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
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
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 **
