Vancouver WA Condos Continue with Slower Sales for August 2019.
Unit sales came in significantly lower than last year's tally; with the Average Sales Price also falling. Here are the highlights for this month:
- The Short term Condo Sales Price (3-Month Moving Average) declined again, down almost $18k from last year to $260,409 which is -6.45% compared to the prior August; with the 12-Month Moving Average is up 4.57% from the prior year;
- 53 Resale Condominiums were sold, which is 10 fewer units sold (-15.9%) than in August 2018, and 3 fewer than last month;
- REO/Bank Owned Condominium sales were 0 units (0% of total); down from 1 (1.6% of total) in August 2018.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); no change from 0 (0% of total) in 2018.
The Inventory level decreased 0.6 months, ending the month at 2.0 months-of-supply.
The custom charts below show the Unit-volume trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend August 2019
The short-term line is clearly showing that we may end up with the weakest showing for unit-sales in the past 6 years. The long-term trend as also still drifting lower.
Our custom chart for Average Sales Prices is strongly telling us that the condo market is having challenges this year or at least one part (the High-end) is having a challenge:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
At a time of the sales-season when prices are either increasing or, at least firm, we have been seeing a few months of price-decline. Truly the price action for this market segment over the past year is exhibiting consolidation and change. The big question for us at this point is whether prices will stabilize at this level or fall farther.
These remaining graphs show 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 Pending Sales increasing slightly; while both New Listings and Closed Sales moving downwards - the sum effect has been a reduction of active inventory.
The Price graph shows the New Listings Average Prices coming in quite a bit higher than we've seen the past few months; while Closed Sales are up a slight amount from last month.
The Average Days on the Market declined by several days; with the Median Days on Market also declining but only by about a day.
We hope you've found value in this month's Condo Sales report for Vancouver WA
. I'm happy to answer your questions or comments on this type of home; 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 August 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.