LUXURY MARKET T R E N D S
Luxury Lifestyle
MEETS
Happy Spring! In addition to the longer days, this is one of my favorite times of year because the luxury market comes back strong in spring! Just like the daffodils, more new listings are popping up. In real estate, and especially for luxury properties, it’s all about the new listing. During the winter months of November through February, we see few luxury properties come on the market. The pattern we witnessed for the winter luxury market was consistent with the anticipated phases of the annual housing cycle: more sales than new listings and reduced inventory. This caused a home price appreciation boost during the first part of the year, which is especially pronounced in the high-end market close to job centers. Over the second half of the year, as more listings come on the market, home price appreciation tends to flatten out. The pressure cooker continues for the backlog of buyers searching for an Exceptional Home. With extremely strong regional job growth in the 3%+ range and interest rates going higher since the first of the year, we’re seeing an additional mini power surge of buyer demand, which is creating a more intense luxury housing market. As always, the best time to buy or sell is when it is right for you. Meeting your needs and working on your timeline with a full suite of luxury marketing support are just of few of the many advantages of John L. Scott’s personal approach to representation. On behalf of the Exceptional Homes team, we’ll do everything in our power to ensure you have an exceptional client experience. I invite you to view all luxury property listings from all companies on JohnLScott.com
J. Lennox Scott Chairman and CEO John L. Scott Real Estate
G LOBAL NE T W ORK John L. Scott is a founding member of the international organization Leading Real Estate Companies of the World. Together, we outrank all other companies in home sales by volume and through their luxury division, Luxury Portfolio International, we connect affluent buyers and sellers around the world. This exclusive network provides national and international exposure for your home. Only a few companies can provide this level of global exposure and only the top companies can earn membership in this network.
John L. Scott & Leading RE Sold $62 Billion More Homes I N 2 0 1 6 T H A N O U R C LO S E S T C O M P E T I TO R Source: LeadingRE
LUXURY MARKET T R E N D S
FIRST QUARTER HIGHLIGHTS
+34.7% Total Dollar Volume
Seattle
439 Average Days on Market East Portland
Number of Sales Eastside
-12.8%
Number of Sales
+114.3%
Kootenai County
+39.1%
Total Dollar Volume Spokane County
On the cover: Pending $2,488,800 | Seattle, WA | johnlscott.com/76775
+102.7% Number of Sales Snohomish County
Average Days on Market Jackson County
-23.4%
2018 Q1 Luxury Market Trends
Seat tle
Pending | johnlscott.com/16736
Q1 2018
Q1 2017
% Change
Number of Sales
283
207
36.70%
Total Dollar Volume
$413,834,438
$307,264,704
34.70%
Average Sales Price
$1,462,313
$1,484,371
-1.50%
Median Sales Price
$1,280,000
$1,320,000
-3.00%
Average Days on Market
32
35
-8.60%
Sold / List Price %
102.60%
102.40%
0.20%
Average Price per SQFT
$485
$471
3.00%
Quarter-end inventory
184
170
8.20%
Offered at $1,350,000 | johnlscott.com/16531
The data is for single family residences over $1M in MLS areas 140, 380, 390, 700, 710. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
West Be l l e v ue
Offered at $2,880,000 | johnlscott.com/36092
Q1 2018
Q1 2017
% Change
Number of Sales
70
64
9.40%
Total Dollar Volume
$202,039,347
$154,191,699
31.00%
Average Sales Price
$2,886,276
$2,409,245
19.80%
Median Sales Price
$2,517,500
$2,229,000
12.90%
Average Days on Market
32
45
-28.90%
Sold / List Price %
99.10%
98.10%
1.10%
Average Price per SQFT
$746
$607
22.90%
Quarter-end inventory
68
78
-12.80% Pending | johnlscott.com/50510
The data is for single family residences over $1M in MLS area 520. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Mer cer I sl a nd
Sold at $1,750,000
Q1 2018
Q1 2017
% Change
Number of Sales
57
47
21.30%
Total Dollar Volume
$113,731,672
$107,055,106
6.20%
Average Sales Price
$1,995,292
$2,277,768
-12.40%
Median Sales Price
$1,630,000
$1,725,000
-5.50%
Average Days on Market
41
50
-18.00%
Sold / List Price %
100.40%
97.60%
2.90%
Average Price per SQFT
$585
$587
-0.30%
Quarter-end inventory
51
53
-3.77%
Offered at $1,399,000 | johnlscott.com/12293
The data is for single family residences over $1M in MLS area 510. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Ea stside
Offered at $2,545,000 | johnlscott.com/17248
Q1 2018
Q1 2017
% Change
Number of Sales
439
338
29.90%
Total Dollar Volume
$623,997,529
$461,197,070
35.30%
Average Sales Price
$1,421,407
$1,364,488
4.20%
Median Sales Price
$1,285,000
$1,227,475
4.70%
Average Days on Market
37
43
-14.00%
Sold / List Price %
101.50%
101.10%
0.40%
Average Price per SQFT
$399
$362
10.30%
Quarter-end inventory
286
405
-29.38%
Offered at $2,250,000 | johnlscott.com/20868
The data is for single family residences over $1M in MLS areas 500, 530, 540, 550, 560, 600. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
K ing Cou nt y Cond o
Offered at $1,010,000 | johnlscott.com/48783
Q1 2018
Q1 2017
% Change
Number of Sales
87
74
17.60%
Total Dollar Volume
$137,570,467
$114,762,808
19.90%
Average Sales Price
$1,581,270
$1,550,849
2.00%
Median Sales Price
$1,379,950
$1,317,500
4.70%
Average Days on Market
41
105
-61.00%
Sold / List Price %
99.80%
97.30%
2.50%
Average Price per SQFT
$732
$735
-0.40%
Quarter-end inventory
92
68
35.29%
Sold at $1,324,688
This data is for condos over $1M in King County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Bainbr idg e I sl a nd
Pending | johnlscott.com/28588
Q1 2018
Q1 2017
% Change
Number of Sales
28
16
75.00%
Total Dollar Volume
$41,573,500
$21,513,658
93.20%
Average Sales Price
$1,484,768
$1,344,604
10.40%
Median Sales Price
$1,186,000
$1,202,500
-1.40%
Average Days on Market
59
68
-13.20%
Sold / List Price %
96.90%
97.20%
-0.30%
Average Price per SQFT
$431
$393
9.70%
Quarter-end inventory
19
34
-44.10%
Pending | johnlscott.com/28588
The data is for single family residences over $1M in MLS area 170. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Ki tsa p Co un t y
Pending | johnlscott.com/41083
Q1 2018
Q1 2017
% Change
Number of Sales
63
38
65.80%
Total Dollar Volume
$73,738,725
$40,685,903
81.20%
Average Sales Price
$1,170,456
$1,070,682
9.30%
Median Sales Price
$979,000
$967,475
1.20%
Average Days on Market
70
68
2.90%
Sold / List Price %
96.00%
97.80%
-1.80%
Average Price per SQFT
$367
$340
8.00%
Quarter-end inventory
69
108
-36.11%
Offered at $899,950 | johnlscott.com/45614
This data is for single family residences over $750K in Kitsap County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
WAT ER FR ONT Lake Washington
Q1 2018
Q1 2017
% Change
Number of Sales
12
16
-25.00%
Total Dollar Volume
$62,239,200
$70,567,500
-11.80%
Average Sales Price
$5,186,600
$4,410,469
17.60%
Median Sales Price
$2,870,000
$3,560,000
-19.40%
Average Days on Market
27
144
-81.30%
Sold / List Price %
96.70%
93.70%
3.20%
Average Price per SQFT
$1,263
$851
48.40%
Quarter-end inventory
30
50
-40.0%
Sold at $2,560,000
Sold at $1,029,000
Sold on Lake W
Washington
2018 Q1 Luxury Market Trends
Lake Sammamish
Sold at $1,029,000
Q1 2017
% Change
Number of Sales
7
4
75.00%
Total Dollar Volume
$16,150,000
$11,000,000
46.80%
Average Sales Price
$2,307,143
$2,750,000
-16.10%
Median Sales Price
$2,260,000
$2,800,000
-19.30%
Average Days on Market
46
87
-47.10%
Sold / List Price %
97.20%
92.10%
5.50%
Average Price per SQFT
$597
$738
-19.10%
Quarter-end inventory
15
14
7.14%
King County
Offered at $2,350,000 | johnlscott.com/26404
Q1 2018
Q1 2018
Q1 2017
% Change
Number of Sales
38
44
-13.60%
Total Dollar Volume
$114,377,900
$131,840,700
-13.20%
Average Sales Price
$3,009,945
$2,996,380
0.50%
Median Sales Price
$1,875,000
$2,300,000
-18.50%
Average Days on Market
49
116
-57.80%
Sold / List Price %
96.10%
94.50%
1.70%
Average Price per SQFT
$782
$658
18.90%
Quarter-end inventory
100
127
-21.25%
The data is for waterfront single family residences and condos over $1M. Lake Washington is MLS areas 510, 520, 380, 390, 710. Lake Sammamish is MLS areas 530, 540. Some John L. Scott offices are independently owned and operated.
All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Pier ce Co unt y
Offered at $1,590,000 | johnlscott.com/38699
Q1 2018
Q1 2017
% Change
Number of Sales
82
34
141.20%
Total Dollar Volume
$79,895,728
$33,279,215
140.10%
Average Sales Price
$974,338
$978,800
-0.50%
Median Sales Price
$877,475
$945,500
-7.20%
Average Days on Market
111
142
-21.80%
Sold / List Price %
97.30%
95.70%
1.80%
Average Price per SQFT
$232
$234
-0.90%
Quarter-end inventory
188
194
-3.10%
Pending | MLS# 1245561
This data is for single family residences over $750K in Pierce County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
South King Co unt y
Offered at $1,680,000 | johnlscott.com/26591
Q1 2018
Q1 2017
% Change
Number of Sales
85
46
84.80%
Total Dollar Volume
$80,535,086
$51,699,069
55.80%
Average Sales Price
$947,472
$1,123,893
-15.70%
Median Sales Price
$880,000
$950,665
-7.40%
Average Days on Market
91
113
-19.50%
Sold / List Price %
97.60%
96.90%
0.80%
Average Price per SQFT
$255
$273
-6.40%
Quarter-end inventory
98
124
-20.96%
Pending | johnlscott.com/24153
This data is for single family residences over $750K in MLS Areas 100, 110, 120, 130, 300, 310, 320, 330, 340, 350, 360. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
S nohomish Count y
Offered at $1,080,000 | johnlscott.com/10938
Q1 2018
Q1 2017
% Change
Number of Sales
229
113
102.70%
Total Dollar Volume
$212,127,693
$111,337,128
90.50%
Average Sales Price
$926,322
$985,284
-6.00%
Median Sales Price
$840,000
$878,750
-4.40%
Average Days on Market
48
66
-27.30%
Sold / List Price %
100.50%
99.10%
1.30%
Average Price per SQFT
$275
$261
5.50%
Quarter-end inventory
166
162
2.47%
Offered at $1,080,000 | johnlscott.com/10938
This data is for single family residences over $750K in Snohomish County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Isl and Co u n t y
Offered at $1,750,000 | johnlscott.com/52828
Q1 2018
Q1 2017
% Change
Number of Sales
17
18
-5.60%
Total Dollar Volume
$16,117,133
$20,277,000
-20.50%
Average Sales Price
$948,067
$1,126,500
-15.80%
Median Sales Price
$855,000
$860,000
-0.60%
Average Days on Market
88
230
-61.70%
Sold / List Price %
97.90%
95.40%
2.60%
Average Price per SQFT
$356
$331
7.50%
Quarter-end inventory
53
65
-18.46%
Offered at $2,900,000 | johnlscott.com/27786
This data is for single family residences over $750K in Island County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Spoka ne Co unt y
Offered at $1,250,000 | johnlscott.com/17375
Q1 2018
Q1 2017
% Change
Number of Sales
9
7
28.60%
Total Dollar Volume
$8,505,000
$6,112,500
39.10%
Average Sales Price
$945,000
$873,214
8.20%
Median Sales Price
$890,000
$864,000
3.00%
Average Days on Market
86
68
26.50%
Sold / List Price %
93.80%
95.40%
-1.60%
Average Price per SQFT
$188
$180
4.90%
Quarter-end inventory
80
70
14.29%
Offered at $1,495,000 | johnlscott.com/32200
This data is for single family residences over $750K in Spokane County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
K ootenai Co unt y
Offered at $1,600,000 | johnlscott.com/47561
Q1 2018
Q1 2017
% Change
Number of Sales
30
14
114.30%
Total Dollar Volume
$34,390,851
$16,852,500
104.10%
Average Sales Price
$1,146,362
$1,203,750
-4.80%
Median Sales Price
$861,140
$1,012,500
-14.90%
Average Days on Market
139
143
-2.80%
Sold / List Price %
94.20%
92.70%
1.60%
Average Price per SQFT
$285
$283
0.80%
Quarter-end inventory
239
236
1.27%
Offered at $1,295,000 | johnlscott.com/24359
This data is for single family residences over $750K in Kootenai County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Cl a r k Co un t y
Offered at $895,000 | johnlscott.com/37398
Q1 2018
Q1 2017
% Change
Number of Sales
38
42
-9.50%
Total Dollar Volume
$42,084,644
$41,732,900
0.80%
Average Sales Price
$1,107,491
$993,640
11.50%
Median Sales Price
$875,000
$874,397
0.10%
Average Days on Market
102
118
-13.60%
Sold / List Price %
97.80%
97.30%
0.60%
Average Price per SQFT
$230
$221
4.20%
Quarter-end inventory
178
148
20.27%
Offered at $12,000,000 | johnlscott.com/74368
This data is for single family residences over $750K in Clark County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Ea st P ortl a nd
Offered at $2,195,000 | johnlscott.com/71736
Q1 2018
Q1 2017
% Change
Number of Sales
110
122
-9.80%
Total Dollar Volume
$164,819,090
$188,077,619
-12.40%
Average Sales Price
$1,498,355
$1,541,620
-2.80%
Median Sales Price
$1,216,250
$1,267,500
-4.00%
Average Days on Market
82
94
-12.80%
Sold / List Price %
95.20%
95.80%
-0.60%
Average Price per SQFT
$353
$344
2.90%
Quarter-end inventory
358
299
19.73%
Offered at $1,200,000 | johnlscott.com/26651
This data is for single family residences over $1M in Clackamas and Multnomah Counties. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Wes t Portl a nd
Offered at $979,000 | johnlscott.com/26595
Q1 2018
Q1 2017
% Change
Number of Sales
17
18
-5.60%
Total Dollar Volume
$25,544,644
$26,150,000
-2.30%
Average Sales Price
$1,502,626
$1,452,778
3.40%
Median Sales Price
$1,500,000
$1,211,250
23.80%
Average Days on Market
101
76
32.90%
Sold / List Price %
93.60%
95.90%
-2.40%
Average Price per SQFT
$343
$301
13.90%
Quarter-end inventory
78
63
23.80%
Offered at $1,200,000 | johnlscott.com/37523
This data is for single family residences over $1M in Columbia and Washington Counties. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
Bend
Offered at $3,500,000 | johnlscott.com/20667
Q1 2018
Q1 2017
% Change
Number of Sales
61
33
84.80%
Total Dollar Volume
$72,725,941
$40,828,400
78.10%
Average Sales Price
$1,192,229
$1,237,224
-3.60%
Median Sales Price
$1,110,000
$1,050,000
5.70%
Average Days on Market
134
153
-12.40%
Sold / List Price %
96.80%
95.70%
1.20%
Average Price per SQFT
$305
$296
3.20%
Quarter-end inventory
252
195
29.23%
Offered at $949,000 | johnlscott.com/32046
This data is for single family residences over $900K in Bend, OR. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2018 Q1 Luxury Market Trends
J a ck son Co un t y
Offered at $1,195,000 | johnlscott.com/46936
Q1 2018
Q1 2017
% Change
Number of Sales
7
8
-12.50%
Total Dollar Volume
$7,960,000
$8,423,000
-5.50%
Average Sales Price
$1,137,143
$1,052,875
8.00%
Median Sales Price
$1,135,000
$990,000
14.60%
Average Days on Market
108
141
-23.40%
Sold / List Price %
92.60%
94.70%
-2.20%
Average Price per SQFT
$307
$257
19.60%
Quarter-end inventory
157
77
103.89%
Sold for $1,700,000
This data is for single family residences over $900K in Jackson County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
Luxury Lifestyle
MEETS
GLOBAL MARKETING:
EVERY PROPERTY. EVERY DAY.
BENAHAVIS, SPAIN | €7,750,000 | WEB ID: YAYZ
I N T E R N A T I O N A L
LUGANO, SWITZERLAND PRICE UPON REQUEST WEB ID: GOWV
Luxury Portfolio International,® is part of an exclusive global network that: • Sells more U.S. homes than any network or franchise • Represents • Reaches
more $1M+ homes than any luxury network
200 countries/territories around the world
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