This report is for May 2013 and the statistics come from the RMLS. Clark County Washington is seeing some strong residential real estate activity. Home prices are on the rise and so are the consumers. The amount of home selling is at the year 2007 at the height of the real estate boom. The buyers are looking and finding that it is difficult to find what they are looking for because of the low amount of homes for sale. On the other hand listings are up indicating that more people can sell their existing home and less owners are under-water with equity. Clark County is in a thriving sellers market and the pattern exist with muliple offers and homes selling in one day even hours. This is very positive and exciting to watch our market rebuild. Let's go ahead and look at the results:
New listings
Up 3.7% Compared to April
Up 23.6% Compared to May 2012
Closed sales
575 closed sales
The last time we had this amount of was August 2007
Closed sales exceeded April's number of 529 up 8.7%
Comparing May of 2012 closed sales up 21.6%
Pending Sales
740 Pending sales up 8.5%
682 pending for April
Up 32.6% compared to May 2012 (558 accpeted offers).
Year to date compared to 2012 same period
New listings up 16.6%
2,953 mutually accepted transactions and closed recorded sales up 22.8%
Sales Prices compared to 2012 same period
The average sale price is $243,600 up 15.5% last year the average was $211,000
The median sales price is $218,000 increased 21.1%
This time last the year the median was $180,000
Inventory
3.8 meaning it would take 3.8 Months to sell all of our listings at the rate of sale
May of 2011 it was 7.9, May of 2012 it was 5.7
Today's actual inventory July 12th, 2013
2006 Active listings
1245 Pending Sales
474 Short Sale Pending
289 Proposed To Be Built
116 Under Construction
137 Short Sales
83 REO Bank Owned
The actual number of inventory is 1127 after you subract the Short Sale Pending and the New Construction To Be Built
Thank you for reading this report. I hope this is a valuable resource with understanding our local real estate market. If you know a friend or co-worker looking to buy or sell please consider me. I am nver too busy for referrals. Please contact me with their name and phone number and I will contact them at my best convenience.
Best regards,
Bret Bucher
360-600-5555
