Unit Sales Blast-Off with Sales Prices In-Tow for Vancouver WA Condos in April 2021.
An almost-Doubling of Unit sales was posted this month compared to the same month last year. Sale Prices eased slightly after rising like a skyrocket last month; but, are still up 25%+ over last year. Here are the key points for this month:
- The Short term Condo Sales Price (3-Month Moving Average) eased just over $4k and is now at $366,830; which is up 25.54% compared to the prior April; and the 12-Month Moving Average is at 15.65% compared to the prior year;
- 71 Resale Condominiums were sold, which is up 35 units compared to April 2020, and 3 fewer than last month;
- REO/Bank Owned Condominium sales remained at 1 units (1.41% of total); up from 0 (0% of total) in April 2020.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); no change from 0 (0% of total) in 2020.
The custom chart below has been prepared to show the Unit-Sales for the Vancouver Condo market Units-Sold trends - both short-term and long-term:
Vancouver WA Resale Condo Sales - Units Sold Trend April 2021
This year both short-term and long-term lines are racing upwards, and the short-term trend has been able to cross above the long-term line this month. The long-term trend is clearly in all-time high territory! With such a small overall condo market we may be seeing an upper limit soon to the number of these types of homes being sold.
Next up is my custom chart for the Average Sales Price, showing both the short-term and long-term trends:
Next up is my custom chart for the Average Sales Price, showing both the short-term and long-term trends:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
Seeing how far upwards prices moved last month, it is no wonder that a slight easing is seen this month. With few luxury condo closings on the horizon, there may be further "easing" in the near term.
My final charts 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 all three: New Listings, Pending Sales and Closed Sales have all eased slightly this month.
The middle graph showing both the Closed Sales Price and New Listings Average Price easing slightly with the previous three months posting higher numbers.
The final graph shows an 14-Day Drop in the Average Days on Market; with the Median Days on Market remaining at the super-low 5 Days! This is clearly a Strong Seller's Market.
Thank you for viewing our Condo Market Sales Update 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 might like:
Real Estate for sale Vancouver WA - April 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 April 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 (1)Subscribe to CommentsComment