Vancouver WA Condos See Slowing of Sales for July 2019.
This month we see Unit sales quite a bit lower than last year's mark; with the Average Sales Price in negative territory as well. Here are the key points for this month:
- The Short term Condo Sales Price (3-Month Moving Average) has reversed course from its typical seasonal move, and declined almost $13k to $268,813 which is down -4.06% over the prior July; and the 12-Month Moving Average is up 5.81% from the prior year;
- 54 Resale Condominiums were sold in July, which is 10 fewer units sold (-15.6%) than in July 2018, and 2 more than last month;
- REO/Bank Owned Condominium sales were 0 units (0% of total); down from 0 (0% of total) in July 2018.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); no change from 0 (0% of total) in 2018.
The increase to Inventory moved up 0.5 months, ending the month at 2.6 months-of-supply.
I have prepared custom charts below, for the Unit-volume trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend July 2019
The short-term line has met but not gone above the long-term line. The long-term line has now made another slight-downward move, given the sluggish sales this month.
Following on we have the custom chart for Average Sales Prices, which had risen but has now made an abrupt downturn - very uncommon for the summer season:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
The small-size of the condo market in Vancouver can cause the price trend-line to be subject to quick direction changes depending on how many sales are made at the high-end. It is likely that the fewer sales at the high-end condo market is making the overall price trend look very odd - while the true price levels at the middle and lower levels may not be so different from last year.
The final charts illustrate Unit Sales, Average & Median Prices; and Days on Market results (from RMLS chart-tools):
Vancouver Condo Sales Inventory & Days on Market Trends
Inventory-by-Month shows New Listings declining with both Pending Sales and Closed Sales moving up slightly.
The Price graph shows the Average Prices for New Listings similar to last month's level; with Closed Sales down a moderate amount.
The Average Days on the Market continued to increase; with the Median Days on Market jumping up substantially. Both are confirming a slowdown in this market segment.
Thank you for visiting this month's Condo report for Vancouver WA
. I'm happy to answer your questions or comments on this market segment; and would love to assist you in Selling or Buying your Condo!
Like to see more like this? Then you may like: Vancouver WA Homes for Sale Report for July 2019
The statistical charts for Vancouver WA Condos in this report (prepared by Vancouver WA Condominium Listing Broker John Slocum
, our resident statistician) are based on condo sales recorded in the Vancouver MLS system (RMLS), excluding sales of newly constructed condos; and shows the purchase activity since 2009; charting the 3 month Moving average number of sales, and the 12 month Moving average. The "smoothing" of the relatively sparse-data helps to better illustrate the short-term and longer term trends in Vancouver's Condominium market.
Disclaimer: as with all 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.