Home Sales Prices Keep Falling for Camas WA in December 2018
Camas WA Home Sales came in with both lower prices and lower number of units-sold. Here are this month's highlights:
- The Short-Term Average Price Trend fell about $8,500 this month with the 3-Month Moving Average at -3.17% from the year before; with the 12-Month Moving Average is up 4.73%
- The Inventory level fell again and is now at 1.8 months for Resale Homes.
- Approximately 22 Resale Homes closed in December 2018, compared to 45 Sold in 2017; which is 33 (73.3%) fewer than in 2017, and 14 fewer than last month;
- REO/Bank Owned property sales were 0 units (0% of total); no change from 0 (0%) in 2017.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 2 (4.4%) in 2017.
The Average Sales Price hit its all-time high this summer at $549k, but has now dropped significantly, ending the year approximately $87k Lower than the peak; and about $15k Lower than the same measure in 2017. This average price is now only approximately 20% higher than the Clark County average.
Next we have the Short Term and Long Term trends for Unit-Sales shown in our chart below:
Camas Resale Home Sales - Units Sold Trend December 2018
Up until this month, the falling prices in Camas had not been matched by a decrease in unit-volume - but now, we've had a dramatic reduction of closed sales this month. In fact, for the year-in-total, this town has exceeded last year's number of sales by 17 units (+3.44%).
Average for Closed Sales Prices (shown below) appears to be falling in near-free-fall fashion, with the short-term line now well below the long-term line; and the long-term line has stopped rising.
Camas Resale Home Sales - Average Sales Price Trend December 2018
We are seeing similar change in the market across the country, and the dramatic move we are seeing here is likely owing to this being a smaller town, with a higher than the County average level of home values.
These final charts are from the RMLS Statistics package showing important items in a mixed-graph-type format:
Camas Resale Home Sales Inventory & Days on Market - December 2018
The Inventory-by-Month graph shows New Listings and Closed Sales coming in lower, with Pending Sales seeing a slight upwards bump; with the overall combination resulting in a reduction in Available Inventory.
The middle chart finds the Closed Sales price coming in much lower than the price level for New Listings. In fact, the gap between the two is quite startling!
The final chart shows both the Average Days on Market and the Median dropping substantially.
We hope you've found value in our Camas WA Home Sales Report. Please let us know how we can help you or help someone you know with their real estate needs in this area!
PS - we love to help our customers sell or buy their Camas Home. Thinking of Selling or, just want to know what your home is worth? We offer a no-cost, no-obligation Camas WA Home Price Valuation, and invite you to try it out Today!
PPS - We also Love to help Camas Home Shoppers, and invite you to visit our page for Homes for sale in Camas WA , where 16 neighborhood searches are set up, such as: Homes for sale in Lacamas Shores, Homes for sale in Parker Estates, Homes for sale in Holly Hills, Camas WA; in addition to 7 category searches such as Condos for sale in Camas WA; Foreclosure Homes Camas WA, Property listings are from the entire RMLS.
The Camas Real Estate charts in this report (prepared by Camas WA Real Estate Broker John Slocum, our resident statistician) are based on home sales recorded in the Camas 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 Camas real estate market.
Disclaimer: as with any real estate statistics, we always 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.