Clark County Real Estate Report for October 2015

Clark County's real estate activty is seeing a massive surge. Capital is flooding the market incredible signs for the local economy. Amazing, 37 million dollar increase with permits in residential new construction compared to this time last year, and the builders can not keep up with the demand, as Clark County has a shortage in housing, and no doubt a strong competitive aggressive market. We still have a low inventory with homes on the market and soaring home prices, wow!  The rental market here in Clark County is possibly the lowest vacancy rate in the nation at 1.87% Clark County brace yourself it is going to get expensive to live here.

Lets take a look at the incredible data below:

Closed Sales

783 Best October since 2005

Better than September 674 sales

Sales up 16% Compared to October 2014

Pending Sales

765 up 27% since October 2014

New Listings

819 up 11% compared to October 2014

Year to Date

Pending Sales up 22%

Closed Sales up 19%

New Listings up 10%

Average and Median Sales Price Year to Date

Average up 8.7% $297,300

Median Sales Price up 9.5% $265,000

Inventory

2.2 meaning at the rate properties are listed and sold it takes 2.2 months

Real Actual Inventory for November 17th

1,066 actual Number of homes after the subtraction of short sale pending, proposed, under construction, and Bankruptcy.

(1,508 active listings, 177 Proposed, 148 Under construction, 96 Short Sale Pending, 43 Short Sales)

Description New Construction Inventory

115 Vacant Built 2015

148 Under Construction

177 Proposed

Terms of a Sale 30 days back

330 Conventional

114 FHA

86 Cash

45 VA

10 USDA

Breaking Down the Market Sales based at 75,000 increments

1.00  - $75,000 = 6

$76,000   -  $151,000 = 18

$152,000  - $227,000 = 126

$228,000  - $303,000 = 212

$304,000  - $379,000 = 120

$380,000  - $455,000 = 53

$456,000  - $531,000 = 33

$532,000  - $607,000 = 15

$608,000  - $683,000 = 10

$684,000  - $759,000 = 3

$760,000  - $835,000 = 1

$911,000  - $ 986,000 = ZERO

$987,000  - $1,062,000 = 0

$1,063,000 - $1,138,000 = 0

October 2015

819 New listings| 765 Pending Sales| 783 Closed Sales| Average sales price $307,900 | Median Sales Price $275,000 |62 Days Market Time

Highest Volume Area and Average Sales Price
1. Brush Prairie ($338,000) and Camas ($405,100) 64 sales
2. Evergreen ($259,100) 57 sales
3. East Hazel Del ($242,000) 47 Sales
3. N. Salmon Creek ($357,100) 44 Sales

Multifamily Market Rental Rates Vancouver Quarter 3

1 Bed 1 Bath Average $926.00  per month

2 Bed 1 Bath $1,013.00

2 Bedroom 2 Bath $1,183.00
3 Bed 2 Bath $1,313.00

Valuation of Construction per Clark County

Total Construction 134 million compared to 104 million same period last year

Residential Construction $112 million compared to 75 million same period 2014  up 49%

Lots and Land Division Quarter 3 per Clark County

755 preliminarily approved compared to 77 same period last year up 881%

Historically same period 2006 to 2015 preliminarily approved 172

Thank You for reading my report if you know anyone looking to buy or sell please let me know, I am never too busy for refferals.

Best Regards,

Bret Bucher

360-600-5555

Realty Pro Inc

** Equal Housing Opportunity **

Clark County and Vancouver Real Estate Report June and Quarter 2

Clark County is seeing strong results I could not believe my eyes as I saw 850 closed transactions for the month of June amazing! Looking at the positive the distressed properties are almost history, also it's great to see the best results with the amount sales I have seen since June of 2005. No one would have ever calculated this to be real as Clark County was hit very hard down 55% in 2011 with home prices. Historically Clark County had a mid 1990's Housing Boom, at one point Clark County was the top County in America for sprawling growth. In 2005 home prices were no doubt seeing increases of 22.% in area's of Clark County.

The Market is very regulated with the loan industry, in short, lets look at the report cash sales are the second highest transaction in Clark County and has been for a couple years, there is no Housing Bubble when a large majority are bought with cash. The rental marking in Clark County has a vacancy rate of 2.05% that is very low, and the recourse is the rents will increase, bottom line it is going to get expensive here in Clark County as home prices are going up and so is the rent.

Closed Sales since June 2014
850 up 34%
Second highest since June 2005 which had 949 closed transactions

Pending verse June 2014
894 up 24.9%
716 June 2014

Average and Median Home Sales Price compared to 2nd Quarter 2014
Average $288,700 up 9.2%
Median $259,000 up 10.6%

Inventory Per RMLS
2.1 meaning it would take 2.1 months to sell existing inventory at the rate listed and sold

Real Live actual Inventory 07/17/2015
1793 Listed For Sale
188 Proposed to be built
146 Under Construction
134 Short Short Sale Pending
37 Short Sales
32 REO Real Estate Owned (Bank Owned)
12 Bankruptcy
Meaning 1,412 actual real houses you could walk through and close in a typical manner, an overall ideal of the real actual numbers of houses.

Breaking the Market Down in Sales Brackets based at $75,000
1-$75,000 = 9 sales
$76,000 - $151,000 = 34 sales
$152,000 - $227,000 = 181
$228,000 - $303,000 = 257
$304,000 - $379,000 = 157
$380,000- $455,000 = 63
$456,000 - $531,000 = 45
$532,000 - $607,000 = 31
$608,000 - $683,000 = 13
$684,000 - $759,000 = 13
$760,000 - $835,000 = 4
$836,000 - $911,000 = 2
$1,064,000 - $1,139,000 =1
The End Of The Market Per RMLS Sales on Residential Single Family Homes.

Terms of a Sale 30 days back
Conventional Financing  = 786 (excuse the typo)
Cash Sales = 741
FHA = 596
VA = 532 Thank You For Serving America 
USAD = 55

Multifamily Real Estate Apartment's Vacancy Rates Clark County
2.05% Incredibly Low No doubt some of the lowest Vacancy Rates in America, I decided to just focus on Clark County per month Apartments Average Rents.
1 Bed 1 Bath $853.000
2 Bed 1 Bath $932.00
2 Bed 2 Bath $1,083
3 Bed 2 Bath $1,203

Residential Development Activity Lots
Up 33 % 272 Permits were issued for Construction To Build Homes compared to 2014
Historically from the years 2006 to 2015 194 permits to build were issued by Clark County

Population Boom
Clark County is way up $9,020 in population from April 2014 to April 2015.
Oregon has been the number 1 State for migration for the past 2 years, while Washington State has been the 3rd best State Washington States population has increased by 6% since 2010. Half of Clark County's buyers come from Portland.





Thank You,

Bret Bucher
Realtor/Broker
360-600-5555






$760.000 

Clark County and Vancouver Real Estate Report March and Quarter 1

Clark County's residential real estate market is white hot. The market is healthy and strong because of low interest rates, a shortage of housing, and no doubt a rising population. People migrate to Washington State and possibly Washington is the 3rd best State. Clark County is very attractive to people in the Portland Oregon Metropolitan area. 

 If you are a buyer looking for a home education on the market is critical, and learning how to position yourself in this demanding market is important, it could "make or break" an offer because of competing offers on some houses. The consumer should explore all options with financing, as an example a Credit Union has low rates and low closing costs, so if you need a seller to contribute to financing low closing costs will make your offer look better to a seller because we are seeing multiple offers on properties so positioning yourself in the market will benefit you. Having a great buyers agent not just to find the home but to navigate through the transaction is very important. Real Estate is very dynamic starting with negotiation on the purchase price, inspections, appraisal, and underwriting. With rising home prices the appraisal is a challenge in this strong increasing market. The consumer should always be an "Arms-Length" away from another party in a transaction.

I heard on KXL how home buyers are knocking on the doors of home owners giving them letters why they want the home and that is a big No-No because of Federal Fair Housing Laws. A seller could be accused of Discrimination, so always keep an arms length away from buyer or seller very serious and important. Buyer and Seller should not have discussions at all.

As a seller, having a plan to sell your home is important because your home has a great opportunity to sell depending on what your valuation is, as you can see this report the market is white hot but not in all price ranges. A seller needs a plan on where to go when the home sells because inventory is low. The market is very demanding so understanding the market and how to get from point A to B needs to be well planned out.

New construction for developers and home builders wow they got their cards right this time because subdivisions to develop can take up-to 3 years to complete and watch the inventory enter the market. Just the Battle Ground School District has 1,500 homes coming on the market, and 600 multifamily units. Possibly 1,000 students could enter the district over several years. This video below is current development from NE 119th Street to NE 179th ST from NE 20th Ave to 152nd Ave. These photo's were taken April 19th, 2015. And by the way, the Portland Metro area is 6 years behind on the multifamily units and guess where the real estate is? Yes, Clark County has the planning and the Prime Real Estate! 

Closed Sales

612

Up 32.8% since March 2014

Pending Sales
884
Up 31.2% since March 2014
Up since February 2015 by 32.7%

Inventory Per RMLS
2.6 meaning it would take 2.6 months to sell the current inventory.
1,570 homes listed for sale.

April 22, 2015 actual live inventory
927 real homes to walk through
1,498 report active but after you subtract the short sale pending, proposed to be built, under construction, and bankrupt.
227 proposed to be built
167 short sale pending
161 under construction
37 short sales
45 Real Estate Owned (REO) Bank Owned

30 day's back residential
611 Sold Homes
857 Sale Pending


Average and Median Home Sales Price compared to this same period 2014
The Average  $277,900 up 9.4%
The Median $254,100 up 9.1%  (2014 same period $226,500) The Majority of all sales in Clark County, while Portland is $289,000

Price Activity 30 Days Back - Rates of Absorption 
    1 - $100,000 = 27 Sold
101 - $200,000 = 133
201 - $300,000 = 250
301 - $400,000 = 111
401 - $500,000 = 41
501 - $600,000 = 27
601 - $700,000 = 5
701 - $800,000 = 4
801 - $900,000 = 3
901 - $1,000,000 = Zero

Financing terms 30 days back highest to lowest
Conventional
Cash
FHA
VA
USDA

Area Activity
#1. Evergreen 64 closed sales
#2. Camas 49 closed sales
#3 Battle Ground 44 closed sales, and East Hazel Del 44 closed sales
#4 North Salmon Creek 37 closed sales

4th Quarter Development Activity Per Clark County 2014
243 residential permits issued
Up 28% Compared to this same Quarter of 2013
The permit average is 196 compared from 2005 to 2014
Total volume of permits 99 Million down 18% compared to 2013
The historical average from 2005 -2014 is 159 Million
 Division of Lots 294 down 34% Historically 271 lots from 2005 - 2014

If you want to be removed from my report just let me know, thank you.

If you know anyone looking to buy or sell, I am never too busy to help a future client.

Thank you,

Contact:
Bret Bucher
360-600-5555 Cell Phone call anytime.
Real Estate Broker

Realty Pro Inc.

** Equal Housing Opportunity** 

The information supplied herein is from sources deemed reliable but not guaranteed.  Some of the statistics come from the RMLS.  Realty Pro INC or Bret Bucher accepts no responsibility should the information prove to be inaccurate or incomplete. This report was created by Bret Bucher and the consumer needs to verify all information.