Vancouver Washington Real Estate Market for the month of January 2010
Earlier this month we logged into the Vancouver MLS to obtain a quick update of what happened with real estate and homes for sale within the confines of Vancouver, in Clark County Washington. Here is what we have to report:
From this snap-shot view we see another significant increase in the number of Pending transactions compared to the typically slow December, as well as a modest increase in the number of total Active listings available at the end of the month. This month the 3rd Party + Pre-Foreclosures + Foreclosures combined are about 36.2% of the Active homes listed (about 35.0% last month), yet they represent about 43.4% of the homes going under contract (about 51.1% last month) - this is a continued high level for these two segments!
Key items we are looking for in a market turnaround are not just an increase in the number of transactions but, an increase in the "Normal Sale" (i.e., non-Pre-Foreclosure / Foreclosure) category. For this month we are seeing a continued status-quo for both key factors.
The Chart below shows the current trend of home prices for Vancouver WA, compared to other Pacific Northwest cities of Seattle Washington, and Portland Oregon. For home prices to start going up, we will typically first see a meaningful AND sustained increase in the number of homes purchased. Although there had been modest increases in home buying activity for the late-Summer and early-Fall months combined, we are not confident that it will return until February or March.
If you are looking to sell your home in Vancouver or Clark County Washington in this challenging market time please call or e-mail us with the details of your situation and we'll customize a marketing plan to get your Vancouver Washington Home Sold!
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Definitions:
1) 3rd Party = the sales contract requires the approval of a third party; and includes Short-Sales, Trust Sales, Relocation Company sales, etc.
2) Pre-Foreclosures = aka Short-Sales are homes where the lending bank(s) agrees to take less, allowing a sales transaction to take place.
3) Foreclosures = aka REO's and Bank Owned Homes, already Foreclosed by the Lender(s).
4) PENDING = listed homes that have been marked as under contract by the listing agent during the past 30 days.
5) SOLD = listed homes that have been marked as closed sales by the listing agent in the past 30 days. Note: some of these sold homes may have been "pending sales" for far more than 30 days!
Disclaimer: this information is drawn using custom search parameters from the predominant MLS system covering Vancouver Washington and is not guaranteed to be accurate.
The above information was provided by John Slocum and Kathryn Alexander, recognized as one of the top teams at REMAX Vancouver WA. We hope you enjoy the information in our posts, including videos on real estate and Living in Vancouver Washington and the rest of Clark County.
Thinking of selling your home in this market? We have the insight and passion for selling homes to get you moving!
For Southwest Washington homes and Real Estate in Vancouver WA visit Vancouver Washington Real Estate. If you have an immediate need to search the MLS for Vancouver WA please visit Vancouver WA Homes For Sale
If your interest is in foreclosures, pre-foreclosures (short-sale homes) and Bank Owned Homes in Vancouver Washington we have a special search set up for you at Bank Owned Homes Vancouver WA.
Current MLS Market Report for Vancouver WA and Clark County
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