Duplex Market Vancouver, Washington
Residential Duplex Market in Vancouver, Washington
Questions about duplexes have been coming up quite often recently. It seems that the expectations of buyers and owners in this market segment continues to soar, even after the market has cooled. I looked at several geographic areas of the market. Following are the statistics and trends that I found.
Looking at Vancouver, Harney Heights to Hazel Dell, duplexes only:
Harney Heights to Hazel Dell
| Time Frame | Ave. Days on Mkt. | Average Sale Price |
| Fall 2004 to Fall 2005 | 43 | $194,885 |
| Fall 2005 to Fall 2006 | 56 | $209,711 |
| Fall 2006 to Fall 2007 | 81 | $229,050 |
Looking at the I-205 corridor out to State Route 500:
I-205 Corridor from SR 14 to SR 500
| Time Frame | Ave. Days on Mkt. | Average Sale Price |
| Fall 2004 to Fall 2005 | 20 | $233,897 |
| Fall 2005 to Fall 2006 | 55 | $289,883 |
| Fall 2006 to Fall 2007 | 41 | $276,493 |
In the first example, which is older housing stock, the trend has been consistent. Duplex prices have been rising while marketing time has also been rising. This suggests an arrival of price stabilization, if not softening.
In the second data group the market has been rising. There is a mixed message. Prices rose then fell back a little, on average. At the same time the average days on market rose then fell back somewhat. This makes it hard to tell what will happen next.
Even though more money has been injected into the system and interest rates have fallen the market could still soften more.
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