Vancouver WA Condos For Sale - May 2020 Report (backup)

By
Real Estate Agent with Premiere Property Group, LLC - Vancouver Washington 88349
*** The original posting of this report was (temporarily?) "Lost" due to a Cloud-Outage; and has been reposted here, and will be removed if the original is restored ***

Continued Fall in Unit Sales and Prices for Vancouver WA Condos in May 2020.


With the Slow Re-opening of the Washington State economy, we are posting decreases in sales and prices for condos. However, new listings and pending sales are picking up so we'll need to watch to see what the longer term adjustments are. Here are the key points for this month:

  • The Short term Condo Sales Price (3-Month Moving Average) fell about $5k and is now at $285,671; which is up +3.55% compared to the prior May; with the 12-Month Moving Average is at 0.14% compared to the prior year;
       
  • 37 Resale Condominiums were sold, which is down 20 units compared to May 2019, and 1 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 May 2019.
     
  • Short Sale /Pre-Foreclosure property sales were also at 0 units (0% of total); no change from 0 (0% of total) in 2019.
The Inventory level fell this month 0.2 to end the month at 1.4 months-of-supply.       

My custom chart up next shows the Units-Sold trends - both short-term and long-term:
 
Vancouver Washington Condo Sales May 2020 - Units Sold Vancouver WA Resale Condo Sales - Units Sold Trend May 2020
At a time of the year where unit-volume should be strongly upwards, we are instead seeing a side-ways zig-zagging motion. Without a doubt this segment of the overall real estate market has been hit very hard.

Next I have my chart for Average Sales Prices highlighting the short-term and long-term trends:

Vancouver WA Condo Sales May 2020 - Average Sales Price Trends Vancouver WA Resale Condo Sales - Average Sales Price Trend

While peaking a couple of months ago, the short-term trend is retreating, while the long-term trend is going horizontally.

The remaining set of graphs show Unit Sales, Average & Median Prices; and Days on Market results (from RMLS chart-tools):

Charts of Vancouver WA Condo Sales Trends in May 2020 Vancouver Condo Sales Inventory & Days on Market Trends

Inventory-by-Month finds New Listings resuming an upward swing; while Pending Sales also moved up but not as strongly. Closed Sales only moved up by 1 unit. This month the combined impact was to see Active Inventory fall by 0.2 months.

The middle graph shows Closed Sales prices similar to last month; with the New Listings Average Price coming in extremely strong due to several new listings in the luxury category.

The final graph shows Average Days on the Market declining by several days; with Median Days on Market remaining about the same.
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Thank you for viewing our Condo Sales Report for Vancouver WA.  We'll be 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 May 2020




PS
- We love to help Condo Owners Sell their home. This market segment is still very popular, and now is a great time to call to get started with a Market Value for your Vancouver WA Condo, and to learn more on how the sales process works in this fast-paced market.

 PPS - I also love to help Condominium Buyers!  Contact us at your earliest convenience and discuss your interests and timing.  We'll be glad to set you up with an Automated Search program in RMLS or, you May visit the Condominiums For Sale in Vancouver WA page at our website, where we have endeavored to make it Easy for you to search by Neighborhood for Condos, with listings for condos from the entire RMLS. Some of the favorite Neighborhood Searches include Condominiums for sale on the Vancouver WA Waterfront; Condominiums for sale in Downtown Vancouver Washington, Vancouver Washington Luxury Condominiums for sale.  


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.

Comments (2)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Alexander- Slocum this is valuable information for Buyers and Sellers in your area.

Jul 19, 2020 03:17 PM
Alexander- Slocum

Hi George Souto - glad you like our Vancouver WA market report and thanks for stopping by!

Jul 22, 2020 02:41 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Vancouver home buyers and sellers are sure to value your real estate market report, Alexander - Slocum.

Jul 20, 2020 12:04 PM
Alexander- Slocum

Hi Myrl Jeffcoat - we appreciate your support in our market reporting endeavors, and thanks again for stopping by!

Jul 22, 2020 02:42 PM