Clark County WA Real Estate Market Report November 2016

By
Real Estate Agent with Premiere Property Group, LLC - Vancouver Washington 88349
https://activerain.com/droplet/4XBS

Unit-Sales Leveling but Still Rising Prices for Clark County WA's Real Estate in October 2016! 

We have had another massive sales-year in Clark County so far for pre-owned Homes and Condos.  We are clearly hitting the limits of the existing-home inventory level, as we've closed essentially the same number of units this year (actually four (4) units more) with the prices moving up the strongest rate we've seen in many years. Here are some of the highlights for October 2016: 

  • Average-Sales Prices are strongly up, with the 12-month/long-term trend line up 11.2% compared to the prior year, and the 3-Month Moving Average  up 13.8% from the same month last year; 
     
  • The Inventory for Resale Homes further slipped down to 1.7-Months Supply - a strong seller's market;
     
  • Approximately 552 Resale Homes were sold in October 2016, which is about -136 (-19.77%) fewer homes than in October 2015.
     
  • REO/Bank Owned property sales were 11 units (2.0% of total); down from 29 (4.2%) in 2015. 
     
  • Short Sale /Pre-Foreclosure property sales were 9 units (1.6% of total); down from 12 (1.7%) in 2015.

The October 2016 30-year-fixed home loan benchmark interest rate is 3.47% (up from 3.46% last month) according to Freddie Mac; compared to 3.80% for October 2015. With the Federal Reserve expected to raise the rate(s) in early December, at the time of this writing we have already seen rates rise in anticipation of this change.

Our custom graphs/charts for Clark County WA have been prepared to help tell the rest of this real estate market's story. Using 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 October 2016- Units Sold Clark County Home Sales - Units Sold Trend October 2016

From the chart above we can see that the red-line (short-term) trend for unit-sales started the year at a higher level than seen in 2015; while the Peak during the summer months was not as high as last year.  All totaled and averaged in the blue-line (12-month's worth of results) we can see that there has been a leveling of activity.  Keep in mind this activity level is much, much higher than what we saw in 2013 - 2014.

Next, we see that we are in a very strong segment of the 5+ year up-trend in average sales prices.  With the available inventory of homes for sale at such a low level as we enter the Winter season, it is reasonable to expect we'll see little downward pressure on sales prices in the near term.

Clark County Home Sales October 2016- Average Sales Price Trends Clark County Home Sales - Average Sales Price Trend October 2016


This Month's short term  Average sales price for Clark County is now up to $337,690!  This is up about $42,971 so far this year - which is 14.6% higher than the December 2016 average sales price.


Charts of Vancouver WA Home Sales Trends in October 2016 Clark County Home Sales Inventory & Days on Market in October 2016


These final graphs show a few more items of interest, and are from the RMLS Statistics package.

The number of New Listings and Pending Sales have dropped to a more typically lower level as we enter the final months of the year.

In the second graph we see an interesting situation with the average sales price actually exceeding the average list price for new listings.  We suspect that a swing in a few million-plus dollar homes on or off the market can make such a scenario appear.

Both the Cumulative and Median Days on Market in the last chart show a moderate slowing to the sales-time-on-market however, with the Average at about 40 days, this is seen as still quite brisk - especially for this time of the year.

More information from RMLS on the Clark County real estate scene can be found here: RMLS Market Action Report on our website.
 


PS - You are invited to visit our web-page for  Homes For Sale Clark County WA 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 Clark County WA Home Valuation, 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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Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

I always enjoy your market reports - thanks for posting! and have a wonderful Thanksgiving!  I love seeing what is going on around the country! 

Nov 22, 2016 09:32 PM #1
Rainmaker
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Alexander- Slocum
Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA
Realty Team- Vancouver WA Real Estate

Hi Lise Howe, thanks for your review of our Clark County WA Real Estate Market report; and we hope you had a great Thanksgiving as well!

Nov 28, 2016 10:52 AM #2
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Rainmaker
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Alexander- Slocum

Realty Team- Vancouver WA Real Estate
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