SOUTHWEST WASHINGTON 2020 Q3 MARKET REP ORT
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 Q3 MARKET REPORT
MIKE GRADY COLDWELL BANKER BAIN PRESIDENT & COO
Reflecting on the third quarter numbers, Mike Grady, Coldwell Banker Bain President and COO, said, “It is truly remarkable to see the significant increase in closed sales this quarter, which speaks to sellers becoming much more confident and buyers competing more effectively, most likely due to the low interest rates. It’s as if we just completed our typical ‘spring’ market, are now heading into our ‘summer’ market, and will hit the ‘fall’ market in December. Home prices continue to increase in double digits, and months of inventory on hand is still historically low. Luxury and waterfront sales simply amaze. This data points to what we see as a continued steady, and perhaps upward, trajectory for the rest of the year. We’re seeing
significant impacts of people’s work from home situations, especially in more rural areas, as well as on larger, single-family sales. And given the recent announcements by Facebook, Amazon and Microsoft, all focused on either purchasing, building or renovating major office buildings in our region, these plans will counteract any impacts we may see going forward related to Boeing’s announcement for reducing services of its Everett plant. We also don’t believe that Freddie Mac’s and Fannie Mae’s slight tightening of credit requirements will have anything but a minor impact on buyer loan qualification meaning we expect interest rates to remain at all-time lows – which is good for both buyers and sellers.”
2020 Q3 PACIFIC NORTHWEST MARKET REPORT
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202O Q3 MARKET REPORT
DAVID KNODE
PRINCIPAL MANAGING BROKER FOR VANCOUVER EAST
“If I were to give a headline to Southwest Washington’s third quarter 2020 real estate news it would be ‘New Listing Disappears In A Blink of an Eye!’”, said David Knode, Coldwell Banker Bain’s SW WA Regional Manager. “Actually, I think that would be the mantra for the entire year so far. Active listings on the market and ready to sell in Clark & Cowlitz Counties are down drastically market wide compared to the third quarter of 2019—down 54.3% and 43.5% respectively. Because of that low inventory number, almost every house that comes on the market regardless of price has a large amount of activity. Coupled with the low inventory and historically low interest rates and
4 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
you have a feeding frenzy and a strong sellers’ market. Median sales price and the number of sales contracts written and accepted are up in both Clark and Cowlitz Counties in excess of 10%. The number of days a home is on the market in Clark County is still a very short 36 days; however, in Cowlitz County it is 25 days, a reduction of almost 30% from this time last year. We are now approaching an election. Just like every election in the past, there will be a momentary lull and then back to the insanity we call our market as we now know it. We have all learned new ways of doing business safely and efficiently that I am sure will continue well into the future.”
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
$408K
19 $547K
Camas
65
$483K
Washougal HeightsCascade Park
31 27
$440K $465K
Brush Prairie Hockinson
47 53
$475K
Orchards
$360K $100K
$200K
$300K
$400K
21 $500K
$600K
NUMBER OF SALES CLOSED 400
2,439
350 300
CLARK COUNTY SALES CLOSED
250 200 150 100
66
380
356
244
111
105
258
Camas
Washougal
HeightsCascade Park
50 0
Fishers Landing
INVENTORY IN UNITS / 09.30.2020
Brush Prairie
Hockinson
Orchards
TOTAL CLARK COUNTY INVENTORY / 775
300 250
25
232
98
67
305
235
130
-64.0% 200
-72.0%
-59.2%
-55.2%
-61.0%
-64.7%
-55.4%
Camas
Washougal
HeightsCascade Park
Brush Prairie
Hockinson
Orchards
150
Fishers 100 Landing 50
2020 Q3 PACIFIC NORTHWEST MARKET REPORT
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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
$448K
54
Battleground
$385K
34
350 Woodland
$482K
31
La250 Center
$505K
9
200 Salmon Creek 150
$400K
34
100 Felida
$447K
32
$335K
22
400
300
50
Vancouver 0
$100K
$200K
$300K
$300K
$500K
$500K
NUMBER OF SALES CLOSED 300 250
2,439
200 150
CLARK COUNTY SALES CLOSED
251
223
100
271 218
79
Salmon Creek
Felida
45
50
8
0
Ridgefield
Battleground
Woodland
La Center
INVENTORY IN UNITS / 09.30.2020
Vancouver
TOTAL CLARK COUNTY INVENTORY / 775
169
165
35
6
144
49
118
-25.4%
-36.4%
-25.7%
-83.3%
-73.6%
-61.2%
-52.5%
Ridgefield
Battleground
Woodland
La Center
Salmon Creek
Felida
Vancouver
6 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
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
14
$314K
Columbia Heights
19
$375K
East County
$520K
South County
40
$410K
Northlake
27
$318K
North Kelso
$245K
18
North County
$343K
Olympic
52
$271K
15
West County
17
$380K $260K
St. Helens $100K
$200K
46
14
$300K
$400K
$500K
$600K
NUMBER OF SALES CLOSED 80 70
436
60 50
COWLITZ COUNTY SALES CLOSED
40 30 20
14
30
10
69 57
13
11 19
24
22
21
Olympic
West County
St. Helens
0
Beacon Hill
Columbia Heights
East County
South County
Northlake
INVENTORY IN UNITS / 09.30.2020
North Kelso
North County
TOTAL COWLITZ COUNTY INVENTORY / 80
5
11
15
40
5
9
43
6
10
5
+20.0%
-63.6%
-60.0%
-30.0%
-60.0%
-66.7%
-51.2%
-50.0%
-30.0%
-100%
Beacon Hill
Columbia Heights
East County
South County
Northlake
North Kelso
North County
Olympic
West County
St. Helens
2020 Q3 PACIFIC NORTHWEST MARKET REPORT
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CLARK COUNTY B ATTLEGR OU ND
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
251
228
+10.1%
MEDIAN SOLD PRICE
$430K
$385K
+11.7%
$430
34
33
+3.0%
MEDIAN SOLD PRICE
99%
98%
+1.0%
UP +11.7% from 2019
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
356
280
+27.1%
MEDIAN SOLD PRICE
$465K
$438K
+9.4%
$465K
47
36
+30.6%
MEDIAN SOLD PRICE
100%
98%
+2.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE% B R USH PR AI R I E
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
8 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
UP +6.2% from 2019
CLARK COUNTY CA MAS
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
244
230
+6.1%
MEDIAN SOLD PRICE
$547K
$500K
+9.4%
$547K
65
45
+44.4%
MEDIAN SOLD PRICE
100%
98%
+2.0%
UP +9.4% from 2019
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
79
108
-26.9%
MEDIAN SOLD PRICE
$485K
$447K
+8.5%
$485K
32
43
-25.6%
MEDIAN SOLD PRICE
99%
97%
+2.1%
UP +8.5% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
FELIDA
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q3 PACIFIC NORTHWEST MARKET REPORT
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CLARK COUNTY FISHERS L A N DI N G
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
66
57
+15.8%
MEDIAN SOLD PRICE
$408K
$387K
+5.4%
$408K
19
22
-13.6%
MEDIAN SOLD PRICE
100%
99%
+1.0%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
105
119
-11.8%
MEDIAN SOLD PRICE
$440K
$380K
+15.8%
$440K
27
32
-15.6%
MEDIAN SOLD PRICE
98%
98%
+0.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +5.4% from 2019
H EIGHTS -CAS CADE PA RK
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
10 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
UP +15.8% from 2019
CLARK COUNTY HO C KI N SO N
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
258
187
+38.0%
MEDIAN SOLD PRICE
$475K
$439K
+8.2%
$475K
53
35
+51.4%
MEDIAN SOLD PRICE
99%
98%
+1.0%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
8
9
-11.1%
MEDIAN SOLD PRICE
$763K
$505K
+51.1%
$763K
9
42
-78.6%
MEDIAN SOLD PRICE
99%
98%
+1.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +8.2% from 2019
L A CENTER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +51.1% from 2019
2020 Q3 PACIFIC NORTHWEST MARKET REPORT 11
CLARK COUNTY O RC HA RDS
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
380
372
+2.2%
MEDIAN SOLD PRICE
$360K
$331K
+8.8%
$360K
21
24
-12.5%
MEDIAN SOLD PRICE
101%
99%
+2.0%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
223
136
+64.0%
MEDIAN SOLD PRICE
$480K
$448K
+7.1%
$480K
54
57
-5.3%
MEDIAN SOLD PRICE
98%
98%
+0.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +8.8% from 2019
R IDGEFIELD
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
12 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
UP 7.1% from 2019
CLARK COUNTY SA L MO N C RE E K
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
218
192
+13.5%
MEDIAN SOLD PRICE
$460K
$400K
+15.0%
$460K
34
38
-10.5%
MEDIAN SOLD PRICE
100%
98%
+2.0%
UP +15.0% from 2019
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
271
261
+3.8%
MEDIAN SOLD PRICE
$382K
$335K
+14.0%
$382K
22
25
-12.0%
MEDIAN SOLD PRICE
99%
98%
+1.0%
UP +14.0% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
VAN COU V ER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q3 PACIFIC NORTHWEST MARKET REPORT 13
CLARK COUNTY WASHO U GA L
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
111
115
-3.5%
MEDIAN SOLD PRICE
$483K
$405K
+19.3%
$483K
31
35
-11.4%
MEDIAN SOLD PRICE
98%
97%
+1.0%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
45
46
-2.2%
MEDIAN SOLD PRICE
$400K
$482K
-17.0%
$400K
31
37
-16.2%
MEDIAN SOLD PRICE
103%
97%
+6.2%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +19.3% from 2019
W OODL AN D
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
14 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
DOWN -17.0% from 2019
COWLITZ COUNTY B EAC O N HI L L
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
30
21
+42.9%
MEDIAN SOLD PRICE
$314K
$290K
+8.3%
$314K
14
35
-60.0%
MEDIAN SOLD PRICE
102%
98%
+4.1%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
14
21
-33.3%
MEDIAN SOLD PRICE
$375K
$325K
+15.4%
$375K
19
27
-29.6%
MEDIAN SOLD PRICE
101%
99%
+2.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +8.3% from 2019
COLU MBIA H EIG HTS
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +15.4% from 2019
2020 Q3 PACIFIC NORTHWEST MARKET REPORT 15
COWLITZ COUNTY EAST C O U NTY
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
13
16
-18.7%
MEDIAN SOLD PRICE
$520K
$335K
+55.2%
$520K
46
26
+76.9%
MEDIAN SOLD PRICE
98%
98%
+0.0%
UP +55.2% from 2019
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
57
53
+7.5%
MEDIAN SOLD PRICE
$360K
$350K
+17.1%
$410K
40
56
-28.6%
MEDIAN SOLD PRICE
101%
96%
+5.2%
UP +17.1% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE% KAL AMA , S OUTH COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
16 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
COWLITZ COUNTY N O RTHL A KE
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
11
15
-26.7%
MEDIAN SOLD PRICE
$318K
$260K
+22.3%
27
47
-42.6%
103%
98%
+5.1%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
69
58
+19.0%
MEDIAN SOLD PRICE
$343K
$312K
+9.9%
$343K
52
46
+13.0%
MEDIAN SOLD PRICE
99%
99%
+0.0%
UP +9.9% from 2019
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$318K MEDIAN SOLD PRICE UP +22.3% from 2019
N ORTH COU NTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
2020 Q3 PACIFIC NORTHWEST MARKET REPORT 17
COWLITZ COUNTY N O RTH KELSO
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
19
15
+26.7%
MEDIAN SOLD PRICE
$245K
$215K
+14.0%
$245K
18
19
-5.3%
MEDIAN SOLD PRICE
100%
102%
-2.0%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
24
33
-27.3%
MEDIAN SOLD PRICE
$271K
$245K
+10.6%
$271K
15
15
+0.0%
MEDIAN SOLD PRICE
101%
99%
+2.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +14.0% from 2019
OLY MPIC
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
18 2020 Q3 PACIFIC NORTHWEST MARKET REPORT
UP +10.6% from 2019
COWLITZ COUNTY ST. HEL EN S
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
22
23
-8.7%
MEDIAN SOLD PRICE
$260K
$230K
+13.0%
$260K
14
18
22.2%
MEDIAN SOLD PRICE
99%
97%
+4.1%
Q3 | 2020
Q3 | 2019
CHANGE
TOTAL HOMES SOLD
22
21
+4.8%
MEDIAN SOLD PRICE
$380K
$400K
-5.0%
$380K
17
54
-68.5%
MEDIAN SOLD PRICE
99%
97%
+2.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
UP +13.0% from 2019
W EST COU NTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
DOWN -5.0% from 2019
2020 Q3 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.