SW WASHINGTON 2021 Annual MARKET REP ORT
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 34 offices and more than 1,300 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.
MIKE GRADY President & Chief Executive Officer of Coldwell Banker Bain “It’s been 20 months since this hyper-market started and, from a numbers perspective, no one predicted anything like what we experienced in 2021. We ended up increasing listings by 10%, closings by 8.5%, average sales price by 21.1% and ended the year surpassing $8 Billion in total closed volume. Looking ahead at 2022, the economic news continues to be positive: interest rates, net new job formations, migration patterns all good for the Pacific Northwest. The attitudes and moods of our business leaders is positive and upbeat. There are some concerns for 2022. The media recent focus on recent “inflationary” trends, the announced easing of mortgage-backed securities being purchased by the Federal Reserve’s lead one to be aware that home mortgage interest rates are very low today and might slightly increase in 2022. And we’re slightly concerned about a report from NAR that the percentage of first-time home buyers was below 30% in November. But we believe the positive economic news is significantly stronger and we remain bullish on 2022 and early 2023. Yes, inventory will be a continuing challenge and yes, home prices will continue to increase as the competition for inventory continues - but neither as concerning as 2021.”
2021 ANNUAL SW WASHINGTON MARKET REPORT
3
2021 ANNUAL MARKET REPORT
DAVID KNODE southwest regional manager of coldwell banker bain “In 2021, the real estate market in Clark and Cowlitz counties in Southwest Washington came in with a loud roar and ended on a bit of a muffled rumble. With a market no one could predict, prices and activity were all over the board. From a seller’s perspective, 2021 was a feeding frenzy. Median prices continued to rise through the year (17.6% in Clark County and 17.4% in Cowlitz), interest rates were at historical lows, there was a plethora of buyers looking in every price range and, to top it off, there were historically low inventory levels that continued to drop month over month. From a buyers’ perspective, it was and continues to be a challenge. We are still experiencing multiple offers many of which were over full price especially on listings under $400,000. We have noticed all of our agents working diligently for their buyers and have won many of those multiple offers. There was a fevered pitch to utilize those low interest rates. The market demanded quick action to secure a home. The number of days a home stayed on the market prior to receiving an offer dropped by 46.2% in Clark County and by a whopping 48.5% in Cowlitz County. The future economic forecast for Southwest Washington is still strong and our area continues to experience an influx of people all of whom need housing. We hope that 2022 will see an increase of available homes to purchase. However, our feeling is that this sellers’ market will sustain for some time.”
4 2021 ANNUAL 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
AVERAGE DOM
Fishers Landing
11
$498K
Camas
24
$650K
Washougal
22
$570K
HeightsCascade Park
16
$435K
Brush Prairie Hockinson
21
$630K
11
$565K
Orchards
20
$470K $100K
$200K
$300K
$400K
$500K
$600K
$700K
$800K
NUMBER OF SALES CLOSED
800
8,784
700 600
736
500
636
400 300 200
CLARK COUNTY SALES CLOSED
185
404
100
30
11
Brush Prairie
Hockinson
742
0
Fishers Landing
Camas
Washougal
HeightsCascade Park
INVENTORY IN UNITS / 12.31.21
Orchards
TOTAL CLARK COUNTY INVENTORY / 436
5000 4000
3
17
16
18
1
1
16
-40.0% 3000
-54.1%
-20.0%
-40.1%
+0.0%
+100%
-55.6%
2000 Fishers Landing
Camas
Washougal
HeightsCascade Park
Brush Prairie
Hockinson
Orchards
1000 0
2021 ANNUAL SW WASHINGTON 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
AVERAGE DOM
Ridgefield
28
$520K
Battleground
28
$490K
800
Woodland 700
15
$442K
600
La Center 500
$515K
27
$518K
18
Salmon 400 Creek 300
Felida 200
15
$538K
100
Vancouver
14
$449K
0
$100K
$200K
$300K
$400K
$500K
$600K
NUMBER OF SALES CLOSED 5000
8,784
4000 3000
CLARK COUNTY SALES CLOSED
2000
766
695
1000
89
113
Woodland
La Center
4364 629
610
Salmon Creek
Felida
0
Ridgefield
Battleground
INVENTORY IN UNITS / 12.31.21
Vancouver
TOTAL CLARK COUNTY INVENTORY / 436
40
51
3
4
15
7
81
-21.6%
+2.0%
-25.0%
-55.6%
-48.3%
-36.4%
-36.2%
Ridgefield
Battleground
Woodland
La Center
Salmon Creek
Felida
Vancouver
6 2021 ANNUAL SW WASHINGTON MARKET REPORT
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
14
$364K
Columbia Heights
22
$370K
East County
20
$530K
South County
16
$475K
Northlake
9
$345K
North County
23
$407K
North Kelso
12
$245K
Olympic
16
$320K
St. Helens
11
$284K
West County
22
$435K $100K
$200K
$300K
$400K
$500K
$600K
NUMBER OF SALES CLOSED 250
1,591
200
230
150
COWLITZ COUNTY SALES CLOSED
189 100
57 108
50
52
78
77
103
80
77
West County
St. Helens
0
Beacon Hill
Columbia Heights
East County
South County
Northlake
North County
INVENTORY IN UNITS / 12.31.21
North Kelso
Olympic
TOTAL COWLITZ COUNTY INVENTORY / 81
1
3
3
7
1
17
3
7
1
5
-50.0%
-25.0%
+300%
-47.1%
+0.0%
+41.7%
+200%
+75.0%
-50.0%
-28.6%
Beacon Hill
Columbia Heights
East County
South County
Northlake
North County
North Kelso
Olympic
West County
St. Helens
2021 ANNUAL SW WASHINGTON MARKET REPORT
7
clark county BATTLEGROUND
2021
2020
CHANGE
TOTAL HOMES SOLD
695
588
+18.2%
MEDIAN SOLD PRICE
$490K
$404K
+21.3%
28
39
-28.2%
101%
99%
+2.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
30
28
+7.1%
MEDIAN SOLD PRICE
$630K
$482K
+30.7%
21
35
-40.0%
101%
99%
+2.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$490K
MEDIAN SOLD PRICE UP +21.3% from 2020
BRUSH PRAIRIE
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
8 2021 ANNUAL SW WASHINGTON MARKET REPORT
$630K
MEDIAN SOLD PRICE UP +30.7% from 2020
CAMAS
2021
2020
CHANGE
TOTAL HOMES SOLD
736
753
-2.3%
MEDIAN SOLD PRICE
$650K
$550K
+17.1%
24
67
-64.2%
102%
99%
+3.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
610
574
+6.3%
MEDIAN SOLD PRICE
$538
$450K
+19.6%
15
29
-48.3%
102%
99%
+3.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$650K MEDIAN SOLD PRICE UP +17.1% from 2020
FELIDA
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$538K
MEDIAN SOLD PRICE UP +19.6% from 2020
2021 ANNUAL SW WASHINGTON MARKET REPORT
9
clark county FISHERS LANDING
2021
2020
CHANGE
TOTAL HOMES SOLD
185
201
-8.0%
MEDIAN SOLD PRICE
$498K
$410K
+21.5%
11
18
-38.9%
103%
100%
+3.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
636
615
+3.4%
MEDIAN SOLD PRICE
$435K
$380K
+14.5%
16
31
-48.4%
102%
98%
+4.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$498K
MEDIAN SOLD PRICE UP +21.5% from 2020
HEIGHTS-CASCADE PARK
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
10 2021 ANNUAL SW WASHINGTON MARKET REPORT
$435K
MEDIAN SOLD PRICE UP +14.5% from 2020
HOCKINSON
2021
2020
CHANGE
TOTAL HOMES SOLD
11
7
+57.1%
MEDIAN SOLD PRICE
$565K
$625K
-9.6%
11
140
-92.1%
86%
97%
-11.3%
2021
2020
CHANGE
TOTAL HOMES SOLD
113
163
-30.7%
MEDIAN SOLD PRICE
$515K
$432K
+25.6%
27
47
-42.6%
101%
100%
+1.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$565K
MEDIAN SOLD PRICE UP -9.6% from 2020
LA CENTER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$515K
MEDIAN SOLD PRICE UP +19.2% from 2020
2021 ANNUAL SW WASHINGTON MARKET REPORT 11
clark county ORCHARDS
2021
2020
CHANGE
TOTAL HOMES SOLD
742
636
+16.7%
MEDIAN SOLD PRICE
$470K
$400K
+17.5%
20
29
-31.0%
103%
100%
+3.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
766
584
+31.2%
MEDIAN SOLD PRICE
$520K
$447K
+16.3%
28
49
-42.9%
103%
100%
+3.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$470K
MEDIAN SOLD PRICE UP +17.5% from 2020
RIDGEFIELD
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
12 2021 ANNUAL SW WASHINGTON MARKET REPORT
$520K MEDIAN SOLD PRICE UP +16.3% from 2020
SALMON CREEK
2021
2020
CHANGE
TOTAL HOMES SOLD
629
674
-6.7%
MEDIAN SOLD PRICE
$518K
$430K
+20.5%
18
40
-55.0%
102%
100%
+2.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
4,364
4,136
+5.5%
MEDIAN SOLD PRICE
$449K
$385K
+16.6%
14
27
-48.1%
102%
100%
+2.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$518K
MEDIAN SOLD PRICE UP +20.5% from 2020
VANCOUVER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$449K
MEDIAN SOLD PRICE UP +16.6% from 2020
2021 ANNUAL SW WASHINGTON MARKET REPORT 13
clark county WASHOUGAL
2021
2020
CHANGE
TOTAL HOMES SOLD
404
369
+9.5%
MEDIAN SOLD PRICE
$570K
$475K
+20.0%
22
36
-38.9%
100%
98%
+2.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
89
102
-12.7%
MEDIAN SOLD PRICE
$442K
$370K
+19.5%
15
27
-44.4%
102%
99%
+3.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$570K
MEDIAN SOLD PRICE UP +20.0% from 2020
WOODLAND
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
14 2021 ANNUAL SW WASHINGTON MARKET REPORT
$442K
MEDIAN SOLD PRICE UP +19.5% from 2020
cowlitz county BEACON HILL
2021
2020
CHANGE
TOTAL HOMES SOLD
108
94
+14.9%
MEDIAN SOLD PRICE
$364K
$297K
+22.6%
14
14
+0.0%
101%
101%
+0.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
78
62
+25.8%
MEDIAN SOLD PRICE
$370K
$330K
+12.1%
22
31
-29.0%
101%
98%
+3.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$364K
MEDIAN SOLD PRICE UP +22.6% from 2020
COLUMBIA HEIGHTS
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$370K
MEDIAN SOLD PRICE UP +12.1% from 2020
2021 ANNUAL SW WASHINGTON MARKET REPORT 15
cowlitz county EAST COUNTY
2021
2020
CHANGE
TOTAL HOMES SOLD
57
63
-9.5%
MEDIAN SOLD PRICE
$530K
$415K
+27.7%
20
45
-55.6%
100%
99%
+1.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
189
201
-6.0%
MEDIAN SOLD PRICE
$475K
$380K
+11.0%
16
49
-67.3%
100%
99%
+1.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$530K
MEDIAN SOLD PRICE UP +27.7% from 2020
KALAMA, SOUTH COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
16 2021 ANNUAL SW WASHINGTON MARKET REPORT
$475K
MEDIAN SOLD PRICE UP +25.0% from 2020
NORTHLAKE
2021
2020
CHANGE
TOTAL HOMES SOLD
52
42
+23.8%
MEDIAN SOLD PRICE
$345K
$295K
+16.9%
9
23
-60.9%
101%
100%
+1.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
230
220
+4.5%
MEDIAN SOLD PRICE
$407K
$329K
+24.5%
23
53
-56.6%
100%
98%
+3.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$345K
MEDIAN SOLD PRICE UP +16.9% from 2020
NORTH COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$407K MEDIAN SOLD PRICE UP +23.7% from 2020
2021 ANNUAL SW WASHINGTON MARKET REPORT 17
cowlitz county NORTH KELSO
2021
2020
CHANGE
TOTAL HOMES SOLD
77
69
-53.8%
MEDIAN SOLD PRICE
$254K
$240K
+5.8%
15
18
-16.7%
100%
99%
+1.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
103
91
+13.2%
MEDIAN SOLD PRICE
$320K
$265K
+20.8%
16
16
+0.0%
101%
101%
+0.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$254K
MEDIAN SOLD PRICE UP +5.8% from 2020
OLYMPIC
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
18 2021 ANNUAL SW WASHINGTON MARKET REPORT
$320K
MEDIAN SOLD PRICE UP +20.8% from 2020
ST. HELENS
2021
2020
CHANGE
TOTAL HOMES SOLD
80
70
+14.3%
MEDIAN SOLD PRICE
$284K
$251K
+13.1%
11
16
-31.3%
102%
101%
+1.0%
2021
2020
CHANGE
TOTAL HOMES SOLD
77
64
+20.3%
MEDIAN SOLD PRICE
$435K
$350K
+24.3%
22
31
-29.0%
101%
98%
+3.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$284K
MEDIAN SOLD PRICE UP +13.1% from 2020
WEST COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$435K
MEDIAN SOLD PRICE UP +24.3% from 2020
2021 ANNUAL 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.