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.