Per-Unit Home Sales Dump While Closed Sales Prices Rise Again for Camas WA in April 2020
This month the effects of the State's shut-down of non-essential travel shows Closed Sales dropping to 22 homes sold. However, we still have the residual momentum when it comes to sales Prices where Home Sales in Camas WA moved up to a new high. Here are the highlights for this month's report:
- The Short-Term Average Price Trend is strongly positive at 12.12% higher than last year ($61,186), a very strong bump-up from last month; with the 12-Month Moving Average also positive at 4.12%
- The Inventory level stayed unchanged at 1.8 months of supply for pre-owned homes.
- Approximately 22 Resale Homes closed in April 2020, compared to 34 Sold in 2020; which is 12 fewer (-35.3%) compared to last year, and 21 fewer than last month;
- REO/Bank Owned property sales were 0 units (0% of total); no change from 0 (0%) in 2019.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 1 (2.33%) in 2019.
The Average Sales Price is now at $565,994, which is approximately $145,508 higher than the Clark County average for this month (a robust increase from last month).
My custom chart for the number of homes sold (Unit-Sales) is below; and shows the Short Term and Long Term trends:
Camas Resale Home Sales - Units Sold Trend April 20
Where it had previously appeared the bottom for the year had taken place, this month's low posting allowed the short-term line to continue downwards. Confirming the downward bias, the long-term trend has also produced a sharp downward move. With the extension of the societal lock-down it is expected we'll see lower sales in Camas and other parts of our area.
The trend for Average Closed Sales Prices is now shown below; with the short-term posting another high; and the long-term trend still positive as well.
Camas Resale Home Sales - Average Sales Price Trend April 2020
As the economic constraints causing slowdown are only slowing being relaxed, it is expected that sales prices in the future will be constrained to some degree but, that is certainly not a foregone conclusion in a popular market like Camas.
The remaining three graphs come from the RMLS Statistics package showing this month's results in a mixed-graph-type format:
Camas Resale Home Sales Inventory & Days on Market - April 2020
The Inventory-by-Month graph shows both New Listings and Closed Sales retreating; with Pending Sales making a slight gain. Fewer new listings will make for a brisk market if demand does not drop off too much.
The middle chart shows Average List Price at one of its lowest levels in the past 12 months - which may be an expectation of price-challenges in the near term; while Closed Sales price came in somewhat strong. Will the slightly lower price for new listings get buyers back into the game? We'll need to keep an eye on that in the coming months.
Finally, the Average Days on Market fell by a whopping 42 days; and the Median fell by 25! Given the great slow-down in New Listings, the active buyers are quickly acting on what homes are available for sale.
Thank you for reviewing our Camas WA Home Sales Report. Please let me know how we can help you; or, help someone you know with their home Sale or Purchase needs in this fine community in SW Washington!
PS - we love to help our customers sell or buy their Camas home. Thinking of Selling or, just want to know what your real estate is worth? We offer a no-cost, no-obligation Camas WA Home Valuation, and invite you to try it out Today!
PPS - We also Love to help Camas Home Shoppers, and invite you to visit our page for Camas WA Homes for sale , where 16 neighborhood searches are set up, such as: Lacamas Shores Homes for sale, Homes for sale in Parker Estates, Homes for sale in Holly Hills, Camas WA; in addition to 7 category searches such as Condos for sale in Camas WA; Foreclosure Homes Camas WA, Property listings are from the entire RMLS.
The Camas Real Estate charts in this report (prepared by Camas WA Home Sales Broker John Slocum, our resident statistician) are based on home sales recorded in the Camas 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 the Camas real estate market.
Disclaimer: as with any real estate statistics, we always 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.