Coldwell Banker Bain 2021 Q1 Market Report | SW WASHINGTON

SW WASHINGTON 2021 Q1 MARKET REPORT

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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 2020. 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.

JOHN DEELY Executive Vice President of operations “Optimism abounds in the Puget Sound region as businesses continue to open back up, more residents become vaccinated, and we all look forward to getting back to a more ’normal’ way of life. And with local and national economists across the board forecasting a strong rebound going forward, we believe this trend to continue. The single-family numbers are truly astounding related to price appreciation and inventory, with double-digit increases in appreciation and very limited inventory on hand due to high demand. Buyers will continue to be challenged, with one bright spot being in the condo market. When looking at the numbers specific to residential activity on its own and condo activity on its own, there are opportunities throughout the region for condos. They are more reasonably priced and there is more inventory than residential homes. With interest rates still low, buyers should consider condos as an ownership opportunity and a way to build equity—especially if they are currently renting. In all cases, they will need to bring their patience, a qualified and experienced broker, and a realistic outlook on the financial implications of this market to their home search for the foreseeable future.”

2021 Q1 SW WASHINGTON MARKET REPORT

3

Q1 2021 MARKET REPORT

GREGG WHITE PRINCIPAL MANAGING BROKER FOR VANCOUVER West Said Gregg White, Principal Managing Broker of the Coldwell Banker Bain of Vancouver West office, “The Clark County market continues to labor underneath a tremendous shortage of available homes on the market. As of the end of the first quarter 2021 affordable homes are almost nonexistent, with less than 40 homes priced under $350,000, and this includes attached and detached homes, as well as condominiums.

The feeding frenzy continues as home prices continually climb as inventory dwindles. A buyer’s ability to be creative with their offers seem to get the upper hand in most negotiations and helping them to ‘win the bid.’

We are seeing less and less, contingencies included in offers, making it more attractive to sellers who can consider options that pose less of a risk.

On the bright side, new homes, and new developments are in a constant growth pattern in most areas of Clark County, giving buyers the ability to purchase and take advantage of historically, low-interest rates.”

4 2021 Q1 SW WASHINGTON MARKET REPORT

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

15

$478K

36

$614K

Camas Washougal

33

$515K

HeightsCascade Park

25

$445K

Brush Prairie Hockinson

34

$490K

34

$516K

Orchards

$394K $100K

$200K

$300K

$400K

16

$500K

$600K

$700K

NUMBER OF SALES CLOSED 1500

1,669

1200

CLARK COUNTY SALES CLOSED

285

900

211

600 300

38

150

Fishers Landing

Camas

64

81

143

0

Washougal

HeightsCascade Park

INVENTORY IN UNITS / 03.31.21

Brush Prairie

Hockinson

Orchards

TOTAL CLARK COUNTY INVENTORY / 271

1000 800

1

19

22

9

34

23

37

-87.5%

-88.0%

-60.0%

-73.5%

-84.7%

-86.6%

-58.9%

Fishers 400 Landing

Camas

Washougal

HeightsCascade Park

Brush Prairie

Hockinson

Orchards

600

200 0

2021 Q1 SW WASHINGTON 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

$460K

43

Battleground

$460K

34

1500

Woodland

26

$410K

1200

La Center

35

$587K

900

Salmon Creek

15

$496K

600

Felida

26

$538K

300

Vancouver

14

$390K

0

$100K

$200K

$300K

$400K

$500K

$600K

NUMBER OF SALES CLOSED 1000 800

1,669

600

CLARK COUNTY SALES CLOSED

152

229

400

199 110

50

Salmon Creek

Felida

31

200

10

0

Ridgefield

Battleground

Woodland

La Center

INVENTORY IN UNITS / 03.31.21

Vancouver

TOTAL CLARK COUNTY INVENTORY / 271

64

37

9

3

14

3

24

-58.2%

-69.2%

-62.5%

-40.0%

-84.3%

-88.0%

-70.4%

Ridgefield

Battleground

Woodland

La Center

Salmon Creek

Felida

Vancouver

6 2021 Q1 SW WASHINGTON 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

24

$335K

Columbia Heights

53

$382K

East County

36

$437K

South County

14

$380K

Northlake

8

$301K

North Kelso

22

$240K

North County

22

$402K

Olympic

19

$270K

West County

46

$413K

St. Helens

25

$258K $100K

$200K

$300K

$400K

$500K

NUMBER OF SALES CLOSED 50 40

316

30

COWLITZ COUNTY SALES CLOSED

14

20

48 38

10

12 6

25

10

14

13

West County

St. Helens

19

0

Beacon Hill

Columbia Heights

East County

South County

Northlake

North Kelso

INVENTORY IN UNITS / 03.31.21

North County

Olympic

TOTAL COWLITZ COUNTY INVENTORY / 45

2

1

4

8

0

1

8

3

1

1

-33.3%

-85.7%

-60.0%

-65.2%

-100%

-87.5%

-73.3%

-66.7%

-80.0%

0.0%

Beacon Hill

Columbia Heights

East County

South County

Northlake

North Kelso

North County

Olympic

West County

St. Helens

2021 Q1 SW WASHINGTON MARKET REPORT

7

clark county BATTLEGROUND

2021

2020

CHANGE

TOTAL HOMES SOLD

152

136

+11.8%

MEDIAN SOLD PRICE

$460K

$404K

+13.9%

34

63

-46.0%

98%

97%

+1.0%

2021

2020

CHANGE

TOTAL HOMES SOLD

211

221

-4.5%

MEDIAN SOLD PRICE

$490K

$442K

+10.9%

34

62

-45.2%

102%

99%

+3.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$460K

MEDIAN SOLD PRICE UP +13.9% from 2020

BRUSH PRAIRIE

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

8 2021 Q1 SW WASHINGTON MARKET REPORT

$490K MEDIAN SOLD PRICE UP +10.9% from 2020

CAMAS

2021

2020

CHANGE

TOTAL HOMES SOLD

150

139

+7.9%

MEDIAN SOLD PRICE

$614K

$561K

+9.4%

36

79

-54.4%

103%

97%

+6.2%

2021

2020

CHANGE

TOTAL HOMES SOLD

50

57

-12.3%

MEDIAN SOLD PRICE

$538K

$505K

+6.5%

26

63

-58.7%

102%

98%

+4.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$614K

MEDIAN SOLD PRICE UP +9.4% from 2020

FELIDA

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$538K

MEDIAN SOLD PRICE UP +6.5% from 2020

2021 Q1 SW WASHINGTON MARKET REPORT

9

clark county FISHERS LANDING

2021

2020

CHANGE

TOTAL HOMES SOLD

38

31

+22.6%

MEDIAN SOLD PRICE

$478K

$396K

+20.7%

15

31

-51.6%

103%

98%

+5.1%

2021

2020

CHANGE

TOTAL HOMES SOLD

81

70

+15.7%

MEDIAN SOLD PRICE

$445K

$406K

+9.6%

25

54

-53.7%

102%

96%

+6.3%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$478K

MEDIAN SOLD PRICE UP +20.7% from 2020

HEIGHTS-CASCADE PARK

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

10 2021 Q1 SW WASHINGTON MARKET REPORT

$445K MEDIAN SOLD PRICE UP +9.6% from 2020

HOCKINSON

2021

2020

CHANGE

TOTAL HOMES SOLD

143

157

-8.9%

MEDIAN SOLD PRICE

$516K

$435K

+18.6%

34

59

-42.4%

100%

98%

+2.0%

2021

2020

CHANGE

TOTAL HOMES SOLD

10

N/A

N/A

MEDIAN SOLD PRICE

$587K

N/A

N/A

35

N/A

N/A

99%

N/A

N/A

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$516K

MEDIAN SOLD PRICE UP +18.6% from 2020

LA CENTER

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$587K

MEDIAN SOLD PRICE N/A from 2020

2021 Q1 SW WASHINGTON MARKET REPORT 11

clark county ORCHARDS

2021

2020

CHANGE

TOTAL HOMES SOLD

285

240

+18.8%

MEDIAN SOLD PRICE

$394K

$340K

+8.8%

16

31

-48.4%

102%

100%

+2.0%

2021

2020

CHANGE

TOTAL HOMES SOLD

229

106

+116.0%

MEDIAN SOLD PRICE

$460K

$450K

+2.2%

43

61

-29.5%

102%

98%

+4.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$394K

MEDIAN SOLD PRICE UP +15.9% from 2020

RIDGEFIELD

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

12 2021 Q1 SW WASHINGTON MARKET REPORT

$460K

MEDIAN SOLD PRICE UP +2.2% from 2020

SALMON CREEK

2021

2020

CHANGE

TOTAL HOMES SOLD

110

143

-23.1%

MEDIAN SOLD PRICE

$496K

$428K

+15.9%

15

55

-72.7%

102%

100%

+2.0%

2021

2020

CHANGE

TOTAL HOMES SOLD

64

68

-5.9%

MEDIAN SOLD PRICE

$515K

$433K

+18.9%

33

63

-47.6%

100%

96%

+4.2%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$496K

MEDIAN SOLD PRICE UP +15.9% from 2020

WASHOUGAL

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$515K

MEDIAN SOLD PRICE UP +18.9% from 2020

2021 Q1 SW WASHINGTON MARKET REPORT 13

clark county WOODLAND

2021

2020

CHANGE

TOTAL HOMES SOLD

31

30

+3.3%

MEDIAN SOLD PRICE

$410K

$385K

+6.5%

26

46

-43.5%

98%

97%

+1.0%

2021

2020

CHANGE

TOTAL HOMES SOLD

199

191

+4.2%

MEDIAN SOLD PRICE

$390K

$341K

+14.4%

14

39

-64.1%

101%

98%

+3.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$410K

MEDIAN SOLD PRICE UP +6.5% from 2020

VANCOUVER

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

14 2021 Q1 SW WASHINGTON MARKET REPORT

$390K MEDIAN SOLD PRICE UP +14.4% from 2020

cowlitz county BEACON HILL

2021

2020

CHANGE

TOTAL HOMES SOLD

25

20

+25.0%

MEDIAN SOLD PRICE

$335K

$289K

+15.9%

24

29

-17.2%

101%

98%

+3.1%

2021

2020

CHANGE

TOTAL HOMES SOLD

14

12

+16.7%

MEDIAN SOLD PRICE

$382K

$258K

+48.1%

53

57

-7.0%

100%

95%

+5.3%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$335K

MEDIAN SOLD PRICE UP +15.9% from 2020

COLUMBIA HEIGHTS

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$382K

MEDIAN SOLD PRICE UP +48.1% from 2020

2021 Q1 SW WASHINGTON MARKET REPORT 15

cowlitz county EAST COUNTY

2021

2020

CHANGE

TOTAL HOMES SOLD

10

14

-28.6%

MEDIAN SOLD PRICE

$437K

$379K

+15.3%

36

42

-14.3%

100%

99%

+1.0%

2021

2020

CHANGE

TOTAL HOMES SOLD

38

47

-19.1%

MEDIAN SOLD PRICE

$380K

$325K

+16.9%

14

55

-74.5%

100%

99%

+1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$437K

MEDIAN SOLD PRICE UP +15.3% from 2020

KALAMA, SOUTH COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

16 2021 Q1 SW WASHINGTON MARKET REPORT

$380K

MEDIAN SOLD PRICE UP +16.9% from 2020

NORTHLAKE

2021

2020

CHANGE

TOTAL HOMES SOLD

6

10

-40.0%

MEDIAN SOLD PRICE

$301K

$294K

+2.4%

8

30

-73.3%

100%

98%

+2.0%

2021

2020

CHANGE

TOTAL HOMES SOLD

48

42

+14.3%

MEDIAN SOLD PRICE

$402K

$296K

+35.8%

22

63

-65.1%

102%

96%

+6.3%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$301K

MEDIAN SOLD PRICE UP +2.4% from 2020

NORTH COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$402K MEDIAN SOLD PRICE UP +35.8% from 2020

2021 Q1 SW WASHINGTON MARKET REPORT 17

cowlitz county NORTH KELSO

2021

2020

CHANGE

TOTAL HOMES SOLD

12

13

-7.7%

MEDIAN SOLD PRICE

$240K

$210K

+14.3%

22

39

-43.6%

101%

97%

+4.1%

2021

2020

CHANGE

TOTAL HOMES SOLD

19

17

+11.8%

MEDIAN SOLD PRICE

$270K

$265K

+1.9%

19

25

-24.0%

99%

98%

+1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$240K MEDIAN SOLD PRICE UP +14.3% from 2020

OLYMPIC

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

18 2021 Q1 SW WASHINGTON MARKET REPORT

$270K MEDIAN SOLD PRICE UP +1.9% from 2020

ST. HELENS

2021

2020

CHANGE

TOTAL HOMES SOLD

13

11

+18.2%

MEDIAN SOLD PRICE

$258K

$246K

+4.9%

25

40

-37.5%

104%

95%

+9.5%

2021

2020

CHANGE

TOTAL HOMES SOLD

14

10

+40.0%

MEDIAN SOLD PRICE

$413K

$340K

+21.5%

46

61

-24.6%

100%

98%

+2.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$258K

MEDIAN SOLD PRICE UP +4.9% from 2020

WEST COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$413K

MEDIAN SOLD PRICE UP +21.5% from 2020

2021 Q1 SW WASHINGTON 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.