January 2019 Real estate market report for Vancouver Washington providing statistics for Clark County real estate including tips for buyers and sellers.
Here’s a look at the Vancouver Wa Real Estate Market for January 2019. Data contained in this report is compiled from the Regional Multiple Listing Service for January 2019.
The Average sales price for single-family homes for January 2019 was $367,010 and 3.2 months supply of inventory.
Let’s take a closer look at the Vancouver Wa market for January 2019.
A Look at Housing Stats
January 2019 saw a slight decrease in homes sold with a total of 336 single-family homes compared to 366 single-family homes sold in January 2018.
The average sales price of homes that sold in Vancouver Wa during the month was $383,019 compared to January 2018 of $362,214. A year over year increase of 5% from January 2018.
Pending sales for January 2019 was 328 compared to 380 pending sales in January 2018.
New listings in January 2019 was higher at 460 compared to 427 new listings in January 2018.
January inventory level of available homes was 3.2 months compared to 2.2 months in January 2018. Homes averaged 51 days on the market(DOM) compared to 40 DOM in January 2018. Sellers sold an average of 98.56% of list price.
What Does this Data Mean?
While average home prices saw a slight increase average days on market are also increasing.
Houses on average are staying on the market slightly longer and inventory levels are increasing. A trend that began at the end of summer 2018.
However, any inventory of fewer than six months is considered a seller’s market. A balanced market that benefits neither the buyer or seller are six months of inventory.
What does this mean if your buying a house?
Buyers will find a competitive market with some homes still experiencing multiple offers in less than a week. However, sellers may be willing to negotiate price, seller concessions, and repairs as they experience longer days on the market.
Buyers should be prepared to make a fast decision on homes that show well and are located in a popular school boundary. Negotiation tactics are crucial and your first offer must be your best in multiple offer listings.
Financing is a critical factor in negotiating a purchase. Some sellers prefer offers with a higher down payment and/or conventional financing.
What does this mean if your selling a house?
Sellers in Vancouver WA should expect to see a slight increase in value in 2019.
The market is experiencing longer days on the market and will likely put downward pressure on sellers in the future affecting anything from list price, days on market, and seller concessions.
Sellers are selling their homes for an average of 98.56 of list price meaning a well-priced home is still selling very close to asking.
Vancouver Wa Homes For Sale
Search the most recent single-family listings in the Vancouver Wa market. Homes listed reflect this month’s average sales price range of $363,010 or less.