12/06/2024
It’s been almost a year since I covered the monthly action report of Clark County Washington. It’s time to get back to it. Let’s break this down together.
NEW HOMES LISTED
This November, we were down 29% of new homes listed compared to this October. That is historically typical for the time of year. Sellers are bunkering down for the holidays to enjoy their current home one last season. The better comparison is year over year which is up 6.2%.
What does this say? There are a LOT of variables right now. Is it more people are NEEDING to sell? Is it more people are willing to get rid of their historically low interest rate to get into their forever home? Is it more are confident (or less confident) with our economy? It’s hard to say.
Fun Fact - The areas with the most new listings were: Camas (59), Brush Prairie (42), Evergreen (39), Ridgefield (38), and Battle Ground (36).
PENDING SALES
Again, we were down on pending sales from October to November this year by 14.7%. It was a big jump though from November 2023 vs 2024 with 34.2% increase in pending sales.
What does this say?
And again, there are lots of variables here too. Are prices dropping so buyers are jumping in? No, you will see that below. Are rates improving, so buyers can afford the home available. Possibly.
Fun Fact - The areas with the most pending sales: Brush Prairie (48), Camas (45), Evergreen (39), Battle Ground (32) and Washougal & E Hazel Dell (31).
CLOSED SALES
Wow, a 44.8% increase year over year in closed sales is quite the jump. It could have something to do with the increased inventory available, so buyers are more confident on their decision to become homeowners. Again, it could be due to lower rates from last year and buyers qualifying.
Fun Fact - The area with the most closed sales: Brush Prairie (53), Camas (45), Ridgefield (37), E Hazel Dell (31), and Evergreen (29).
DAYS ON MARKET
Homes are continuing to sit a little longer before buyers hop in. They say a healthy market that is still comfortable to sellers, but not a true swing to the buyers is under 90 days. That is hard to believe since it’s been so much lower for quite some time now. Point, being up five days this month over last month or 16 days year over year is not all doom and gloom.
Fun Fact - The area with the shortest days on market were: SW Heights (18), SE County (28), NE Corner (40), E Heights (43), and N Hazel Dell (45).
Well that is interesting to see all new area compared to new listings, pendings, and closed.
AVERAGE SALES PRICE
Though we were down roughly $35K for our average sales price from last month, we were up almost $30K from last year at the same time. The bigger thing to watch though is the 10+ year growth. Though we have little dips here and hills there, the market has been at a healthy increase since November 2011. Real Estate is always safest when playing the long game.
Fun Facts - The areas with the highest average sales price: Ridgefield ($1,112,100), Camas ($899,400), Mid-Central County ($774,800), Washougal ($769,300), and Central County ($767,700).
With all that said, what fact surprised you the most?
Have questions if now is a good time to buys, sell or invest? Let's chat!
