Vancouver WA Condo Sales - March 2021 Report

By
Real Estate Agent with Premiere Property Group, LLC - Vancouver Washington 88349

Unit Sales Blast-Off with Sales Prices In-Tow for Vancouver WA Condos in March 2021.


Unit sales are almost twice the level seen last year, partly because of a dip last year, while this year is in a super-strong bull-run. With a few luxury condo closings, Sale Prices hit a new high by taking a huge leap up. Here are the highlights for this month:

  • The Short term Condo Sales Price (3-Month Moving Average) leapt up about $28k and is now at $369,643; which is up 25.46% compared to the prior March; and the 12-Month Moving Average is at 13.92% compared to the prior year;
       
  • 73 Resale Condominiums were sold, which is up 27 units compared to March 2020, and 19 more than last month;
     
  • REO/Bank Owned Condominium sales remained at 1 units (1.37% of total); up from 0 (0% of total) in March 2020.
     
  • Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); no change from 0 (0% of total) in 2020.
The Active Inventory level sank 0.2 month's worth to end at the extremely low 0.5 month's-worth-of-supply.       

I have prepared the Unit-Sales chart below showing the Vancouver Condo market Units-Sold trends - both short-term and long-term:
 
Vancouver Washington Condo Sales March 2021 - Units Sold Vancouver WA Resale Condo Sales - Units Sold Trend March 2021
We see that the short-term line bottomed last month - and at a level far, far above last years bottom. The long-term trend was knocking at the door last month to a new high, and has powered well up this month to a new high! With super low Inventory, and if we don't get enough new listings, the unit-sales may struggle to hit higher levels.  

Continuing on, I have a custom chart for the Average Sales Price, showing both the short-term and long-term trends:

Vancouver WA Condo Sales March 2021 - Average Sales Price Trends Vancouver WA Resale Condo Sales - Average Sales Price Trend

Wow! This month we see that with a few luxury condo sales weighing in, along with the rest of the activity we have just a Huge Jump in the short-term trend line for Sales Prices! With Active Inventory in such low territory, we expect prices in this graph to fluctuate but overall remain very high.

These remaining charts show Unit Sales, Average & Median Prices; and Days on Market results (from RMLS chart-tools):

Charts of Vancouver WA Condo Sales Trends in March 2021 Vancouver Condo Sales Inventory & Days on Market Trends

Inventory-by-Month finds both New Listings and Pending Sales moved up strongly in nearly lock-step; a sure sign of a fast-paced market. Closed Sales moved up strongly too. It is easy to speculate that more sales would have occurred if there were more Condos available for sale!

The middle graph showing both the Closed Sales Price and New Listings Average Price, finds both of these measures in very high territory.

The final  graph shows an 8-Day Drop in the Average Days on Market; with the Median Days on Market dropping by 5 Days (cut in half)! Truly signs of a very brisk pace of sales for Condos in Vancouver!
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Thank you for visiting our Condo Market Sales Update for Vancouver WA. I'm happy 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 might like:

Vancouver WA Homes For Sale - March 2021
Battle Ground WA Homes For Sale - March 2021 Report
Camas WA Homes For Sale - March 2021 Report



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 March 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.

Comments (2)

Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your Vancouver WA condo market update with us. Buyers & sellers in your area would benefit from your services. Have a great day!

Apr 27, 2021 01:32 PM
Alexander- Slocum

Hi @DebeMaxwell, CRS - the Condo market is a very important part of our community and with such a rapid pace of sales, reports like this one has been helpful to both sellers and buyers. Thanks for stopping by!

Apr 27, 2021 07:12 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

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

Apr 27, 2021 09:40 PM