Coldwell Banker Bain Q2 2019 NW Market Report

Q2 2019 P

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MARKET REPORT PUGET

SOUND

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SOUTHWEST

WASHINGTON

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OREGON

Helping people buy and sell homes in the Pacific Northwest since 1972, Coldwell Banker Bain is an undisputed market leader, posting nearly $6.4 billion in sales in 2018. With 32 offices and more than 1,100 brokers in Washington and Oregon, plus a global reach that extends to 92,000 brokers in 44 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 are 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.

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

Q2 2019

PACIFIC NORTHWEST

MARKET REPORT

PACIFIC NORTHWEST MARKET REPORT FOR PUGET SOUND REGION

B

ELLEVUE, WA (July 1, 2019) – Coldwell Banker Bain, a leading provider of real estate brokerage services throughout

Washington and Oregon, and a market leader in home sales in 2018,* releases its second-quarter market report providing a variety of statistics for the sale of homes in neighborhoods and counties throughout the Puget Sound region, as well as for other segments, including luxury and condos. The second-quarter report reflects activity between April 1–June 30, 2019.** Reflecting on the second-quarter numbers and feedback from brokers, Mike Grady, Coldwell Banker Bain president and COO, said, “Clearly we now see that the market is ‘moderating’—that is, we’re definitely moving from a ‘hyper-market’ to one where a correction is underway compared to last year. However, while it’s the best time to buy that we’ve seen in some time given increased inventory and low interest rates, because we continue to have only an average of 1.5 months of inventory, it is STILL a seller’s market. So buyers are getting some relief, but they will still have to deal with multiple offer situations, consider inspection waivers, etc., in order to have their offers be competitive. They are also being forced to consider markets outside of King County for affordability — this is showcased especially in Pierce County which is performing at an amazing pace.”

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

03

EASTSIDE AREA

J

ennifer Cameron Vice President of Global Luxury and Principal Managing Broker of Coldwell Banker Bain of Lincoln Square, said, “Inventory is up across all of the Eastside areas and one major influence is the backlog of new development that buyers had been waiting for. Another is that we are seeing more seniors and retired couples wanting to downsize into a condo and/or that second home outside of the city.

Median priced condos had the largest gain in inventory this quarter, up 60% over a year ago with 872 homes closing with an average market time of only 34 days. This is good news for those techies relocating both for Amazon’s new headquarters and Apple’s planned 43-story tower in downtown Bellevue. Luxury condo inventory, on the other hand, showed a mere 14.7% growth

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

over last year with a market time nearly double the median price at 66 days. There are several luxury condos on the horizon which it appears will hit the market at the right time.

Interesting growth and inventory patterns exist on the Eastside perimeters where Woodinville and Redmond experienced the highest surge in inventory year over year, both over 30%, yet with current inventory much lower than in Bellevue and Kirkland, respectively. Buyers continue to look for more affordability outside of the city core. Specific to the Eastside luxury market, waterfront home inventory was up 9.% year-over-year with just 83 current homes available on the market. Many of these properties were first generation legacy properties impressively transacting for the first time or in years.”

EASTSIDE AREA Bellevue | Bothell | Duvall - Carnation | Kirkland | Issaquah - Sammamish | Mercer Island Redmond | Woodinville

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

Eastside Area

$1,064,000

32

Bellevue

$1,335,000

33

Bothell

$704,000

25

Duvall - Carnation

$659,000

39

Kirkland

$1,162,000

30

Issaquah - Sammamish

$1,050,000

Mercer Island

$2,137,000

37 56

Redmond

$1,064,000

26

Woodinville

$941,000

32

Area Condos

$569,000

34

Area Waterfront (SF Only)

$2,175,000

Area Luxury ($2+M | SF+C)

$2,897,000

57 66

$0K

$500K

$1000K

$1500K

$2000K

$2500K

$3000K

NUMBER OF SALES CLOSED 1000 800

2502

872

Total Eastside Sales Closed

600 400 200

407

544

493 115

339

103

311

Mercer Island

Redmond

0 Bellevue

Bothell

Duvall, Carnation

Kirkland

Issaquah, Sammamish

76

190 Woodinville

Area Condos

Area Waterfront

160 Area Luxury ($2+M / SF+C)

(SF Only)

INVENTORY IN UNITS - 07/01/2019 Total Eastside Inventory

1672

+26.9%

% of change from 2018

289

321

71

226

374

94

169

128

449

83

258

+25.1%

+27.9%

-1.4%

+32.2%

+26.4%

+25.3%

+31.0%

+39.1%

+60.4%

+9.2%

+14.7%

Bellevue

Bothell

Duvall, Carnation

Kirkland

Issaquah, Sammamish

Mercer Island

Redmond

Woodinville

Area Condos

Area Waterfront

($2+M / SF+C)

Area Luxury

(SF Only)

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

05

SEATTLE AREA

J

ohn Deely, Principal Managing Broker for Coldwell Banker Bain’s Lake Union, Magnolia, and Madison Park offices, said, “The second quarter Seattle residential market for the selected areas was robust, reflecting the increase in listing inventory, strong buyer demand and continued low interest rates. Closed sales totaled over $1.5 billion.

All Seattle areas and property types had an increase in inventory when compared to last quarter and the same time last year. Most Seattle zip codes are recording an increase in market time because of the increased inventory and buyers considering more

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

available options in their selection process.

Most notable was the rapid increase in condominium inventory. Both pending sales and sold properties have also increased and are keeping pace with new listings to keep the buildup of listing inventory slow and in-check. A balanced market is considered four to six months of listing inventory and the Seattle market is still considered a seller’s’ market, hovering around two months of inventory. The Seattle Luxury market ($2.5M+) had a 35%+ increase in listings with an average market time of 52 days.

There was a total of 76 closings in the luxury market during the second quarter.”

S E AT T L E A R E A Ballard - Green Lake | Capitol Hill | Madison Park | Magnolia | NE Seattle | Seattle Central South Lake Union - Queen Anne | West Seattle

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

$892,000

23 21

Capitol Hill

$1,209,000

55

Madison Park

$1,413,000

Magnolia

$1,129,000

33 24

Seattle Area

$1,002,000

Ballard - Green Lake

$1,259,000

18 26 22

West Seattle

$892,000

24

Area Condos

$537,000

34

Area Waterfront (SF Only)

$1,822,000

Area Luxury ($2+M | SF+C)

$2,579,000

64 52

NE Seattle

$981,000

Seattle Central

$958,000

South Lake Union Queen Anne

$0K

$500K

$1000K

$1500K

$2000K

$2500K

$3000K

NUMBER OF SALES CLOSED 600 500 400

1550

514

484

300

341

200

47

100 0

Total Seattle Sales Closed

Ballard, Green Lake

Capitol Hill

205 81

112

Madison Park

Magnolia

NE Seattle

Seattle Central

118

132

S. Lake Union, Queen Anne

West Seattle

24 Area Condos

Area Waterfront

76 Area Luxury ($2+M / SF+C)

(SF Only)

INVENTORY IN UNITS - 07/01/2019 Total Seattle Area Inventory

947

+71.9%

% of change from 2018

222

46

61

85

223

163

93

54

405

47

123

+69.5%

+58.6%

+32.6%

+97.7%

+85.8%

+81.1%

+81.1%

+58.8%

+135.5%

+11.9%

+35.2%

Ballard, Green Lake

Capitol Hill

Madison Park

Magnolia

NE Seattle

Seattle Central

S. Lake Union, Queen Anne

West Seattle

Area Condos

Area Waterfront

($2+M / SF+C)

Area Luxury

(SF Only)

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

07

SOUTH SOUND AREA

S

tephanie Callen, broker in CB Bain’s Puyallup office, said, “The secret is out in Pierce County! Tacoma’s sales prices are up 6% from last year, inventory is still down 14.7% and the average sale price is now $416,000. This is significantly lower than our neighbors in King County, but worth the commute when you can spend half the amount and get twice the house. With home prices increasing and interest rates holding steady, it is hard for buyers to get their offers accepted in this market. They need to be prepared and fully underwritten if possible.

Selling a home is still a cakewalk, however buyers do want the inspection work done.

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

Silverdale is another hot market in the area with 20 days on the market and low inventory. Puyallup and Graham have extremely low inventory -– nearly 20% less than last year at this time. Gig Harbor’s average sold price is $587,000, although things are taking a bit longer to sell with the average time on market at 53 days.

Moving forward, Pierce County expects the market to remain very active, prices stabilizing and more buyers arriving from King County.”

SOUTH SOUND AREA Gig Harbor - Key Peninsula | North Tacoma - Lakewood - University Place | Puyallup - Graham SE King County | SW King County | Bainbridge Island | Silverdale

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

South Sound & Kitsap Areas

$492,000

30

Gig Harbor - Key Peninsula

$587,000

53

North Tacoma - Lakewood University Place

$416,000

22

Puyallup - Graham

$389,000

28

SE King County

$520,000

31

SW King County

$501,000

32

Bainbridge Island

$1,111,000

33

Silverdale

$428,000

20

Area Condos

$301,000

24

$822,000

65

$1,358,000

62

Area Waterfront (SF Only) Area Luxury ($1+M | SF+C)

$0K

$300K

$600K

$900K

$1200K

$1500K

NUMBER OF SALES CLOSED 2000

2582

1500

Total South Sound Sales Closed

1660

1000

0

1020

853

500

1014

400 Gig Harbor Key Peninsula

N. Tacoma University Place Lakewood

Puyallup Graham

SE King County

SW King County

851 133

75

Bainbridge Island

Silverdale

Area Condos

257 Area Waterfront

206 Area Luxury ($1+M / SF+C)

(SF Only)

INVENTORY IN UNITS - 07/01/2019 Total South Sound Inventory

2582

-6.8%

% of change from 2018

314

297

434

902

493

110

32

315

310

353

-7.9%

-14.7%

-19.3%

+1.6%

-6.8%

+19.6%

-8.6%

+9.0%

-1.9%

+12.4%

Gig Harbor Key Peninsula

N. Tacoma University Place Lakewood

Puyallup Graham

SE King County

SW King County

Bainbridge Island

Silverdale

Area Condos

Area Waterfront

($1+M / SF+C)

Area Luxury

(SF Only)

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

09

NORTH SOUND AREA

M

ichelle Van Tassell, Principal Managing Broker for Coldwell Banker Bain of Edmonds and Lynnwood offices, noted, “With the second 2nd quarter comes the annual expectation in the Pacific Northwest that the housing market will be brisk. This has been the case in Snohomish County, where days on market figures remain under a month’s time in all areas, and inventory is up only slightly overall, at 15% over last year. For consumers following absorption rates in their decisionmaking process, this translates to about 1.6 months of inventory, reflecting a strong seller’s market but providing a bit more breathing room for buyers to make decisions and negotiate terms.

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

Specific city markets showed a mixed picture, however, with Everett experiencing a tightening of inventory, and neighboring Marysville offering the highest numbers of new listings, an 18.6% increase over 2018.

Edmonds’ inventory numbers followed closely at an increase of 18.3% over last year, despite the highest average price point in the county of $729,000. Buyers eying the condo market have found plenty to choose from, with a 45% increase in inventory compared to last year. Predictably, the Snohomish County luxury market (priced at $1 million and up) relative to King County reflected less availability and a high demand for what existed, and the waterfront market produced sales of a good mix of living/second home options…riverfront, lake-front, and salt water.”

NORTH SOUND AREA Bellingham | Edmonds | Everett | Lynnwood (Snohomish, Skagit, Whatcom)

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

North Sound Area

$524,000

27

Anacortes

$550,000

70

Bellingham

$506,000

31

Edmonds

$729,000

21

Everett

$473,000

19

Lynnwood

$580,000

25

Marysville

$414,000

18

3-County Area Condos

$365,000

26

3-County Area Waterfront (SF Only)

$820,000

65

$1,386,000

84

3-County Area Luxury ($1+M | SF+C)

$0K

$300K

$600K

$900K

$1200K

$1500K

NUMBER OF SALES CLOSED 300 250

527

200

210

150 100

185

131

162

129

970 Total North Sound Sales Closed

256

153

50

62

0 Anacortes

Bellingham

Edmonds

Everett

Lynnwood

Marysville

3-County Area Condos

99

3-County Area Waterfront

3-County Area Luxury

(SF Only)

($1+M | SF+C)

INVENTORY IN UNITS - 07/01/2019 Total North Sound Inventory

970

+2.8%

% of change from 2018

131

210

129

185

162

153

256

62

99

-0.8%

-7.9%

+18.3%

-4.6%

+6.6%

+18.6%

+45.5%

-19.5%

-3.9%

Anacortes

Bellingham

Edmonds

Everett

Lynnwood

Marysville

3-County Area Condos

3-County Area Waterfront

3-County Area Luxury

(SF Only)

($1+M | SF+C)

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

11

PUGET SOUND AREA COUNTIES

D

ean Ulrich, Principal Managing Broker of Coldwell Banker Bain of Bellingham, “We had another robust quarter in Bellingham, with 409 closed sales, an average sale price of $506,000, and just an average of 31 days on the market. Inventory is tight, down 7.9% from

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

the same quarter in 2018. Low interest rates and strong employment, combined with Bellingham average price being significantly lower than Seattle/Bellevue, have fueled additional appreciation and the continuation of a strong sellers’ market, particularly in the popular neighborhoods.”

PUGET SOUND AREA COUNTIES Island | King | Kitsap | Pierce | Skagit | Snohomish | Whatcom

SINGLE FAMILY (SF), CONDO

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

Island

$458,000

43

King

$845,000

30

Kitsap

$472,000

32

Pierce

$410,000

28

Skagit

$429,000

50

Snohomish

$546,000

27

Whatcom

$448,000

41

$0K

$200K

$400K

$600K

$800K

$1000K

NUMBER OF SALES CLOSED 8000 7000 6000

7793

5000 4000

4203

3000 2000 1000 0

512 Island

588

1247 King

Kitsap

3272

920

Pierce

Skagit

Snohomish

Whatcom

INVENTORY IN UNITS - 07/01/2019 361

4764

622

1961

455

1819

662

+8.4%

+26.4%

+5.2%

-7.6%

+5.3%

+15.4%

+6.9%

Island

King

Kitsap

Pierce

Skagit

Snohomish

Whatcom

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

13

WATERFRONT PROPERTIES

C

hris Murphy, a broker in Coldwell Banker Bain of Tacoma Proctor, and author of washingtonwaterfronts.com, said, “The seasonal spring inventory influx for 2019, across the seven counties included in this report, had a median inventory growth of 7.37%. This illustrates that waterfront inventory is slightly higher than in the second quarter of 2018 but remains noticeably lower in most counties relative to the second quarter of 2017 and 2016. On either end of the inventory spectrum, Kitsap County had the greatest increase of inventory with 53.62% and Pierce County had the largest inventory reduction of -25% compared to the second quarter of 2018.

The quarterly median number of waterfront properties shows a slight reduction of -2.39%, with April and May posting much larger reductions that were leveled out by a significant increase in waterfront sales in June. King County posted the greatest

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

increase of waterfront sales with 13.04%, which is consistent with its quarterly increase in inventory of 26.54%. Despite its massive influx of inventory, Kitsap County posted a -26.67% quarter decrease in in sales.

The median price at which waterfront properties have sold increased slightly by 5.06%, with Skagit County having the greatest largest quarterly median price increase of 16.74% and Whatcom County as with the greatest largest reduction of in quarterly median sale price of -9.73%.

All three of these categories illustrate the sentiment we are experiencing most frequently in representing waterfront home buyers. Buyers have funds available to affect quick cash closings, however they are being more selective despite the increase in available options from which they can choose.�

W A S H I N G T O N W AT E R F R O N T Island | King | Kitsap | Pierce | Skagit | Snohomish | Whatcom

SINGLE FAMILY (SF), CONDO

AVERAGE SOLD PRICE (Nearest $000) Island King

$782,000 $1,200,000

Kitsap

$765,000

Pierce

$750,000

Skagit

$640,000

Snohomish

$579,000

Whatcom

$450,450 $0K

$200K

$400K

$600K

$800K

$1000K

$1200K

NUMBER OF SALES CLOSED 200 150

155 100 50

61

56 0

Island

King

Kitsap

76 Pierce

34 Skagit

71 Snohomish

48 Whatcom

QUARTERLY INVENTORY IN UNITS - 2019 % of change from Q2 2018

219

597

284

298

143

205

215

+8.93%

+26.54%

+18.97%

-25.0%

-24.24%

-6.49%

+8.96%

Island

King

Kitsap

Pierce

Skagit

Snohomish

Whatcom

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

15

SOUTHWEST WASHINGTON

D

avid Knode, Principal Managing Broker for Coldwell Banker Bain of Vancouver, said, “Well, summer is here… maybe not weather-wise, but definitely in real estate.

As is usual, the market softens a bit following school vacations. But with interest rates being incredibly favorable and inventory being up, giving buyers many more options from which to choose, you’d expect that

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Q 2 | 2019 PA C I F I C N O RT H W E ST M A RK E T RE P ORT

prices would also soften. However, they are continuing to rise – although admittedly not at the fevered pace of last summer. It appears that we may be experiencing a plateau of sorts; houses are being listed and sold but with a bit longer time on the market. The price the seller and their broker sets is extremely important, and if they’re on the same page, the transaction will close much more quickly.”

SOUTHWEST WASHINGTON East Clark County | North Clark County | West Clark County

SINGLE FAMILY (SF), CONDO

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

East Clark County

$427,000

37

North Clark County

$434,000

48

West Clark County

$399,000

38

Clark County Condos

$299,000

34

Clark County Luxury ($1+M | SF + Condo)

141

$1,321,000 $0K

$300K

$600K

$900K

$1200K

$1500K

NUMBER OF SALES CLOSED 1200 1000 800

1068

600 400

424

200

548

159 15

0

East Clark County

North Clark County

West Clark County

Clark County Condos

Clark County Luxury ($1+M | SF + Condo)

INVENTORY IN UNITS - 07/01/2019 868

414

402

120

91

+16..4%

+19.3%

+3.6%

+41.2%

+12.3%

East Clark County

North Clark County

West Clark County

Clark County Condos

Clark County Luxury ($1+M | SF + Condo)

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

17

SOUTHWEST WASHINGTON COUNTIES Clark County | Cowlitz County

SINGLE FAMILY (SF), CONDO

AVERAGE SOLD PRICE (Nearest $000) AVERAGE DOM

Clark County

$422,000

39

Cowlitz County

$310,000

39

$0K

$100K

$200K

$300K

$400K

$500K

NUMBER OF SALES CLOSED 2000 1500 1000

1997

500

243

0

Clark County

Cowlitz County

INVENTORY IN UNITS - 07/01/2019

18

1639

174

+13.6%

-5.4%

Clark County

Cowlitz County

Q 2 | 2019 PA C I F I C N O RT H W E S T M A RKE T RE P O RT

PORTLAND OREGON REGION

P

ORTLAND, Oregon (July 1, 2019) Coldwell Banker Bain, a leading provider of real estate brokerage services throughout Washington and Oregon, releases its second-quarter market report providing a variety of statistics for the sale of homes in neighborhoods and counties in SW Washington and Oregon, as well as for other segments, including luxury and condos. This second-quarter report reflects activity between April 1, 2019 and June 30, 2019.* Ward Spears, Coldwell Banker Bain’s Oregon Regional Manager, said, “Currently, there is significant variability regarding market strength when comparing specific

sub-markets. While some sub-markets remain strong with significant competition among buyers, activity in other areas is slowing, leading to longer market times.

Home buyers and sellers who form opinions based on general market trends will struggle to make good decisions over the next few months. Working with a well-informed broker is a key to having a successful home buying or selling experience in markets such as this. At this time in the market, a strong employment outlook and borrowing rates significantly lower than this time last year, should lead to strong buyer confidence once sellers adjust their price expectations in the sub-markets that are currently experiencing slight cooling.”

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

19

PORTLAND OREGON

B

rian Houston, Principal Managing Broker of Coldwell Banker Bain of Portland West, said, “Listing inventory is on the rise in the Portland metro area, including Yamhill County. Multnomah County saw an increase of 2.9% over the same quarter last year while Clackamas County was up 5.4%, Yamhill County was up 6.9% and the greatest increase was seen in Washington County, which was up 19.9%.

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Q 2 | 2019 PA C I F I C N O RT H W E S T M A RKE T RE P O RT

An interesting note is that Portland metro condo listings increased 21.6% above the same quarter last year. And even though interest rates are at an all-time low, buyers are taking more time and looking at more homes before they make their buying decision. Sellers are finding that buyers are asking for more incentives and other consideration as part of the negotiation process.�

PORTLAND OREGON REGION Beaverton -Aloha | Lake Oswego - West Linn | Milwaukie - Gladstone - Happy Valley North Portland | Northeast Portland | Southeast Portland | West Portland - Raleigh Hills

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

North Portland

$442,000

20

Northeast Portland

$511,000

24

Southeast Portland

$441,000

28

West Portland - Raleigh Hills

$700,000

33

Lake Oswego - West Linn

$788,000

43

Milwaukie - Gladstone Happy Valley

$469,000

37

Beaverton - Aloha

$459,000

22

Portland Metro (Tri-County) Area Condos

$344,000

40

Portland Metro Area Luxury ($1+M | SF+C)

$1,354,000

56

$0K

$300K

$600K

$900K

$1200K

$1500K

NUMBER OF SALES CLOSED 1200 1000

1082

800

894

600

650

400 200

496 277

603

556

357

235

0 North Portland

Northeast Portland

Southeast Portland

West Portland, Raleigh Hills

Lake Oswego, West Linn

Milwaukie, Gladstone & Happy Valley

Beaverton, Aloha

Portland Metro (Tri-County) Area Condos

Portland Metro Area Luxury ($1+M | SF+C)

INVENTORY IN UNITS - 07/01/2019 156

400

548

540

389

503

300

1087

612

-1.3%

+0.3%

-3.4%

+1.1%

-2.2%

+6.6%

+14.9%

+21.6%

+6.21%

Northeast Portland

Southeast Portland

West Portland, Raleigh Hills

Lake Oswego, West Linn

Milwaukie, Gladstone & Happy Valley

Beaverton, Aloha

Portland Metro

Portland Metro Area Luxury

North Portland

(Tri-County) Area Condos

($1+M | SF+C)

Q 2 | 2019 PA C IF IC NORT HW E S T MA RKE T REPORT

21

OREGON REGION COUNTIES Clackamass County | Multnomah County | Yamhill County | Washington County

SINGLE FAMILY (SF), CONDO

AVERAGE SOLD PRICE (Nearest $000)

AVERAGE DOM

Clackamas County

$542,000

41

Multnomah County

$496,000

28

Yamhill County

$496,000

27

Washington County

$394,000

47

$0K

$100K

$200K

$300K

$400K

$500K

$600K

NUMBER OF SALES CLOSED 3000 2500 2000

2561

1500 1000

1885

1642

417

500 0

Clackamas County

Multnomah County

Yamhill County

Washington County

INVENTORY IN UNITS - 07/01/2019

22

1459

1853

1246

339

+5.4%

+2.9%

+19.9%

+6.9%

Clackamas County

Multnomah County

Yamhill County

Washington County

Q 2 | 2019 PA C I F I C N O RT H W E S T M A RKE T RE P O RT

*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS) each quarter. Statistics not compiled or published by the NWMLS.