RMLS MARKET ACTION REPORT | MAY 2022 | SW WASHINGTON

A Publication of RMLS, The Source for Real Estate Statistics in Your Community Residential Review: Southwest Washington

May 2022 Reporting Period

Year-To-Date Summary Comparing the first five months of 2022 to the same period in 2021, new listings (4,728) decreased 0.5%, pending sales (3,944) decreased 8.7%, and closed sales (3,595) decreased 3.0%.

Residential Highlights New listings (1,169) increased 10.8% from the 1,055 listed in May 2021, and increased 23.3% from the 948 listed in April 2022.

Pending sales (872) decreased 16.1% from the 1,039 offers accepted in May 2021, and increased 8.7% from the 802 offers accepted in April 2022.

Average and Median Sale Prices Comparing 2022 to 2021 through May, the average sale price has increased 16.8% from $495,800 to $578,900. In the same comparison, the median sale price has increased 19.0% from $441,000 to $525,000.

Closed sales (792) decreased 4.8% from the 832 closings in May 2021, and decreased 1.7% from the 806 closings in April 2022.

Inventory and Total Market Time Inventory increased to 1.0 months in May. Total market time increased to 18 days.

Inventory in Months* 2020 2021 2022 January 2.4 0.8 0.6 February 2.1 0.7 0.7 March 2.1 0.5 0.5 April 2.5 0.6 0.6 May 2.3 0.6 1.0 June 1.6 0.6 July 1.2 0.7 August 1.3 0.8 September 1.0 0.8 October 0.8 0.7 November 0.8 0.6 December 0.6 0.5 *Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month.This number includes proposed and under construction homes.

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: +16.7% ($553,700 v. $474,300) Median Sale Price % Change:

Due to significant differences between the counties in Southwest Washington, the Residential Review on pages 1, 3, 4, and 5 contain Clark County data only. For data on Cowlitz County, see the Area Report on page 2, or the graphs on page 5 and page 6.

Clark County Residential Highlights

Change

2021

2022

May

New Listings

Pending Sales

Closed Sales

Average Sale Price

+17.0% ($497,200 v. $425,000)

For further explanation of this measure, see the second footnote on page 3.

Median Sale Price

Total Market Time

1,169

872

792

604,400

542,600

18

948

802

806

587,300

528,500

18

Year-To-Date

4,728

3,944

3,595

578,900

525,000

21

May

1,055

1,039

832

520,600

465,000

18

Year-To-Date

4,750

4,320

3,705

495,800

441,000

27

May

10.8%

-16.1%

-4.8%

16.1%

16.7%

0.3%

Prev Mo 2022

23.3%

8.7%

-1.7%

2.9%

2.7%

2.7%

Year-To-Date

-0.5%

-8.7%

-3.0%

16.8%

19.0%

-24.0%

April

© Copyright RMLS 2022. All Rights Reserved.

AREA REPORT • MAY 2022

SW Washington

RESIDENTIAL

COMMERCIAL

LAND

MULTIFAMILY

Year-To-Date

Year-To-Date

Year-To-Date

Average Sale Price

Closed Sales

Average Sale Price

Closed Sales

Average Sale Price

Closed Sales

2

Avg. Sale Price % Change

Total Market Time

Median Sale Price

Average Sale Price

Closed Sales

Pending Sales 2022 v. 2021

New Listings

Pending Sales

3

Total Market Time

Average Sale Price

Closed Sales

Pending Sales 2022 v. 2021

Pending Sales

Expired.Canceled Listings

New Listings

Year-To-Date

Downtown Vancouver

18

24

3

16

-50.0%

16

522,500

40

88

63

-42.7%

62

483,700

442,500

24

14.1%

-

-

8

793,100

17

36

2

33

26.9%

24

388,900

6

128

114

23.9%

82

380,800

373,000

16

18.2%

-

-

1

295,000

16

610,100

18

20

2

11

37.5%

7

714,800

10

61

45

-35.7%

38

591,800

453,500

15

6.5%

-

-

1

100,000

1

452,000

4

23

2

24

41.2%

32

437,100

9

107

111

79.0%

95

478,500

456,000

17

17.2%

-

-

2

1,032,500

32

59

8

39

-26.4%

39

511,400

11

230

183

-9.0%

163

473,400

480,000

13

14.8%

-

-

12

34

1

29

20.8%

15

474,100

7

107

95

-8.7%

87

449,300

452,000

10

10.7%

1

48,000

-

-

3

540,000

19

43

1

39

8.3%

34

441,300

6

200

188

9.9%

200

436,500

422,000

12

16.0%

1

105,000

-

-

2

750,000

43

90

2

72

-30.8%

85

488,000

9

454

413

-10.8%

369

456,200

445,000

13

16.9%

1

300,000

695,300

14

27

2

22

57.1%

23

596,300

9

100

83

18.6%

68

614,500

549,000

14

18.8%

-

-

21

28

0

30

7.1%

20

556,900

7

141

114

6.5%

93

571,300

528,000

10

12.6%

-

-

-

-

12 13

SW Heights

14

Lincoln/Hazel Dell

15

E Hazel Dell

20

NE Heights

21

Orchards

22

Evergreen

23

E Heights

24

Cascade Park

25

Five Corners

26

E Orchards

27

Fisher's Landing

31

SE County

2

4

0

7

250.0%

6

929,100

97

19

17

54.5%

14

1,117,700

956,500

55

53.5%

-

-

3

444,700

32

Camas City

69

102

11

69

-15.9%

61

931,400

21

351

278

-17.0%

257

834,600

752,000

25

22.5%

-

-

9

470,000

33

Washougal

51

61

3

42

-22.2%

40

717,700

56

226

176

5.4%

163

706,700

650,000

35

21.5%

25

445,800

41

N Hazel Dell

14

46

1

48

29.7%

28

605,900

9

159

140

10.2%

114

547,900

525,000

14

13.6%

1

115,000

42

S Salmon Creek

25

46

12

29

-27.5%

29

505,600

10

214

141

-14.5%

127

504,400

499,900

15

15.2%

2

425,000

43

N Felida

32

43

2

27

-28.9%

28

704,700

13

166

134

-6.9%

112

640,400

596,800

13

17.0%

-

-

3

445,000

-

-

44

N Salmon Creek

32

47

1

34

-26.1%

26

606,800

17

187

147

-14.5%

129

588,300

575,000

20

18.6%

-

-

2 32,560,000

-

-

50

Ridgefield

51

72

13

47

-23.0%

53

643,500

30

287

242

-33.5%

279

632,700

598,400

26

21.7%

6

569,200

-

-

51

W of I-5 County

24

12

5

2

-84.6%

2

1,125,000

4

52

16

-36.0%

13

970,800

859,000

10

39.9%

-

-

5

410,000

-

-

52

NW E of I-5 County

21

20

3

10

-41.2%

7

665,100

13

65

45

-57.1%

47

784,100

699,000

61

0.2%

-

-

3

460,000

-

61

Battleground

75

75

4

55

-20.3%

44

601,900

28

330

304

20.6%

284

573,900

536,400

31

22.9%

6

238,500

62

Brush Prairie

81

104

11

82

-15.5%

93

676,200

18

450

411

-4.9%

373

620,800

576,800

18

12.3%

-

-

5

505,800

63

East County

2

2

0

0

-100.0%

1

851,000

4

4

4

100.0%

4

812,800

838,000

42

72.4%

-

-

64

Central County

5

4

0

-100.0%

2

1,175,000

14

18

11

-47.6%

13

787,700

757,000

11

18.4%

-

-

5

65

Mid-Central County

3

11

0

11

37.5%

2

950,000

3

25

22

0.0%

13

911,500

865,000

51

26.3%

-

-

66

Yacolt

10

14

0

11

37.5%

5

547,000

43

47

42

5.0%

37

586,300

468,000

43

9.0%

-

70

La Center

11

11

2

11

-8.3%

16

561,100

18

50

45

-22.4%

49

573,900

579,200

20

20.1%

71

N Central

3

5

1

3

-40.0%

1

677,000

10

21

20

5.3%

19

531,500

540,000

27

17.6%

72

-

NE Corner

5

4

0

1

-66.7%

1

175,000

49

8

3

-57.1%

3

700,000

725,000

19

4.7%

774

1,169

107

872

-16.1%

792

604,400

18

4,728

3,944

-8.7%

3,595

578,900

525,000

21

16.7%

80

-

NW Heights

Woodland City

11

14

1

8

-11.1%

9

564,200

11

54

41

-8.9%

37

507,700

487,000

16

34.0%

82 81

11

Active Listings

Current Month

Woodland Area

11

8

0

6

-25.0%

2

893,000

152

44

23

18.8%

23

687,900

630,000

32

17.0%

Cowlitz County

134

149

11

108

1.9%

96

430,100

22

606

498

16.4%

433

418,500

383,000

28

15.1%

1

Cowlitz County Total

156

171

12

122

-0.8%

107

450,000

24

704

562

11.1%

493

437,800

400,000

27

17.0%

Pacific County Total

33

17

3

13

-27.8%

14

360,100

11

99

72

-27.3%

72

367,400

352,000

32

20.5%

87

Clark County Total

-

3

185,200

175,000

6

2

477,500

1

520,000

5

1,179,200

1

530,000

7

13

0

13

-40.9%

15

496,200

5

94

92

2.2%

88

469,700

460,000

8

16.6%

-

-

-

-

54

14

26

-46.9%

22

525,900

32

220

147

-30.3%

120

574,200

551,000

43

14.0%

-

-

-

-

19

35

1

29

11.5%

15

552,400

10

119

98

-3.0%

80

594,500

562,800

8

24.1%

-

-

1

-

2

© Copyright RMLS 2022. All Rights Reserved.

1

950,000 -

2

1

2

425,000

150,000

1,047,600

-

1

34

-

-

-

450,000

-

-

-

632,800

1

699,000

2

614,500

-

-

2

569,500

3

633,300 -

359,800

-

-

4

542,500

-

-

-

2

195,000

-

-

-

-

1

100,000

-

-

-

-

3

250,500

-

-

-

499,800

2

610,000

-

5

-

9

-

-

-

94

1,092,300

-

58

706,800

1

379,000

2

1,071,000

11

283,000

100,000

79

190,900

20

455,700

3

440,000

92

221,000

21

452,000

1

400,000

39

107,600

-

-

-

-

-

-

ACTIVE RESIDENTIAL LISTINGS

Active Residential Listings 1,400

CLARK COUNTY, WA

1,200

This graph shows

1,000

the active residential listings over the past

800

three calendar years

600

in Clark County,

400

Washington.

200

JAN FEB MAR APR MAY JUN JUL AUG 2020 1,154 1,100 1,302 1,334 1,304 1,149 1,161 1,038 2021 458 401 361 486 471 564 706 728 2022 345 389 424 510 774

NEW LISTINGS

SEP 893 761

OCT 807 664

NOV 633 522

DEC 507 391

New Listings

CLARK COUNTY, WA

This graph shows the

1400

new residential listings

1200

over the past three

1000

calendar years in Clark

800

County, Washington.

600 400 200

2020

1

2021

2022

Percent change in number of pending sales this year compared to last year. The Current Month section compares May 2022 with May 2021. The Year-To-Date section compares 2022 Year-To-Date statistics through May with 2021 Year-To-Date statistics through May.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (6/1/21-5/31/22) with 12 months before (6/1/20-5/31/21).

3

Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.

3

© Copyright RMLS 2022. All Rights Reserved.w

PENDING LISTINGS

Pending Sales

CLARK COUNTY, WA

This graph represents

1200 1100

monthly accepted

1000 900

offers in Clark County,

800

Washington over the past

700 600

three calendar years.

500 400 300

2020

2021

2022

CLOSED SALES

Closed Sales

CLARK COUNTY, WA 1,000

This graph shows the

900

closed sales over the past

800

five calendar years in Clark County, Washington.

700 600

2018

500

2019

400

2020 2021

300

2022

200 100 0

DAYS ON MARKET

Average Total Market Time

CLARK COUNTY, WA

100

This graph shows the

90 80

average market time for

70

sales in Clark County,

60 50

Washington over the past

40 30

three calendar years.

20 10

2020 TMT

2021 TMT

2022 TMT

4

© Copyright RMLS 2022. All Rights Reserved.

This graph represents the average and median sale price for all homes sold in

SALE PRICE

Clark County, Washington.

CLARK COUNTY, WA

Average and Median Sale Price 650,000 600,000 550,000 500,000 450,000 400,000 350,000 300,000 250,000

Average Sale Price

Median Sale Price

New Listings

NEW LISTINGS COWLITZ COUNTY, WA

This graph represents new listings in Cowlitz County,

180 160 140 120 100

80

Washington over the past

60

three calendar years.

40 20

2020

2021

© Copyright RMLS 2022. All Rights Reserved.

2022

May-22

Nov-21

May-21

Nov-20

May-20

Nov-19

May-19

Nov-18

May-18

Nov-17

May-17

Nov-16

May-16

Nov-15

May-15

Nov-14

May-14

Nov-13

May-13

Nov-12

150,000

May-12

200,000

PENDING LISTINGS

Pending Sales

COWLITZ COUNTY, WA

170

This graph represents monthly

150 130

accepted offers over the past

110

three calendar years in Cowlitz

90

County, Washington.

70 50

2020

2021

2022

CLOSED SALES

Closed Sales

COWLITZ COUNTY, WA

160 140

This graph shows the closed

120

sales over the past five 2018

100

calendar years in Cowlitz

2019

80

2020

County, Washington.

2021

60

2022

40 20

OCT

NOV

Average Sale Price $500,000 $450,000

This graph represents the

$400,000

monthly average sale price

$350,000

$250,000 $200,000

6

© Copyright RMLS 2022. All Rights Reserved.

May-22

Feb-22

Nov-21

Aug-21

Feb-21

May-21

Nov-20

Aug-20

$100,000

Feb-20

$150,000

May-20

County, Washington.

$300,000

Nov-19

for all homes sold in Cowlitz

DEC

Aug-19

COWLITZ COUNTY, WA

SEP

May-19

AVERAGE SALE PRICE

AUG

Feb-19

JUL

Nov-18

JUN

Aug-18

MAY

Feb-18

APR

May-18

MAR

Nov-17

FEB

Aug-17

JAN

May-17

0

Contact RMLS 16101 SW 72nd Ave. Suite 200 Portland, OR 97224 503.236.7657

MEDIAN SALE PRICE May 2022 SW WASHINGTON

communications@rmls.com

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS. Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, Mid-Columbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Josephine County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County.

PORTLAND METRO

Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS.

$426,000 N/NE Clark County

$585,000 $615,700

Battle Ground

Ridgefield/La Center $453,800 Columbia County $625,000 Salmon Creek

$620,000 Brush Prairie Hockinson

$575,500 Felida

$500,500 Hazel $453,500 5 Corners Dell Minnehaha Orch.

$785,000 North Washington County

$402,500 Cent. Vancouver

Sauvie Island

$563,000 Hillsboro Forest Grove

$555,000

$684,500 West Portland

Beaverton Aloha

$650,000 Tigard/Tualatin Sherwood Wilsonville

$750,000 Camas/Washougal $575,000 NE Portland $560,000 SE Portland $568,500

$880,000

$480,000 Cascade Park

$547,500 Heights

$534,500 N Portland

$454,000

RMLS was formed by area Boards and Associations of REALTORS® in 1991.

$615,000 Woodland

Milwaukie/Gladstone/ Boring/Clackamas Estacada

$510,000 Gresham Troutdale Sandy Corbett Fairview

Lake Oswego West Linn $615,000 Oregon City Canby Molalla Beavercreek

Yamhill County

Dale Chumbley, Chairman of the Board Kurt von Wasmuth, President/CEO Jorden Holland, Co-Editor

© Copyright RMLS 2022. All Rights Reserved.

$664,500 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp

MARKET ACTION ADDITION Some regions have a higher proportion of active residential listings that are not yet under construction (designated as “Proposed”), meaning there are fewer “Active” homes that are ready for an immediate move in.

RMLS is now offering additional statistics that delve more deeply into the inventory counts for the Portland Metro and SW Washington sections of the monthly Market Action report. These statistics are presented as insert pages at the end of each region’s section.

The following summary shows the number of homes available for immediate purchase and occupancy.

Clark County, Washington Market Action Addition: May 2022 Total Active Listings* Reported in Market Action:

774

Less Listings with Purchase Contingencies*:

29 745

Readily Purchased Listings: Percent of Total Active Listings:

96.3%

Less New Under Construction (not ready for occupancy):

93

Less New Proposed (not started):

74

Total Readily Purchased & Occupied Listing: Percent of Total Active Listings: Inventory in Months of Readily Purchased & Occupied Listings:

578 74.7% 0.7

* Active Listings reported in Market Action include three statuses (ACT, BMP, SSP). Two of these statuses are defined as listings with accepted offers that are still marketed as active listings due to the type of offer on the property. These are Bumpable Buyer, which is an offer that is contingent on the sale of the buyer’s current home, and Short Sale Pending, where an offer has been accepted by the seller but the required third party approvals have not been obtained.

© Copyright RMLS 2022. All Rights Reserved.