SOUTHWEST WASHINGTON 2019 MARKET REPORT
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2019 ANNUAL REPORT
MIKE GRADY
COLDWELL BANKER BAIN PRESIDENT & COO
Reflecting on the 2019 numbers and the interesting turn of the market in the fourth quarter, Mike Grady, Coldwell Banker Bain president and COO, said, “As we closed out the year, 2019 turned out to be quite different than we had expected. We expected that because the double-digit appreciation of home prices had modified in May 2018, more sellers would proceed with selling their existing homes in 2019. This, of course, would have resulted in more inventory, stabilizing prices even more while increasing units sold. Had this transpired, 2019 would have resulted in increased volume as a result of more units and slightly higher average sales prices than in 2018.
‘old normal.’ December of 2019 proved to be better than December of 2018 in just about every single category – this notwithstanding weather that was not as mild as last year, and weather typically has an impact on sales. Yet we see again that the number of pending transactions outpaced the number of listings taken along with an increased appreciation. With inventory in King County below one month, we can only surmise that 2020 will show a return to rising home prices as a result of the lack of inventory and continued robust job market. So, while buyers continue to benefit from low interest rates, there are simply not enough homes for sale and the market,
However, that didn’t happen. Instead, the ‘aberration’ we saw in November continued… so perhaps it’s not an aberration after all and we may be returning to the
once again, is leaning more strongly toward sellers. These predictors indicate that the first quarter of 2020 will be active.”
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
3
2019 ANNUAL REPORT
DAVID KNODE
PRINCIPAL MANAGING BROKER OF VANCOUVER EAST
“ The beginning of 2019 in Clark County saw a definite
actually dropped a few times. We started to see periodic
increase in new listings,” said David Knode, Principal
multiple offers with 2019 ending with an almost exact
Managing Broker of Coldwell Banker Bain of Vancouver
number of new listings compared to 2018. However,
East. “Coupled with a reduction in the number of sales
there was a slight increase in pending sales, up 5.8%
which bled over from 2018 and led to a significant
over 2018 and closed sales were up 2.6% over 2018.
increase of the months of inventory at the beginning of
Where are we going in 2020? We expect there may
the year. The first six months of 2019 were filled with
be a bit more inventory available. New construction
thoughts of the Fed increasing interest rates and overall
in Clark County has blossomed in a very large way,
lower consumer confidence. The market felt sluggish
and preowned home owners must price their homes
and there was a bit of unsureness as to where it was
correctly to compete with new construction. All of the
going. However, in June or July activity started to pick
economic indicators in Clark County are healthy and
up as the fear of the Fed raising rates fizzled and rates
point toward a 3% – 4% increase this year.”
4 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
SW WASHINGTON
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
FISHERS LANDING / CAMAS / WASHOUGAL / HEIGHTS-CASCADE PARK / BRUSH PRARIE / HOCKINSON / ORCHARDS
AVERAGE SOLD PRICE (NEAREST $000)
AVERAGE DOM
Fishers Landing
21
$400K $549K
Camas
50
$436K
Washougal HeightsCascade Park
46 40
$416K
Brush Prarie Hockinson
$468K
44
$472K
48
$344K
Orchards $100K
$200K
$300K
$400K
32 $500K
$500K
NUMBER OF SALES CLOSED 1500 1200
4648
900
TOTAL SALES CLOSED
1287 386
600 300
189
687
Fishers Landing
Camas
343
1050 706
0
Washougal
HeightsCascade Park
Brush Prarie
Hockinson
Orchards
TOTAL SW WASHINGTON INVENTORY / 724
INVENTORY IN UNITS / 12.31.2019 1000 800
8
140
47
41
236
185
67
-55.6%
+18.6%
-35.6%
-37.9%
+0.4%
+3.4%
-53.5%
Fishers
Camas
Washougal
HeightsCascade Park
Brush Prarie
Hockinson
600 400 Landing 200
Orchards
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
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SW WASHINGTON
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
RIDGEFIELD / BATTLEGROUND / WOODLAND / LA CENTER / SALMON CREEK / FELIDA / VANCOUVER /
AVERAGE SOLD PRICE (NEAREST $000)
AVERAGE DOM
Ridgefield
56
$485K
Battleground
$417K
46
1500 Woodland
$418K
46
1200 La Center
68
$471K
900 Salmon Creek
43
$442K
600 Felida
51
$494K
300 Vancouver
35
$350K $100K
0
$200K
$300K
$400K
$500K
NUMBER OF SALES CLOSED 1000 800
3426
600
TOTAL SALES CLOSED
687
400 200
909 694
386
687
343
319
0
Ridgefield
Battleground
Woodland
La Center
Salmon Creek
Felida
Vancouver
TOTAL SW WASHINGTON INVENTORY / 538
INVENTORY IN UNITS / 12.31.2019
157
122
23
2
110
42
82
+20.8%
-6.9%
-20.7%
+75.0%
-14.1%
-45.5%
-34.9%
Battleground
Woodland
La Center
Felida
Vancouver
Ridgefield
6 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
Salmon Creek
SW WA COUNTIES
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
CLARK COUNTY / COWLITZ COUNTY
AVERAGE SOLD PRICE (NEAREST $000)
AVERAGE DOM
Clark County
42
Cowlitz County
38 $100K
$200K
$300K
$400K
$500K
NUMBER OF SALES CLOSED
8000 7000 6000 5000
7567
4000 3000
8929 TOTAL SALES CLOSED
1362
2000 1000 0
Clark County
Cowlitz County TOTAL SW COUNTY INVENTORY / 1287
INVENTORY IN UNITS / 12.31.2019
1108
179
-15.8%
-15.2%
Clark County
Cowlitz County
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
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SW WASHINGTON B ATTLEGR OU ND
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
Q4 | 2018
CHANGE
783
676
+15.8%
$417,000
$412,000
+1.20%
$417K
46
38
+21.1%
AVERAGE SOLD PRICE
97%
98%
-1%
UP +1.20% from 2018
Q4 | 2019
Q4 | 2018
CHANGE
1050
1006
-4.40%
$468,000
$444,000
+5.40%
$468K
44
43
+2.30%
AVERAGE SOLD PRICE
98%
98%
+0%
UP +5.40% from 2018
B R USH PR AI R I E
Q4 | 2019
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
8 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
SW WASHINGTON CA M A S
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
Q4 | 2019
Q4 | 2018
CHANGE
687
599
+14.7%
$549,000
$546,000
+0.50%
$549K
50
46
+8.70%
AVERAGE SOLD PRICE
97%
97%
+0%
Q4 | 2019
Q4 | 2018
CHANGE
319
323
-1.20%
$494,000
$491,000
+0.60%
$494K
51
41
+24.4%
AVERAGE SOLD PRICE
97%
97%
+0%
UP +0.60% from 2018
UP +0.50% from 2018
FE LI DA
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
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SW WASHINGTON FI S HER S LA ND I NG
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
Q4 | 2018
CHANGE
189
193
-2.10%
$400,000
$393,000
+1.80%
$400K
21
29
-27.6%
AVERAGE SOLD PRICE
99%
98%
+1%
UP +1.80% from 2018
Q4 | 2019
Q4 | 2018
CHANGE
343
353
-2.80%
$416,000
$398,000
+4.50%
$416K
40
31
-29.0%
AVERAGE SOLD PRICE
97%
98%
-1%
UP +4.50% from 2018
HE I G HTS- CASCADE PA RK
Q4 | 2019
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
10 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
SW WASHINGTON HOCKI NS ON
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
Q4 | 2019
Q4 | 2018
CHANGE
706
721
-2.10%
$472,000
$451,000
+4.70%
$472K
48
47
+2.10%
AVERAGE SOLD PRICE
98%
98%
+0%
Q4 | 2019
Q4 | 2018
CHANGE
35
23
+52.2%
$471,000
$461,000
+2.20%
$471K
68
47
+44.7%
AVERAGE SOLD PRICE
97%
97%
+0%
UP +2.20% from 2018
UP +4.70% from 2018
LA CE NTE R
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT 11
SW WASHINGTON OR CHA R D S
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
Q4 | 2018
CHANGE
1287
1338
-3.80%
$344,000
$331,000
+2.30%
$344K
32
27
+18.5%
AVERAGE SOLD PRICE
99%
99%
+0%
UP +2.30% from 2018
Q4 | 2019
Q4 | 2018
CHANGE
524
419
+25.1%
$495,000
$484,000
+2.30%
$495K
56
43
+30.2%
AVERAGE SOLD PRICE
98%
97%
+1%
UP +2.30% from 2018
R I DG E FI E LD
Q4 | 2019
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
12 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
SW WASHINGTON S A LM ON CR EEK
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
Q4 | 2019
Q4 | 2018
CHANGE
694
706
-1.70%
$442,000
$444,000
-0.50%
$442K
43
43
+0.00%
AVERAGE SOLD PRICE
98%
99%
-1%
Q4 | 2019
Q4 | 2018
CHANGE
909
930
-2.30%
$350,000
$336,000
+4.20%
$350K
35
31
+12.9%
AVERAGE SOLD PRICE
98%
98%
+0%
UP +4.20% from 2018
DOWN -0.50% from 2018
VANCO UV E R
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT 13
SW WASHINGTON WA S HOU GA L
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
Q4 | 2018
CHANGE
386
387
-0.30%
$436,000
$441,000
-1.10%
$436K
46
42
+9.5%
AVERAGE SOLD PRICE
97%
97%
+0%
DOWN -1.10% from 2018
Q4 | 2019
Q4 | 2018
CHANGE
162
158
+2.50%
$418,000
$390,000
+7.20%
$418K
46
47
-2.10%
AVERAGE SOLD PRICE
97%
97%
+0%
UP +7.20% from 2018
WO O DLAND
Q4 | 2019
TOTAL HOMES SOLD AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
14 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.