Sellers rejoice, buyers beware: Housing prices continue to surge in Clark County, with the average sales price jumping more than 5 percent over the past year.
The median sales price was $291,300 in July, according to a new report from RMLS, an area listing service. That’s up from $273,700 in July 2015, though a tick down from June’s record-high median price of $293,500.
“Southwest Washington had cooler activity in July,” reads the Market Action report.
Homes are going faster, spending 25 percent less time on the market this July compared with last year.
But it has been a relatively slow summer — closed sales are down 10 percent year-over-year.
The supply of for-sale, proposed and under-construction homes increased noticeably for the first time this year, rising from 1.8 months’ of inventory to 2.2 months. Still, the number of active listings is well below where it was in 2015 and 2014, even as closed sales are outpacing last year’s total to date.
Camas, Washougal and Brush Prairie had the most active listings in July, with a combined total of 469 — nearly 30 percent of all active listings in Clark County. Ridgefield and north Salmon Creek each had more than 90 active listings, while rural north and east parts of the county were quietest.
The highest median sales price in the county last month, $386,500, was in Camas/Washougal. The lowest could be found in west and central Vancouver, with a median sales price of $229,000 in July.
The Lake Oswego and West Linn, Ore., area held the metro area’s highest median sales price at $536,000, with half of homes selling lower than that amount and half selling for more.