Attached Housing Clark County Washington
October 2007
Today’s topic discussion covers-real estate appraisal Washington- the attached housing market in Clark County Washington. The territory covered ranges from Vancouver, to Camas/Washougal, to Battle Ground, to Ridgefield, Washington.
As of October 2007 there were 291 listings in this category. The high list price was $849,900 and the low was $149,950. The average list price was $275,392. The average sales price for sales in this category over the last 12 months was $359,384 (Note: This is the average over the last 12 months, not just the recent month). The high days on market (DOM) was 334, with the low being zero (0) and the average 85. The average list to sales price ratio was 99%. A year ago the average sales price to list price was 95%. (This if for the whole market, not just attached housing.) With a total sold of nine (9) in the last month and 298 on the market there is currently about a 33 month supply on the market.
Although average marketing time, or Days on Market (DOM), was 55 a year ago and now is 85 (a 55% increase) the marketing times have been reasonable at less than 90 days over the past year. However, with a 33 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 5.5% to 6.25% and 15 year from about 5.0% to 5.5%. This is still a very favorable climate for market activity except for the current high inventories (and ,of course, the loss of available money for the B, C and D credits).
Statistics are from the local MLS
Ralph Olsen, Appraiser at PWAS.NET
2
Popularity: 45% [?]