Coldwell Banker Bain 2021 Annual Report | SW Washington

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

5

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.