Unit Sales Double from Last Year; with Sales Prices Backing-Off from Recent Highs for Vancouver WA Condos in May 2021.
Unit sales did Double (+1 unit over) this month compared to last year. Sale Prices continued to ease from their recent high; but, although up 21.5%+ over last year. Here are the highlights for this month:
- The Short term Condo Sales Price (3-Month Moving Average) fell over $18k and is now at $347,111; which is up 21.51% compared to the prior May; and the 12-Month Moving Average is at 16.70% compared to the prior year;
- 75 Resale Condominiums were sold, which is up 38 units compared to May 2020, and 4 more than last month;
- REO/Bank Owned Condominium sales came in at 0 units (0% of total); no change from 0 (0% of total) in May 2020.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); no change from 0 (0% of total) in 2020.
My custom chart below shows 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 May 2021
We continue to see both short-term and long-term lines moving upwards rapidly. The long-term trend remains in all-time high territory, with the short-term line very nearly so.
Next I have a custom chart for the Average Sales Price, showing both the short-term and long-term trends:
Next I have a 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
Prices have risen way to fast and too high of recent months, and we may now be seeing the early signs of push-back by the condo-buyers in this market. We will want to watch for more signs of this in the upcoming months.
My last set of 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 shows New Listings remaining strong; while Pending Sales slipped slightly; and Closed Sales moved up by 4 units this month.
The middle graph showing both the Closed Sales Price and New Listings Average Price at a strong level but, no where near their recent highs.
The final graph shows a 3-Day Increase in the Average Days on Market; with the Median Days on Market fell by one to 4 Days! Definitely still a Strong Seller's Market.
Thank you for visiting our Condo 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:
Homes for sale Vancouver WA - May 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 May 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(3)