Vancouver's Home Sales Again Made a Modest Upward Move this Month, While Inventory Also Moves Up in March 2018
This month posted an increase in closed sales from the prior month but, compared to March 2017 we are 46 units short. Key points for Real Estate and Home Sales in Vancouver include:
- 335 Resale Homes were sold in March 2018, which is 46 fewer (-12.1%) homes than were sold in March 2017.
- The 3-Month Moving Average Price Trend Line is 11.21% higher than the prior year; with the 12-Month Moving Average now up 10.32%.
- Short Sale /Pre-Foreclosure property sales were 3 unit (0.9% of total); down from March 2017's 8 (2.1% of total).
- REO/Bank Owned home sales were 3 units (0.9% of total); compared to 15 units in March 2017 (3.9% of total).
- The Inventory for Resale Homes moved up moderately to 1.0 Months of Supply.
Closed Sales are up 41 units from last month however, Pending sales are UP 115!
Freddie Mac reports the 30 year Interest rate for home loans came in at an average of 4.44% for the month, which is higher than last month's, and higher than last year's 4.2%.
We'll now focus on the Unit-volume trends, charted in our custom chart below, with the Short Term (3-months combined - red line) showing a tell-tale bottoming action for the Winter/Spring seasonal change.
Low availability of homes for sale is clearly restraining the ability of home shoppers to find and purchase the home they are looking for. One of the reasons we are hearing from home owners reluctant to sell are "there are almost no homes for them to readily purchase!" In a sense this sure looks like a difficult paradox to break free from.
As expected with the start of a new Season the Prices in this Seller's Market have resumed their move upwards, as the chart below shows for the short-term trend (in red - a 3-month simple moving average).
Vancouver WA Resale Home Sales - Average Sales Price Trend
In March 2018 there were 14 properties (4.2%) that closed at $200,000 or less when sold; with 33 (9.9%) sold that were priced $200,000 to $250,000. In comparison with the 2017-March measurement, 83 or, 21.78% of the sales were at $250k or below; while this year that reading is now at 14.03%.
These remaining graphs are from the Regional Multiple Listing Service, showing the real estate market action for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Home Sales Inventory & Days on Market Trends
The first graph shows all three elements: New Listings, Pending Sales and Closed Sales increasing nicely; with enough New Listings to cause the Active Inventory level to rise modestly.
The second chart shows average new-listing-prices continue to push upwards which will result in higher closed sales prices in the months ahead.
Lastly, both the Average Days stayed the same while the Median dropped to less than a week!
Thank you for visiting and reading our home sales and real estate market report for Vancouver Washington. Please contact us with any questions, or requests for assistance with your real estate needs.
PS - We love to Sell Homes in Vancouver and Clark County. The first step to take is to ask us to find out what your home will Sell For. We'll prepare a confidential Market Analysis and Valuation, and a road-map for the Home Selling Process. Give us a Call - we'd love to help you out!
PPS - Home Shopping or, looking to right-size to a Home or Condo? We wouldn't have a real estate market if there weren't home buyers, and we love to help Home Buyers! As a part of our service we make it ease to Search all the available Homes for sale in Vancouver Washington or, separately Search all the available Condos for sale in Vancouver WA. We've put much custom work in to make it Easy for You to search by Neighborhood or by Category, with Homes and real estate listings from the entire RMLS. Sign-up is Not Required but recommended as you can Save your own custom search!
This report and custom charts (prepared by John Slocum Vancouver WA Listing Real Estate Broker, our resident statistician) are based on home sales posted in the Vancouver 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 Vancouver WA'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. We deem the data and reports reliable but not guaranteed.
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