The SLOW Season for Camas WA Home Sales in Early 2016
In early 2016 Camas WA Home Sales have been at a greatly reduced level, for Unit-Sales; while Average Sales Prices are resuming their upward move. Here are February 2016 highlights:
- Prices Indexes have moved Upward, with the 3-Month Moving Average Up 13.62% (February 2015 vs. February 2016); while the 12-Month Moving Average went up 6.98% for the same time-period.
- The Inventory level for Resale Homes is down to 1.3 Months - a level we feel is an "Extreme Seller's Market"
- Approximately 27 Resale Homes closed in February 2016, compared to 31 Sold in February 2015; a modest decrease from last year.
- REO/Bank Owned property sales were 0 units (0.0% of total); down from 5 (16.13%) in 2015.
- Short Sale /Pre-Foreclosure property sales were 0 units (0.0% of total); down from 1 (3.2%) in 2015.
Like nearby Vancouver WA, and the rest of Clark County, the inventory level for pre-owned homes is now at an extremely low level. The fewer available homes to review, along with the rapid pace of offers being written is causing considerable stress on home-buyers. It is also causing strong upward pressure on property values in Camas.
With the average sales-prices in record setting territory, it makes sense that the level homes in the Distressed Property category (Foreclosures and Short Sales) has dropped to zero-closings this past month!
Now we'd like to share our custom charts for Camas Home Sales shown below:
Camas Resale Home Sales - Units Sold Trend February 2016
In 2016 the Unit Sales were extremely strong, and now we are seeing perhaps a larger than typical decrease in sales; with less carry-forward inventory combined with a time of the year not known for many new listings. With new listings starting to pick up in Camas, we expect unit-sales volume will also move forward very soon.
Average Home Sales-Prices (chart below), on the other hand, are showing an early advance - an increase most likely caused by the extremely low level of available pre-owned homes.
Camas Resale Home Sales - Average Sales Price Trend February 2016
The following three graphics are from the RMLS market statistics program, configured to show the market activity for pre-owned homes in the Camas WA market area:
Camas Resale Home Sales Inventory & Days on Market - February 2016
The top chart shows how January and February have been the lowest sales-unit-volume months out of the past 12 months.
The second graph is showing that the average first-list-price for new listings is not straying too far from the closed sales price.
The final graph is showing how the sales-cycle time has increased during this Winter; which will likely decrease soon as the sales season gets started.
Thanks for checking in and please let us know how we can help you with your home sales or purchase plans!
PS - Please visit our page for Houses for sale in Camas WA , where 16 neighborhood searches are set up, such as: Homes for sale in Lacamas Shores, Homes for sale in Parker Estates, Homes for sale in Holly Hills, Camas WA; in addition to 7 category searches such as Condos for sale in Camas WA; Foreclosure Homes Camas WA, Property listings are from the entire RMLS.
PPS - 2016 is seeing the market move into record-setting territory for Camas WA area. If you are thinking of Selling or, just want to know what your home is worth - we offer a no-cost, no-obligation Camas Washington Home Valuation Report, and invite you to try it out Today!
The Camas Real Estate charts in this report (prepared by Camas WA Real Estate Broker John Slocum, our resident statistician) are based on home sales recorded in the Camas 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 the Camas real estate market.
Disclaimer: as with any real estate statistics, we always 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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