SW WASHINGTON 2021 Q1 MARKET REPORT
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 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.