LUXURY MARKET TRENDS
HAPPY SPRING! The prime-time season for the luxury market is here! This season, which runs through September, will bring buyer demand along with additional luxury listings. Spring is a great time to showcase your home if you’re looking to sell, and buyers today can lock in great interest rates before they go higher. Our Exceptional Homes by John L. Scott brokers can help you no matter your individual situation, bringing proven strategies and industry know-how to each transaction. We hope our Luxury Market Trends report provides you insight and inspiration this spring!
J. Lennox Scott Chairman and CEO John L. Scott Real Estate
EX C EPTIONAL HOMES BY JOHN L. SCOT T Exceptional Homes is John L. Scott’s luxury real estate brand. Together with our luxury broker associates, our global partners at Luxury Portfolio International, and our support staff, we strive to provide concierge-level service by putting clients first. We can ensure you that we are here for you and your family. The real estate market is fast-paced and ever changing, but what hasn’t changed, is our commitment to exceed your expectations when you are ready to buy or sell your home.
ON THE COVER: OFFERED AT $4,800,000 | JOHNLSCOTT.COM/57457 ON THE RIGHT: OFFERED AT $5,300,000 | JOHNLSCOTT.COM/33950
Luxury
L I V E YO U R
WE ARE GLOBAL John L. Scott is a founding member of the international organization Leading Real Estate Companies of the World®.
Founded in 1931, JLS operates over 100 offices with over 3,000 agents throughout WA, OR, ID & CA
John L. Scott’s luxury brand, providing our agents with tools and data to help each and every client live their luxury
A global community of over 565 real estate companies awarded membership based on rigorous standards for service and performance
The luxury division of LeadingRE & the largest global network of the most powerful, independent luxury firms
BY T H E N U M B E R S
4,600
Member Firms
550 80%
Total Inventory
$58
BILLION
of applicants to this network are turned down
Offices Worldwide
MORE U.S. HOME SALES VOLUME
THAN ANY OTHER REAL ESTATE NETWORK, FRANCHISE OR BROKERAGE BRAND. $296 BILLION IN U.S. HOME SALES VOLUME.
Average Property
Associates Worldwide
6
130,000
Continents with Member Companies
$2.6
MILLION
Curious about luxury trends in your neighborhood? See what some of our real estate specialists had to say about the luxury market in their area.
DAN WINGARD
On the Eastside we are still seeing a severe shortage of luxury inventory which has been less than a one-month supply since June of last year and now is at approximately half a month. That means we’d be sold out in that amount of time at this pace if no
DANIEL E SN O W A N D NICOLE FITCH
With the uncertainties in our world and interest rates climbing, the market in our over 1$ million range doesn’t seem to be too drastically
quarter showed that about 90% of
only, knowing there were 5 more
days, with most of those sold within
the 2$ million to 7$ million range, homes are lingering on the market
median price saw an astronomical annual increase of close to 25%.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
PUGET SOUND
202 2 Q1 LU X U R Y M A R K E T T R E N D S
FIRST QUARTER
HIGHLIGHTS
S O L D | J O H N L S C OT T. C O M /30538
Spring is here and in the first quarter of 2022, the luxury real estate market was strong in Seattle, West Bellevue and on the Eastside overall. The local luxury market’s strength is primarily a result of the continued economic vitality of the region, as well as the wealth effect from the stock market. In Seattle, luxury sales activity was extremely strong in the $1 to $3 million price range. Even homes priced $3 million and above were in high demand, with more luxury sales in the past quarter than we’ve seen during the same time frame over the last few years.
S E AT T L E Q1 2022
Q1 2021
% Change
Number of Sales
779
628
24.0%
Total Dollar Volume
$1,198,823,012
$968,287,562
23.8%
Average Sales Price
$1,538,926
$1,541,859
-0.2%
Median Sales Price
$1,345,679
$1,321,000
1.9%
Average Days on Market
41
53
-22.6%
Sold / List Price %
111.5%
103.2%
8.0%
Average Price per SQFT
$632
$548
15.4%
Quarter-end inventory
161
205
-21.5%
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.
P E N D I N G | J O H N L S C OT T. C O M / 6 4 7 4 3
WEST BELLEVUE Q1 2022
Q1 2021
% Change
Number of Sales
53
71
-25.3%
Total Dollar Volume
$242,626,990
$257,720,524
-5.8%
Average Sales Price
$4,577,868
$3,629,867
26.1%
Median Sales Price
$4,400,000
$3,119,000
41.0%
Average Days on Market
46
70
-34.2%
Sold / List Price %
100.6%
98.0%
2.6%
Average Price per SQFT
$1,085
$866
25.3%
Quarter-end inventory
33
20
65.0%
In West Bellevue, unsold luxury inventory remained scarce through the first quarter, with March kicking off the return of more luxury listings coming on the market.
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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
S O L D | J O H N L S C OT T. C O M /11615
MERCER ISLAND Q1 2022
Q1 2021
% Change
Number of Sales
39
64
-39.0%
Total Dollar Volume
$107,335,914
$145,682,306
-26.3%
Average Sales Price
$2,752,203
$2,276,286
20.9%
Median Sales Price
$2,525,000
$1,930,000
30.8%
Average Days on Market
55
46
19.5%
Sold / List Price %
110.9%
104.5%
6.1%
Average Price per SQFT
$803
$690
16.3%
Quarter-end inventory
11
14
-21.4%
A scarcity of unsold luxury inventory continued on Mercer Island over the first quarter, and each new luxury listing on the market is attracting significant attention from buyers.
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.
P E N D I N G | J O H N L S C OT T. C O M / 6 2 2 7 1
EASTSIDE % Change
Number of Sales
959
991
-3.2%
Total Dollar Volume
$2,044,512,116
$1,812,129,778
12.8%
Average Sales Price
$2,131,921
$1,828,587
16.6%
Median Sales Price
$1,779,375
$1,517,000
17.3%
Average Days on Market
44
62
-29.0%
Sold / List Price %
113.1%
105.4%
7.3%
Average Price per SQFT
$734
$543
35.1%
Quarter-end inventory
257
193
33.2%
DAYS ON MARKE T
29.0%
AVERAGE SALES PRICE
Q1 2021
Q1 2022
16.6%
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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
S O L D | J O H N L S C OT T. C O M /5 6219
KING COUNTY CONDO % Change
Number of Sales
199
145
37.2%
Total Dollar Volume
$292,029,862
$212,750,301
37.3%
Average Sales Price
$1,467,487
$1,467,243
N/A
Median Sales Price
$1,335,000
$1,281,000
4.2%
Average Days on Market
66
86
-23.2%
Sold / List Price %
105.7%
99.8%
5.9%
Average Price per SQFT
$835
$789
5.8%
Quarter-end inventory
103
120
-14.2%
NUMBER OF SALES
AVERAGE DAYS ON MARKET
Q1 2021
Q1 2022
37.2%
23.2%
The data is for condominiums 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.
P E N D I N G | J O H N L S C OT T. C O M / 4 9 5 3 6
S O U T H K I N G CO U N T Y Q1 2022
Q1 2021
% Change
Number of Sales
642
272
136.0%
Total Dollar Volume
$603,702,534
$258,519,760
133.5%
Average Sales Price
$940,347
$950,440
-1.1%
Median Sales Price
$852,733
$850,000
0.3%
Average Days on Market
18
20
-10.0%
Sold / List Price %
109.0%
103.8%
5.0%
Average Price per SQFT
$350
$294
19.2%
Quarter-end inventory
195
90
116.7%
IN Q1, WE SAW A 136.0% INCREASE IN SALES FOR SOUTH KING COUNT Y
The data is for single family residences over $750k in MLS areas 100, 110, 120, 130, 140, 300, 310, 320, 330, 340, 350, 360, 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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
O F F E R E D AT $2,300,000 | J O H N L S C OT T. C O M / 66419
P I ERCE COUNTY Q1 2022
Q1 2021
% Change
Number of Sales
482
308
56.5%
Total Dollar Volume
$480,375,122
$300,688,953
59.8%
Average Sales Price
$996,629
$976,263
2.1%
Median Sales Price
$879,309
$860,000
2.2%
Average Days on Market
34
44
-22.7%
Sold / List Price %
102.9%
100.8%
2.1%
Average Price per SQFT
$323
$288
12.2%
Quarter-end inventory
213
135
57.8%
THE AVERAGE DAYS ON MARKET DECREASED BY 22.7% IN Q1 IN PIERCE COUNT Y
The 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.
O F F E R E D AT $1,650,000 | J O H N L S C OT T. C O M / 4 2 7 4 5
KITSAP COUNTY Q1 2022
Q1 2021
% Change
Number of Sales
157
106
48.1%
Total Dollar Volume
$178,835,340
$138,055,874
29.5%
Average Sales Price
$1,139,079
$1,302,414
-12.5%
Median Sales Price
$925,000
$1,017,500
-9.1%
Average Days on Market
41
43
-4.7%
Sold / List Price %
106.4%
101.9%
4.4%
Average Price per SQFT
$392
$416
-5.6%
Quarter-end inventory
76
45
68.9%
OVERALL, THE AVERAGE PRICE PER SQUARE FOOT DECREASED 5.6% IN KITSAP COUNT Y
The 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 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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
P E N D I N G | J O H N L S C OT T. C O M / 60680
BAINBRIDGE ISLAND Q1 2022
Q1 2021
% Change
Number of Sales
34
40
-15.0%
Total Dollar Volume
$58,983,150
$74,178,900
-20.5%
Average Sales Price
$1,734,799
$1,854,473
-6.5%
Median Sales Price
$1,566,500
$1,528,250
2.5%
Average Days on Market
40
59
-32.2%
Sold / List Price %
112.0%
101.2%
11.3%
Average Price per SQFT
$585
$499
17.4%
Quarter-end inventory
13
11
18.2%
Bainbridge Island shines in the spring and summer, when residents can enjoy all sorts of outdoor activities close to home yet still benefit from the area’s proximity to the job centers. New listings on Bainbridge Island in March 2022 were up compared to the past two years. Home buyers will be pleased to hear that the coming months are likely to bring more luxury listings on the market as the prime-time luxury season continues.
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.
P E N D I N G | J O H N L S C OT T. C O M / 3 1 4 1 2
SNOHOMISH COUNTY Q1 2022
Q1 2021
% Change
Number of Sales
1,111
687
61.7%
Total Dollar Volume
$1,234,180,518
$677,088,094
82.3%
Average Sales Price
$1,110,874
$985,572
12.7%
Median Sales Price
$997,381
$886,000
12.6%
Average Days on Market
12
17
-29.4%
Sold / List Price %
111.6%
106.4%
4.9%
Average Price per SQFT
$440
$345
27.5%
Quarter-end inventory
308
126
144.4%
Q1 SAW A 29.4% DECREASE IN DAYS ON MARKET IN SNOHOMISH COUNT Y
The 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 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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
P E N D I N G | J O H N L S C OT T. C O M / 67250
ISLAND COUNTY Q1 2022
Q1 2021
% Change
Number of Sales
94
61
54.1%
Total Dollar Volume
$104,359,054
$66,724,901
56.4%
Average Sales Price
$1,110,203
$1,093,851
1.5%
Median Sales Price
$950,000
$898,000
5.8%
Average Days on Market
31
40
-22.5%
Sold / List Price %
102.9%
101.6%
1.4%
Average Price per SQFT
$417
$356
17.2%
Quarter-end inventory
33
35
-5.7%
OVERALL, THE NUMBER OF SALES INCREASED BY 54.1% IN ISLAND COUNT Y
The 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.
LUX U RY WATERFRONT LAKE WASHINGTON Q1 2022
Q1 2021
% Change
Number of Sales
28
26
7.7%
Total Dollar Volume
$99,775,275
$100,556,603
-0.8%
Average Sales Price
$3,563,403
$3,867,562
-7.9%
Median Sales Price
$2,230,000
$2,617,500
-14.8%
Average Days on Market
28
35
-20.0%
Sold / List Price %
100.7%
96.6%
4.2%
Average Price per SQFT
$1,120
$988
13.3%
Quarter-end inventory
20
27
-25.9%
Q1 2022
Q1 2021
% Change
Number of Sales
24
16
50.0%
Total Dollar Volume
$68,851,000
$34,236,501
101.1%
Average Sales Price
$2,868,792
$2,139,781
34.1%
Median Sales Price
$1,832,500
$1,437,000
27.5%
Average Days on Market
18
15
20.0%
Sold / List Price %
106.7%
104.6%
1.9%
Average Price per SQFT
$853
$638
33.8%
Quarter-end inventory
5
12
-58.3%
LAKE SAMMAMISH
KING COUNTY Q1 2022
Q1 2021
% Change
Number of Sales
124
97
27.8%
Total Dollar Volume
$335,168,225
$238,269,007
40.7%
Average Sales Price
$2,702,970
$2,456,382
10.0%
Median Sales Price
$1,820,000
$1,550,000
17.4%
Average Days on Market
16
37
-56.8%
Sold / List Price %
105.5%
97.2%
8.5%
Average Price per SQFT
$830
$741
11.9%
Quarter-end inventory
50
79
-36.7%
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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
F ET AU R E D
LU X R Y L I S T I N G S
CARNATION, WA | $2,500,000 | JOHNLSCOTT.COM/58567 5815 294TH AVE NE, CARNATION, WA 98014 Marvel in PNW living across 4,051-SF of living space. Immerse yourself in luxury as the gated entry whisks you through a serene drive and manicured grounds welcome you home. Front doors open to elevated ceilings with an elegant staircase. Windows wrap the living room, drenching spaces with sunlight, and purposeful millwork exudes opulence through wainscoting and trim work. The state-of-the-art gourmet kitchen features custom and professional-grade appliances, suited to ignite culinary experiences. The spacious main floor owner’s retreat features an en suite and walk-in closet. Every room is customized and no detail was overlooked. Sprawled throughout on 5.06 acres of private serenity with 2 outbuildings. Ideally located, masterfully positioned.
ALLY BOSAK
(253) 653-8019 allyb@johnlscott.com
202 2 Q1 LU X U R Y M A R K E T T R E N D S
BELLEVUE, WA | PENDING | JOHNLSCOTT.COM/65245 11030 SE 27TH PL, BELLEVUE, WA 98004 Custom crafted by Murray Franklyn, this sought-after Aurora plan is thoughtfully built in the quiet, desirable community of Enatai. Double doors open into the grand entry with custom details and striking millwork throughout. Follow beautiful hardwood floors into the voluminous two-story great room, immersed in natural light from walls of windows. Custom built-ins frame the stunning floor-to-ceiling stone fireplace. The Epicurean kitchen is lined with crisp, white cabinetry and high-end appliances, while large picture windows allow for sunny, bright mornings. The open floor plan flows into the formal dining room paired with custom cabinetry and a wine refrigerator for easy entertaining. On the upper level, retreat to the primary suite with a spa-inspired bath featuring a soaking tub, walk-in shower, and enormous walk-in closet. The bonus room on the upper level is perfect for a media or game room. Glass doors in the great room open to the sweeping covered patio with its own cozy fireplace for year-round enjoyment. Relax in the utmost tranquility in the professionally manicured, private backyard. Situated near shops, dining, and in the desirable West Bellevue School District.
KRIS CONOVER
(206) 227-7564 krisc@johnlscott.com
EASTERN WA S H I N G TO N & IDAHO
202 2 Q1 LU X U R Y M A R K E T T R E N D S
O F F E R E D AT $4,900,000 | J O H N L S C OT T. C O M /47475
COEUR D’A LENE, IDAHO Q1 2022
Q1 2021
% Change
Number of Sales
163
146
11.6%
Total Dollar Volume
$214,490,151
$194,676,272
10.2%
Average Sales Price
$1,315,890
$1,333,399
-1.3%
Median Sales Price
$1,045,605
$1,109,500
-5.8%
Average Days on Market
47
30
56.7%
Sold / List Price %
97.4%
98.7%
-1.3%
Average Price per SQFT
$424
$392
8.2%
Quarter-end inventory
160
131
22.1%
SALES IN COEUR D’ALENE INCREASED 11.6% COMPARED WITH THE SAME PERIOD IN 2021
The 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 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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
P E N D I N G | J O H N L S C OT T. C O M /60781
SP O KANE COUNTY Q1 2022
Q1 2021
% Change
Number of Sales
111
78
42.3%
Total Dollar Volume
$109,329,683
$78,365,234
39.5%
Average Sales Price
$984,952
$1,004,682
-2.0%
Median Sales Price
$860,000
$904,000
-4.9%
Average Days on Market
32
55
-41.8%
Sold / List Price %
98.7%
98.0%
0.7%
Average Price per SQFT
$261
$222
17.6%
Quarter-end inventory
104
63
65.1%
THE NUMBER OF SALES IN SPOKANE COUNT Y INCREASED 42.3% COMPARED WITH THE SAME PERIOD IN 2021
The 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 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.
OREGON & SOUTHWEST WA S H I N G TO N
202 2 Q1 LU X U R Y M A R K E T T R E N D S
FIRST QUARTER
HIGHLIGHTS
P E NDING | JOHNLSCOTT.COM/67794
The $1 to $1.5 million luxury price range is particularly hot in the Portland Metro area. Due to strong price appreciation, more homes have moved into the luxury price ranges locally. Inventory will only go up from this point forward as the prime-time luxury season takes hold.
PORTLAND METRO Q1 2022
Q1 2021
% Change
Number of Sales
137
126
8.7%
Total Dollar Volume
$215,666,320
$186,621,683
15.6%
Average Sales Price
$1,574,207
$1,481,124
6.3%
Median Sales Price
$1,285,000
$1,314,000
-2.2%
Average Days on Market
68
80
-15.0%
Sold / List Price %
103.90%
99.00%
4.9%
Average Price per SQFT
$396
$346
14.7%
Quarter-end inventory
88
99
-23.6%
SOLD | JOHNLSCOTT.COM/35910
In Lake Oswego and West Linn, brisk sales activity for homes $1 million and above continued throughout the first quarter of 2022. Unsold inventory locally is substantially lower than it was pre-pandemic, but we will see more listings coming on the market in the months ahead.
LAKE OSWEGO Q1 2022
Q1 2021
% Change
Number of Sales
92
87
5.7%
Total Dollar Volume
$168,912,472
$145,543,985
16.0%
Average Sales Price
$1,836,005
$1,672,919
9.7%
Median Sales Price
$1,530,000
$1,450,000
5.5%
Average Days on Market
82
104
-21.1%
Sold / List Price %
102.0%
97.4%
4.7%
Average Price per SQFT
$451
$384
17.5%
Quarter-end inventory
45
56
-29.0%
The data is for single family residences over $1M in Clackamas, Multnomah, Washington and Columbia 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 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.
BEND Q1 2022
Q1 2021
% Change
Number of Sales
389
241
61.4%
Total Dollar Volume
$453,489,288
$278,987,845
62.5%
Average Sales Price
$1,165,782
$1,157,626
0.7%
Median Sales Price
$961,000
$998,500
-3.8%
Average Days on Market
46
48
-4.2%
Sold / List Price %
100.7%
100.8%
-0.1%
Average Price per SQFT
$453
$404
12.1%
Quarter-end inventory
153
96
59.4%
IN Q1, THE NUMBER OF SALES INCREASED BY 61.4% IN BEND
The data is for single family residences over $900k in Bend Oregon. 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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S O F F E R E D AT $1,150,000
Bend’s strong luxury market continued in the first quarter of 2022, guided by the region’s draw as a lifestyle/destination market. High-net-worth individuals are drawn to Bend for the area’s natural beauty as well as excellent dining and entertainment options. The luxury sales activity in Bend will remain strong in the coming months as more luxury listings are put on the market.
O F F E R E D AT $1,425,000 | J O H N L S C OT T. C O M / 3 9 5 2 3
JACKSON COUNTY Q1 2022
Q1 2021
% Change
Number of Sales
90
60
50.0%
Total Dollar Volume
$88,329,877
$63,641,425
38.8%
Average Sales Price
$981,443
$1,060,690
-7.5%
Median Sales Price
$862,500
$902,500
-4.4%
Average Days on Market
72
115
-37.4%
Sold / List Price %
98.2%
94.8%
3.6%
Average Price per SQFT
$317
$299
6.1%
Quarter-end inventory
152
85
78.8%
THE AVERAGE DAYS ON MARKET DECREASED BY 37.4% IN Q1 IN JACKSON COUNT Y
The 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 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.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
O F F E R E D AT $1,250,000 | J O H N L S C OT T. C O M /45733
C L A R K CO U N T Y Q1 2022
Q1 2021
% Change
Number of Sales
313
177
76.8%
Total Dollar Volume
$317,623,781
$176,166,587
80.3%
Average Sales Price
$1,014,772
$989,700
2.5%
Median Sales Price
$909,695
$892,000
2.0%
Average Days on Market
31
57
-45.6%
Sold / List Price %
100.3%
99.6%
0.7%
Average Price per SQFT
$311
$261
19.4%
Quarter-end inventory
120
119
0.8%
IN Q1 SALES INCREASED 76.8% IN CLARK COUNT Y COMPARED WITH THE SAME PERIOD LAST YEAR
The 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.
WELL DONE
DIGITAL MINDFULNESS IS KEY AS WORK AND HOME LIVES COLLIDE IN A 24/7 WORLD
BY DINA FENILI NIEKAMP
The idea of wellness is currently piquing the interest of many luxury business sectors. From beauty and fashion to travel and fitness, it is one of the world’s fastest-growing market segments coming out of the pandemic. Over the last few years, we have seen society’s pace slow down and become more centered on the home. Having spent more time in their abodes, consumers now value dedicated wellness spaces more than ever. While commuting into offices dissipated, we all became more digitally and virtually connected. With that came a genuine need to disconnect and step back after-hours. The need to bond with ourselves and our loved ones also introduced the desire for both physical wellness spaces and mindfulness. As the symbolic line between work and home has blurred, our focus on creating spaces that positively impact behavior, mood, and belief has sharpened.
202 2 Q1 LU X U R Y M A R K E T T R E N D S
MIND THE GAP Unlike the traditional definition of health, wellness is not about only physical well-being, but rather the holistic state of well-being: the intersection of mind, body and spirit, and how each corresponds with the other. Mindfulness, or focusing our awareness on the present moment without judgment, is a tool we can use to elevate our well-being. One way to be mindful when our work and home lives collide is through purposeful digital mindfulness. Wellness retreats such as Miraval Resorts guide guests to do so with Miraval Mode, a digital device-free policy that lets consumers participate in the full resort and spa experience, free of distraction. We can recreate this process at home by giving ourselves permission to unplug at scheduled times and live in the present moment. We can prioritize how and when we use our devices in our homes and around our loved ones. Try keeping an analog clock in each room in your home to avoid looking at your phone for the time. Make mealtime a no device zone so you can engage in the whole dining experience and savor both cuisine and company. Additionally, discover how your kitchen can be hearth and haven when no blue lights or devices distract or detract from its warm glow.
BY DESIGN Integrating intentional spaces for calm and reflection can also improve mindfulness and well-being. Your kitchen, for example, serves as the heart of the home — a place where bonds form. It should offer a space that allows food preparation to be a joyful, relaxing and easily accessible ritual.
Likewise, dedicating an exclusive area of your home for fitness, yoga, meditation and crystals may encourage daily private contemplation. You can even practice digital mindfulness at home by putting your smartphone to bed in a separate mobile phone case or sleeping bag.
For example, we use principles of feng shui, light and sound design, bio-geometry and integration of natural materials in the architecture of each Miraval Resorts design. We reflect the native region of each property and set a tone for wellness based on our natural surroundings. Our New York-based spa interior designer, Clodagh, was among the earliest adopters of feng shui in her design practice. Each of her unique Miraval Life in Balance Spas exudes healing aromas of jasmine, light fixtures that mimic desert sunlight, and crystals integrated into the walls to radiate energy for guests. Creating sacred spaces at home invites a dedicated wellness escape. The simple addition of a coffee-table book to your living room presents a peaceful mental escape.
MAKE IT YOUR mission this year to bring wellness home with you, both to your physical dwelling and your state of mind. Create your own symbolic line between work and home with intentional spaces for calm, reflection and family connection. Text reproduced with permission from Luxury Portfolio International and Luxury Portfolio magazine. © Luxury Portfolio International. All rights reserved. Photo credit: istock.com
P E N D I N G | J O H N L SCOT . CO M /80645
Jordan Kingston Jordan Kingston
Residential Specialist Residential Specialist 425.555.5555 Connect with @JLSexceptionalhomes 425.555.5555 us: jordankingston@johnlscott.com jordankingston@johnlscott.com jordankingston.com jordankingston.com
S e e A LJordan L H o m eKingston s for Sale Residential Specialist Residential Specialist
425.555.5555 @exceptional_homesjls AVA I L A B L E F O R I O S A N D AN D R O I D
jordankingston@johnlscott.com
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