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Clark County and Vancouver WA Real Estate | Market Update February 2011

By John Slocum

Real Estate Agent with Premiere Property Group, LLC - Vancouver Washington 88349

March 06, 2011 10:14 AM

Home Sales Show Another Strong Gain for Vancouver and Clark County Washington in February.

Clark County and Vancouver WA real estate has again improved with a nice up-tick in Pending Sales of about 10% with 3rd Party/Short Sales plus Bank Owned homes making up about 44% of the total.

We are using the Vancouver MLS (covers Clark County Washington also) to obtain a quick snap-shot view of what happened real estate sales wise within the confines of Clark County Washington (Vancouver USA is the largest community) for the month of February. The chart below is the condensed version we have prepared from Vancouver MLS data:

Vancouver WA Real Estate Market Report, including Clark County WA for February 2011 by John Slocum of REMAX Vancouver WA

While the level of Active homes is showing an increase, the volume of Pending Sales again picked up very nicely! The table below shows the most recent three months of activity for comparison purposes. Although the median price showed slight slippage, the average sales price for February was the highest for the past three months. (right-click on the image to see the enlarged view).

Vancouver WA Real Estate Market Trends for February 2011, John Slocum Realtor Broker Agent with REMAX Vancouver WA

From this quick view we have an increase to 12.59 months inventory, which is has been a typical seasonal bulge in the supply of homes for sale in Vancouver WA. However, when we exclude active listings that are advertised as to-be-built new homes, the number goes down further (a good thing)!

For this month the Average Sold price is $235,585 which is up 7.79% from the prior month; while the Median Sales Price move down from $195,900 to $195,000. The increase in the average sales price may indicate better action starting to take place in the higher priced market segments, which is very welcome.

The important items we are looking for the Clark County market turnaround are not just an increase in the number of transactions and firming-prices but, an increase in the "Normal Sale" (i.e., non-Pre-Foreclosure / Foreclosure) Category. In our opinion with about 44% of the Pending status homes being 3rd party or Foreclosure transactions (another monthly decrease), we may actually be seeing a positive trend -- with short-sale lenders improving their Approval Rates for short sale offers! Prices have been relatively flat, with some up and down, which is a typical and welcome sign of base-building.

If you are looking to sell your home in Vancouver WA, and 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 Clark County Home Sold!

The largest city in Clark County WA is Vancouver Washington. Other towns include: Amboy, Battle Ground, Brush Prairie, Camas, Ridgefield, Washougal, parts of Woodland and Yacolt.
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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.

Current Vancouver WA Real Estate Market Reports:

Previous Vancouver WA Real Estate Market Reports:

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 Homes for sale 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!

Visit our website to learn more about Vancouver Washington, Camas real estate or Battle Ground real estate.

PS - Nobody sells more real estate than RE/MAX. Look to John Slocum and Kathryn Alexander for Vancouver WA Homes For Sale