Vancouver WA Real Estate Market Update July 2023

Real Estate Agent with Premiere Property Group, LLC - Vancouver Washington 88349

New Sales Price High Attained, while number of properties Sold is still Greatly Reduced!

As we continue to see ever increasing interest rates for the main types of home loans, the number of Resale homes sold has remained much lower than anything we've seen in many years. (Sales of New Homes are not included in this report).

Our first chart shows the July-only comparison - 2022 vs 2023:

Year over Year Vancouver WA Real Estate statsFor this chart please remember that the slowdown we are in had begun prior to July 2022, and was still declining at a strong rate.

The graph coming up next shows how the Pending Sales started their decline in 2022; and the 2023 line is showing a somewhat seasonal "shape" although at a greatly lower level of activity:

Vancouver WA Chart of Pending Home Sales July 2023

Continuing on, the graph we show with a longer history (more years in the data) for Closed Sales is also showing some seasonal upturn in activity, although much much weaker than what we typically see:

Vancouver WA Real Estate Closed Sales Graph July 2023

In July the 3-month trend line finally pierced the 12-month line from below - although several months later than what we typically see; and at a much lower level of closed sales!

Last up we have the chart for Closed Sales Prices, which show an all-time high has been achieved for Vancouver Resale Homes:

Vancouver WA Home Sales Price Trend for Resale - July 2023

With a substantially reduced level of available Inventory, and a modest mis-match of Home Buyers (too many) chasing too-few Homes; we have a situation where prices can still rise.

Some other July tidbits we don't have charts for: the Number of New Listings fell from June's (high) level; we now have 1.3 Months of Active Inventory; CDOM (Cumulative Days on Market) = 33 Average; 14 Median which is higher than last month but still a rather brisk pace; the number of Closed Sales remained relatively Flat for the past 3 months at about 300 per month!

To be sure - Vancouver WA needs more Home Sellers! If you are looking to sell, please contact me soon, and I'll be glad to help you out.


Comments (3)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello John Slocum very valuable real estate market report for Vancouver, Washington July 2023.

Aug 31, 2023 05:35 PM
John Slocum

Hi John Pusa I'm glad you like our real estate market report for Vancouver, and thanks for stopping by!

Sep 01, 2023 05:38 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Vancouver home buyers and sellers are sure to value your real estate market report, John.

Aug 31, 2023 08:33 PM
John Slocum

Hi Myrl Jeffcoat - this is definitely a challenging market such that both Sellers and Buyers need to be aware of the conditions.

Sep 01, 2023 05:39 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

As usual another home run with your posts  we learn so much from you 

Sep 01, 2023 06:41 AM
John Slocum

Thanks Lise Howe for stopping by - much appreciated!

Sep 01, 2023 05:39 PM