Rapid Price Rise Continues with an Up-tick in Unit Sales for Vancouver WA Condos in January 2020.
We enter the new year with increased interest in Condos across almost all price tiers, although we are still plagued by abnormally low Available Inventory. Rapidly rising prices is a natural result. Here are the highlights for this month:
- The Short term Condo Sales Price (3-Month Moving Average) continued its strong upward move this month by almost $6,000; which is +10.34% compared to the prior January; with the 12-Month Moving Average in negative territory at -0.36% compared to the prior year;
- 49 Resale Condominiums were sold, which is up 7 units compared to January 2019, and 14 more than last month;
- REO/Bank Owned Condominium sales are still at 0 units (0% of total); no change from 0 (0% of total) in January 2019.
- Short Sale /Pre-Foreclosure property sales were also at 0 units (0% of total); down from 1 (2.4% of total) in 2019.
The Inventory level dropped, 0.1 months-worth, ending the month at 0.7 months-of-supply.
The custom charts below have been created to show the Unit-volume trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend January 2020
The short-term line this month has arrested the Fall-Winter decline by going sideways. There may be a good chance this will rise next month with strong Pending sales posted this month.
The next chart for this month shows Average Sales Prices with the short-term trend still shooting upwards strongly!:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
Although the slope (rate of change) in the price increase has lessened this month, it is still quite strong especially for this time of year.
These 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 all components; New Listings, Pending Sales and Closed Sales rising nicely; although Active Inventory slipped 0.1 Month.
The Price graph shows New Listings Average Price coming in at one of the higher levels for the past 12 months; and Closed Sales came in slightly below the level seen the past two months.
The Average Days on the Market vaulted to over 60 days (once considered a normal interval in the "normal" years) as "older" listings have finally sold; with Median Days on Market falling by about a week . We'll likely see the Average DOM fall lower in the upcoming months.
Thank you for visiting my 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 January 2020
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.