Vancouver WA Condo and Townhome Market Report for October 2009

Condo and Townhome Market Report for Vancouver Washington - October 2009

Early this month we logged into the MLS for Condos for sale Vancouver WA and Townhomes to obtain a quick update of what happened Condo wise within the confines of Vancouver, in Clark County Washington. Here is what we have to report:

From this snap-shot view we see a 15 more Pending transactions (24%+) and 39 more Solds compared to September, as well as a 10% Decrease in the number of total Active listings available at the end of the month. This month the 3rd Party + Pre-Forclosures + Foreclosures combined are about 27.6% of the Active condo homes listed (23.2% last month), yet they represent about 41.6% of the homes going under contract (35.5% last month). October was a very good month for Condos and Townhomes in Vancouver!

Key items we are looking for in a market turnaround are not just an increase in the number of transactions but, an increase in the non-Pre-Foreclosure / Foreclosure category. In our opinion we have started to see a seasonal shrinkage of inventory and perhaps a rush of buyers trying to close their Condo home purchases prior to the more restrictive FHA lending policies directly impacting Condo Loans.

If you are looking to sell your Condo or Town Home in Vancouver or Clark County Washington in this challenging market time please call or e-mail us with the details of your situation and we'll customize a marketing plan to get your Vancouver Washington Condo Home Sold!

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Definitions:
1) 3rd Party = the sales contract requires the approval of a third party; and includes Short-Sales, Trust Sales, Relocation Company sales, etc.
2) Pre-Foreclosures = aka Short-Sales are homes where the lending bank(s) agrees to take less, allowing a sales transaction to take place.
3) Foreclosures = aka REO's and Bank Owned Homes, already Foreclosed by the Lender(s).
4) PENDING = listed homes that have been marked as under contract by the listing agent during the past 30 days.
5) SOLD = listed homes that have been marked as closed sales by the listing agent in the past 30 days. Note: some of these sold homes may have been "pending sales" for far more than 30 days!

Disclaimer: this information is drawn using custom search parameters from the predominant MLS system covering Vancouver Washington and is not guaranteed to be accurate.

The above information was provided by John Slocum and Kathryn Alexander, recognized as one of the top teams at REMAX Vancouver WA. We hope you enjoy the information in our posts, including videos on real estate and Living in Vancouver Washington and the rest of Clark County.

Thinking of selling your home in this market? We have the insight and passion for selling homes to get you moving!

For Southwest Washington homes and Real Estate in Vancouver WA visit Vancouver WA Real Estate. If you have an immediate need to search the MLS for Vancouver WA please visit Vancouver WA Homes For Sale

If your interest is in foreclosures, pre-foreclosures (short-sale homes) and Bank Owned Homes in Vancouver WA we have a special search set up for you at Foreclosures Vancouver WA.

Current MLS Market Report for Vancouver WA and Clark County