Clark County, Washington Market Action ... - Clark County Expert

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Mar 31, 2018 - The Clark County, Washington real estate marketplace has some unique characteristics. ... Average. Sale P
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Clark County, Washington Market Action Addition

March 2018

The Clark County, Washington real estate marketplace has some unique characteristics. There is a much higher proportion of active residential listings in Clark County that are Proposed, defined as "not yet under construction", than exists in any other RMLS™ area. This means that there are fewer homes listed as Active that are ready to move into in an immediate timeframe. The Clark County Association of Realtors®, an RMLS™ shareholder, has asked us to produce some additional statistics each month to delve more deeply into the inventory counts in Clark County. The following summary shows the number of homes available for immediate purchase and occupancy.

Total Active Listings* Reported in Market Action: Less Listings with Purchase Contingencies*: Readily Purchased Listings: Percent of Total Active Listings: Less New Under Construction (not ready for occupancy): Less New Proposed (not started): Total Readily Purchased & Occupied Listing: Percent of Total Active Listings:

Inventory in Months of Readily Purchased & Occupied Listings:

1,048 36 1,012 96.6% 97 103 812 77.5%

1.2

* Active Listings reported in Market Action include three statuses (ACT, BMP, SSP). Two of these statuses are defined as listings with accepted offers that are still marketed as active listings due to the type of offer on the property. These are Bumpable Buyer, which is an offer that is contingent on the sale of the buyer's current home, and Short Sale Pending, where an offer has been accepted by the seller but the required third party approvals have not been obtained.

Source: RMLS™ Regional Multiple Listing Service, Portland Oregon

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A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Southwest Washington



March 2018 Reporting Period

Average and Median Sale Prices Comparing the average price of homes sold in the twelve months ending March 31st of this year ($370,200) with the average price of homes in the twelve months ending March 2017 ($334,100) shows an increase of 10.8%. The same comparison of the median shows an increase of 12.6% over the same period, from $297,500 to $334,900.

March Residential Highlights Southwest Washington had another strong month this March, with closings leading the way. At 671, closed sales outpaced March 2017 (642) by 4.5% and warmed 21.1% over last month in February 2018 (554). New listings, at 989, edged 2.6% ahead of the 964 new listings offered last year in March 2017 and increased 30.0% over the 761 new listings offered last month in February 2018. This was the strongest March for new listings in the area since 2008, when 1,212 new listings were offered.

*Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month.This number includes proposed and under construction homes.

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months

Pending sales (832) outpaced March 2017 (828) by just 0.5%, but were 21.5% warmer than in February 2018 (685).

Inventory in Months* 2016 2017 2018 January 2.6 2.2 2.2 February 2.7 2.0 1.9 March 1.7 1.6 1.6 April 1.8 1.9 May 1.7 1.6 June 1.8 1.6 July 2.2 1.9 August 2.1 1.8 September 2.1 2.2 October 2.3 2.1 November 1.9 2.0 December 1.5 1.8

Average Sale Price % Change: +10.8% ($370,200 v. $334,100) Median Sale Price % Change: +12.6% ($334,900 v. $297,500)

For further explanation of this measure, see the second footnote on page 3.

Due to significant differences between the counties in Southwest Washington, the Residential Review on pages 1, 3, 4, and 5 contain Clark County data only. For data on Cowlitz County, see the Area Report on page 2, or the graphs on page 6.

2018

Clark County Residential Highlights

2017

Pending Sales

Closed Sales

Average Sale Price

Median Sale Price

Total Market Time

March

989

832

671

389,900

341,000

64

February

761

685

554

377,800

345,000

65

2,534

2,153

1,733

379,100

342,000

62

964

828

642

352,400

316,500

67

Year-to-date

2,282

2,033

1,665

342,200

306,900

65

March

2.6%

0.5%

4.5%

10.6%

7.7%

-4.8%

Prev Mo 2018

30.0%

21.5%

21.1%

3.2%

-1.2%

-1.5%

Year-to-date

11.0%

5.9%

4.1%

10.8%

11.4%

-5.6%

Year-to-date

Change

New Listings

March

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AREA REPORT • 3/2018

SW Washington

RESIDENTIAL

20

NE Heights

21

Orchards

22

Evergreen

23

E Heights

24

Cascade Park

25

Five Corners

26

E Orchards

27

Fisher's Landing

31

SE County

32

Camas City

33

Washougal

41

N Hazel Dell

42

S Salmon Creek

43

N Felida

44

N Salmon Creek

50

Ridgefield

51

W of I-5 County

52

NW E of I-5 County

61

Battleground

62

Average Sale Price

15

E Hazel Dell

Brush Prairie

63

Closed Sales

Average Sale Price

14

Lincoln/Hazel Dell

East County

64

Closed Sales

Average Sale Price

13

SW Heights

Central County

65

Closed Sales

2

Avg. Sale Price % Change

12

NW Heights

Mid-Central County

8

4

2

3

-25.0%

12

10

25.0%

7

494,900

448,000

33

24.6%

-

-

3

180,600

66

Total Market Time

Median Sale Price

Average Sale Price

11

Downtown Vancouver

Yacolt

12

12

2

9

0.0%

4

337,000

44

26

25

19.0%

20

354,800

302,500

44

16.9%

-

-

3

220,000

70

Closed Sales

Pending Sales 2018 v. 20171

Year-To-Date

La Center

10

7

0

8

-27.3%

7

434,400

132

17

21

10.5%

20

387,100

365,900

111

7.2%

-

-

1

147,500

-

71

New Listings

Pending Sales

3

Total Market Time

Average Sale Price

MULTIFAMILY

Year-To-Date

N Central

3

4

2

6

50.0%

5

348,200

109

9

12

0.0%

5

348,200

385,000

109

20.7%

-

-

1

175,000

-

72

Closed Sales

LAND

Year-To-Date

NE Corner

2

3

1

-50.0%

0

-

-

4

1

-66.7%

0

-

-

-

-5.1%

0

-

0

-

0

-

1,048

989

177

832

0.5%

671

389,900

64

2,534

2,153

5.9%

1,733

379,100

342,000

62

10.8%

9

971,400

89

284,600

28

435,700

80

Pending Sales 2018 v. 20171

COMMERCIAL

Woodland City

9

11

1

15

400.0%

12

292,100

49

32

38

123.5%

26

280,700

281,300

66

5.0%

-

-

2

156,300

1

207,500

81

Pending Sales

Expired.Canceled Listings

Year-To-Date

Woodland Area

21

12

3

4

100.0%

1

799,000

19

11

6.4%

8

367,800

318,000

154

-7.6%

-

-

13

131,400

82

New Listings

Active Listings

Current Month

Cowlitz County

107

91

15

87

42.6%

68

279,300

81

213

227

35.9%

169

263,400

245,000

68

9.0%

-

-

29

78,000

4

367,700

Cowlitz County Total

137

114

19

106

60.6%

81

287,600

75

264

276

41.5%

203

269,700

250,000

71

5.8%

-

-

44

97,300

5

335,700

Pacific County Total

76

26

3

14

-6.7%

8

266,600

230

55

32

-34.7%

25

269,700

245,000

156

21.5%

167,000

27

54,500

87

Clark County Total

12

19

2

18

-21.7%

11

360,100

33

42

36

-23.4%

37

344,500

306,500

42

14.2%

8

17

2

18

18

2

15

-31.8%

14

16

128.6%

9

269,000

6

52

457,300

88

46

6

14

0

17

-15.0%

8

309,200

31

51

57

7

44

-15.4%

42

301,500

52

23

28

3

28

50

7

16

-20.0%

17

307,900

23

63

44

-10.2%

46

310,600

74

120

46

66

16

69

-2.8%

40

370,500

29

177

11

18

2

21

16.7%

18

342,000

60

32

37

3

31

63.2%

10

376,800

11

19

0

20

-4.8%

22

36

36

5

35

133.3%

22

12

26

3

28

7.7%

13

7

3

9

107

92

21

68

50

25

21

32

2

55

-3.5%

37

249,100

247,000

33

14.6%

-

36

20.0%

29

395,700

343,000

76

5.6%

-

32

34

-24.4%

29

318,900

306,500

45

3.4%

-

144

126

-8.0%

120

299,800

299,300

46

10.4%

54

-5.3%

44

309,700

296,300

45

11.0%

-

-

-

-

123

11.8%

95

292,300

289,900

59

7.5%

-

-

-

-

-

-

165

-8.3%

120

320,000

296,000

41

13.1%

-

-

-

-

-

-

45

51

18.6%

41

315,200

279,000

57

6.4%

-

-

1

165,000

51

74

57

0.0%

45

413,900

335,000

37

2.1%

-

-

2

700,500

308,900

15

63

57

0.0%

50

302,400

289,800

25

13.4%

-

-

3

95,000

-

-

395,700

97

99

76

85.4%

48

375,300

360,000

78

8.9%

-

-

-

-

-

-

16

347,200

41

60

62

10.7%

42

375,400

352,300

48

8.8%

-

-

-

-

-

-

350.0%

3

398,500

93

18

17

240.0%

6

421,400

379,800

97

17.0%

-

-

1

227,000

55

-14.1%

63

543,400

82

203

157

8.3%

135

527,500

460,000

88

9.3%

-

-

16

320,900

3

443,700

15

43

-10.4%

35

382,900

76

138

121

14.2%

98

407,400

398,000

78

13.0%

9

142,600

1

28

27.3%

21

397,500

78

72

69

9.5%

67

351,600

335,000

47

-3.3%

42

5

30

-30.2%

27

346,800

76

94

74

-32.7%

78

336,900

330,000

63

9.1%

43

32

6

20

-37.5%

25

503,800

97

96

80

0.0%

80

469,700

475,000

77

15.4%

96

70

8

61

45.2%

43

467,100

116

184

149

71.3%

96

443,300

449,900

76

68

59

13

33

-34.0%

30

416,800

67

144

95

-26.4%

69

411,400

387,900

4

1 -

1,207,500

1

140,000

-

4

151,200

-

2

697,500

-

-

1

154,000

-

5

197,400

1,406,300

277,000 -

1

-

435,000

-

804,500

2

87,500

1

372,500

-

-

1

200,000

1

532,000

10.0%

-

-

4

288,300

-

-

65

15.2%

-

-

1

2,900,000

-

-

-20.0%

2

453,000

40

12

6

-25.0%

5

504,200

480,000

79

14.5%

-

-

3

340,000

-

-54.5%

9

438,600

108

29

25

56.3%

22

496,700

500,000

103

0.5%

-

-

7

225,400

-

102

74

13

49

6.5%

49

345,300

39

181

133

16.7%

114

348,400

322,500

50

15.6%

-

-

11

272,500

134

95

30

93

43.1%

72

405,400

45

274

221

22.8%

170

418,200

383,700

76

8.8%

1

380,000

5

326,000

-

0

0

0

-100.0%

0

-

-

0

-100.0%

0

-

-

-

5.8%

0

-

0

-

2

1

1

-75.0%

1

510,000

179

4

5

-44.4%

4

441,700

434,900

110

3.0%

-

-

2

187,500

-

2

322,500

45,000

5

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4

353,700

4

-

490,000

2

2

-

1

4

1

-

-

-

7

-

356,900

-

3

-

5

1

8

3

528,300

-

20

-

3

4

2

-

527,500 -

0

1

300,000 -

-

-

-

-

-

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1,700

ACTIVE RESIDENTIAL LISTINGS

1,600

CLARK COUNTY, WA

1,500

This graph shows

Active Residential Listings 1,800

1,400

the active residential

1,300 1,200

listings over the past

1,100

three calendar years

1,000

in Clark County,

900

Washington.

800

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2016 1,168 1,169 1,158 1,270 1,315 1,450 1,631 1,731 1,653 1,513 1,360 1,119 2017 1,085 969 1,039 1,114 1,241 1,357 1,495 1,550 1,615 1,554 1,373 1,113 2018 1,018 1,028 1,048

NEW LISTINGS CLARK COUNTY, WA

New Listings

This graph shows the

1,400

new residential listings

1,200

over the past three calendar years in Clark County, Washington.

1,000 800 600 400 200

2016

1

2017

2018

Percent change in number of pending sales this year compared to last year. The Current Month section compares March 2018 with March 2017. The Year-To-Date section compares 2018 year-to-date statistics through March with 2017 year-to-date statistics through March.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (4/1/17-3/31/18) with 12 months before (4/1/16-3/31/17).

3

Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.

3

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PENDING LISTINGS

Pending Sales

CLARK COUNTY, WA

This graph represents

1,100 1,000

monthly accepted

900

offers in Clark County,

800 700

Washington over the past

600 500

three calendar years.

400 300

2016

2017

2018

CLOSED SALES

Closed Sales

CLARK COUNTY, WA 900

This graph shows the

800

closed sales over the past

700

five calendar years in Clark County, Washington.

600 2014

500

2015

400

2016

300

2017

200

2018

100 0

DAYS ON MARKET

Average Total Market Time

CLARK COUNTY, WA

160

This graph shows the

140 120

average market time for

100

sales in Clark County,

80

Washington, over the past

60

three calendar years.

40 20

2016 TMT

2017 TMT

2018 TMT

4

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This graph represents the average and median sale price for all homes sold in

SALE PRICE

Clark County, Washington

CLARK COUNTY, WA

Average and Median Sale Price $450,000 $400,000 $350,000 $300,000 $250,000

Average Sale Price

Median Sale Price

New Listings

NEW LISTINGS COWLITZ COUNTY, WA

160 140

120

This graph represents new

100

listings in Cowlitz County,

80

Washington over the past three calendar years.

60 40 20

2016

5

2017

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2018

Mar-18

Sep-17

Mar-17

Sep-16

Mar-16

Sep-15

Mar-15

Sep-14

Mar-14

Sep-13

Mar-13

Sep-12

Mar-12

Sep-11

Mar-11

Sep-10

Mar-10

Sep-09

Mar-09

Sep-08

$150,000

Mar-08

$200,000

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PENDING LISTINGS

Pending Sales

COWLITZ COUNTY, WA

130 110

This graph represents monthly

90

accepted offers over the past

70 50

three calendar years in Cowlitz

30

County, Washington.

10

2016

2017

2018

CLOSED SALES

Closed Sales

COWLITZ COUNTY, WA

100 90

This graph shows the closed

80 70

sales over the past five

2014

60

2015

50

2016

40

2017

30

2018

calendar years in Cowlitz County, Washington.

20 10 AUG

SEP

OCT

AVERAGE SALE PRICE

$350,000

COWLITZ COUNTY, WA

$300,000

$200,000

6

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Mar-18

Dec-17

Jun-17

Sep-17

Mar-17

Dec-16

Jun-16

Sep-16

Mar-16

$100,000

Dec-15

$150,000

Sep-15

County, Washington.

$250,000

Jun-15

for all homes sold in Cowlitz

Average Sale Price

Mar-15

monthly average sale price

DEC

Dec-14

This graph represents the

NOV

Jun-14

JUL

Sep-14

JUN

Mar-14

MAY

Dec-13

APR

Jun-13

MAR

Sep-13

FEB

Mar-13

JAN

Dec-12

0

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Contact RMLS™ 8338 NE Alderwood Rd Suite 230 Portland, OR 97220 (503) 236-7657

MEDIAN SALE PRICE March 2018 SW WASHINGTON

[email protected]

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.

PORTLAND

$349,900

$385,000

Woodland

N/NE Clark County

$311,000 $405,000

Battle Ground

Ridgefield/La Center

METRO

$ 286,700 Columbia County $471,500 Salmon Creek

Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, Mid-Columbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Josephine County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County.

$364,000 Felida

$ 490,800 North Washington County

Hockinson $306,500 Hazel Dell Minnehaha

$302,300 5 Corners Orch.

$288,300 Cent. Vancouver

Sauvie Island

$ 371,200 Hillsboro $ 375,000

$ 520,000 West Portland

Beaverton Aloha

$ 425,000 Tigard/Tualatin Sherwood Wilsonville

$414,500 Camas/Washougal $ 440,000 NE Portland $ 356,300 SE Portland $ 399,000

$ 563,300

$320,000 Cascade Park

$339,400 Heights

$ 410,000 N Portland

Forest Grove

$352,300 Brush Prairie

Milwaukie/Gladstone/ Boring/Clackamas Estacada

$ 339,900 Gresham Troutdale Sandy Corbett Fairview

Lake Oswego West Linn

$ 330,000

RMLS was formed by area Boards and Associations of REALTORS® in 1991. ™

E-mail subscriptions are available for $45 per year by contacting RMLS™. Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS™.

$ 370,000 Oregon City Canby Molalla Beavercreek

Yamhill County

Lori Palmero, Chairwoman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor

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$ 325,000 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp