Good Results for Real Estate Sales in Vancouver WA for November 2019; Prices Rose Slightly.
November's Vancouver WA Real Estate Sales came in with good unit-sales; wwhile the average sales price firmed up, reflecting the shrinking Inventory. Here are the key points for this month:
- 342 Resale Homes closed this month, which is 21 fewer (-5.8%) compared to this month last year; with 41 fewer than last month.
- The 3-Month Moving Average Price Trend Line held somewhat steady, and now at $370,178, with a year-over-year gain of 2.17% ; with the 12-Month Moving Average positive at 3.91%.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); no change from 0 in November 2018 (0% of total).
- REO/Bank Owned home sales were 2 units (0.6% of total); compared to 0 units in November 2018 (0% of total).
- The Active Inventory for Resale Residential Real Estate slipped 0.2 to a quite low 1.1 Months of Supply.
Mortgage Interest Rates increased ever-so-slightly, averaging 3.70% for the month, which is still at an extremely low level historically.
Next are my 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 November 2019
With very good results the past few months the seasonal trend is slowing but not too vigorously; whil the long-term trend is still showing a mild move in the positive direction.
The Average Sales Price trend-graph shown below, highlights the short-term line slowing its seasonal decline; with the long-term rising trend weakening:
Vancouver WA Resale Home Sales - Average Sales Price Trend
Although we've hit another high for prices this year, the increase in prices is clearly slowing. Affordability is becoming more of a challenge, and buyers are pushing back on how much they are willing to spend.
In November 2019 there were 31 properties (9.06%) that closed at $250,000 or less when sold. In comparison with the same month in 2018, 51 or, 14.04% of the sales were at $250k or below.
The last charts below come from RMLS, with a mix-mode to highlight real estate 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 all moved lower, with insufficient new Listings to help stem the decrease in Available Inventory.
The middle chart shows Average Prices, with the New List Price again coming in at one of its highest postings; while Closed Sales price were about the same level as last month.
Average Days on the Market increased by a few days; and Median Days decreased by about a day.
Thank you for reading our real estate 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 2020!
PS - We love to Sell Real Estate 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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