Market Snapshot for Vancouver and Clark County WA 2010/09/06
Our spring and summer were a little cooler than normal. And it seems that autum is coming a little sooner, too. Oddly enough (?) it looks like our seasonal slowing in the market is coming a tad early as well. Total count of active listings is down to 2884 for the city and 3937 for Clark County at large. Coupled with a decline in pending transactions of 655 for the city and 899 for the county and we end up with ratios that are skewed a slight bit more for the buyer - 4.4 for the city ratio and 4.3 for the county. This means there are just over 4 houses available for every 1 under contract. At the worst of our market that was 8 to 1, so you can see it's not nearly as bad as before. Sales at a ratio of 2 to 1 are indicative of a roughly even market. Often the 'inventory' is about six months at that ratio. Recently, our inventory was reportedly at 12 months.
Does last year's market matter this year? I read a few articles recently that tout "Home sales up!" or "Home prices increase!" and then find that it's not since last month that sales or prices increased, but since same time last year. Often, the articles have passingly stated that compared to the previous month, sales and prices were down or only fractionally (1%) higher. I think the past numbers are valuable only to the extent they show us the trends. The trends are important in guessing (yes! guessing) next week's or next month's pricing. Trends are synonymous to momentum. That's why, if sales ratios are trending up (meaning more inventory) then you should price your home somewhat less than the current market analysis and if the ratios are trending down (less inventory) you can probably price your home slightly higher than current market. Want more explanation of why this is reasonably sound advice? Drop me a line or give me a call. I'm always glad to talk real estate!
Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you make the best choice in Vancouver Washington. The Natural Choice in real estate is working with a professional real estate agent (me!) at Krogseng Real Estate who listens to your needs and works as a trusted advisor to get the best solution to your housing needs. We will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, the natural choice in real estate will be someone that can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit Krogseng Real Estate for more information.