2020: Local Real Estate Statistics
Posted January 19, 2020 in Real Estate Trends
2020 looks to be another strong year for Clark County real estate. The stats from 2019 are the reason for my prediction. According to the Clark County Association of Realtors (CCAR) and Regional Multiple Listing Service (RMLS), new listings in December 2019 increased 6.6% from December 2018. Pending sales—meaning offer accepted but not yet closed–increased 9.7% from December 2018. Closed sales increased 32.2% from December 2018 and increased 1.3% from number of closings that recorded in November 2019.
The number of new listings in 2019 was nearly identical to that of 2018, while pending sales went up 5.8% and closed sales increased by 2.6%. In 2019, the average sale price increased 3.7% from $393,000 to $407,700. Median sale price increased 4.5% from $355,000 to $371,000.
Interest rates remain attractive. New construction is solid. Demand is high for every type of residence, both rental and owner-occupied. What’s the future hold? That’s where I would direct you to the experts: the professional Realtors and lenders within Clark County. They are the people with the insider knowledge of the local market that will insure you aren’t guessing values and trends. Every property is different, and you can’t determine your best course of action based only on the statistics I quote above. Seek out the professionals that can help you.
We’re expert on a few aspects of real estate: title research, escrow closings, document preparation, and assisting property owners with development. For pricing, selling, buying, and lending, we leave that to the professionals that have made those important tasks the focus of their careers.
We couldn’t be prouder that many of the best Realtors and lenders recognize that our role in real estate is important. They realize that our experience, expertise, and effort combine to create a better real estate transaction—for everyone involved. I hope the professional title and escrow people at Clark County Title will have the chance to work with you in 2020!
Clark County Title
1400 Washington St, Ste. 100
3200 SE 164th Avenue, Ste. 219
Vancouver, WA 98683