The Blog ofWashington First

How’s the Market?

Below is an excerpt from the Regional Multiple Listing Service’s most recent “Market Action” report that comes out monthly and is e-mailed to all member Realtors. This is data specific to the Southwest Washington Area market.

December Residential Highlights

Southwest Washington closedthe year with an uptick in closedsales. Closings, at 729, ended 9.3%ahead of last year in December 2015(667) and 3.4% ahead of last monthin November 2016 (705). This wasthe strongest December for closingsin Clark County on the RMLS™record, going back to 2000!

Pending sales (499) fell 0.6%short of December 2015 (502) and18.5% short of November 2016 (612).Similarly, new listings ended 7.0%below the 431 new listings offeredin December 2015 and 31.8% belowthe 588 new listings offered lastmonth in November 2016.

Inventory in December decreasedslightly to 1.5 months, with totalmarket time increasing by threedays to 53 days.

Year to Date Summary

Activity increased in 2016compared to 2015. Comparing allof 2016 to 2015, closed sales (8,880)increased 5.8%, pending sales(9,074) increased 3.3%, and newlistings (10,947) increased 3.0% .

Average and Median Sale Prices

Comparing 2016 to 2015 throughthe end of each year, the averagesale price rose 10.2% from $298,300to $328,600. In the same comparison,the median sale price rose 9.4%from $265,000 to $290,000.

Area Report

Below is a table with data from the RMLS. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market:

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