Seasonal Slowing in Unit Sales while still Stronger than last year; are combined with a Slowing Price Rise for Vancouver WA in August 2021.
The Pace of Sales and level of Active Inventory show we are still in a strong Seller's Market. Mortgage rates remain below 3% Real estate Prices in Vancouver WA slowed their rise to approximately $3k aver last month (up 19%+ year-over-year). Here are the key points for this month:
- 506 Resale Residential Properties closed this month, which is 83 more (19.62%) compared to the same month last year; and 80 fewer than last month.
- The 3-Month Moving Average Price Trend again posted a new high, and is now at $487,365, with a year-over-year gain of 19.15% ; with the 12-Month Moving Average at 17.84%.
- Short Sale /Pre-Foreclosure property sales were at 0 units (0% of total); no change from 0 in August 2020 (0% of total).
- REO/Bank Owned property sales were 3 unit (0.59% of total); up from 1 units in August 2020 (0.24% of total).
- The Active Inventory for Resale Residential Real Estate ends the month at a super-low level 0.7 Month's worth of Supply!
Interest Rates for residential real estate loans remained below 3.0% again to an average of 2.84% for the month - down from 2.94% last year.
Next up is my custom chart showing the Number of Properties Sold (Units-sold-volume) trend, for both short and long term trend lines:
Vancouver WA Resale Real Estate Sales -Units Sold Trend August 2021
The short-term line while still moving up, has slowed slightly, while hitting another all-time high. The long-term line is into another new all-time-high while it too is easing slightly.
Active Resale Inventory is at 0.7 Month's worth; a strong tell-tale sign we are in a seller's market.
We now show my custom Price-trends chart showing the short-term and the long-term trend lines:
Vancouver WA Resale Real Estate Sales - Average Sales Price Trend
The short-term trend has slowed so slightly that it is hard to see at this point in charted-line; while the long-term trend is still going strong.
In August 2021 there were 35 properties (6.96%) that closed at $300,000 or less when sold. In comparison with the same month in 2020, 50 or, 11.82% of the sales were at $300k or below.
These remaining charts are from RMLS, in a mix-mode format showing results for Unit Sales, Average & Median Prices; and Days on Market:
Vancouver Resale Real Estate Sales Inventory & Days on Market Trends
The first graph, Inventory-by-Month, shows New Listings and Closed Sales slipping quite a bit; with Pending Sales making a good move upwards. As a result we still have Scarce Available Inventory at any one point of time.
For the second graph, the Average Prices for Closed Sales and New Listings came in strong but slightly below the highs set last month.
Average Days on the Market moved up 4 days to the still brisk 15 days; while Median Days remained at a 5-day level - the 7th month at either 4 (mostly 4) or 5 days!
Thank you for visiting real estate market 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 latter part of 2021!
PS - We love to Sell Real Estate in Vancouver Washington. Are you in the market to sell your property? - the first step to take is to ask us to show me what My Property is Worth. We'll prepare a confidential Market Analysis and Valuation, and a road-map for the Real Estate Selling Process. Give us a Call - we'd love to help you out!
PPS - Real Estate 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 Real Estate 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 Real Estate Sales Broker, 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.
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