A Record High for Unit Sales; While Sales Price Easing for Vancouver WA Condos in July 2021.
This month we posted the highest Unit sales number ever. Prices continued their slide, even though we had one luxury condo sold. The strong unit-sales ensured the Active Inventory was below one-month's worth of Supply. Here are the highlights for this month:
- The Short term Condo Sales Price (3-Month Moving Average) fell almost $3k and is now at $324,785; which is up 7.88% compared to the prior July; and the 12-Month Moving Average is at 13.80% compared to the prior year;
- 91 Resale Condominiums were sold, which is up 21 units compared to July 2020, and 15 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 July 2020.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); down from 1 (1.42% of total) in 2020.
New let's check out my custom chart showing 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 July 2021
With the highest-ever one-month posting for unit-sales, the short-term trend has powered up to another high; with the long-term trend is in new-high territory as well.
Continuing on we have my custom chart for the Average Sales Price, showing both the short-term and long-term trends:
Continuing on we have 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
The current price-slide has been long and deep enough to now see the short-term line go slightly below the long-term line - this, at the height of the sales season. We'll want to watch this trend over the next few months as this behavior may turnaround quickly, as overall we are still in a strong seller's market.
Our remaining 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 easing slightly from last month's high; with Pending Sales maintaining its high level for the year; and Closed Sales rose to its highest level ever!
The middle graph shows Closed Sales Prices moving up from last month but not near the recent high; with New Listings Average Price lower than last month, and well below the yearly high.
The final graph shows a 3-Day decrease in the Average Days on Market; with the Median Days on Market moving up only 1 day - and still in a very, very low range. Both of these are showing we are in a very briskly paced market.
Thank you for visiting our Condos for Sale Report 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:
Vancouver WA Homes For Sale - July 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 July 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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