The Real Estate market has shown much greater strength this year than in recent past years, for sure. There's an optimism in the market that we may be slowly moving toward stronger home prices, and a more vibrant home sales record for not only this year, but for the coming year or two as well.
There's certainly still nervousness across the US regarding the sustainability of the recovery of the economy, but that nervousness has been tempered to some degree by more and more home owners who have, for the past 5-7 years, been upside down in their equity position, this year, being able to offer their home for sale and not have to bring money to the closing table to get their home sold! That's tangible improvement to say the least.
Inserted here is the most recent Movoto summary report of real estate activity here in Vancouver WA...
Vancouver Real Estate Trends & Statistics
Vancouver Market Snapshot
| Today | 1 Month Ago | 1 Year Ago | |||
|---|---|---|---|---|---|
| Total Inventory | 1,312 | 1,240 | 6% | 1,165 | 13% |
| Median List Price | $250,000 | $258,000 | 3% | $244,900 | 2% |
| % Distressed | 2% | 1% | 4% | ||
| Median Days On Movoto | 59 | 55 | 7% | 85 | 31% |
| Median House Size | 2,000 | 2,021 | 1% | 2,051 | 2% |
| Median $/Sqft | $132/sqft | $130/sqft | 2% | $121/sqft | 9% |
Vancouver Market Data
| 2/13 | 3/13 | 4/13 | 5/13 | 6/13 | 7/13 | 8/13 | |
|---|---|---|---|---|---|---|---|
| Price Reductions | 211 | 207 | 227 | 273 | 303 | 362 | 425 |
| New Listings | 474 | 497 | 651 | 647 | 672 | 634 | 606 |
| Sold/Expired | 571 | 618 | 622 | 687 | 604 | 637 | 580 |
By the way, if you have any questions about any of the this, or would like to know more specifically what your home is likely to bring fair market value, please give us a call (360-253-1212) anytime! We're glad to help.
The Equity Northwest Properties Team
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