2016 is going to be
another active busy thriving real estate market. You can expect your home
to be up 9% by the end of this year we are in the same market as 2015. What is
the motivation with these market trends? No doubt, Population increase as our
local market is possibly 5 years behind in housing and you can see it right in
plain sight, if you are in the market looking for a home you can feel the
pressure because the inventory is low and we are selling houses quickly. If
you are a home owner thinking about selling making sound decisions is critical,
you have to have a plan and a back-up plan especially if you are selling and
then buying in Clark County. Where are the buyers coming from?
They’re moving mostly from the Portland Metro Area, as Oregon is and has been
the number one State for migration for 3 consecutive years, and when you look
at that State population more than 50% live in the city of Portland so they see
the nice neighborhoods and excellent schools, reasonable taxes, and no income
tax in Washington State.
One way to eliminate the
competition as a buyer is to have a home built there are options available for
you, we can have a Pre-Sale where it is just like any sale you deposit an
earnest money and the builder finances construction figure 5 months to move in,
I have many satisfied clients that have gone that route and in this market the
day you get the key you have instant equity. Another option is to have a
custom home built, design-to-build.
We are watching and
seeing Clark County really take off new construction is up 22% with all kinds
of development and Clark County has the lowest vacancy rate in the whole
Portland Metro Area, as an example West Vancouver has a rate of 1.5% so yes
investors are looking at the prime real estate. Really low vacancy possibly one
of the lowest in the Nation in Clark County.
The "Hottest Real
Estate Market" is Seattle in the Nation and Portland is possibly number 2
so it is Busy, and when it is this busy you really want to have a great plan, I
cannot stress that anymore.
Another indication of an
improving market, we are seeing the upper-end properties sell meaning things
are changing for the better as more capital exchanges in our local real estate
market. Home builders cannot keep up with this demanding market even as we see
the lots being developed.
Let’s take a look at the
awesome results for 2015. If you know anyone looking to buy or sell please help
me expand my business, give me a call anytime 360-600-5555.
Closed Sales
667 up 28% compared to December 2014
Strongest December since 2005
Pending Sales
Consistent to 2014 up 4.1%
Down 18% from last month
New Listings
Up 2.1% consistent to 2014
Summary Year to
Date compared to this same period as 2014
Pending sales up 21%
Closed sales up 19.4%
Average sales price up 8.6% $298,300
Median sales price up 8.6% $265,000
Inventory
1.9 meaning it would take 1.9 months to sell the current
inventory
Today’s actual
inventory January 26, 2016
1124 Total
605 Sale Pending
125 Short Sale
96 Short Sale Pending
117 Under Construction
158 Proposed
22 Bankruptcy
24 REO Real Estate Owned, Bank Owned
Actual Inventory is 827 homes approximately (lower than 1.9)
Popular Area 2015
#1. 745 sales Evergreen area median sales price $224,200
#2 731 sales Camas median sales price $389,000
#3 630 sales Brush Prairie/Hockinson median sales $324,750
Description of New
Construction
400 Listed properties
117 Under construction
158 Proposed
120 Homes Not Proposed Vacant Turn Key Average Sq. Ft $211.00
Average Sq. Ft. 2418
Breaking Down the Sales in $75,000
increments 1 month history
|
1 -$75,000 = 2 Average
Sq. Ft 1162 $108.00 ft.
|
$76,000 - $151,000 = 21 Average Sq. Ft. 1,108 $108. Ft.
|
$152,000 - $227,000 = 105 Average
Sq. Ft. 1,412 $144 ft.
|
$228,000 - $303,000 = 164 Average Sq. Ft. 1,782 $146 ft. Median Sales Price $265,000
|
$304,000 - $379,000 = 75 Average Sq. Ft. 2,299 $148
ft.
|
$380,000 - $455,000 = 36 Average
Sq. Ft. 2,597 $159 ft.
|
$456,000 - $531,000 = 26 Average Sq. Ft. 3,027 $160
ft.
|
$532,000 - $607,000 = 16 Average Sq. Ft. 3,381 $168 ft.
|
$608,000 - $683,000 = 3 Average Sq. Ft. 4,255 $148 ft.
|
$684,000 - $759,000 = 3 Average Sq. Ft. 4,596 $155
ft.
|
$760,000 - $835,000 = 3 Average Sq. Ft 3,258 $223 ft.
|
$836,000 - $911,000 = 2 Average Sq. Ft. 3,266 $276 ft.
|
$912,000 - $987,000 = 2 Average Sq. Ft 4,121 $229 ft.
|
1 Million - 2 Million = 3 Average Sq. Ft. 4565 $263 ft
|
Twelve Month History -
Highest Sale from 2 Million to Ten Million 1 Sale $2,486,250 %92.25 Sales
Price verse List Price.
Vacancy Rate
West
Vancouver 1.5% lowest vacancy rate in the Portland Metro Area
Vancouver
whole 1.87%
Development and New
Construction
299
permits were issued in the fourth quarter up 23% in history an average of 175 permits for this quarter from 2006 -2015.
Valuation
of construction 121 Million up 22% from fourth quarter 2014 112 Million is the
historical average from 2005 – 2016
Residential
construction up 18% compared to fourth quarter of 2014 94 Million Dollars in
Residential New Construction
Lots
and Land
543
Preliminary approved lots up 85% compared to this same quarter as 2014 and 290
is an average in history from 2006 – 2015
Thank
You,
Bret
Bucher
360-600-5555
Broker
Realty
Pro Inc
Selling
properties since 2003
Real Estate Family since 1940
