Coldwell Banker Bain | Q2 2022 SW WA Market Report

SW WASHINGTON 2022 Q2 MARKET REPORT

Helping people buy and sell homes in the Pacific Northwest since 1972, Coldwell Banker Bain is an undisputed market leader, posting over $8 billion in sales in 2021. With 34 offices and more than 1,200 brokers in Washington and Oregon, plus a global reach that extends to over 100,000 brokers in 41 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.

2022

Q2 MARKET REPORT

JOHN DEELY Executive Vice President of Operations “ While there was a decrease in closed sales during Q2 in most regions, there is no reason for concern, as we continue to move toward a more balanced market.

Some of the slowdown is simply part of a seasonal cycle our area experiences once school is out, as people begin to travel. In fact, travel is hitting peak numbers, as the world continues to open. The Luxury markets experienced increasing sales over prior year as we see a shift to investment in the safe harbor of real estate. The typical statistic for a balanced market is considered between 4-6 months’ worth of inventory. We have less than a month and a half’s worth of inventory in most areas, which is still a solid seller’s market. Almost every region continued to see upward pressure on prices despite slowing and leveling out this year. The building inventory and slowdown in the steep price appreciation provides more available properties for buyers and has sellers jockeying to be the most desirable listing in their marketplace.”

2022 Q2 SW WASHINGTON MARKET REPORT

3

2022 Q2 MARKET REPORT

DAVID KNODE southwest regional manager of coldwell banker bain “ In Southwest Washington, the second quarter of 2022 continued the same path as the first: lack of inventory, a high number of buyers, and a drastic shortage of listings to sell made for a hectic time in real estate. However, June of 2022 came along, and that is where it started to get interesting. World events crept into the news; consequently, we have all felt the pangs of inflation, from gas to groceries. With media talk of a looming recession on the horizon, we have also seen story after story about rising mortgage interest rates. In January 2022, interest rates were in the low 3% area, and by June, they had jumped into the mid 5% area. There seems to be a feeling of a slight braking pressure being applied to the engine we call the Real Estate Market. Sales are still happening, new listings are hitting that market, and buyers are still looking for homes. That fevered pace, however, has slowed down. Those same buyers looking and offering on homes six months ago are now taking their time and making sure that the house they had in mind is what they want and, because of increased interest rates, what they can afford. It is imperative that buyers and sellers consult with their real estate professionals in this changing market. Sellers: Price your house correctly. Buyers: Make an appropriate offer despite the market being in flux.”

4 2022 Q2 SW WASHINGTON MARKET REPORT

clark county

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

BATTLEGROUND | BRUSH PRAIRIE | CAMAS | FELIDA | FISHERS LANDING HEIGHTS-CASCADE PARK | HOCKINSON MEDIAN SOLD PRICE

AVERAGE DOM

Battleground

22

$560K

7

$650K

Brush Prairie

16

$790K

Camas Felida

8

$644K

6

$569K

Fishers Landing HeightsCascade Park

8

$490K

5

$885K

Hockinson $200K

$400K

$600K

$800K

$1M

NUMBER OF SALES CLOSED

250

2,072

200 150

CLARK COUNTY SALES CLOSED

171

100

156

3

170

54

50

123

3

0

Brush Prairie

Battleground

Camas

Felida

INVENTORY IN UNITS / 06.30.22

Fishers Landing

HeightsCascade Park

Hockinson

TOTAL CLARK COUNTY INVENTORY / 938

1200

96

2

86

70

25

48

2

+60.0% 800

-33.3%

+115.0%

+169.2%

+257.1%

+100.0%

+100.0%

600 Battleground

Brush Prairie

Camas

Felida

Fishers Landing

HeightsCascade Park

Hockinson

1000

400 200 0

clark county

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

LA CENTER | ORCHARDS | RIDGEFIELD | SALMON CREEK | WASHOUGAL | WOODLAND | VANCOUVER MEDIAN SOLD PRICE

AVERAGE DOM

La Center

5

$624K

Orchards

7

$480K

250

Ridgefield

23

$685K

200

Salmon

12

$552K

Creek 150

Vancouver

9

$513K

100

Washougal

21

$651K

50

Woodland

18

$515K

0

$100K

$200K

$300K

$400K

$500K

$600K

$700K

$800K

NUMBER OF SALES CLOSED

1200

2,072

1000

CLARK COUNTY SALES CLOSED

800

1,097

600 400

141

28

200

132

138

Ridgefield

Salmon Creek

112 20

0

La Center

Orchards

INVENTORY IN UNITS / 06.30.22

Vancouver

Washougal

Woodland

TOTAL CLARK COUNTY INVENTORY / 938

16

57

64

75

407

65

13

+128.6%

+235.3%

+73.0%

+150.0%

+160.9%

+132.1%

+225.0%

La Center

Orchards

Ridgefield

Vancouver

Washougal

Woodland

6 2022 Q2 SW WASHINGTON MARKET REPORT

Salmon Creek

cowlitz county

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

BEACON HILL | COLUMBIA HEIGHTS | EAST COUNTY | OUTH COUNTY | NORTHLAKE NORTH KELSO | NORTH COUNTY | OLYMPIC | WEST COUNTY | ST. HELENS

MEDIAN SOLD PRICE

AVERAGE DOM

Beacon Hill

11

$400K

Columbia Heights

11

$465K

East County

9

$453K

South County

9

$522K

North County

23

$435K

North Kelso

17

$288K

Northlake

8

$400K

Olympic

12

$365K

St. Helens

9

$334K

West County

31

$409K $100K

$200K

$300K

$400K

$500K

$600K

NUMBER OF SALES CLOSED

372

60 50

COWLITZ COUNTY SALES CLOSED

40

51

30

38

20

21

10

14

8 17

18

20

North Kelso

Northlake

17

20

0

Beacon Hill

Columbia Heights

East County

Kalama, Woodland, South County

North County

INVENTORY IN UNITS / 06.30.22

Olympic

St. Helens

West County

TOTAL COWLITZ COUNTY INVENTORY / 195

4

11

12

28

30

9

6

12

8

12

+0.0%

+83.3%

+200.0%

+154.5%

+76.5%

+125.0%

+100.0%

+100.0%

+60.0%

+50.0%

Beacon Hill

Columbia Heights

East County

Kalama, Woodland, South County

North County

North Kelso

Northlake

Olympic

St. Helens

West County

2022 Q2 SW WASHINGTON MARKET REPORT

7

BATTLEGROUND

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

170

151

+12.6%

MEDIAN SOLD PRICE

$560K

$473K

+18.4%

22

20

+10.0%

102%

104%

-1.9%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

3

5

-40.0%

MEDIAN SOLD PRICE

$650K

$600K

+8.3%

7

5

+40.0%

102%

102%

+0.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$560K MEDIAN SOLD PRICE UP +18.4% from 2021

BRUSH PRAIRIE

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

8 2022 Q2 SW WASHINGTON MARKET REPORT

$650K MEDIAN SOLD PRICE UP +8.3% from 2021

CAMAS

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

171

216

-20.8%

MEDIAN SOLD PRICE

$790K

$630K

+25.4%

16

17

-5.9%

103%

104%

-1.0%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

156

175

-10.9%

MEDIAN SOLD PRICE

$644K

$560K

+15.0%

8

14

-42.9%

104%

104%

+0.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$790K MEDIAN SOLD PRICE UP +24.7% from 2021

FELIDA

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$644K

MEDIAN SOLD PRICE UP +15.0% from 2021

2022 Q2 SW WASHINGTON MARKET REPORT

9

clark county FISHERS LANDING

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

54

51

+5.9%

MEDIAN SOLD PRICE

$569K

$498K

+14.3%

6

5

+20.0%

104%

103%

+1.0%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

123

125

-1.6%

MEDIAN SOLD PRICE

$490K

$430K

+14.0%

8

9

-11.1%

103%

105%

-1.9%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$569K

MEDIAN SOLD PRICE UP +14.3% from 2021

HEIGHTS-CASCADE PARK

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

10 2022 Q2 SW WASHINGTON MARKET REPORT

$490K MEDIAN SOLD PRICE UP +21.7% from 2021

HOCKINSON

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

3

2

+50.0%

MEDIAN SOLD PRICE

$885K

$708K

+25.0%

5

18

-72.2%

103%

91%

+13.2%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

28

32

-12.5%

MEDIAN SOLD PRICE

$624K

$537K

+16.2%

5

16

-68.8%

102%

103%

-1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$885K

MEDIAN SOLD PRICE UP +25.0% from 2021

LA CENTER

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$624K

MEDIAN SOLD PRICE UP +16.2% from 2021

2022 Q2 SW WASHINGTON MARKET REPORT

11

clark county ORCHARDS

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

141

180

-21.7%

MEDIAN SOLD PRICE

$480K

$475K

+1.1%

7

18

-61.1%

103%

104%

-10.0%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

132

211

-37.4%

MEDIAN SOLD PRICE

$685K

$495K

+38.4%

23

26

-11.5%

103%

104%

-1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$480K MEDIAN SOLD PRICE UP +1.1% from 2021

RIDGEFIELD

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

12 2022 Q2 SW WASHINGTON MARKET REPORT

$685K

MEDIAN SOLD PRICE UP +38.4% from 2021

SALMON CREEK

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

138

178

-22.5%

MEDIAN SOLD PRICE

$552K

$535K

+3.2%

12

12

+0.0%

101%

104%

-2.9%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

1,097

1,173

-6.5%

MEDIAN SOLD PRICE

$513K

$445K

+15.3%

9

10

-10.0%

103%

104%

-1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$552K

MEDIAN SOLD PRICE UP +3.2% from 2021

VANCOUVER

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$513K

MEDIAN SOLD PRICE UP +15.3% from 2021

2022 Q2 SW WASHINGTON MARKET REPORT

13

clark county WASHOUGAL

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

112

99

+13.1%

MEDIAN SOLD PRICE

$651K

$551K

+18.1%

21

15

+40.0%

102%

103%

-1.0%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

20

22

-9.1%

MEDIAN SOLD PRICE

$515K

$470K

+9.6%

18

17

+5.9%

101%

103%

-1.9%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$651K

MEDIAN SOLD PRICE UP +18.1% from 2021

WOODLAND

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

14 2022 Q2 SW WASHINGTON MARKET REPORT

$515K

MEDIAN SOLD PRICE UP +9.6% from 2021

BEACON HILL

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

21

24

-12.5%

MEDIAN SOLD PRICE

$400K

$382K

+4.7%

11

9

+22.2%

101%

102%

-1.0%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

8

19

-57.9%

MEDIAN SOLD PRICE

$390K

$370K

+25.7%

11

7

+57.1%

100%

103%

-2.9%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$400K MEDIAN SOLD PRICE UP +4.7% from 2021

COLUMBIA HEIGHTS

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$465K

MEDIAN SOLD PRICE UP +25.7% from 2021

2022 Q2 SW WASHINGTON MARKET REPORT

15

cowlitz county EAST COUNTY

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

17

16

+6.3%

MEDIAN SOLD PRICE

$453K

$446K

+1.6%

9

22

-59.1%

102%

99%

+3.0%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

38

39

-2.6%

MEDIAN SOLD PRICE

$522K

$513K

+1.8%

9

9

+0.0%

100%

101%

-1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$453K

MEDIAN SOLD PRICE UP +1.6% from 2021

KALAMA, SOUTH COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

16 2022 Q2 SW WASHINGTON MARKET REPORT

$522K

MEDIAN SOLD PRICE UP +1.8% from 2021

NORTH COUNTY

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

51

54

-5.6%

MEDIAN SOLD PRICE

$435K

$433K

+0.5%

23

14

+64.3%

99%

103%

-3.9%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

18

21

-14.3%

MEDIAN SOLD PRICE

$288K

$270K

+6.7%

17

6

+183.3%

102%

103%

-1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$435K

MEDIAN SOLD PRICE UP +0.5% from 2021

NORTH KELSO

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$288K

MEDIAN SOLD PRICE UP +6.7% from 2021

2022 Q2 SW WASHINGTON MARKET REPORT

17

cowlitz county NORTHLAKE

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

20

13

+53.8%

MEDIAN SOLD PRICE

$400K

$328K

+22.0%

8

26

-69.2%

101%

104%

-2.9%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

17

26

-34.6%

MEDIAN SOLD PRICE

$365K

$331K

+10.3%

12

13

-7.7%

101%

102%

-1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$400K MEDIAN SOLD PRICE UP +22.0% from 2021

OLYMPIC

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

18 2022 Q2 SW WASHINGTON MARKET REPORT

$365K

MEDIAN SOLD PRICE UP +10.3% from 2021

ST. HELENS

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

20

19

+5.3%

MEDIAN SOLD PRICE

$334K

$285K

+17.2%

9

7

+28.6%

103%

104%

-1.0%

Q2 2022

Q2 2021

CHANGE

TOTAL HOMES SOLD

14

19

-26.3%

MEDIAN SOLD PRICE

$409K

$450K

-9.1%

31

27

+14.8%

96%

103%

-6.8%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$334K

MEDIAN SOLD PRICE UP +17.2% from 2021

WEST COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$409K

MEDIAN SOLD PRICE DOWN -9.1% from 2021

2022 Q2 SW WASHINGTON MARKET REPORT

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*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.