Reasonably Strong Home Sales for Vancouver WA in October 2019; Prices in Softening-mode.
Early 4th Quarter Vancouver WA Home Sales post reasonably good unit-sales; with the average sales price showing typical seasonal softness. Here are the highlights for this month:
- 377 Resale Homes closed this month, which is 11 fewer (-2.8%) compared to this month last year; with 27 fewer than last month.
- The 3-Month Moving Average Price Trend Line is slowing sliding, and now at $370,372, with a year-over-year gain of 2.54% ; with the 12-Month Moving Average positive at 4.15%.
- Short Sale /Pre-Foreclosure property sales were 1 unit (0.27% of total); no change from 1 in October 2018 (0.26% of total).
- REO/Bank Owned home sales were 0 units (0% of total); compared to 2 units in October 2018 (0.52% of total).
- The Active Inventory for Resale Residential Real Estate slipped 0.1 to a very low 1.3 Months of Supply.
Mortgage Interest Rates rose a small amount, averaging 3.69% for the month, which is still at an extremely low level.
Next up we have custom graphs showing the Number of Homes Sold (Unit-volume) trend, for both short and long term trend lines:
Vancouver WA Resale Home Sales -Units Sold Trend October 2019
We are now in the early phase of the downward turn of the short-term line; while the long-term trend is rising off of its recent near-term bottom. Pending sales this month seem reasonably strong thus, we expect the long-term trend to remain slightly positive.
Following on is the Average Sales Price trend-graph below, with the short-term line slowing its seasonal decline:
Vancouver WA Resale Home Sales - Average Sales Price Trend
The price-action this year has clearly been showing a slowing in the rise of prices. Wages haven't been rising fast enough to support the previous rate of increase for home prices.
In October 2019 there were 29 properties (7.7%) that closed at $250,000 or less when sold. In comparison with the same month in 2018, 37 or, 9.5% of the sales were at $250k or below.
The remaining charts below come from RMLS, using a mix-mode to highlight home sales results for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Home Sales Inventory & Days on Market Trends
In the first graph New Listings, Pending Sales and Closed Sales again appear to be in lock-step, and all are at a level slightly lower than last month.
The middle chart shows Average Prices, with the New List Price and Closed Sales price both coming in relatively strong.
Both Average Days on the Market and Median Days increased by several days.
Thank you for reviewing our home sales report for Vancouver WA. We're happy to help you with any questions, or requests for assistance with your home purchase or sales needs in 2019!
PS - We love to Sell Homes in Vancouver 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!
PPS - Home Shopping or, looking to right-size to another Home or Condo? We wouldn't have a real estate market if there weren't home buyers, and we love to help Home Buyers! As a part of our service we make it ease to Search all the available Homes for sale in Vancouver Washington or, separately Search all the available Condos for sale in Vancouver WA. We've put much custom work in to make it Easy for You to search by Neighborhood or by Category, with Homes and real estate listings from the entire RMLS. Sign-up is Not Required but recommended as you can Save your own custom search!
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.
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