Vancouver WA Condos Match Last Year's Unit-Sales Although Prices are Lower for October 2019.
Unit sales came in at the same number for this month last year, although year-to-date this statistic is down over 6%. The bigger news is the average sales price is quite a bit lower than last year. Here are the highlights for this month:
- The Short term Condo Sales Price (3-Month Moving Average) moved up slightly this month, now down almost $26k from last year to $256,776 which is -9.12% compared to the prior October; with the 12-Month Moving Average now in negative territory and is -2.47% compared to the prior year;
- 39 Resale Condominiums were sold, which is the same number of units sold in October 2018, and 20 fewer than last month;
- REO/Bank Owned Condominium sales are still at 0 units (0% of total); no change from 0 (0% of total) in October 2018.
- Short Sale /Pre-Foreclosure property sales were also still at 0 units (0% of total); no change from 0 (0% of total) in 2018.
I have prepared the custom charts below to show the Unit-volume trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend October 2019
The short-term line has made its seasonal turn to the lower level of activity part of the year. The long-term trend is trying to go sideways.
The next chart shows Average Sales Prices, and both trend-lines are still moving down strongly:
The next chart shows Average Sales Prices, and both trend-lines are still moving down strongly:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
The average sales prices have taken a swift turn downwards to a lower level from the peak of just over a year ago. At a time such as this when the Condo market is trying to find a new "normal" we should perhaps expect to see a few more ups and downs in the short-term trend until this "Correction" has run its course.
Our remaining charts 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 and New Listings with not much change, while Closed Sales dropped strongly - perhaps to be expected after last months top posting for the year.
The Price graph has the New Listings Average Price dropping down from last month's high level seen in the past 12 months; while Closed Sales rose slightly.
The Average Days on the Market dropped slightly; Median Days on Market rose modestly; leaving the market in a moderatly strongly-paced mode.
Thank you for viewing our Condo Sales infeormational report for Vancouver WA. I'm glad 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 October 2019
PS - We love to help Condo Owners Sell their home. This market segment is still very popular, and now is a great time to call to get started with a Market Value for your Vancouver WA Condo, and to learn more on how the sales process works in this fast-paced market.
PPS - I also love to help Condominium Buyers! Contact us at your earliest convenience and discuss your interests and timing. We'll be glad to set you up with an Automated Search program in RMLS or, you October visit the Condominiums For Sale in Vancouver WA page at our website, where we have endeavored to make it Easy for you to search by Neighborhood for Condos, with listings for condos from the entire RMLS. Some of the favorite Neighborhood Searches include Condominiums for sale on the Vancouver WA Waterfront; Condominiums for sale in Downtown Vancouver Washington, Vancouver Washington Luxury Condominiums for sale.
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.
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