Unit Sales Continue to Lag with Prices Firming-Up for Vancouver WA Condos in June 2020.
Vancouver and Clark County has been stuck in "Phase 2" of "re-opening" of Businesses and loosening of the Quarantine rules. This has affected Condo sales more severely than the effect on the overall real estate market. Here are the highlights for this month:
- The Short term Condo Sales Price (3-Month Moving Average) moved up $8k and is now at $294,691; which is up +5.86% compared to the prior June; and the 12-Month Moving Average is at 0.76% compared to the prior year;
- 47 Resale Condominiums were sold, which is down 12 units compared to June 2019, and 10 more than last month;
- REO/Bank Owned Condominium sales remained at 0 units (0% of total); no change from 0 (0% of total) in June 2019.
- Short Sale /Pre-Foreclosure property sales were also 0 units (0% of total); no change from 0 (0% of total) in 2019.
Next I have prepared a custom graph to show the Units-Sold trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend June 2020
For the condo segment this should be one of the strongest postings for the short-term line yet, it is still near the bottom for the year. Overall Vancouver's short-term trend is up near the long-term line.
Continuing on I have prepared a graph for Average Sales Prices showing the short-term and long-term trends:
Continuing on I have prepared a graph for Average Sales Prices showing the short-term and long-term trends:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
At this point the short-term trend is near an all-time high, and the long-term is at an all-time high. With several luxury condos in Vancouver going under contract this summer we expect the price trend to become strongly positive soon.
The final grouping 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 easing from their strong move last month; while Pending Sales moved up even stronger than last month. Closed Sales moved up only modestly. The combined result changed Active Inventory by a gain of 0.4 months.
The middle graph shows Closed Sales at their highest level ever; with the New Listings Average Price coming in at one of its highest levels too.
The final graph shows Average Days on the Market actually moving up by a couple of weeks, as one of the long-on-the-market penthouse condos finally sold; with Median Days on Market dropping be a couple of days to an extremely low level.
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Thank you for visiting our Report for Condo Sales in 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 June like:
Vancouver WA Real Estate Sales Report for June 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 June 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 Condo Specialist 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.
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