*** 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 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 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):
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.
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
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.