Real Estate Market Update October 2022, Vancouver, WA

The Clark County housing market includes the cities of Vancouver, WA; Camas, WA; Ridgefield, WA Battleground, WA Washougal, WA; and other outlining cities. This Market Report is a snapshot of the activity in October 2022.

What is The Average Home Price in Vancouver, Washington?

The median sales price for single-family homes was $525,000. In October 2021, the median sales price was $485,000, reflecting an 8.2% increase. The average sales price in October 2022 is 3.7% from the previous year. The average home price in clark county, was $578,200.

MonthMedian Sale PriceAverage Sale Price
October 2021$485,000$509,500
October 2022$525,000$578,200
Average Sale Price Clark County WA October 2022
Source: RMLS

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Average Time on Market

October 2022 Cumulative Days on Market(CDOM) was 43 days. The red line shows inventory increasing as on July 2022. Longer days on the market can be advantageous to a home buyer when negotiating terms. We are expert negotiators and can help with determining the terms that meet your goals.

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Available Inventory by Months

The data below shows the monthly inventory levels over the last three years. In the example below, the number of months indicates how long it would take to sell the current inventory of homes. COVID-19 dramatically impacted inventory, and we are only returning to pre-pandemic inventory levels.

Clark County202020212022
Inventory in Months, including proposed and under construction

Vancouver, WA housing market forecast 2023

Are home prices dropping in Vancouver WA? Low inventory and high-interest rates have significantly slowed sales activity in the Vancouver, Wa, housing market. However, specific neighborhoods are performing well under the current housing slowdown in cities with top-performing schools and luxury homes. Camas, WA; Ridgefield, WA; Brush Prarie, WA; Battleground, WA; and Vancouver neighborhoods in Cascade Park, Fishers Landing, Felida, and Evergreen continue to see low inventory and high demand for new listings.

In most instances, buyers can negotiate favorable terms with sellers, except for the high-demand neighborhoods mentioned. Interest rates deter some buyers, but those willing to pay a higher rate for a short period will find better opportunities. At this time, there is no indication of a Vancouver, WA housing bubble. Ask us how we can help you determine if this is the right time to buy or sell.

Will the house prices drop in 2022 WA?

Monthly sales data is a good indicator of the Vancouver, WA real estate trends 2022, including inventory levels and days on the market. The graph below shows a decline in listings and sales activity, and the second graph shows prices are experiencing a slight drop but not a significant correction.

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Graph of inventory data over 12 months

New Listings by Year and Month

Inventory of new listings has dropped significantly since June 2022 compared to the inventory levels of the past two years. COVID-19 also impacted the listing inventory in March 2020, creating a frenzy for housing. The last quarter of the year is generally the slowest for real estate sales activity.

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Source: RMLS October 2022

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Will housing prices go down in Portland?

There are no indicators of a housing bubble in Portland, Oregon. Vancouver, WA, is so close to the Oregon border that many buyers also consider living in Portland, Oregon, vs. Clark County, WA. The two markets are very similar in price and value. The map below provides a quick comparison of the median sales price.

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Source: RMLS

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