Sales Results Firm Up for Vancouver WA Condos in November 2019.
Unit sales this month matched last year's results. In addition, upward revisions by RMLS to previous results show Unit-Sales to be almost "caught up" to last year's year-to-date level. Average Sales Price also firmed up, no doubt owing to a low-Inventory level. Here are the main points for this month:
- The Short term Condo Sales Price (3-Month Moving Average) moved up strongly this month from last month; but now down about $19k from last year to $276,504 which is -6.45% compared to the prior November; with the 12-Month Moving Average also in negative territory at -2.03% compared to the prior year;
- 46 Resale Condominiums were sold, which is the same number of units sold in November 2018, and only 2 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 November 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.
The Inventory level fell quite a bit, this time 0.3 months-worth, ending the month at 1.4 months-of-supply.
The custom charts I've posted below show the Unit-volume trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend November 2019
As short-term line heads towards the long-term line, we see the long-term trend holding steady - a sure sign the number of units-sold has been catching up.
My next custom chart shows Average Sales Prices, with the short-term trend making a late-season reversal and going upwards!:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
This "Consolidation" phase for average sales prices has been showing us a fair amount of up-and-down action. With the Available Inventory at such a low level we expect to see more firming and a resumption of the longer-term upward trend.
The final 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, New Listings and Closed Sales dropping - the combination of these three elements ensured Active Inventory would fall substantially.
The Price graph shows both the New Listings Average Price and Closed Sales moving upwards strongly.
Both the Average Days on the Market and Median Days on Market rose strongly but, with the volume level it is a reflection of the market "clearing out" older listings - in essence a reasonably good sign this month
Thank you for viewing our Condominium Sales 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 Real Estate Sales Report for November 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.