Clark County and Vancouver Real Estate Report June and Quarter 2

Clark County Washington Real Estate has always been its very own independent market from Portland Oregon or even National Statistics, yet I will at times make sure the consumer or a seller is given local knowledge with facts inside Clark County.

Despite the innuendos, today is possibly the Hottest Market ever seen in Historical levels inside Clark County, I will break it down, and the reasons why?

The reason why number one - population boom there is a significant housing shortage, and we are not talking the median home sales price of $299,900. "The Whole market to a 1.5 Million Dollar Home is Selling in 91 days this is California prices, you need to be aware Clark County is not slowing down as rumors Spread.” Just look at the DOM days on market we are headed into some heavy home prices. The vacancy rate is 2.4 percent the lowest in the nation as the average is 7 percent.

New Construction Preliminary with lots up 435% that is all private money that puts thousands of good paying jobs into Clark County which means a sustainable future for Clark County. 1/3 of Clark County is New Construction and what does that tell you? Well, it means higher home prices are coming as Wall Street literally owns Clark County just as Herzog Farms in Felida that is selling 500,000 houses and receives 100% percent on list price v. sales price if not 102%.

"I debunk misinformation" and I get into statistics, lets start with a housing bubble, there is no bubble as swarms of buyers flock into Clark County and pay cash, many other buyers put large amounts down since the crisis ended in 2012. There is no bubble the opposite is in affect - we have a housing crisis epidemic with no inventory. I drove through Portland last Saturday I counted 25 High Rise Cranes building multi-million dollar projects that furthermore indicates high paying jobs on infrastructure under construction. Which, leads me to the water front construction in Vancouver Washington this looks like this will be beyond success as Vancouver is changing to a higher class.

Please remember to support my reports by calling me if you have a friend or family member looking to buy or sell, I am very good to my clients. Please call me any time with questions I look forward to talking to you or your friends 360-600-5555

  

Closed Residential Sales

582

Down 16.5% compared to 697 of this same period of last year

Down 9.3% Compared to March of 2017

New Listings

916

Down 11.9% compared to the same period of last year

Down 5% compared to March 2017

Pending Sales

798

Down 12% compared to the same period of last year

Down 4.65 compared to March 2017

Sold Terms 30 days history June 21st

721 total

427 Conventional

116 FHA

109 Cash

55 VA

9 USDA

Average and Median Home Sale Prices

Up 9.1% $336,000 V. $308,000 average sales price compared to the same period of last YR.

Up 9.2% $299,900 V. $274,900 median sales price compared to the same period of last YR.

Inventory

1.9 meaning it would take 1.9 months to sell the current inventory

The average market time is 56 DOM (days on market)

“Actual” Inventory Wed, June 21st

978 is the actual number after the subtraction of: proposed, under-construction, short-sale-pending, and bankruptcy.

Description of new-construction

326 active listings

Average: Sq. Ft. 2516, list price $506,129, DOM 88

Proposed to be built: 134

Under-construction 115

108 Turn-key

(These numbers reflect the data in the RMLS, yet it asserts reasonable confidence)

Breaking Down the Sales in $75,000 increments 1 month history June, 21st

$1 -$75,000 = 4       Average Sq. Ft  1,241 In-Park

$76,000 - $151,000 = 14      Average Sq. Ft. 1,397 DOM 34

$152,000 - $227,000 = 51     Average Sq. Ft. 1,215 DOM 40

$228,000 - $303,000 = 201   Average Sq. Ft. 1,505 DOM 20  Median Sales Price 299K

$304,000 - $379,000 = 205   Average Sq. Ft. 1,937 DOM 25

$380,000 - $455,000 = 97     Average Sq. Ft. 2,340 DOM 35

$456,000 - $531,000 = 68     Average Sq. Ft. 2,753 DOM 44

$532,000 - $607,000 = 50     Average Sq. Ft. 3,036 DOM 50

$608,000 - $683,000 = 15     Average Sq. Ft. 3,623 DOM 82

$684,000 - $759,000 = 10     Average Sq. Ft. 3,589 DOM 63

$760,000 - $835,000 = 7       Average Sq. Ft. 3,951 DOM 64

$836,000 - $911,000 = 2       Average Sq. Ft. 4,598 DOM 226

$912,000 - $987,000 = 0

1 Million - 2 Million = 4       Average Sq. Ft. 5,385 DOM 91

New Construction Valuations in Clark County WA Q2 17

Residential permits: down 46% with 176 permits compared to 326 permits in the first quarter 2016. From 2008 to 2017 the historical average is 176.  Construction Valuation reached $114 million up 7% compared to the same period of 2016. The number of preliminary approved lots rose 435% there were 594 lots preliminary approved when 2016 same period saw 111 lots approved. Historically from 2008 to 2017 159 lots were approved.

Multi-Family and Vacancy Rate

The overall area vacancy rate is approximately 2.4% the lowest in the nation.

• ·         Studio: $946
• ·         One-bedroom: $1,053
• ·         Two-bedroom: $1,242
• ·         Three-bedroom: $1,808
• ·         Four-bedroom: $2,188

Population Increase

Over 55,000 people have migrated to Clark County since 2010 the increase really impacted Clark County in 2012.

Thank You,

Bret Bucher

360-600-5555

Broker, Realty Pro Inc.

Equal Housing Opportunity

The information supplied herein is from sources deemed reliable but not guaranteed. 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.

Clark County and Vancouver Real Estate Report March and Quarter 1

Over the past 33 months institutional investors have flocked our current real estate market right in Clark County making the market flourish with capital in residential and commercial real estate. The Population Boom since the Great Recession has impacted the market greatly Migration was dim throughout America, in Clark County from 2010 – 2011 only 189 people migrated. From 2014 – 2016 approximately 10,000 people migrated annually.

Today, Clark County has tremendous opportunity because of facts such as, low inventory in residential real estate, low vacancy rate, and strong migration for the foreseeable future.

The State is projecting about 8,000 people to move in Clark County this year, Clark County is the second fastest growing county in 2015 - 2016 the population spurred to 2.03 that is about 10,000 people.

Looking at the market, we have significant challenges for home buyers and great opportunities for a seller, we have a housing problem and there is no bubble, in fact, it’s the complete opposite, what we have is a panic epidemic in housing, low inventory and low vacancy rates, plus massive amounts of migration, so yes we have a stress in housing.

In terms of Development in Clark County, we are up 32% from this same time from last year at 124 Million Dollars with residential permits, we have a lot of new construction, we can not keep up with the demand, and it’s only going to continue to be this way in 2017 and most likely 2018 so being prepared is essential.  

Positioning yourself correctly in a demanding market is key, especially as an example if you need a seller to pay closing costs, understanding different loans is beneficial to the consumer, we have a lot of competition in all price categories not just the median sales price of 290K, we see multiple offers on properties and no doubt a surge in cash transactions.

Thank You for reading this report, if you know a coworker or anyone looking to buy or sell please give me a call at your convenience.  Thank You, Bret Bucher 360-600-5555  

Closed Sales Residential

729 Closed Transactions

Up 9.3% compared to December 2015

Best December with closed sales since 2000

New Listings

612

Down 7%

Below 31.8% for November

Pending Inventory

499

Down 0.6% compared to same period of 2015

Below November 18.5%

Clark County WA Q1 Year to Date Summary

Closed sales up 5.8%

Pending Sales up 3.3%

New listings up 3%

Compared to the year 2015

Actual “Real” Inventory March 15th 2017

711 after you subtract short-sale-pending, under-construction, proposed, and bankruptcy.

969 active, 1319 sale pending, 524 sold 30 days back.

Description of New Construction

New Construction: 116 proposed, 128 under-construction, 74 vacant turn-key 2017 Yr.

30 days history (sold): Average Sale Price $418,060, Average Sq. Ft. 2302, DOM 41 days.

Average and Median Homes Sales Price

Average Home Sales Price: $328,600 up 10.2%

Median Home Sales Price: $290,000 up 9.4%

Compared to 2015

Hottest Areas in Clark County 2016

Evergreen:       841 closed residential transactions, average sales price $258,807

Brush Prairie:   741 closed residential transactions, average sales price $373,043

Camas:             681 closed residential transactions, average sales price $448,354

Breaking Down the Sales in $75,000 increments 1 month history March 15

$1 -$75,000 = 2       Average Sq. Ft  1,339

$76,000 - $151,000 = 14      Average Sq. Ft. 1,126 DOM 49

$152,000 - $227,000 = 51     Average Sq. Ft. 1,193 DOM 58

$228,000 - $303,000 = 167   Average Sq. Ft. 1,579 DOM 50  Median Sales Price 290K

$304,000 - $379,000 = 123   Average Sq. Ft. 2,024 DOM 57

$380,000 - $455,000 = 72     Average Sq. Ft. 2,382 DOM 84

$456,000 - $531,000 = 47     Average Sq. Ft. 2,833 DOM 56

$532,000 - $607,000 = 16     Average Sq. Ft. 2,973 DOM 66

$608,000 - $683,000 = 11     Average Sq. Ft. 3,477 DOM 86

$684,000 - $759,000 = 12     Average Sq. Ft. 3,564 DOM 135

$760,000 - $835,000 = 3       Average Sq. Ft. 3,500 DOM 217

$836,000 - $911,000 = 0

$912,000 - $987,000 = 2       Average Sq. Ft  2,960 DOM 158

1 Million - 2 Million = 3       Average Sq. Ft. 5,385 DOM 91

The Highest Sale was a Parade of Homes House on 1.23 Acres $1,275,000 CASH 41 DOM 91% List Price Versus Sales Price

Rent Projection Portland Oregon Metropolitan Area - HUD

FY 2017 Fair Market Rent Documentation System

Final FY 2017 FMRs By Unit Bedrooms
	Efficiency	One-Bedroom	Two-Bedroom	Three-Bedroom	Four-Bedroom
	$946	$1,053	$1,242	$1,808	$2,188

The FY 2017 Fair Market Rents for Portland-Vancouver-Hillsboro, OR-WA MSA are based on the results of a local rent survey.

Multifamily Rental Report Q1 17

Multifamily Statistics Clark County Q1 2017

Average $1,088 Monthly | 903 Sq.Ft | $1.20 per ft | 96% Occupied | 825 Units under construction approx.

3% is the vacancy rate in Vancouver possibly one of the lowest in America.  

Effective Rent Growth (ERG) rate of 7% - Occupancy is lower than a 12 months back (96%) but Steady

New Construction Valuations in Clark County WA Q1 2017

Residential Permits: 397 compared to 299 from 2015 same period, up 33%. Historically 189 issued from 2007 – 2016. YTD 913 permits.

Valuation of Residential Construction: 124 million up 32% compared to same period of 2015 (94M)

Lot Development: 102 preliminarily approved Down 81% compared to 543 lots same period 2015.

Development Activity: 2016 1,504 Residential lots - 2015 1,246 Residential Lots - 2014 926 R lots.

Washington State Population Prediction by the State

Terms of a Sale 2016 Entire Year

Property Category = RESIDENTIAL   Area = 11, 12, 13, 14, 15, 20, 21, 22, 23, 24, 25, 26, 27, 31, 32, 33, 41, 42, 43, 44, 50, 51, 52, 61, 62, 63, 64, 65, 66, 70, 71, 72   Status = SLD   Sold Date =

01/01/2016...12/31/2016   List Price = 1...10000000   Sold Price = 1...1000000   Sold Terms =

1. CONV 4,745
2. FHA 1,624
3. CASH 1,459
4. VA 798
5. USDA 119

Bret Bucher

360-600-5555 cell phone please call anytime

Real Estate Broker

Realty Pro Inc.

14201 NE 20th Ave

Vancouver WA 98686

http://bretbucher.realtyproweb.com/search/multisearch.php

BretBucher.Blogspot.com

https://www.linkedin.com/in/bretbucher/

*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.

Clark County and Vancouver Real Estate Report June and Quarter 2

We still have a robust real estate market, the question remains for many local Realtors and Brokers how much longer is this market going to last? Great question, so lets look directly at the science and the activity and wow the data I am getting is fascinating. Indicating we have at least another year with this low inventory and a high volume of buyers.  

Right off the bat, the population-boom has been fueling the market for 3.5 years, no doubt the element behind the market, and why is that? Well, the Portland Metro area job growth is ahead of the National average, and is one of the top Five economies.

Now, what is very interesting is new construction permits is up 24% at 145 million dollars from this very same time from last year, and last year same period it was at 134 Million up 49% so this all signals a very thriving market with no real indication of when it slows down or transitions into a "normal" market, these numbers indicate that it is absolutely impossible to meet the consumer demand. Great news for a seller, but a challenge for a home buyer.

One more important point here, notice the upper-properties and the days on market and how many are selling in 30 days, this indicates a very strong market all throughout the price categories in Clark County, not just at the median homes price which is $277,000.

Thank You for reading this outstanding report. Please help me expand my business if you know a co-worker or a family member or a friend looking to buy or sell, please call me at your best convenience 360-600-5555


Closed Sales Residential

811 Closed Transactions

Down 4.6% compared to June 2015

Up 6.4% compared May 2016

New Listings

1,144 Residential up 7.6%

Strongest amount of new listings since 2008

Pending Inventory

930 Residential Pending Sales up 4% compared to same period of 2015

944 Pending Compared to May 2016 down 1.5%

Clark County WA Q2 16 Summary

Closed sales up 6.2%

Pending Sales up 4.4%

New listings up 2.3%

Compared to same period 2015

Actual “Real” Inventory August 9th 2016

1,221 after you subtract short-sale-pending, under-construction, proposed, and bankruptcy.

1611 active, 1781 sale pending, 726 sold 30 days back.

New Construction: 169 proposed, 148 under-construction, 87 vacant turn-key.

Description of New Construction

New Construction: 169 proposed, 148 under-construction, 87 vacant turn-key.

30 days history (sold): Average Sale Price $359,348, Average Sq. Ft. 2,180, DOM 64 days.

Average and Median Homes Sales Price

Average Home Sales Price: $312,400 up 9.1%

Median Home Sales Price: $277,000 up 8.6%

Both compared the same period of 2015

Hottest Areas in Clark County

Evergreen:      75 closed residential transactions, average sales price $257,600

Camas:           69 closed residential transactions, average sales price $440,900 

Brush Prairie: 53 closed residential transactions, average sales price $394,800

Breaking Down the Sales in $75,000 increments 1 month history 8/09/2016             $1 -$75,000 = 5       Average Sq. Ft  929    Average Sq. Ft. $49.00 $76,000 - $151,000 = 18      Average Sq. Ft. 1,267 Average Sq. Ft. $89.00 $152,000 - $227,000 = 93     Average Sq. Ft. 1,249 Average Sq. Ft. $160.00 $228,000 - $303,000 = 227   Average Sq. Ft. 1,631 Average Sq. Ft. $161 DOM 26 days $304,000 - $379,000 = 135   Average Sq. Ft. 2,199 Average Sq. Ft. $148 DOM 34 days $380,000 - $455,000 = 86     Average Sq. Ft. 2,488 Average Sq. Ft. $166 ft. $456,000 - $531,000 = 50     Average Sq. Ft. 3,106 Average Sq. Ft. $161 DOM 33 days $532,000 - $607,000 = 24     Average Sq. Ft. 3,413 Average Sq. Ft. $170 $608,000 - $683,000 = 13     Average Sq. Ft. 3,112 Average Sq. Ft. $208 DOM 89 days $684,000 - $759,000 = 12     Average Sq. Ft. 4,173 Average Sq. Ft. $173 $760,000 - $835,000 = 5       Average Sq. Ft. 4,035 Average Sq. Ft. $201 DOM 94 days $836,000 - $911,000 = 3       Average Sq. Ft. 4050 Average Sq. Ft. $215 $912,000 - $987,000 = 2       Average Sq. Ft  5,046 Average Sq. Ft. $189 DOM 34  days    1 Million - 2 Million = 3      Average Sq. Ft. 3103 Average Sq. Ft. $263 DOM 41 days One Month History - highest Sale from 1million to 2 million $1,150,000 95.65% Sales Price Versus List Price, in Steamboat Landing Columbia River Waterfront 4103 Sq. Ft.

Multifamily Rental Report Q2 16

Average Rent Cap/Vacancy Rate:

 1bd/1bth            2bd/1bth               2bd/2bth             3bd/2bth
  $926 ($1.30)     $1,013 ($1.10)     $1,184 ($1.10)     $1,313 ($1.06)

1.6% is the vacancy rate in Vancouver possibly one of the lowest if not number one in America. Since 2012 the rent has gone up 35 percent in Vancouver WA.

New Construction Valuations in Clark County WA Q2 16

Residential Permits: 398 compared to 343 from 2015 same period, up 16%. Historically 218 issued from 2007 – 2016. YTD 724 permits.

Valuation of Residential Construction: 145 million up 24% compared to same period of 2015

Lot Development: 314 preliminary approved up 91% compared to 164 lots same period 2015. YTD 425

Bret Bucher
360-600-5555 cell phone please call anytime
Real Estate Broker

Realty Pro Inc.
14201 NE 20th Ave
Vancouver WA 98686

http://bretbucher.realtyproweb.com/search/multisearch.php

*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 accepts no responsibility should the information prove to be inaccurate or incomplete. Other information comes from Public Records from Clark County Official Government, I deem this acceptable.