Thursday, June 22, 2017
The Hottest Market Ever Seen Before Q1 2017
Stop giving away your property Waters Edge I've seen some pretty ignorant sales recently! Do you realize we had a massive renovation? We have new siding, new roofs, new decks, new gutters we are above all other condo's in SALMON CREEK!!!! !!! Yes we even have a garage as other condo's do not in the area! Call me 360-600-5555 to get an accurate market evaluation! REALTORS HAVE DESTROYED VALUES! There are some real incompetent Realtors out there!
Clark County Washington Real Estate has always been its very own independent market from Portland Oregon, or even National Statistics, yet I will at times make sure the consumer or a seller is given local knowledge with facts inside Clark County.
Despite the illogical innuendo, Today is possibly the Hottest Market ever seen in Historical levels inside Clark County, I will break it down, and the reasons why?
The reason why number one - population boom there is a significant housing shortage, and we are not talking the median home sales price of $299,900. "The Whole market to a 1.5 Million Dollar Home is Selling in 91 days this is California prices, you need to be aware Clark County is not slowing down as rumors Spread.” Just look at the DOM days on market we are headed into some heavy home prices. The vacancy rate is 2.4 percent the lowest in the nation as the average is 7 percent.
New Construction Preliminarily with lots up 435% that is all private money that puts thousands of high paying jobs into Clark County which means a sustainable future for Clark County. 1/3 of Clark County is New Construction and what does that tell you? Well, it means higher home prices are coming as Wall Street literally owns Clark County just as Herzog Farms in Felida that is selling 500,000 houses and receives 100% percent on list price v. sales price if not 102%.
I debunk lies, lets start with a housing bubble, there is no bubble as swarms of buyers flock into Clark County and pay cash, many other buyers put large amounts down since the crisis ended in 2012. There is no bubble the opposite is in affect as I drove through Portland last Saturday I counted 25 High Rise Cranes building multi-million dollar projects that furthermore indicates high paying jobs on infrastructure under construction. Which leads me to the water front construction in Vancouver Washington this looks like this will be beyond success as Vancouver is changing to a higher class.
I debunk lies, lets start with a housing bubble, there is no bubble as swarms of buyers flock into Clark County and pay cash, many other buyers put large amounts down since the crisis ended in 2012. There is no bubble the opposite is in affect as I drove through Portland last Saturday I counted 25 High Rise Cranes building multi-million dollar projects that furthermore indicates high paying jobs on infrastructure under construction. Which leads me to the water front construction in Vancouver Washington this looks like this will be beyond success as Vancouver is changing to a higher class.
Please remember to support my reports by calling me if you have a friend or family member looking to buy or sell, I am very good to my clients. Please call me any time 360-600-5555
Closed Residential Sales
582
Down 16.5% compared to 697 of this same period of last year
Down 9.3% Compared to March of 2017
New Listings
916
Down 11.9% compared to the same period of last year
Down 5% compared to March 2017
Pending Sales
798
Down 12% compared to the same period of last year
Down 4.65 compared to March 2017
Sold Terms 30 days history June 21st
721 total
427 Conventional
116 FHA
109 Cash
55 VA
9 USDA
Average and Median Home Sale Prices
Up 9.1% $336,000 V. $308,000 average sales price compared to the same period of last YR.
Up 9.2% $299,900 V. $274,900 median sales price compared to the same period of last YR.
Inventory
1.9 meaning it would take 1.9 months to sell the current inventory
The average market time is 56 DOM (days on market)
“Actual” Inventory Wed, June 21st
978 is the actual number after the subtraction of: proposed, under-construction, short-sale-pending, and bankruptcy.
Description of new-construction
326 active listings
Average: Sq. Ft. 2516, list price $506,129, DOM 88
Proposed to be built: 134
Under-construction 115
108 Turn-key
(These numbers reflect the data in the RMLS, yet it asserts reasonable confidence)
Breaking Down the Sales in $75,000 increments 1 month history June, 21st
|
$1 -$75,000 = 4 Average Sq. Ft 1,241 In-Park
|
$76,000 - $151,000 = 14 Average Sq. Ft. 1,397 DOM 34
|
$152,000 - $227,000 = 51 Average Sq. Ft. 1,215 DOM 40
|
$228,000 - $303,000 = 201 Average Sq. Ft. 1,505 DOM 20 Median Sales Price 299K
|
$304,000 - $379,000 = 205 Average Sq. Ft. 1,937 DOM 25
|
$380,000 - $455,000 = 97 Average Sq. Ft. 2,340 DOM 35
|
$456,000 - $531,000 = 68 Average Sq. Ft. 2,753 DOM 44
|
$532,000 - $607,000 = 50 Average Sq. Ft. 3,036 DOM 50
|
$608,000 - $683,000 = 15 Average Sq. Ft. 3,623 DOM 82
|
$684,000 - $759,000 = 10 Average Sq. Ft. 3,589 DOM 63
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$760,000 - $835,000 = 7 Average Sq. Ft. 3,951 DOM 64
|
$836,000 - $911,000 = 2 Average Sq. Ft. 4,598 DOM 226
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$912,000 - $987,000 = 0
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1 Million - 2 Million = 4 Average Sq. Ft. 5,385 DOM 91
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New Construction Valuations in Clark County WA Q1 17
Residential permits: down 46% with 176 permits compared to 326 permits in the first quarter 2016. From 2008 to 2017 the historical average is 176. Construction Valuation reached $114 million up 7% compared to the same period of 2016. The number of preliminarily approved lots rose 435% there were 594 lots preliminarily approved when 2016 same period saw 111 lots approved. Historically from 2008 to 2017 159 lots were approved.
Multi-Family and Vacancy Rate
The overall area vacancy rate is approximately 2.4% the lowest in the nation.
- · Studio: $946
- · One-bedroom: $1,053
- · Two-bedroom: $1,242
- · Three-bedroom: $1,808
- · Four-bedroom: $2,188
Thank You,
Bret Bucher
360-600-5555
Broker, Realty Pro Inc.
The information supplied herein is from sources deemed reliable but not guaranteed. 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.
The information supplied herein is from sources deemed reliable but not guaranteed. 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.
