Clark County and Vancouver Real Estate Report December and Quarter 4

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

Clark County Real Estate Report for October 2015

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

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

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 **

Clark County and Vancouver Real Estate Report June and Quarter 2

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 

Clark County and Vancouver Real Estate Report March and Quarter 1

Clark County's residential real estate market is white hot. The market is healthy and strong because of low interest rates, a shortage of housing, and no doubt a rising population. People migrate to Washington State and possibly Washington is the 3rd best State. Clark County is very attractive to people in the Portland Oregon Metropolitan area. 

 If you are a buyer looking for a home education on the market is critical, and learning how to position yourself in this demanding market is important, it could "make or break" an offer because of competing offers on some houses. The consumer should explore all options with financing, as an example a Credit Union has low rates and low closing costs, so if you need a seller to contribute to financing low closing costs will make your offer look better to a seller because we are seeing multiple offers on properties so positioning yourself in the market will benefit you. Having a great buyers agent not just to find the home but to navigate through the transaction is very important. Real Estate is very dynamic starting with negotiation on the purchase price, inspections, appraisal, and underwriting. With rising home prices the appraisal is a challenge in this strong increasing market. The consumer should always be an "Arms-Length" away from another party in a transaction.

I heard on KXL how home buyers are knocking on the doors of home owners giving them letters why they want the home and that is a big No-No because of Federal Fair Housing Laws. A seller could be accused of Discrimination, so always keep an arms length away from buyer or seller very serious and important. Buyer and Seller should not have discussions at all.

As a seller, having a plan to sell your home is important because your home has a great opportunity to sell depending on what your valuation is, as you can see this report the market is white hot but not in all price ranges. A seller needs a plan on where to go when the home sells because inventory is low. The market is very demanding so understanding the market and how to get from point A to B needs to be well planned out.

New construction for developers and home builders wow they got their cards right this time because subdivisions to develop can take up-to 3 years to complete and watch the inventory enter the market. Just the Battle Ground School District has 1,500 homes coming on the market, and 600 multifamily units. Possibly 1,000 students could enter the district over several years. This video below is current development from NE 119th Street to NE 179th ST from NE 20th Ave to 152nd Ave. These photo's were taken April 19th, 2015. And by the way, the Portland Metro area is 6 years behind on the multifamily units and guess where the real estate is? Yes, Clark County has the planning and the Prime Real Estate! 

Closed Sales

612

Up 32.8% since March 2014

Pending Sales
884
Up 31.2% since March 2014
Up since February 2015 by 32.7%

Inventory Per RMLS
2.6 meaning it would take 2.6 months to sell the current inventory.
1,570 homes listed for sale.

April 22, 2015 actual live inventory
927 real homes to walk through
1,498 report active but after you subtract the short sale pending, proposed to be built, under construction, and bankrupt.
227 proposed to be built
167 short sale pending
161 under construction
37 short sales
45 Real Estate Owned (REO) Bank Owned

30 day's back residential
611 Sold Homes
857 Sale Pending


Average and Median Home Sales Price compared to this same period 2014
The Average  $277,900 up 9.4%
The Median $254,100 up 9.1%  (2014 same period $226,500) The Majority of all sales in Clark County, while Portland is $289,000

Price Activity 30 Days Back - Rates of Absorption 
    1 - $100,000 = 27 Sold
101 - $200,000 = 133
201 - $300,000 = 250
301 - $400,000 = 111
401 - $500,000 = 41
501 - $600,000 = 27
601 - $700,000 = 5
701 - $800,000 = 4
801 - $900,000 = 3
901 - $1,000,000 = Zero

Financing terms 30 days back highest to lowest
Conventional
Cash
FHA
VA
USDA

Area Activity
#1. Evergreen 64 closed sales
#2. Camas 49 closed sales
#3 Battle Ground 44 closed sales, and East Hazel Del 44 closed sales
#4 North Salmon Creek 37 closed sales

4th Quarter Development Activity Per Clark County 2014
243 residential permits issued
Up 28% Compared to this same Quarter of 2013
The permit average is 196 compared from 2005 to 2014
Total volume of permits 99 Million down 18% compared to 2013
The historical average from 2005 -2014 is 159 Million
 Division of Lots 294 down 34% Historically 271 lots from 2005 - 2014

If you want to be removed from my report just let me know, thank you.

If you know anyone looking to buy or sell, I am never too busy to help a future client.

Thank you,

Contact:
Bret Bucher
360-600-5555 Cell Phone call anytime.
Real Estate Broker

Realty Pro Inc.

** 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 or Bret Bucher accepts no responsibility should the information prove to be inaccurate or incomplete. This report was created by Bret Bucher and the consumer needs to verify all information.

Clark County and Vancouver Real Estate Report June 2014 Quarter 2

Clark County’s real estate is a very tight market. The positive is the inventory is correcting and the distressed homes are slowly but surely going away we’re seeing more home owners entering the market and as you read this report notice the good results.  Today is a great time to buy because 2015 home prices are most likely going to rise locally like they have this year but the difference is the interest rates possibly going to rise in 2015, which increases the payment.

Clark County currently no doubt is seeing development but keep in mind that is privately financed and the spec homes from builders we used to see does not exist or there is very few most likely you have a model home to look at and then you have the home built by the home builder meeting the demands of what a buyer may want. The market is different you have to have a plan when you sell your home today.  You will see today property development occurring as we saw 446 lots preliminary approved 4^th Quarter 2013.  Notice zero lots preliminary approved with this report, which could impact the amount of new homes on the market in the foreseeable future. The inventory is low and the market is headed towards a normal market as home prices rise and inventory increases.

One more item is multifamily, currently the Portland Oregon market is 5 years behind and I saw 8 construction cranes as I drove around the freeways in Portland yesterday, a sign of the times and this is good news as we saw the market drop in 2009 -- We are talking multi-million dollar big time real estate construction projects. Incredibly low vacancy rate. The rental market is white hot -- Investment opportunities are present and if you purchased in the distressed market you did exceptional.  We are seeing some signs of a changing market in a positive direction that will directly impact the economy here locally.  

Pending Sales

762 a 6.4% increase compared to June 2014

20% increase compared to July 2013

Closed Sales

655 up 2.8% compared to June 2014

Down 3.8% from July 2013

New Listings

991 down 8.7% compared to June 2014

Up 10.7% from July 2013

Year to Date Summary

New listings up 8.5% (6,292)

Pending Sales up 5.2% (4,421)

Closed sales (3,788) 1.5% increase

This is compared to the same time last year

Average Sales Price

Increase $267,400 of 8% 

Compared to 2013 average of $247,600

Median Sales Price

8.2% up from $221,000 to $239,200

Price Range Sales 30 Days Back

    $1,000 - $75,000 = 7

  $76,000 - $151,000 = 47

$152,000 - $227,000 =176

$228,000 - $303,000 = 182

$304,000 - $379,000 = 103

$380,000 - $455,000 = 52

$456,000 - $531,000 = 23

$532,000 - $607,000 = 11

$608,000 - $683,000 = 6

$684,000 - $759,000 = 3

$760,000 - $835,000 = 5

$836,000 - $911,000 = 1

Terms of a Sale 30 Days Back

320 Conventional

116 Cash

92 FHA

69 VA

15 USDA

Inventory

2,566 including proposed and under construction homes 

195 short sales, 112 short sale pending

Today's inventory 08/18:

1,742 after short sale pending, bankruptcy, under construction and proposed are subtracted. 

New Construction Quarter 2 2014 from Clark County Staff

280 permits issued on Single Family Residential 

Historically from 2005 to 2014 253 permits

Compared to this same period last year

Land Division of lots Zero while Q1 had 175

Valuation of Construction Q 2 2014:

Up 27% 137 Million compared to 108 Million 2013

Historically from 2005 - 2014 the valuation 104 Million

Lots and Land Quarter 2 2014:

Zero lots preliminary approved as this same period last year 30 were approved 

100% decrease

Historically 2005 - 2014 302 preliminary approved, however in 2007 there was over 1500 so this is unbalanced or off

Thank you for reading this report if you know anyone looking to sell or buy please give me a call and I will provide them great customer service, and market knowledge.

Sincerely,

Bret Bucher

Broker

360-600-5555

Sandy Scott Uptown Realty Inc.

1400 Main Street

Vancouver Wa

** Equal Housing Opportunity** 

The information supplied herein is from sources deemed reliable but not guaranteed.  Some of the statistics come from the RMLS.  Sandy Scott Uptown Realty INC accepts no responsibility should the information prove to be inaccurate or incomplete.

Clark County and Vancouver Real Estate Report March 2014 Quarter 1

Clark County Real Estate Report – First Quarter 2014

Clark County WA again is continuing to show strong signs, as we witnessed 2013 1^st quarter show some impressive results.  All the numbers are higher this quarter new listings are up in fact they’re way up there because the housing market is recovering and more owners today have equity and are capable to sell, and other indicators the short sales, wow they’re slowly but surely going away.  Again, home prices on the rise the average sales price is up 7.6% this year so far, and last year they were up 25%.  The demand for housing is strong in all factors of the real estate industry, new construction, pre-owned existing homes, and the rental market.  I don’t have the sales volume for new construction but so far 603 permits have been issued for 2014 and last year 788 were issued.  The market is great however it does soften up once you get to the $303,000 price point but the sales price verse list price today going back 30 days is at 99.96 which homes are selling right at the list price another positive indication the local market is strong.

New  Listings for March

844 new listings for March up 41.4% compared to the best February at 597 Comparing last March new listings up 11.9%

Closed Sales for March

461 up  28.1% compared to February and unchanged comparing to March of last year.

First Quarter 2014

2,132 new listings, pending sales 1630, and closed sales 1,221 these are all higher than 2013 same period.

Sale Prices

The average sale price is $258,400 up 7.6% compared to the same period last year ($240,000).  The median price is $230,000 up 7% compared to the same period of last year ($215,000).  The median is the overall majority of transactions.

Inventory

4.6  last year same period 4.4. There are 2,132 listings.  It would take 4.6 months to sell our existing inventory at the rate it takes for a sale.

Today’s inventory

1,950, 262 short sale pending, 93 short sales, 186 under construction, 203 proposed, 59 REO (Real Estate Owned) bank owned.   The real actual number of homes could possibly be 1,269.

Sales Price Ranges 30 days Back

$1,000 - $75,000 = 9                  
$76,000 - $151,000 = 41

$152,000 – $227,000 = 184
$228,000 - $303,000 = 137
$304,000 - $379,000 = 57
$380,000 - $455,000 = 32
$456,000 - $531,000 = 17
$532,000 - $607,000 = 10
$608,000 - $683,000 = 5
$684,000 – $ 759,000 = 2
$760,000 - $835,000 = 2
$836,000 - $911,000 = 2

Total volume of units sold = 501.  The Median %SP/LP: 99.96  The Average %SP/LP:98.71  Sales Price verse List Price.

New Construction

101 homes sold built in 2014 per RMLS – No reports for sales volume yet.  YTD permits 603 for Clark County and 788 total for 2013 according to the BIAW.

Multifamily

The average rent per unit:  1 Bed/1Bath - $798($1.11), 2 Bed/1Bath - $879($0.96), 2 Bed/2 Bath $1,013 ($0.95), and 3 Bed/2 Bath – 1,135($0.92) and the vacancy rate is 2.09 in Clark County.  The rental rates will continue to increase in the Portland Metro area as large brand new complexes are being built because there is a rental booming industry currently in Clark County and apartment construction is on the rise to meet the demand.

Thank you for reading this report.  Please consider my services for referrals I am never too busy so if you know any friends, family, or co-workers looking to buy or sell please call me at your earliest convenience thank you! 

If you would like to be removed from this list please email me back at your convenience.   

Best regards,

Bret Bucher

360-600-5555   Cell
360-334-4464   Office
360-694-7360   Fax

Broker

Since 2003

Sandy Scott Uptown Realty Inc.

1400 Main St Vancouver WA

http://www.sandyscottuptownrealty.com

http://www.linkedin.com/profile/view?id=38257647&trk=tab_pro

The highest compliment my clients can
give me is the referral of their friends,
family, and business associates.  Please

Call me with their name and number.  I 

appreciate referrals.

The information supplied herein is from sources deemed reliable but not guaranteed.  Some of the statistics come from the RMLS.  Sandy Scott Uptown Realty INC accepts no responsibility should the information prove to be inaccurate or incomplete.

Clark County and Vancouver Real Estate Report December 2013 Quarter 4

Housing recovery

Good Afternoon,

2013 was the turn around year for real estate in a positive direction.  The first quarter of 2013 locally home price were up 25% a big turn around.  The low amount of homes on the market had a strong impact with our market creating a very solid and hot housing market.  The amount of sales in 2013 was the same volume we saw in 2005 and 2006 but the majority of all transaction were in the $175,000 - $275,000 price range.  The low interest rates also had a significant impact with our market motivating consumers.  The demand of housing in Clark County has always been strong it just made some shifts over the past four or five years.  Now we are seeing some stronger signs with new construction meeting the demand of the market.  The rental market in our area is "white hot" in fact it is one of the lowest vacancy rates in the nation and you are seeing apartment development throughout Clark County increase for many reasons, one is our population is rising, second new people enter the market that graduated from high or college and they are own their own not living at home because the economy is recovering (and there is no place for them to live), a tight residential market forcing someone to rent because they can not find the home they want, and Portland has an urban growth boundary that reached its capacity.  Clark county has significant opportunity because the real estate exists and so does the planning.

My prediction: the year 2014 the real estate is going to be a great market.  The market is going to "cool down" a bit, nothing to be alarmed about.  We will see more inventory which slows down the rise in home values and interest rates are going to rise which directly impacts the market.  When you look at the report new listings for December are up 25% YTD and Pending sales down 30% for December compared to November indicating rising inventory which is a normal fluctuation from the distressed market we faced over the years to very low amount of homes we have currently in a hot market, but it is only hot in certain price ranges keep that in mind.  With home values up and rising more owners can enter the market.  2014 is going to transition into a "normal market" or change towards it.  There are many people who want to down size or sell because they may not be under-water with the value of their home.  Also, economic job growth is slowly growing. The more jobs you have the better the real estate market is, the better jobs you have may result in higher real estate values.  Real Estate improves recessions as homes sell in Clark County taxes are paid to the state, jobs are created.  When a single transaction occurs jobs are created and taxes are paid.  July had 681 homes sell so you can expect that Clark County is improving slowly but surely with economic development  Other factors that make our market strong are no income taxes so people move here.  Washington State is possibly the third best state for migration, people migrate from all over the nation, and we get many people moving here from Portland Oregon.  Lets take a look at the statistics from 2013 below:

Closed sales for December

475 closed transactions

8.2% increase from Novembers 439

21.8% increase in sales from last December

Best December since 2006!

Pending Sales

342 down 30.3% compared to last month

Down 5.5% compared to December last year

New Listings

424 new listings on the market

Down 24.4% compared to Novembers 561

Increased 18.4% compared to December 2012

Inventory

4.5 meaning it would take 4.5 months to sell our current amount of homes

2,127 active residential homes on the market in Clark County

The real number of today's Inventory

1,844 Active listings

296 Short Sale Pending

133 Short Sales

258 Proposed To Be Built

169 Under Construction

91 Bank Owned REO

47 Bankruptcy 

1,074 Real Homes on the market after you subtract the Short Sale Pending, 

Proposed to be built, Under Construction, and Bankruptcy.

Correlation

1074 actual listings and 475 closed sales indicates a demanding market

Year-to-Date

6,504 closed sales for 2013

Up 19.1% compared to the end of 2012

New listings up 25% from the same time frame of last year

The Average and Median Sales Prices

$250,300 is the average sales price up 12.7% same time as 2012

The average last December 2012 was $222,100

$224,900 is the median sales price: meaning this is where the majority of all transaction occur at

The median homes sales price increased 15.6% from $194,500

Sold Price ranges as of today going 30 days back 02-12-13

From:

$50,000   - $140,000 = 40

$141,000 - $231,000 = 123

$231,000 - $321,000 = 75

$321,000 - $411,000 = 36

$411,000 - $501,000 = 10

$501,000 - $591,000 = 7

$591,000 - $681,000 = 5

$681,000 - $771,000 = 2

$771,000 - $861,000 = Zero

Area with most sales

Area 22 the Evergreen High School area saw 53 closed transactions

Area 32 Camas had 42 closed sales as the 2nd highest place of interest

Area 61 Battle Ground closed 32 transactions 

New Construction 2013 Four Quarters of Activity

190 Permits were issued 29% increase compared to this same time of 2012

From 2004 to 2013 the average number was 219 permits

Total volume of construction was 120 million dollars up 56% compared to this same time last year

The average volume from 2004 to 2013 is 202 Million

Residential construction rose 38% in the Fourth Quarter of 2013

Residential valuation of construction was 62 million and in 2012 it was 45 million

Commercial Construction contributed 45% and showing 86% increase since 2012

Total valuation of commercial construction was 54 million in 2012 it was 29 million

RMLS 627 Brand New Homes sold that were listed as a 2013 built as 02/12/13

Lots and Land

565 lots listed in Clark County

An increase in preliminary approved lots for the fourth quarter of 2013 with 446

A 5,000 percent increase than 2012 only 8 lots were preliminary approved

From 2004 to 2013 the average fourth quarter preliminary approved lots were 310

Multifamily Fourth Quarter Report

The trends are low vacancy rates, rising rents, and construction increasing with multifamily units.  In Clark County the vacancy rate is 2.37%  Highest market since 1999. 

The average rent:

1 Bed 1 Bath $653

2 Bed 1 Bath $716

2 Bed 2 Bath $839

3 Bed 2 Bath $930

The average day on the market for an apartment is 8 days.  A High Demand for apartments exits.  Class A buildings are on the rise which impacts the class C buildings with rents.  $1.10 per square foot average rental.

Weather

December had snow and ice which impacts real estate

New Listing

http://www.youtube.com/watch?v=INWVk0nZQ1Y $389,000

Thank you very much for taking the time to read this report.  If you know someone looking to purchase real estate or someone considering selling please contact me at your convenience.  Real Estate can be complex and having a good agent is critical. 

Have a great day!

Bret Bucher
360-600-5555
360-334-6694
Broker
Sandy Scott Uptown Realty INC
1400 Main Street Vancouver Wa

The information supplied herein is from sources deemed reliable but not guaranteed.  Some of the statistics come from the RMLS.  Sandy Scott Uptown Realty INC accepts no responsibility should the information prove to be inaccurate or incomplete.