The Clark County Real Estate Market is strong and steady despite we are seeing the market transition in a direction of a normal market. First of all, the total market time is 41 days that is a strong number and the reason why is because the affluent homes are selling quickly which impacts the DOM days on market, in September of 2016 DOM was 42, indicating we are still in a hot market. On March 15th, 2017 from $304,000 -$379,000 there was 123 sales, today there was 206 sales and the median home price is up 9.2% very consistent to and the average sales price again is consistent at 9.7%.
Misinformation is on the rise in our local market we are not in a buyers market that is a myth and the reason why is we have 2.9 inventory, yes we have seen a rise with inventory in September of 2016 the inventory was 2.1, today 2.9 months to sell our current inventory, that is an incredible low number of inventory.
The motivation that has fueled our market in five years is Net Migration - which has slowed down slightly the State has estimated that figure down by 1,500 as we saw about 10,000 a year migrate since 2013 now it's 8,500.
New Construction has a huge amount of Residential permits at 123 Million Dollars up to Q3 which means a homeowner has been and currently is competing with Brand New Homes and a lot of them. Another key point is lot and land division is down 81% which could indicate less inventory in the near future.
The average married-couple earned $95,282 the most ever up 8% indicating the market is going to remain strong our local economy is great. Other residential indicators are 2.1% low vacancy rate and high rents for tenants in an apartment.
Please support my cause and help me expand my business, if you have a family member or a friend looking to buy or sell please give me a call 360-600-5555 I am knowledgeable with our market. Thank You Very Much, Bret Bucher, Broker, Realty Pro Inc. "Go With a Pro", we believe in your cause and I want to educate you. Help me expand my business call anytime 360-600-5555 Education is key how to position yourself in a market is critical.
Closed Sales
9.7% Down from September 2017 w/677 Closings compared to 750
17% Down compared to August of 2018
New Listings
0.7% Down compared to September 2017
12.2% Down compared to September 2018
Pending Sales
1.6% Down compared to September 2017
15.1% Down compared to August 2018
Year to Date Summary
New listings up 5.9%
Closed sales down 0.2%
Pending sales down 0.9%
Inventory per RMLS
2.9 for September 2018
(2.3 for July, 2.1 June, 1.6 March 2018 )
Actual Real Inventory November 6th, 2018
1497 live number after the subtraction of Bankruptcy, Short Sales, under construction,
and proposed to be built.
and proposed to be built.
( February 21, 2018 the live tally was 748)
New Construction Description Active Listings
Proposed: 193, under construction 166, new construction 265
Average Sq. Ft. 2231
Average list price $471,725
Residential New Construction Activity Q3 2018
Single family residential permits: 375 permits up 2% compared to 2017 Q3,
historically from 2009 -2018 243 permits.
historically from 2009 -2018 243 permits.
Valuations: A whopping 123 Million down 5 million from Q3 2017 a 4% decrease.
Land and Lot Division: 103 lots Q3 down 81% compared to 549 Q3 2017,
historically from 2009-2018 the amount is 169.
historically from 2009-2018 the amount is 169.
YTD 2018: 1,297 Permits, lots and land 523.
Overall Average Sales in $75,000 increments 1 month history 11/06/2018
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$1 - $75,000 = 5 Average Sq. Ft 985 In-Park DOM 28
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$76,000 - $151,000 = 8 Average Sq. Ft. 1456 In-Park DOM 58
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$152,000 - $227,000 = 28 Average Sq. Ft. 1,139 DOM 25
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$228,000 - $303,000 = 111 Average Sq. Ft. 1,391 DOM 33
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$304,000 - $379,000 = 206 Average Sq. Ft. 1,745 DOM 37 Median Sales Price $350,000
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$380,000 - $455,000 = 103 Average Sq. Ft. 2,164 DOM 47
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$456,000 - $531,000 = 66 Average Sq. Ft. 2,595 DOM 58
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$532,000 - $607,000 = 34 Average Sq. Ft. 3,030 DOM 64
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$608,000 - $683,000 = 15 Average Sq. Ft. 3,264 DOM 56
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$684,000 - $759,000 = 11 Average Sq. Ft. 3,280 DOM 78
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$760,000 - $835,000 = 3 Average Sq. Ft. 3,319 DOM 85
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$836,000 - $911,000 = 1 Average Sq. Ft. 4,621 DOM 45 DOM-Down-55-Days
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$912,000 - $987,000 = 7 Average Sq. Ft 3,490 DOM 60
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1 Million - 2 Million = 9 Average Sq. Ft. 4,833 DOM 57 **** “Hot Market”
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The highest sale Tide Water Cove Condominium 1 day on the Market Cash Financing reaching
exceeding list price 113.84% 1 Day on the Market Sold $1,250.00 List price: $1,098.000
exceeding list price 113.84% 1 Day on the Market Sold $1,250.00 List price: $1,098.000
Compare and Contrast Q2 to Q3 Market Conditions 2018
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$1 -$75,000 = Less Sq. Ft. 114
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$76,000 - $151,000 = Sq. Ft. up 317 DOM up 17 days
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$152,000 - $227,000 = Sq. Ft. down 3 Ft. DOM down 10 days
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$228,000 - $303,000 = Sales down by 40 Sq.Ft up 51 Ft. DOM up 12 days
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$304,000 - $379,000 = Sales down 35 Sq.Ft down 53 Ft. DOM up 16 days
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$380,000 - $455,000 = Sales down 35 Sq.Ft. down 94 Ft.DOM up 14 days
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$456,000 - $531,000 = Sales down 16 Sq. Ft. up 28 Ft. DOM up 8 days
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$532,000 - $607,000 = Sales down 4 Sq. Ft up 28Ft. DOM up 8 days
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$608,000 - $683,000 = Sales up 2 Sq. Ft up 121 Ft. DOM 26 days
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$684,000 - $759,000 = Sales down 7 Sq. Ft down 210 DOM up 24 days
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$760,000 - $835,000 = Sales down 8 Sq. Ft. down 457 DOM down 11 days
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$836,000 - $911,000 = Sales down 4 Sq. Ft up 827 DOM down 55
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$912,000 - $987,000 = Sales up 3 Sq. Ft. down 1,495 DOM up 40 days
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1 Million - 2 Million = Sales up 4 Sq. Ft. up 765 DOM up 28 days
|
Average and Median Home Sales Price Q3
Average up 9.2% - $387,300
Median up 9.7% - $350,000 Highest ever median sales price - majority of all transactions.
Net Migration - Population Increase
703,000 people have migrated to Wa. since 2010. Vancouver Wa. is 2nd to Seattle.
Clark County 2017 the estimated population was 471,000 for 2018 the number is 479,500
indicating the fluctuation is slightly declining.From 2017-2018 8,500 have migrated
estimated by the Office of Financial Management Washington State. Average annual
change since 2010 is 6,767.1 the heavy migration began in 2013.
Clark County 2017 the estimated population was 471,000 for 2018 the number is 479,500
indicating the fluctuation is slightly declining.From 2017-2018 8,500 have migrated
estimated by the Office of Financial Management Washington State. Average annual
change since 2010 is 6,767.1 the heavy migration began in 2013.
(The net migration rate is the difference between the number of immigrants
(people coming into an area)and the number of emigrants (people leaving an area)
throughout the year. When the number of immigrants is larger than the number of
emigrants, a positive net migration rate occurs.)
(people coming into an area)and the number of emigrants (people leaving an area)
throughout the year. When the number of immigrants is larger than the number of
emigrants, a positive net migration rate occurs.)
Multi-Family Statistics Clark County
A tight rental market a low vacancy rate 2.1% FMR - Fair Market Rents
The average rent is $1,200 for a one bedroom apartment.
FY 2018 Fair Market Rent Documentation System
Final FY 2018 FMRs By Unit Bedrooms
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Two-Bedroom
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$1,026
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$1,132
|
$1,330
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$1,935
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$2,343
| |
The FY 2018 Fair Market Rents for Portland-Vancouver-Hillsboro, OR-WA MSA are based
on the results of a local rent survey.
on the results of a local rent survey.
Washington is America’s Top State for Business in 2017 #1 Best Economies in America
- Washington's economy grew 3.7% in 2016, nearly two and a half times the national rate.
- The nation's largest concentration of STEM (Science, Technology, Engineering and Math) workers reside in Washington state.
- Washington state follows California in the most patents filed last year.
- Washington state has no income or corporate income tax, but wages and rent are among the highest in the United States.
- No. 3 in Technology and innovation
Special Report on one-Level Ranch Homes
One-Level Homes Special Report Overall - Comparing a Ranch to all sales in Q2 sold to November 6th or basically Q3.
|
$1 -$75,000 = Sq.Ft. down 114
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$76,000 - $151,000 = Sq. Ft. up 317 - DOM up 17 days
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$152,000 - $227,000 = Sq.Ft.down 3 - DOM down 10 days
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$228,000 - $303,000 = Sq.Ft. up 51 - DOM up 12 days - Sales down 40
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$304,000 - $379,000 = Sq.Ft. down 53 - DOM up 16 days - Sales down 35
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$380,000 - $455,000 = Sq. Ft.down 94 - DOM up 14 days - Sales down 35
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$456,000 - $531,000 = Sq.Ft. up 28 - DOM up 8 days - Sales Sales down 16
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$532,000 - $607,000 = Sq.Ft. up 93 - DOM up 26 days - Sales down 4
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$608,000 - $683,000 = Sq.Ft. up 121 - DOM up 3 days - Sales up 2
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$684,000 - $759,000 = Sq. Ft. down 210 - DOM up 24 days - Sales down 7
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$760,000 - $835,000 = Sq. Ft. down 457 - DOM down 11 days - Sales down 8
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$836,000 - $911,000 = Sq. Ft. up 817 - DOM down 55 days
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This data is from the RMLS. I am showing the differences from a one-Level home to all other sales with raw data.
|
| The Square Footage Factor is Decreasing in some price ranges. |
Bret Bucher
360-600-5555 cell phone please call anytime
Real Estate Broker
Realty Pro Inc.
14201 NE 20th Ave
Vancouver WA 98686
*Equal Housing Opportunity*
The information supplied herein is from sources deemed reliable but not guaranteed. Some of the statistics come from the RMLS, County, and the State. Realty Pro INC accepts no responsibility should the information prove to be inaccurate or incomplete. Other information comes from Public Records from Clark County Official Government.
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