Long-Term line.
Active Resale Inventory is at 0.2 Month's worth - we still have a serious mis-match between Sellers and Buyers in this market.
Next up is my custom Price-trends chart showing the short-term and the long-term trend lines:
Vancouver WA Resale Real Estate Sales - Average Sales Price Trend
The short-term trend is in its third month at a slower pace, and hit a new high; while the long-term trend is also at a new high and still rising strongly.
In December 2021 there were 22 properties (5.06%) that closed at $300,000 or less when sold. In comparison with the same month in 2020, 63 or, 14.82% of the sales were at $300k or below.
Our 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, Inventory-by-Month, shows New Listings and Pending Sales dropping considerably; with Closed Sales moving up by 7 units. With Pending Sales stronger than the incoming New Listings, we continue to see Available Inventory at very low levels.
For the second graph, the Average Prices for Closed Sales and New Listings are still strong, with a new high for Closed Sales.
Average Days on the Market is still brisk even though it moved up to 19 days; while Median Days remained at a low 6-days.
Thank you for visiting our real estate sales report for Vancouver WA. We're glad to help you with any questions, or requests for assistance with your home purchase or sales needs into 2022!
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 show me 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 - 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 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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