Seasonal Decline for Unit Sales; With Sales Price Moving Up Deliberately for Vancouver WA Condos in December 2021.
We are late in the Season and Unit's Sold are declining as we expect. For the year we have seen a record total. Prices for the short-term trend are currently coming in close to the rising long-term trend-line. Active Inventory remains at the extremely low 0.3-month's worth of Supply. Here are the highlights for this month:
- The Short term Condo Sales Price (3-Month Moving Average) gained eased $1,740 and is now at $335,808; which is up 14.63% compared to the prior December; and the 12-Month Moving Average is up 14.26% compared to the prior year;
- 60 Resale Condominiums were sold, which is down 1 unit compared to December 2020, and 4 fewer than last month;
- REO/Bank Owned Condominium sales came in at 1 units (1.67% of total); up from 0 (0% of total) in December 2020.
- Short Sale /Pre-Foreclosure property sales were 0 units (0% of total); no change from 0 (0% of total) in 2020.
Up next is 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 December 2021
We see at this time that the decline in Units Sold has been of such a magnitude to cause the long-term trend to decline as well (although not as steeply). Overall however, about 1/3rd more units have been sold this year.
Continuing on is my custom chart for the Average Sales Price, illustrating both the short-term and long-term trends:
Continuing on is my custom chart for the Average Sales Price, illustrating both the short-term and long-term trends:
Vancouver WA Resale Condo Sales - Average Sales Price Trend
The short-term line has finished the year below its peak, and has not moved much in the past 3 or 4 months. The long-term line is still rising but at this point it may be ready to stop rising. With Inventory quite low we do however expect to see prices at this level or, to begin rising again in the near term.
Our final charts for this report 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, Pending Sales and Closed Sales all in decline, which is typical for this time of year.
The middle graph shows both Closed Sales Prices and New Listings Average Price both posting reasonably strong marks this month but neither at their high for the year.
The final graph shows a 1-Day decrease in the Average Days on Market; with the Median Days on Market declining by 6 days. The market is still very fast-paced by any historical standards.
Thank you for viewing our Condos Sales 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 Real Estate for sale - December 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 Valuation 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 December 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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