Slowing Pre-Owned Home Sales in Battle Ground for May 2018
Although quite an improvement from April's dismal results, the unit-volume/number of homes sold this month is quite a bit less than what was posted this month last year, yet prices are rising very strongly. Here are this month's highlights:
- The 3-Month Moving Average for Price is $410,505 or +14.18% compared to the previous year (and up $28k from last month!); with the 12-Month Moving Average now at $395,804 or, +14.60% higher.
- The Inventory level for Resale Homes moved up again to 2.1 Months.
- Approximately 46 Pre-owned Homes closed in May, compared to 58 Sold in May 2017; a decrease of 12 homes or, -20.7%.
- REO/Bank Owned property sales were 0 units (0% of total); compared to 1 (1.7%) in May 2017.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); compared to 1 (1.7%) in May 2017.
Battle Ground's average sales price came in at $410,505 this month; greatly expanding its lead over Vancouver's by approximately $52,635. We believe we are seeing the impact of rapidly rising prices and higher home loan rates causing unit-sales to slow, as more home buyers are either priced-out of this market or, are resisting a purchase at this higher price level.
The short term (3-months-trend shown in red) and long term (12-months - blue) trend-lines for Unit-Home Sales are shown in the chart below:
Battle Ground Resale Home Sales -
Units Sold Trend May 2018
The long-term trend has clearly settled into a lower level than the peak of two years ago. With the unit-sales slow at this point in the year, it remains to be seen if this long-term measurement will go even lower before the year is out. It also seems worrisome that the short-term trend line has not yet met the long-term line on its way up, and is still a ways off!
Battle Ground Resale Home Sales -
Avg Sales Price Trend May 2018
Home sales prices on the other hand are in a very steep upward move, overtaking the high prior to the most recent decline. We'll want to watch the price and volume measures in the immediate months ahead to see if we may be running out of steam in this years-long market uptrend.
Our final charts come from RMLS for Battle Ground WA showing:
Battle Ground Resale Home Sales Inventory
& Days on Market May 2018
Both New Listings and Pending Sales made strong upward moves; while Closed Sales rose quite a bit although the prior month was unusually low.
Both Average New Listing Prices and Closed Sales prices are inhabiting the higher level.
Finally, both the Average Days on Market and Median Days on Market actually increased, while still remaining in a strong Seller's Market / brisk pace.
Thank you for visiting our Home Sales report for Battle Ground Washington. Please contact us with any questions you have!
PS - Our real estate team Loves to List and Sell homes in Battle Ground, and had a very successful 2017! If you are thinking of selling this year we'd Love to Help You! The first step is to give us a Call (e-mail or Text is fine as well) and have us prepare a Current Home Price Market Valuation at no-cost, no-obligation to learn your home's current value and how the listing and sales process works.
PPS - We also love to help Home Buyers looking at Battle Ground homes to purchase. Our website is free to use, and provides several category searches, with property listings from the entire RMLS. Battle Ground WA homes still represent a great value in 2018. When you are ready to take the next step in purchasing a home or property, Give us a Call!
NOTE: Some of the popular Search Pages on our site include: Battle Ground Acreage Real Estate; Battle Ground Luxury Real Estate; Battle Ground One-Level Homes .
The Battle Ground Washington Real Estate informational charts used in this report (prepared by Realtor® John Slocum, our resident statistician) are based on home sales recorded in the Battle Ground 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 Battle Ground WA 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.