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.

Clark County and Vancouver Real Estate Report March and Quarter 1

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

The local market is white hot in Clark County and Vancouver Washington, and we are talking extremely aggressive market conditions on all aspects inside the industry.  First if you are a buyer being aware and educated with the market is essential when searching for a home. Another key is positioning yourself in the market with financing having the right loan is so important and a great lender for a successful closing.

To explain the scene, as an example at $235,000, I showed a client a house and from 4:30 to 6:30 there was 15 showings in 2 hours, and Realtors in a line waiting to show the house to clients.

So what is going on? That is a great question, so lets understand how critical this is, first of all, supply and demand motivate the market, we have no supply, the inventory is low because of a population boom, approximately 10,000 people moved here just from 2014 - 2015, and most likely 2015 had similar results.  Historically when the housing crisis began in 2008 the home building industry stopped building, but migration patterns did not and by 2013 we simply ran out of houses or choices another key, and apartment rentals, as the Clark County has the lowest vacancy rate in the Nation or in the top.

Comparing this same period to 2015, stronger market conditions, in fact "history is in the making" here locally, I do not think Clark County has ever had these market conditions. 2006 was a different market, why? Because there was affordable housing, not the case anymore as the median sales price is $270,000 up 9.3% from last March. There is no brand new entry level homes.

Lets look at residential new construction, now this is important to understand, new construction up 23% from this time last year, and take a look at the low inventory this means it is impossible to meet the market conditions, that is a key ingredient to this market, and indicating the migration is strong.

Please take the time to read this awesome real estate report, and please help me expand my real estate business if you know anyone looking to buy or sell please call me at your earliest convenience 360-600-5555.

Closed Sales

699 closed transactions

Up 14% compared to this same period of 2015

Up 61% compared to February closed sales

The last time we had this sales volume was 2006

New Listings

971 better than March of last year up 1.3%

16.7% higher than February 2016

Pending Sales

Down 1.1% compared to this same period of last year

Up 19.6% compared to February 2016

Inventory

1.7 meaning it would take 1.7 months to sell the existing inventory

Actual “Real” Inventory 4/20/2016 RMLS 11-80

814 Total

1099 Active listings

102 Short Sale Pending

23 Short Sales

5 Bankruptcy

27 Bank Owned REO

178 Proposed

93 Under Construction

61 Vacant Turn Key Brand New Homes 2016 the Average Sq. Ft. 1716 and the Average List Price is $312,433

Average and Median Sales Price

$304,600 average up 9.4%

$270,000 median up 9.3% the median is the majority of all transactions

Hottest Area’s

Evergreen 170 sold homes the median sales price $238,500 Area 22 in the RMLS

Brush Prairie 141 sold homes the median sales price $330,713

Camas 117 sold homes $393,000

(3 months back)

Breaking Down the Sales in $75,000 increments 1 month history 4/20/2016

1 -$75,000 = 3                            Average Sq. Ft  1,174    $108.00 ft.

$76,000 - $151,000 = 20            Average Sq. Ft. 1,024    $108. Ft.

$152,000 - $227,000 = 109        Average Sq. Ft. 1,313    $144 ft.

$228,000 - $303,000 = 231       Average Sq. Ft. 1,696   $146 ft.  Median Sales Price $270,000

$304,000 - $379,000 = 114        Average Sq. Ft. 2257    $148 ft.

$380,000 - $455,000 = 74         Average Sq. Ft. 2,688    $159 ft.

$456,000 - $531,000 = 55         Average Sq. Ft. 3,015    $160 ft.

$532,000 - $607,000 = 21         Average Sq. Ft. 3,394    $168 ft.

$608,000 - $683,000 = 11         Average Sq. Ft. 3,805    $148 ft.

$684,000 - $759,000 = 8           Average Sq. Ft. 4,451    $155 ft.

$760,000 - $835,000 = 2           Average Sq. Ft  4,180    $223 ft.

$836,000 - $911,000 = 1           Average Sq. Ft. 5,669    $276 ft.

$912,000 - $987,000 = 2           Average Sq. Ft  5,420    $229 ft.

1 Million - 2 Million = 3           Average Sq. Ft. 5576     $263 ft.

One Month History - highest Sale from 1million to 5 million 1 Sale $1,395,000 94.98% Sales Price Verse List Price.

Terms of a Sale 30 days back

Conventional 336

FHA 122

Cash 114

VA 74

USDA 5

Vacancy Rate and Average Rent for an apartment:

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

1.87% 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.

Residential Development 1st Quarter 2016 Clark County

326 permits issued up 20% compared to this period of 2015 when 272 permits were issued

The historical average in Clark County from 2007 – 2016 is 188 issued permits

Construction Activity 1st Quarter 2016

Total Construction Up 25% compared to this period of 2015

138 Million Dollars compared to 110 Million

The historical valuation from 2007 – 2016 is 86 Million

Commercial Construction up 47% at 28 Million compared to this same period of last year

Residential New Construction 107 Million Dollars up 23%, last year same period was 87 Million


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.