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.