Prices for Home Sales Shoot-up to a New High; with Unit-Home-Sales at a Brisk Pace for Vancouver WA in March 2021.
Home Sales in Vancouver WA have been going stronger and earlier this year compared to any time in the last 10 years. Active Inventory available at any one time is consumed so very quickly. Home Loan rates rose to slightly above 3%; which is still extremely low on a historical basis. Here are this month's highlights:
- 379 Resale Homes closed this month, which is 61 more ( 19.18%) compared to the same month last year; and 61 more than last month.
- The 3-Month Moving Average Price Trend moved up approx $7k from last month, and is now at $446,817, with a year-over-year gain of 17.18% ; with the 12-Month Moving Average at 15.58%
- Short Sale /Pre-Foreclosure property sales were at 0 units (0% of total); no change from 0 in March 2020 (0% of total).
- REO/Bank Owned home sales were 2 units (0.53% of total); down from 4 units in March 2020 (1.26% of total).
- The Active Inventory for Resale Residential Real Estate in now at 0.4 Month's worth of Supply!
Interest Rates for Home Loans are now in the low "3's" and came in at an average of 3.08% for the month - down from 3.45% last year. We've been in the 3's and even 2's for a while now, and it has certainly generated a ton of purchase loans and refinances.
Next up is my custom chart (below) showing the Number of Homes Sold (Unit-volume) trend, for both short and long term trends:
Vancouver WA Resale Home Sales -
Units Sold Trend March 2021
This month the short term line appears to still be falling however, we suspect it is at its bottom for the season; while last year at this time it had already started to rise. The long-term trend had recently been in its strongest rise that we've seen in 10 years, and now appears to be moderating - most likely to the lack of Inventory.
Next we see the Average Sales Price trend has ended its pause and resumed moving upward strongly. The long-term trend is still moving upwards at a strong pace:
Vancouver WA Resale Home Sales - Average Sales Price Trend
We are now at 0.4 month's Supply of Active Inventory - which is one-tenth of a point above the lowest point I've ever seen. This strong imbalance in our market will be difficult to recover from.
In March 2021 there were 32 properties (8.44%) that closed at $300,000 or less when sold. In comparison with the same month in 2020, 58 or, 18.24% of the sales were at $300k or below.
Our final charts come from RMLS, using a mix-mode format showing results for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Home Sales Inventory & Days on Market Trends
The first graph shows Pending Sales nearly matching New Listings and although they both moved up strongly there is little improvement in Active Inventory. Closed Sales also moved up strongly compared to last month and last year.
The second chart shows a repeat of record levels for both the Average Prices for New Listings and for Closed Sales.
Average Days on the Market fell 2 days - which is the lowest for the past 12 months; while Median Days remained at 4 days - both are showing extremely brisk sales for this time of year.
Thank you for viewing our home sales report for Vancouver WA. We're glad to help you with any questions, or requests for assistance with your property purchase or sales needs in 2021!
Like to see more like this? Then you might like:
Vancouver WA Condo Sales - March 2021 Report
Battle Ground WA Homes For Sale - March 2021 Report
Camas WA Homes For Sale - March 2021 Report
PS - We love to Sell Homes in Vancouver Washington. Are you in the market to sell your property? - the first step to take is to ask us to find out what your home will Sell For. We'll prepare a confidential Market Analysis and Valuation, and a road-map for the Home Selling Process. Give us a Call - we'd love to help you out!
PPS - Home Shopping or, looking to right-size to another Home or Condo? We wouldn't have a real estate market if there weren't home buyers, and we love to help Home Buyers! As a part of our service we make it ease to Search all the available Homes for sale in Vancouver Washington or, separately Search all the available Condos for sale in Vancouver WA. We've put much custom work in to make it Easy for You to search by Neighborhood or by Category, with Homes and real estate listings from the entire RMLS. Sign-up is Not Required but recommended as you can Save your own custom search!
This report and custom charts (prepared by John Slocum Vancouver WA Home Sales Agent, our resident statistician) are based on home sales posted in the Vancouver 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 Vancouver WA's real estate market.
Disclaimer: as with any 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.