What’s happening with home prices in Clark County?
Posted November 22, 2021 in Real Estate Trends
As reported by The Columbian, the average Clark County sale price increased from $530,200 in September to $545,000 last month. A year ago, the average price for a home was $519,500. That’s a $25,500 difference in one year. If that sounds high, consider that the median price for homes sold in Washington—statewide, not just Clark County–during the second quarter of this year was $570,800, 31.7 percent higher than a year earlier.
While pending home sales usually decrease from September to October—that’s happened in nine out of the last 10 years– this year, pending sales increased.
In other words, the real estate market continues to sizzle. Builders are scrambling to find buildable lots and build homes to meet the steady demand. Buyers in all but the highest price categories are in a competition to beat out other buyers. Renters that decide to stay out of the frenzy are finding rents rising.
Clark County isn’t the only county where affordability is an issue. In 19 of Washington’s 39 counties, housing affordability is difficult, as measured by the Washington Center for Real Estate Research’s comparison of median income to median home price. Opponents of growth can argue that, if we don’t build it, they won’t come, but the reality is that people continue to be attracted to Clark County and Southwest Washington, and will pay whatever it takes to live here.
The challenge for our community is to keep our quality of life in the face of a growing population. That’s why Clark County Title is a member of the Responsible Growth Forum, an organization dedicated to accommodating growth in a way that protects the qualities that make Clark County appealing in the first place.
Since 1980, Clark County Title has cared deeply for our community. We’re local— not a big, national corporation. We’re the hometown title company. Our goal is to provide the very best service possible to Realtors, lenders, buyers and sellers, and work as a team with other professionals to help you achieve your real estate goals.
Let us be a part of your real estate team!