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Vancouver, WA Housing Market Trends
In October 2024, Vancouver's real estate market experienced a slight uptick, with home prices rising by 0.7% year-over-year, reaching a median price of $478K. Homes in Vancouver are now taking an average of 27 days to sell, compared to just 20 days during the same period last year, signaling a possible cooling in buyer urgency or increased inventory. A total of 149 homes were sold in October 2024, showing a modest increase from the 145 homes sold in October 2023, suggesting steady demand despite the slower market pace. These trends indicate a stable yet slightly more balanced market, with buyers having more time to make purchasing decisions.
Vancouver's housing market remains highly competitive, with homes typically selling within 24 days. Many properties receive multiple offers, often with some buyers waiving contingencies to secure their purchase. On average, homes sell for approximately 1% below the listing price and go under contract within 24 days. However, "hot" properties—those in high demand—can sell for about 1% above the listing price and go pending in as little as six days. These trends reflect strong buyer interest and a willingness to act quickly for desirable homes, especially in sought-after neighborhoods or price ranges.
In October 2024, Vancouver, WA, exhibited characteristics of a seller's market, with demand outpacing the available housing inventory. Homes typically sold within 24 days, often attracting multiple offers, some of which included waived contingencies—a strategy buyers use to make their offers more appealing in competitive markets. On average, properties sold for about 1% below the listing price and went pending in approximately 24 days. However, highly sought-after homes, known as "hot" homes, frequently sold for about 1% above the listing price and went pending in as few as six days. These trends indicate a robust demand for housing in Vancouver, with buyers acting swiftly and competitively, especially for desirable properties.
For detailed, up-to-date information on buying/selling a house in Vancouver, including legal considerations and market trends, you can talk to us.
Vancouver offers several family-friendly neighborhoods with excellent amenities. Fisher’s Landing East is known for its great schools, parks, and proximity to shopping and dining. Felida is another popular area, offering quiet streets, spacious homes, and community-oriented activities. Cascade Park is favored for its mix of affordability and convenience, with easy access to schools and recreational facilities. Families often prioritize these neighborhoods for their safety, green spaces, and accessibility.
Yes, Washington State offers several down payment assistance programs that can help first-time and eligible homebuyers in Vancouver. The Washington State Housing Finance Commission (WSHFC) provides the Home Advantage Program, which offers down payment assistance in the form of deferred loans. Additionally, local credit unions and banks may offer specific assistance programs tailored to the Vancouver area. Buyers should work with a qualified lender who is familiar with these programs to explore their eligibility and maximize financial benefits.
Property taxes in Vancouver, WA, are relatively moderate compared to neighboring states like Oregon. The property tax rate in Clark County, where Vancouver is located, typically averages around 1.1% of a home’s assessed value, but this can vary depending on the specific area or district. Buyers should also note that Washington does not impose a state income tax, which can offset property tax costs. Buyers can confirm exact tax rates with the Clark County Assessor’s Office before purchasing.
To attract buyers in Vancouver, sellers should focus on creating a warm, inviting atmosphere. Start with curb appeal: clean up landscaping, add a fresh coat of paint to the front door, and ensure exterior lighting works. Inside, declutter and depersonalize the space so buyers can envision themselves living there. Highlight key spaces like the kitchen and living room by ensuring they are clean, well-lit, and minimally decorated. Finally, consider adding touches that reflect the Pacific Northwest's charm, such as natural elements like plants or wood accents.
If your home is part of a homeowners association (HOA), you’ll need to provide certain documents to potential buyers, including the HOA's rules (CC&Rs), bylaws, and financial statements. Washington state law requires that sellers disclose any HOA fees and special assessments. Ensure your HOA account is in good standing to avoid delays. It’s also a good idea to work with a real estate agent familiar with HOA transactions to navigate this process smoothly.
While not all homes require renovations before selling, focusing on cost-effective updates can increase a home's appeal and value. For example, minor kitchen updates, fresh paint, and updated light fixtures often provide a good return on investment. In Vancouver, buyers often appreciate energy-efficient features due to the region's commitment to sustainability. Sellers should prioritize repairs for any major issues, such as plumbing or roofing, to avoid problems during the inspection phase. Consulting with a real estate agent can help determine which updates are worth making based on your home’s condition and the local market.
Whether you’re looking for your first home, upgrading to a larger space, or seeking the perfect neighborhood for your lifestyle, David is here to help. With extensive knowledge of Vancouver, WA, and a commitment to personalized service, he’ll guide you every step of the way. Don’t hesitate to reach out with any questions or to explore your property options—your next home could be just a call or message away!
From vibrant communities to hidden gems, our Vancouver, WA neighborhood guide has everything you need to find the perfect place to call home. Dive into detailed insights about schools, parks, amenities, and lifestyle options to see which area fits your needs. Start exploring now and uncover what makes Vancouver such a fantastic place to live!
With more than 25 years of corporate retail experience (sales, buying and district management), I strive to give every client the personal service and attention to detail that they deserve. I would love to work with you on your next real estate adventure. Contact me anytime.