Vancouver Real Estate Market Update Late-September 2023

Find out what’s happening in the Vancouver real estate market for Late-September 2023.

Hi there, I’m Carrie Struss licensed real estate agent in OR and WA with the Bridge To Portland team at Living Room Realty, here to tell you what you need to know about the Southwest Washington real estate market for Late September 2023.

Let’s Talk Numbers

Last month in Clark County we had an average sale price of $553k, with houses selling at 100.2% of their listing price in 11 days on average.

But….that was August. It is late Sept and it feels like someone suddenly HIT THE BRAKES.  Let’s look at the numbers for active listing to get the current temperature of Southwest Washington. This is the last week of August, the active listings time on market was 21 days. Fast forward 3 weeks to the 3rd week of Sept and the time on market practically doubled to 40 days.

So what happened between the end of August and now? Well, for one, school started which triggers a statistically slow time in the market. But specifically in Clark Co both Evergreen and Camas School District teachers went on strike, preventing kids from being able to go to school for two weeks. So my clients with kids were MIA. Additionally, affecting everyone, interest rates continued to unsteadily climb by almost half a point from 7.1% to 7.5%. 

With higher payments and loans costing more, I am seeing a lot of my Buyer clients be very picky, or I should say particular and realistic about what they can buy and want to buy. What condition the house is in plays a huge factor in that decision. The fact that the same house now costs 4% percent more a month than it did just 3 weeks ago makes buyers less inclined to purchase something that might need a little work or might not fit all of their needs. 

Inventory

Alternatively, inventory sucks. We have 1.6 months of inventory in Clark Co. So Sellers have the opportunity to give the market what it needs, which is inventory. But you need to do so with patience and understanding that right now your house may take longer to sell than you expect and that you are likely going to be asked to contribute towards buyers closing costs for temporary or permanent rate buy downs and/or asked to do repairs or give the Buyer credit towards their closing cost. 

Despite 42% of this week’s active listings having price reductions, inventory levels still puts us in a Sellers market. Seeing how September’s average sales price compares to August will give us a better sense of what the current rates will do to future prices. However, economists are predicting rates will remain at or above current levels well into 2024 if not longer. This will likely cause enough downward pressure on prices to put us into a more neutral buyer/seller market through winter.

Seasonal Changes

Winter is coming, but so is opportunity when both buyers and sellers understand what’s going on in the local market week by week and have knowledgeable agents to guide them through.

Make A Move

Living Room Realty is here to help you make an informed decision. If you’re ready to make a move, give us a call today. We’d love to help you find your next living room. 

Carrie Struss

Broker | OR & WA

She/Her

Carrie brings eight years of experience as a Licensed Broker in Oregon and Washington, combining her industry expertise with an eye for detail honed through her degree in Commercial Photography. Her career began with one of her proudest accomplishments: relocating to New York straight out of college to work as a photo producer, where she never settled for an entry-level mindset. It is this same tenacity that has helped make her the top producing agent at Living Room Realty in the Vancouver, WA area since 2021. This accomplishment is a testament to her unwavering commitment to client success. Throughout her career, Carrie has had the privilege of assisting over 100 homeowners achieve their real estate goals. What sets Carrie apart as an agent is her empathetic approach, ensuring that every client feels heard and understood throughout the buying or selling process. Carrie has lived in the Pacific Northwest since 2017, though she’s been visiting the area since her teenage years. Beyond her professional life, Carrie finds peace and joy in nature, spending summers by the river and winters in Hawaii. Amidst her successful career, Carrie's greatest joy is her son Jack, who brings boundless love and inspiration to her life. As your agent Carrie will…

• help get your home (and emotions) ready to sell, then sell your home.
• find you a new home complete with (fill in the “must have” blank).
• facilitate the transaction making sure everyone does what they need to do and has what they need to do it.
• negotiate tenaciously for you.
• educate you on the daunting, overwhelming, and at times stressful process.
• remain calm, always.
• keep you focused on your goals.
• pay attention to every detail.
• show up.
• effectively communicate in the way that works best for you.
• uphold Living Room Realty’s values and what they mean to her.

"I care about where you live. I care about you home, your street, your neighborhood, your community. All the things that are important to you will be my priority. I look forward to working with you!"

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• T: 503-953-0850
• carrie@carriestruss.com