PUGET SOUND 2021 Q3 MARKET REPORT
Helping people buy and sell homes in the Pacific Northwest since 1972, Coldwell Banker Bain is an undisputed market leader, posting nearly $6 billion in sales in 2020. With 34 offices and more than 1,300 brokers in Washington and Oregon, plus a global reach that extends to 92,000 brokers in 43 countries, we’re not only one of the largest Coldwell Banker affiliates in the world, we’re also the most accomplished real estate company in the Northwest. Our commitment to knowledge, expertise and market insights consistently undergirds our reputation for excellence and service. An emphasis on global access in the luxury realm, combined with the power, reach and recognition of the Coldwell Banker brand, allows us to outsell and outperform our rivals, as we elevate the standard for marketing premier properties in the Puget Sound area and the Pacific Northwest. As important to us as business success— we also provide services in property management, commercial real estate, real estate investment and relocation management— is the understanding that real estate is more than just a transaction; it’s a key part of building safe, happy and prosperous lives for our clients, our brokers and their families.
JOHN DEELY executive VP of Operations Reflecting on the third-quarter numbers, John Deely, Coldwell Banker Bain Executive Vice President of Operations, said, “The third quarter was really amazing related to price appreciations, very limited inventory and time on market, but as outlined by our Coldwell Banker Bain brokers below, we are seeing a bit of change - and not just in the weather. Reports of buyer fatigue, resulting from multiple offer situations that further drove up prices, seem to have impacted activity a bit, which finally provides a positive bit of news for them. With legislation in the queue on the national front that could cause an increase to capital gains rates, many sellers who have been on the fence about selling are now concerned they could lose profit in their homes to taxes if they wait until next year. Coupled with the annual trend of the market slowing as we move into the holiday season, we believe this is a great opportunity for those buyers to return to the market. Prices are now leveling out a bit, and homeowners who are selling in the last quarter of the year always tend to be highly motivated. Buyers will also find less competition this time of year, due to inclement weather and holiday travel.”
2021 Q3 PUGET SOUND COUNTIES MARKET REPORT
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Q3 2021 MARKET REPORT
LANA THOMPSON Principal Managing Broker of ANACORTES Lana Thompson, Principal Managing Broker of Coldwell Banker Bain of Anacortes, said, “A good indicator of our lack of inventory in Anacortes, (down 33%) is reflected in the number of homes sold in the third quarter of this year vs. last year—99 vs. 135, a decline of nearly 27%. This shortage, buyer demand, and a lightning-fast market are further demonstrated in the DOM, which is down by 40.5% to just 22 days. Although we are still singing the sad lack of inventory song, the good news is our median sales price has held steady at $620,000. Skagit County as a whole has seen a rise in the median sold price of just over 15.5% to $503,000. Interestingly, the inventory numbers have held steady even though DOM is down by just over 55%. Waterfront properties are still in high demand, but inventory has inched up 16.7%. The median sold price is $700,000. Statistics aside, sellers are still enjoying this fast-paced market as there is still a long list of buyers searching for a home. Prices appear to be leveling, and we are starting to see a few price reductions, which is good news for market-weary buyers.
4 2021 Q3 PUGET SOUND COUNTIES MARKET REPORT
puget sound
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
KING | ISLAND | KITSAP | PIERCE | SKAGIT | SNOHOMISH | THURSTON | WHATCOM
MEDIAN SOLD PRICE (NEAREST $000)
AVERAGE DOM
King
$850K
Island
15 12
$541K
Kitsap
$503K
13
Pierce
$510K
13
Skagit
$503K
17
Snohomish
10
$680K
Thurston
12
$465K
Whatcom
18
$552K $100K
$200K
$300K
$400K
$500K
$600K
$700K
$800K
NUMBER OF SALES CLOSED 10K 8K 6K
9,021
4K
1,546
2K
522
4,908
573
4,001
1,881
1,042
0
King
Island
Kitsap
Pierce
Skagit
Snohomish
Thurston
Whatcom
INVENTORY IN UNITS / 09.30.21
1593
124
313
1,006
202
652
325
321
-35.2%
+0.0%
+0.3%
+14.8%
+1.5%
+0.9%
+41.3%
-5.9%
King
Island
Kitsap
Pierce
Skagit
Snohomish
Thurston
Whatcom
2021 Q3 PUGET SOUND COUNTIES MARKET REPORT
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puget sound area KING
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
9,021
8,748
+3.1%
MEDIAN SOLD PRICE
$850K
$743K
+14.4%
12
20
-40.0%
105%
100%
+5.0%
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
550
560
-1.8%
MEDIAN SOLD PRICE
$541K
$482K
+12.2%
15
34
-55.9%
103%
99%
+4.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$850K
MEDIAN SOLD PRICE UP +14.4% from 2020
ISLAND
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
6 2021 Q3 PUGET SOUND COUNTIES MARKET REPORT
$541K
MEDIAN SOLD PRICE UP +12.2% from 2020
KITSAP
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
1,546
1,456
+6.2%
MEDIAN SOLD PRICE
$503K
$430K
+17.0%
13
23
-43.5%
104%
100%
+4.0%
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
4,908
4,574
+7.3%
MEDIAN SOLD PRICE
$510K
$430K
+18.6%
13
24
-45.8%
103%
101%
+2.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$503K
MEDIAN SOLD PRICE UP +17.0% from 2020
PIERCE
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$510K
MEDIAN SOLD PRICE UP +18.6% from 2020
2021 Q3 PUGET SOUND COUNTIES MARKET REPORT
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puget sound area SKAGIT
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
573
662
-13.4%
MEDIAN SOLD PRICE
$503K
$435K
+15.6%
17
38
-55.3%
100%
99%
+1.0%
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
4,001
3,754
+6.6%
MEDIAN SOLD PRICE
$680K
$560K
+21.4%
10
21
-52.4%
105%
101%
+4.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$503K
MEDIAN SOLD PRICE UP +15.6% from 2020
SNOHOMISH
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
8 2021 Q3 PUGET SOUND COUNTIES MARKET REPORT
$680K MEDIAN SOLD PRICE UP +21.4% from 2020
THURSTON
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
1,881
1,663
+13.1%
MEDIAN SOLD PRICE
$465K
$390K
+19.2%
12
19
-36.8%
103%
101%
+2.0%
Q3 2021
Q3 2020
CHANGE
TOTAL HOMES SOLD
1,042
1,064
-2.1%
MEDIAN SOLD PRICE
$552K
$449K
+22.9%
18
36
-50.0%
102%
99%
+3.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$465K
MEDIAN SOLD PRICE UP +19.2% from 2020
WHATCOM
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$552K
MEDIAN SOLD PRICE UP +22.9% from 2020
2021 Q3 PUGET SOUND COUNTIES MARKET REPORT
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ANATOLIY RUBASHKA REAL Estate Broker Coldwell Banker Bain | MarysVille 1059 State Ave, Ste. C-1 | Marysville, WA 98270 Cell: 425.750.2891 AnatoliyRubashka@cbbain.com | AnatoliyRubashka.cbbain.com
*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.