Property / Unit Sales Slower, with another Slight Price Rise for a New Record High for Vancouver WA in February 2022.
2021 was an extremely strong market that consumed nearly every piece of available Inventory. Now we see modestly reduced Unit Sales compared to last year, a result that shouldn't be too surprising. Prices are still seeing pressure to move up, and although the gain was small they still achieved another New High. Super Low Active Inventory is clearly hampering unit sales so far this year. Mortgage rates have moved up strongly to 3.76%. Here are the highlights for this month:
- 294 Resale Residential Properties closed this month, which is 26 fewer (-8.2%) compared to the same month last year; and 37 more than last month.
- The 3-Month Moving Average Price Trend rose to a new high, and is now at $496,775, with a year-over-year gain of 12.89% ; with the 12-Month Moving Average at 16.46%.
- Short Sale /Pre-Foreclosure property sales were at 0 units (0% of total); no change from 0 in February 2021 (0% of total).
- REO/Bank Owned property sales were 0 units (0% of total); down from 1 units in February 2021 (0.31% of total).
- The Active Inventory for Resale Residential Real Estate finishes the month at the super-low 0.2 Month's worth of Supply!
Interest Rates for residential real estate loans went to the upper 3% range with an average of 3.76% for the month - up from 2.81% last year.
Next up is our 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 February 2022
We are now at the point to expect the end of the seasonal downward trend, and we expect an up-turn very soon. The Long-Term line is drifting lower, ever so slowly.
Active Resale Inventory remained at the low 0.2 Month's worth - clearly, home buyers don't have much to select from at any point in time.
Now we have our 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 is moving up although at a slower pace than seen in most of 2021. The long-term trend is also rising at a lessening slope.
In February 2022 there were 19 properties (6.46%) that closed at $300,000 or less when sold. In comparison with the same month in 2021, 35 or, 10.97% of the sales were at $300k or below.
Our last set of 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 showing Inventory-by-Month, with all three elements rising although Pending Sales slightly lagged behind New Listings.
For the second graph, the Average Prices for Closed Sales and the Average Prices for New Listings both came in at their all-time highs.
Average Days on the Market fell came in at 17 days; while Median Days remained at the quite low 5 days.
Thank you for visiting our real estate sales report for Vancouver WA. We're glad to help you with any questions, or requests for assistance with your home purchase or sales needs into 2022!
PS - We love to Sell Homes 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 Vancouver WA 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 - Home 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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