Rising Prices with Slowing Unit-Sales for Clark County WA's Real Estate in June 2016!
As a part of the hottest real estate market currently in the USA (Portland/Vancouver Metro), Clark County's home sales are showing signs of stress. Here are some of the highlights for June 2016:
- Average-Sales Prices are still moving up, showing the 12-month/long-term trend line up 9.74% compared to the prior year, and the 3-Month Moving Average up 11.18% from the same month last year;
- The Inventory for Resale Homes has again moved upward, now at 2.0-Months Supply - a very low level;
- Approximately 711 Resale Homes were sold in June 2016, which is about 40 (-5.3%) fewer homes than in June 2015.
- REO/Bank Owned property sales were 20 units (2.8% of total); down from 37 (4.9%) in 2015.
- Short Sale /Pre-Foreclosure property sales were 24 units (3.4% of total); an increase from 23 (3.1%) in 2015.
The June 2016 30-year-fixed home loan benchmark interest rate decreased to 3.57% (from 3.60% last month) according to Freddie Mac; compared to 3.98% for June 2015. This rate is now about the lowest seen in four (4) years.
Our home-grown graphs/charts for Clark County WA are shown below to help tell the rest of this month's story. With data from RMLS we apply a simple "smoothing" technique to better present the short-term trend (3-month moving average in Red); and long-term trend (12-month moving average in Blue).
Clark County Home Sales - Units Sold Trend June 2016
With over a year and a half at a higher rate of home sales, the long-term trend is clearly showing we are at a ceiling of sorts; or, in other words - we are likely at maximum capacity for selling pre-owned homes!
Moving into the later stages of the current 4+ year real estate uptrend, it seems clear that the higher prices are now creating significant challenges for home buyers to secure financing and make a purchase. However, since the available inventory is at such a low level, Sellers still have the advantage in the price they list their homes at - as shown below:
Clark County Home Sales - Average Sales Price Trend June 2016
This Month's short term Average sales price for Clark County is now up to $323,397!
Clark County Home Sales Inventory & Days on Market in June 2016
These last charts are from the RMLS Statistics that allow us to control the data (pre-owned homes) used.
The Average/Median Days-On-Market, shown in the last chart show both the Cumulative and Median Days on Market to be the lowest level for the past year.
More information from RMLS on the Clark County real estate scene has been posted here: RMLS Market Action Report on our website.
PS - Please visit our page for Clark County WA complete Source for Homes For Sale where it is Quite Easy to search by City, Neighborhood or by Category, with homes and real estate listings from the entire RMLS. Sign-up Not Required! The property and home listings shown are provided via many updates each day, and you will be e-mailed hourly with any new matches once you've signed up for a home search.
These are the MLS Listings for these great towns in Clark County: Battle Ground WA Homes | Brush Prairie WA Homes | Camas WA Homes | Hockinson WA Homes | La Center WA Homes | Ridgefield WA Homes | Vancouver WA Homes | Washougal WA Homes | Yacolt WA Homes | Amboy WA Homes
PPS - This is a Great Time to Sell Your Home; or, at least find out what your home is worth! We offer a no-cost, no-obligation Vancouver WA Home Value, and invite you to try it out!
The information and charts in this Clark County WA real estate update (prepared by Vancouver Real Estate Broker, John Slocum, CRS, SFR, our resident statistician) are based on home sales recorded in the Clark County WA 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 Clark County'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 and compiled. The data and reports are deemed reliable but not guaranteed.
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