SW WASHINGTON 2021 Q2 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 1,300 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.
JOHN DEELY executive VP of Operations Reflecting on the second-quarter numbers, John Deely, Coldwell Banker Bain Executive Vice President of Operations, said, “We continue on a trajectory that will keep the Puget Sound region at the top of national lists for one of the hottest housing markets. Prices continue their climb with double digit increases in most of our markets, and inventory on hand at about two weeks in the larger areas. While we’re experiencing a bit of moderating activity in June, rather than that being an indication of a flattening of the market, we believe this is a result of our extreme heat events, a typical summer slowdown as schools let out and people start vacationing, and this year, the reopening of the country and discontinuation of COVID restrictions. The dramatic increase in prices and low inventory just continues in such a way that although we have more inventory coming on the market, it is immediately absorbed because of a demand that simply cannot be met. Affordability, especially for first-time homebuyers, continues to be a concern, and given indications from tech companies like Amazon and Microsoft to leasing large office spaces and hiring thousands of employees going forward in our region, drawing people from higher-priced markets like Silicon Valley who have a lot of money to spend, we don’t see much change in this scenario for buyers in the short term. Additionally, with national data of new household formations showing a shortage of more than 500,000 new homes per year for the entire decade, we have a nationwide shortfall of five million new homes. Without regulatory changes, we will not be able to quickly build our way out of this kind of shortfall. It’s a situation major cities and regions across the country will need to address going forward to ensure availability and affordability of homes.”
2021 Q2 SW WASHINGTON MARKET REPORT
3
Q2 2021 MARKET REPORT
DAVID KNODE southwest regional manager of coldwell banker bain Said David Knode, Southwest Regional Manager, “Even in the middle of the pandemic last year we were still listing and selling properties here in Southwest Washington. We found out that we have very resilient buyers, sellers and brokers. Buyers want to buy and sellers want to sell and our brokers helped with those goals. We found a way to take care of our buyers and sellers and get things done. The second quarter of 2021 was no different, the story is about the same: Very low inventory, double digit percentage price increases and the amount of time a house is on the market has fallen dramatically compared to the same time in 2020. Buyers in this market are getting as creative as they possibly can to ‘win the deal.’ Offers often have a clause that affirms that a buyer will pay more for what the house actually appraises. Another trend is buyers waiving their inspection contingencies to make their offer more attractive. These techniques are very risky for buyers to say the least.”
4 2021 Q2 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
5
$490K
Camas
17
$630K
Washougal
16
$545K
HeightsCascade Park
8
$474K
Brush Prairie Hockinson
19
$536K
16
$549K
Orchards
8
$410K $100K
$200K
$300K
$400K
$500K
$600K
$700K
$800K
NUMBER OF SALES CLOSED
400
2,268
350
CLARK COUNTY SALES CLOSED
395
300 250
330
200 150 100
48
210
Fishers Landing
Camas
92
98
232
50 0
Washougal
HeightsCascade Park
INVENTORY IN UNITS / 06.30.21
Brush Prairie
Hockinson
Orchards
TOTAL CLARK COUNTY INVENTORY / 436
300 250
7
40
28
19
64
56
39
200 -56.2%
-67.2%
-37.8%
-36.7%
-67.5%
-60.6%
-35.0%
Camas
Washougal
HeightsCascade Park
Brush Prairie
Hockinson
Orchards
150
Fishers 100 Landing 50 0
2021 Q2 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
$500K
25
Battleground
$500K
14
400
Woodland 350
10
$573K
300 La Center
28
$663K
250
Salmon 200 Creek
12
$562K
150
Felida
13
$623K
100
50 Vancouver
11
$415K
0
$100K
$200K
$300K
$400K
$500K
$600K
$700K
$800K
NUMBER OF SALES CLOSED 300
2,268
250 200
CLARK COUNTY SALES CLOSED
251
150
193
100
182
40
50
262 90
10
0
Ridgefield
Battleground
Woodland
La Center
INVENTORY IN UNITS / 06.30.21
Salmon Creek
Felida
Vancouver
TOTAL CLARK COUNTY INVENTORY / 436
52
79
14
6
29
12
35
-70.6%
-27.5%
-17.6%
+100%
-55.4%
-61.3%
-35.2%
Ridgefield
Battleground
Woodland
La Center
Salmon Creek
Felida
Vancouver
6 2021 Q2 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 (NEAREST $000)
AVERAGE DOM
Beacon Hill
10
$385K
Columbia Heights
7
$370K
East County
22
$446K
South County
9
$513K
Northlake
5
$328K
North County
14
$440K
North Kelso
6
$270K
Olympic
13
$331K
West County
27
$450K
St. Helens
7
$285K $100K
$200K
$300K
$400K
$500K
$600K
NUMBER OF SALES CLOSED 60
385
50
53
COWLITZ COUNTY SALES CLOSED
40 30
39
20
23
10
19
16
13
0
Beacon Hill
Columbia Heights
East County
South County
Northlake
INVENTORY IN UNITS / 06.30.21
North County
21
26
North Kelso
Olympic
19
19
West County
St. Helens
TOTAL COWLITZ COUNTY INVENTORY / 102
4
6
4
11
3
17
4
6
8
5
0.0%
+20.0%
0.0%
-26.7%
+50.0%
-37.0%
-50.0%
0.0%
+33.3%
+66.7%
Beacon Hill
Columbia Heights
East County
South County
Northlake
North County
North Kelso
Olympic
West County
St. Helens
2021 Q2 SW WASHINGTON MARKET REPORT
7
clark county BATTLEGROUND
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
193
178
+8.4%
MEDIAN SOLD PRICE
$500K
$400K
+25.0%
14
41
-65.9%
102%
99%
+3.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
330
209
+57.9%
MEDIAN SOLD PRICE
$536K
$442K
+21.3%
19
39
-51.3%
103%
99%
+4.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$500K
MEDIAN SOLD PRICE UP +25.0% from 2020
BRUSH PRAIRIE
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
8 2021 Q2 SW WASHINGTON MARKET REPORT
$536K
MEDIAN SOLD PRICE UP +21.3% from 2020
CAMAS
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
210
144
+45.8%
MEDIAN SOLD PRICE
$630K
$517K
+21.9%
17
62
-72.6%
104%
98%
+6.1%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
90
50
+80.0%
MEDIAN SOLD PRICE
$623K
$490K
+27.1%
13
21
-38.1%
105%
99%
+6.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$630K
MEDIAN SOLD PRICE UP +21.9% from 2020
FELIDA
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$623K
MEDIAN SOLD PRICE UP +27.1% from 2020
2021 Q2 SW WASHINGTON MARKET REPORT
9
clark county FISHERS LANDING
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
48
49
-2.0%
MEDIAN SOLD PRICE
$490K
$393K
+24.7%
5
14
-64.3%
103%
100%
+3.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
92
76
+21.1%
MEDIAN SOLD PRICE
$474K
$383K
+23.8%
8
40
-80.0%
104%
98%
+6.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$490K
MEDIAN SOLD PRICE UP +24.7% from 2020
HEIGHTS-CASCADE PARK
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
10 2021 Q2 SW WASHINGTON MARKET REPORT
$474K
MEDIAN SOLD PRICE UP +23.8% from 2020
HOCKINSON
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
232
154
+50.6%
MEDIAN SOLD PRICE
$549K
$448K
+22.5%
16
41
-61.0%
102%
99%
+3.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
10
4
+150.0%
MEDIAN SOLD PRICE
$663K
$540K
+22.8%
28
51
-45.1%
99%
98%
+1.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$549K
MEDIAN SOLD PRICE UP +22.5% from 2020
LA CENTER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$663K
MEDIAN SOLD PRICE UP +22.8% from 2020
2021 Q2 SW WASHINGTON MARKET REPORT 11
clark county ORCHARDS
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
395
320
+23.4%
MEDIAN SOLD PRICE
$410K
$349K
+17.5%
8
19
-57.9%
105%
100%
+5.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
251
135
+85.9%
MEDIAN SOLD PRICE
$500K
$464K
+7.8%
25
45
-44.4%
102%
99%
+3.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$410K
MEDIAN SOLD PRICE UP +17.5% from 2020
RIDGEFIELD
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
12 2021 Q2 SW WASHINGTON MARKET REPORT
$500K
MEDIAN SOLD PRICE UP +7.8% from 2020
SALMON CREEK
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
182
159
+14.5%
MEDIAN SOLD PRICE
$562K
$420K
+33.8%
12
41
-70.7%
103%
99%
+4.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
98
70
+40.0%
MEDIAN SOLD PRICE
$545K
$453K
+20.3%
16
33
-51.5%
103%
98%
+5.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$562K
MEDIAN SOLD PRICE UP +33.8% from 2020
WASHOUGAL
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$545K
MEDIAN SOLD PRICE UP +20.3% from 2020
2021 Q2 SW WASHINGTON MARKET REPORT 13
clark county WOODLAND
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
40
30
+33.3%
MEDIAN SOLD PRICE
$573K
$396K
+44.7%
10
42
-76.2%
101%
98%
+3.1%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
262
207
+26.6%
MEDIAN SOLD PRICE
$415K
$355K
+16.9%
11
30
+63.3%
104%
100%
+4.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$573K
MEDIAN SOLD PRICE UP +44.7% from 2020
VANCOUVER
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
14 2021 Q2 SW WASHINGTON MARKET REPORT
$415K
MEDIAN SOLD PRICE UP +16.9% from 2020
cowlitz county BEACON HILL
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
23
16
+43.8%
MEDIAN SOLD PRICE
$385K
$268K
+43.7%
10
9
+11.1%
102%
102%
+0.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
19
17
+11.8%
MEDIAN SOLD PRICE
$370K
$305K
+21.3%
7
25
-72.0%
103%
100%
+3.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$385K
MEDIAN SOLD PRICE UP +43.7% from 2020
COLUMBIA HEIGHTS
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$370K
MEDIAN SOLD PRICE UP +21.3% from 2020
2021 Q1 SW WASHINGTON MARKET REPORT 15
cowlitz county EAST COUNTY
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
16
23
-30.4%
MEDIAN SOLD PRICE
$446K
$415K
+7.5%
22
59
-62.7%
99%
99%
+0.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
39
31
+25.8%
MEDIAN SOLD PRICE
$513K
$360K
+42.5%
9
46
-80.4%
101%
98%
+3.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$446K MEDIAN SOLD PRICE UP +7.5% from 2020
KALAMA, SOUTH COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
16 2021 Q2 SW WASHINGTON MARKET REPORT
$513K
MEDIAN SOLD PRICE UP +42.5% from 2020
NORTHLAKE
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
13
4
+225.0%
MEDIAN SOLD PRICE
$328K
$274K
+19.7%
5
15
-66.7%
104%
99%
+5.1%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
53
51
+3.9%
MEDIAN SOLD PRICE
$440K
$320K
+37.5%
14
67
-79.1%
103%
98%
+5.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$328K
MEDIAN SOLD PRICE UP +19.7% from 2020
NORTH COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$440K MEDIAN SOLD PRICE UP +37.5% from 2020
2021 Q2 SW WASHINGTON MARKET REPORT 17
cowlitz county NORTH KELSO
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
21
16
+31.3%
MEDIAN SOLD PRICE
$270K
$223K
+21.1%
6
28
-78.6%
103%
99%
+4.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
26
28
-7.1%
MEDIAN SOLD PRICE
$331K
$254K
+30.3%
13
16
-18.7%
102%
100%
+2.0%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$270K
MEDIAN SOLD PRICE UP +21.1% from 2020
OLYMPIC
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
18 2021 Q2 SW WASHINGTON MARKET REPORT
$331K
MEDIAN SOLD PRICE UP +30.3% from 2020
ST. HELENS
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
19
17
+11.8%
MEDIAN SOLD PRICE
$285K
$255K
+11.8%
7
10
-30.0%
104%
101%
+3.0%
Q2 2021
Q2 2020
CHANGE
TOTAL HOMES SOLD
19
12
+58.3%
MEDIAN SOLD PRICE
$450K
$338K
+33.1%
27
44
-38.6%
103%
98%
+5.1%
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$285K
MEDIAN SOLD PRICE UP +11.8% from 2020
WEST COUNTY
AVERAGE DAYS ON MARKET SOLD/LIST PRICE%
$450K MEDIAN SOLD PRICE UP +33.1% from 2020
2021 Q2 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.