SOUTHWEST WASHINGTON Q 2 2 0 2 0 M A R K ET R E P O RT
coldwellbankerbain.com
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 2019. With 32 offices and more than 1,100 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.
202O Q2 MARKET REPORT
MIKE GRADY COLDWELL BANKER BAIN PRESIDENT & COO
Reflecting on the first quarter numbers and the impacts of the COVID-19 outbreak on the market, Mike Grady, Coldwell Banker Bain President and COO, said, “Well the jet engines have started and our marketplace has accelerated. The constants remain the same as they’ve been for several years now… most namely, inventory, inventory, inventory. In fact, in most of our markets we’re seeing anywhere from 40−50 percent less than in the second quarter of 2019. There are a couple of markets— Ballard/Greenlake and downtown condos—that are not currently experiencing this trend. The latter is most likely a result of an uncertainty going forward on downtown commuting and how the Ballard/Greenlake area has been one of the hottest markets for years, so a slight increase now is not unexpected.
Median prices are escalating between 5 and 30 percent depending on the area, and while closed sales are down that’s because they reflect for the most part listings taken in the latter part of the quarter. We expect fireworks when the closed numbers come in for July. Our agents are reporting a lot of movement to and diminishing inventory in outlying areas such as Bellingham, Bainbridge Island, Eastern Washington, Bend, OR and other recreational-type locations, given the ability to work from home or take an early retirement. We hope that this trend may open up additional inventory in the Puget Sound region. Facilitation of virtual transactions is also becoming more common, with brokers reporting an increase in transactions that are handled 100 percent virtually—with the buyers purchasing the homes without ever personally stepping inside.”
2020 Q2 PACIFIC NORTHWEST MARKET REPORT
3
202O Q2 MARKET REPORT
DAVID KNODE
PRINCIPAL MANAGING BROKER FOR VANCOUVER EAST
“At the end of the first quarter 2020 business had been altered by COVID-19... that is a fact,” said David Knode, Principal Managing Broker of Coldwell Banker Bain of Vancouver East. “The closed transactions for that quarter mostly came together before the Governor of Washington, Jay Inslee, issued the Stay Home, Stay Safe order. The real story will be how business will fair in the 2nd, 3rd and 4th quarters of the year. The second quarter of 2020 has been an interesting ride. Most brokers are reporting being busier than they have been in quite some time. Median sales prices in both Cowlitz and Clark Counties rose 4.9 percent and 7 percent respectively.
4 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
However, the number of closed sales and new listings are down in both counties. Additionally, the number of days a house is on the market before receiving an acceptable offer is down. So, on one hand we have an indicator rising while the other is falling, but they do go hand- in-hand. I feel like a broken record, the jump in median prices and the lower days on the market are a direct effect of lower inventory. Buyers are still buying due to the relative affordability in the SW Washington market. The general feeling is that the market is percolating quite nicely, though not quite at the same level that we had last year.”
CLARK COUNTY
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
FISHERS LANDING / CAMAS / WASHOUGAL / HEIGHTS-CASCADE PARK / BRUSH PRAIRIE / HOCKINSON / ORCHARDS
MEDIAN SOLD PRICE (NEAREST $000)
AVERAGE DOM
Fishers Landing
$393K
15 $510K
Camas
52
$449K
Washougal HeightsCascade Park
35 36
$381K
Brush Prairie Hockinson Orchards
$439K
40
$445K
42
$349K $100K
$200K
$300K
19
$400K
$500K
$600K
NUMBER OF SALES CLOSED 250 200
1,724 | TOTAL SALES CLOSED
203
IN CLARK COUNTY
150 100 50
67
136
47
151
72
311
0
Fishers Landing
Camas
Washougal
HeightsCascade Park
INVENTORY IN UNITS / 12.31.2019
Brush Prairie
Hockinson
Orchards
TOTAL CLARK COUNTY INVENTORY / 1,068
200
16
122
45
30
197
142
60
-40.7%
-49.2%
-54.5%
-45.5%
-31.6%
-35.2%
-58.9%
Camas
Washougal
HeightsCascade Park
Brush Prairie
Hockinson
Orchards
150
100
Fishers Landing 50
2020 Q2 PACIFIC NORTHWEST MARKET REPORT
5
CLARK COUNTY
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
RIDGEFIELD / BATTLEGROUND / WOODLAND / LA CENTER / SALMON CREEK / FELIDA / VANCOUVER
MEDIAN SOLD PRICE (NEAREST $000)
AVERAGE DOM
Ridgefield
45
$464K
Battleground
$399K
40
Woodland
$396K
42
250 200
La Center
51
$540K
150
Salmon Creek 100
42
$420K
Felida
22
$490K
50
Vancouver 0
29
$355K $100K
$200K
$300K
$300K
$500K
$500K
NUMBER OF SALES CLOSED 200
1,724
150
177
100
TOTAL SALES CLOSED IN CLARK COUNTY
109
50
65
54 32
17 3
0
Ridgefield
Battleground
Woodland
La Center
INVENTORY IN UNITS / 06.30.2020
Salmon Creek
Felida
Vancouver
TOTAL CLARK COUNTY INVENTORY / 1,068
177
109
17
3
65
31
54
-21.2%
-40.1%
-52.8%
-66.7%
-62.6%
-59.2%
-56.8%
Ridgefield
Battleground
Woodland
La Center
Salmon Creek
6 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
Felida
Vancouver
COWLITZ COUNTY
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
BEACON HILL / COLUMBIA HEIGHTS / EAST COUNTY / SOUTH COUNTY / NORTHLAKE / NORTH KELSO / NORTH COUNTY / OLYMPIC / WEST COUNTY / ST. HELENS
MEDIAN SOLD PRICE (NEAREST $000)
AVERAGE DOM
Beacon Hill
9
$268K
Columbia Heights
25
$305K
East County
59
$415K
South County
46
$360K
Northlake
22
$285K
North Kelso
$223K
28
North County
$320K
67
$254K
Olympic West County
16 44
$338K $260K
St. Helens $50K
$100K
$150K
$200K
$250K
10 $300K
$350K
$400K
NUMBER OF SALES CLOSED 60 50
215
40
TOTAL SALES CLOSED IN COWLITZ COUNTY
30
51
20 10
16
17
Beacon Hill
Columbia Heights
23
31 5
28
12
16
16
0
East County
South County
Northlake
North Kelso
INVENTORY IN UNITS / 06.30.2020
North County
Olympic
West County
St. Helens
TOTAL COWLITZ COUNTY INVENTORY / 80
4
5
4
15
2
8
27
6
6
3
-50.0%
-44.4%
-83.3%
-69.4%
-50.0%
+60.0%
-34.1%
-14.3%
-60.0%
-57.1%
Columbia Heights
East County
South County
Northlake
North Kelso
North County
Olympic
West County
Beacon Hill
St. Helens
2020 Q2 PACIFIC NORTHWEST MARKET REPORT
7
CLARK COUNTY B ATTLEGR OU ND
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
170
217
-21.7%
MEDIAN SOLD PRICE
$399K
$370K
+7.8%
40
39
+2.6%
MEDIAN SOLD PRICE
99%
98%
+1.0%
UP +7.8% from 2019
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
203
305
-33.4%
MEDIAN SOLD PRICE
$439K
$430K
+2.1%
40
42
-4.8%
MEDIAN SOLD PRICE
99%
99%
+0.0%
UP +2.1% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$399K
B R USH PR AI R I E
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
8 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
$439K
CLARK COUNTY CA MAS
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
136
148
-8.1%
MEDIAN SOLD PRICE
$404K
$370K
+8.5%
52
37
+40.5%
MEDIAN SOLD PRICE
98%
98%
+0.0%
UP +8.5% from 2019
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
48
72
-33.3%
MEDIAN SOLD PRICE
$490K
$420K
+16.7%
22
46
-52.2%
MEDIAN SOLD PRICE
99%
96%
+3.1%
UP +16.7% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$510K FELIDA
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$490K
2020 Q2 PACIFIC NORTHWEST MARKET REPORT
9
CLARK COUNTY FISHERS L A N DI N G
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
47
48
-2.1%
MEDIAN SOLD PRICE
$393K
$388K
+1.3%
$393K
15
15
+0.0%
MEDIAN SOLD PRICE
100%
100%
+0.0%
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
72
89
-19.1%
MEDIAN SOLD PRICE
$381K
$375K
+2.0%
$381K
36
49
-26.5%
MEDIAN SOLD PRICE
98%
97%
+1.0%
UP +1.6% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +1.3% from 2019
H EIGHTS -CAS CADE PA RK
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
10 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
CLARK COUNTY HO C KI N SO N
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
151
208
-27.4%
MEDIAN SOLD PRICE
$445K
$425K
+4.7%
$445K
42
48
-12.5%
MEDIAN SOLD PRICE
99%
99%
+0.0%
UP +4.7% from 2019
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
4
8
-50.0%
MEDIAN SOLD PRICE
$540K
$498K
+8.4%
$540K
51
77
-33.8%
MEDIAN SOLD PRICE
98%
96%
+2.1%
UP +8.4% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
L A CENTER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q2 PACIFIC NORTHWEST MARKET REPORT 11
CLARK COUNTY O RC HA RDS
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
311
370
-15.9%
MEDIAN SOLD PRICE
$349K
$326K
+7.1%
$349K
19
31
-38.7%
MEDIAN SOLD PRICE
100%
100%
+0.0%
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
131
142
-7.7%
MEDIAN SOLD PRICE
$464K
$459K
+1.1%
$464K
45
57
-21.1%
MEDIAN SOLD PRICE
99%
98%
+1.0%
UP 1.1% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +7.1% from 2019
R IDGEFIELD
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
12 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
CLARK COUNTY SA L MO N C RE E K
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
156
194
-19.6%
MEDIAN SOLD PRICE
$420K
$407K
+3.2%
$420K
42
44
-4.5%
MEDIAN SOLD PRICE
99%
99%
+0.0%
UP +3.2% from 2019
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
200
241
-17.0%
MEDIAN SOLD PRICE
$355K
$335K
+0.2%
$355K
29
34
-14.7%
MEDIAN SOLD PRICE
100%
99%
+1.0%
UP +6.0% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
VAN COU V ER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q2 PACIFIC NORTHWEST MARKET REPORT 13
CLARK COUNTY WASHO U GA L
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
67
108
-38.0%
MEDIAN SOLD PRICE
$430K
$394K
+14.0%
$449K
35
33
+6.1%
MEDIAN SOLD PRICE
98%
98%
+0.0%
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
28
40
-30.0%
MEDIAN SOLD PRICE
$396K
$386K
+2.6%
$396K
42
47
-10.6%
MEDIAN SOLD PRICE
98%
98%
+0.0%
UP +2.6% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +14.0% from 2019
W OODL AN D
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
14 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
COWLITZ COUNTY B EAC O N HI L L
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
16
23
-30.4%
MEDIAN SOLD PRICE
$268K
$262K
+2.3%
$268K
9
17
-47.1%
MEDIAN SOLD PRICE
102%
101%
+1.0%
UP +2.3% from 2019
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
17
20
-15.0%
MEDIAN SOLD PRICE
$305K
$325K
-6.2%
$305K
25
34
-26.5%
MEDIAN SOLD PRICE
100%
99%
+1.0%
DOWN -6.2% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
COLU MBIA H EIG HTS
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q2 PACIFIC NORTHWEST MARKET REPORT 15
COWLITZ COUNTY EAST C O U NTY
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
23
16
+43.8%
MEDIAN SOLD PRICE
$415K
$430K
-3.5%
$415K
55
49
+12.2%
MEDIAN SOLD PRICE
99%
95%
+4.2%
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
31
40
-22.5%
MEDIAN SOLD PRICE
$360K
$330K
+9.1%
$360K
46
40
+15.0%
MEDIAN SOLD PRICE
98%
97%
+1.0%
UP +9.1% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
DOWN -3.5% from 2019
KAL AMA , S OUTH COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
16 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
COWLITZ COUNTY N O RTHL A KE
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
65
78
-16.7%
MEDIAN SOLD PRICE
$433K
$410K
+5.6%
$558K
62
72
-13.9%
MEDIAN SOLD PRICE
96%
96%
+0.0%
UP +5.6% from 2019
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
51
36
+41.7%
MEDIAN SOLD PRICE
$320K
$285K
+12.3%
$320K
67
41
+63.4%
MEDIAN SOLD PRICE
98%
97%
+1.0%
UP +12.3% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
N ORTH COU NTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q2 PACIFIC NORTHWEST MARKET REPORT 17
COWLITZ COUNTY N O RTH KELSO
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
16
11
+45.5%
MEDIAN SOLD PRICE
$223K
$195K
+14.4%
$223K
28
33
-15.2%
MEDIAN SOLD PRICE
99%
100%
-1.0%
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
28
19
+47.4%
MEDIAN SOLD PRICE
$254K
$223K
+13.9%
$254K
16
26
-38.5%
MEDIAN SOLD PRICE
100%
100%
+0.0%
UP +13.9% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +14.4% from 2019
OLY MPIC
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
18 2020 Q2 PACIFIC NORTHWEST MARKET REPORT
COWLITZ COUNTY ST. HEL EN S
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
16
26
-38.5%
MEDIAN SOLD PRICE
$260K
$250K
+5.6%
$260K
10
18
-44.4%
MEDIAN SOLD PRICE
100%
100%
+1.0%
UP +4.0% from 2019
Q2 | 2020
Q2 | 2019
CHANGE
TOTAL HOMES SOLD
12
23
-47.8%
MEDIAN SOLD PRICE
$338K
$312K
+8.3%
$338K
44
35
+25.7%
MEDIAN SOLD PRICE
98%
98%
+0.0%
UP +8.3% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
W EST COU NTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q2 PACIFIC NORTHWEST MARKET REPORT 19
*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.