Unit - Sales Plunging While Prices Hold at Season's High
Unit-Sales volume has been crashing, while Average prices have been at a plateau for five months now. Highlights for Vancouver Real Estate and Home Sales this month:
- 342 Resale Homes were sold this month, which is 68 fewer (-16.6%) than were sold in November 2017.
- The 3-Month Moving Average Price Trend Line, actually exceeded this year's previous high by $10, but is only 7.8% higher than the prior year; with the 12-Month Moving Average up 9.06%.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 2 in November 2017 (0.48% of total).
- REO/Bank Owned home sales were 0 units (0% of total); compared to 6 units in November 2017 (1.5% of total).
- The Active Inventory for Resale Homes keeps shrinking and is now at 1.5 Months of Supply.
Of all the Fall Season's performance in this long-winded rally (since January 2012), this year we are seeing the uncommon combination of prices that are remaining at the year's high, when they would typically be falling; and unit-sales volume is dropping much stronger than is typical.
Our first chart below, for unit-volume sales trends, with both short and long term trend lines in a steep downward mode:
Vancouver WA Resale Home Sales - Units Sold Trend November 2018
This month the short-term line has overtaken the long-term line, one month early, and even with the long-term line dropping rapidly! Clearly a sign of slowing sales.
Our previously noted extended price-plateau is still in-place this month, as the chart below shows. With inventory shrinking, this condition could remain in place a while longer.
Vancouver WA Resale Home Sales - Average Sales Price Trend
In November 2018 there were 20 properties (5.8%) that closed at $200,000 or less when sold; with 20 (8.2%) sold that were priced $200,000 to $250,000. In comparison with the same month in 2017, 84 or, 20.5% of the sales were at $250k or below; while this year that reading is now at 14%.
The remaining set of graphs come from RMLS, showing the real estate sales results for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Home Sales Inventory & Days on Market Trends
The first graph - Inventory by Month; we see all elements: New Listings, Pending Sales and Closed Sales - all dropping in unison, with the result is an ever shrinking level of Inventory.
The second chart has both the closed sales price and the average new-list falling a but this month.
Finally, the Average Days on the Market increased slightly, while the Median Days stayed about the same. Both are at a level we would expect to see at this time.
Thank you for viewing our home sales report for Vancouver Washington. We are glad to help you with any questions, or requests for assistance with your real estate needs.
PS - We love to Sell Real Estate and Homes in Vancouver and Clark County Washington. Are you in the market to sell your home? - 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!
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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.