Prices Spike While Unit Sales Fall for Vancouver WA Condos in December 2019.
Extremely low Available Inventory is one of the reasons prices have been rising strongly, and causing lower Unit sales this month. This market needs more condos for sale, and more newly constructed condos. Here are the main points for this month:
- The Short term Condo Sales Price (3-Month Moving Average) moved up strongly this month by about $14,000; reducing the gap from last year to about- $3,222 which is -1.1% compared to the prior December; with the 12-Month Moving Average also in negative territory at -2.25% compared to the prior year;
- 35 Resale Condominiums were sold, which is down 9 units compared to December 2018, and 13 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 December 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 dropped, 0.6 months-worth, ending the month at 0.8 months-of-supply.
I have prepared the custom charts below illustrating the Unit-volume trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend December 2019
The short-term line is now well below the long-term line, with the long-term trend holding stead - to slightly rising. Clearly this is a popular category of home in this area.
The next chart shows Average Sales Prices with the short-term trend still shooting upwards strongly!:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
At this point we are confident that the price action will consistently move upwards again, absent any major underlying change in the overall Economy.
Our last 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 New Listings and Closed Sales dropping; while Pending Sales held steady - the combination of these three made certain Active Inventory took a huge hit.
The Price graph shows both the New Listings Average Price and Closed Sales at high levels.
The Average Days on the Market fell by a few days, and Median Days on Market rose by a few days. Not unseal to see mixed action at this time of year.
Thank you for viewing our Condo 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 Home Sales Report for December 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.