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
