clark county manufactured housing
October 2007
Today’s topic discussion covers -real estate appraisal Washington-the manufactured housing market in Clark County Washington. It deals with manufactured houses on one (1) to twenty (20) acre sites. The territory covered ranges from Vancouver, to Camas/Washougal, to Battle Ground, to Ridgefield, Washington.
As of September 2007 there were 39 listings in this category. The high list price was $449,900 and the low was $199,000. The average list price was $300,126. The average sales price for sales in this category over the last 12 months was $271,495 (Note: This is the average over the last 12 months, not just the recent month). The high days on market (DOM) was 281, with the low being three (3) and the average 77. The average list to sales price ratio was 97%. A year ago the average sales price to list price was 95%. With a total sold of five (5) in the last month and 39 on the market there is currently about an eight (8) month supply on the market.
Although marketing time, or DOM, was 55 a year ago and now is 77 (a 40% increase) the marketing times have been reasonable at less than 90 days over the past year. However, with an eight (8) month supply currently on the market the DOM is likely to rise significantly. And, at the same time, appreciation in Clark County as a whole has been 4.7% over the last 12 months. By comparison it was 10.6% in January of this year for the prior twelve months average. So, you can see it has been dropping. And, it is predicted to continue to drop.
Forecasting is hard to predict. With the market cooling as it is, sales slowing, inventories rising, what the next three to four months hold in store will be interesting to see.
Available interest rates locally for fixed 30 year hover around 6% to 6.5% and 15 year from about 5.5% to 6%. This is still a very favorable climate for market activity except for the current high inventories (and ,or course, the loss of available money for the B, C and D credits).
Ralph Olsen, Appraiser PWAS.NET
Statistics are from the local MLS
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Popularity: 47% [?]