Exceptional Homes Q2 Luxury Market Trends

2019 Q2 LU X U R Y M A R K E T T R E N D S

LUXURY MARKET TRENDS

W E LC O M E TO S U M M E R !

As in spring, luxury inventory in many areas is at a high point this summer. Buyers are also out in full force at open houses to secure their home of choice before the school year begins. With more inventory and buyers in the market this summer, it’s a great time to buy or sell a luxury home.

Summer also brings the beginning of a refresh of our Luxury Market Trends report. In coming editions, you’ll find a fresh concept, with more region-specific luxury insights from John L. Scott office leaders, luxury specialists and myself. Plus, each edition will include editorial content tailored to the high net-worth individual. We hope you’ll find these reports useful and inspiring as you look to buy or sell your next home.

J. Lennox Scott Chairman and CEO John L. Scott Real Estate

E XC E P T I O N A L H O M E S B Y J O H N L . S C OT 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, as well as our support staff, we provide concierge-level service by putting clients first.

Whether you are looking to buy or sell this summer, John L. Scott luxury broker-associates are prepared with a full range of client service – from pricing comparisons & local insight, to excellent local & global marketing strategies that will highlight the unique prestige of your home, selling it in the shortest period of time. At John L. Scott, we are committed to helping all our clients Live Their Luxury.

O N T H E CO V E R : O F F E R E D AT $17,000,000 | J O H N L S COT T. CO M /1 3 5 6 3

Luxury

LI V E Y O U R

W E A R E G LO B A L John L. Scott is a founding member of the international organization Leading Real Estate Companies of the WorldÂŽ.

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.

Founded in 1931, JLS operates over 100 offices with over 3,000 agents throughout WA, OR, & ID

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

80%

of applicants to this network are turned down

JOHN L. SCOTT + LEADINGRE HAD $32 BILLION MORE U. S . H O M E S A L E S V O LU M E T H A N O U R C LO S E S T CO M P E T I TO R Source: RealTrends.com

BY T H E N U M B E R S

Member Firms

565

Total Inventory

Associates Worldwide

Continents with Member Companies

Average Property

Offices Worldwide

130,000

$58

BILLION

6

4,300

$2.6

MILLION

$32 BILLION MORE U.S. HOME SALES THAN OUR CLOSEST COMPETITOR

AMONG THE TOP 500 FIRMS

Volume shown in billions of dollars 250

200

150

100

50

0

This bar chart is sourced from REAL Trends Top 500 for 2018, realtrends.com.

Companies shown represent networks and national brands.

Leading Real Estate Companies of the World® $254 Keller Williams $222 Coldwell Banker $192 Non-LeadingRE Independents $91 Berkshire Hathaway Home Services $89 RE/MAX $83 Sotheby’s International Realty $72 Compass $45 Century 21 $30 Douglas Elliman Real Estate $28 eXp Realty $19 HomeSmart $14 ERA $14 Better Homes & Gardens $12 Realty Executives $7 Exit Realty $.5

JOHN L. SCOT T LUXURY SPECIALISTS

SCHOLARS OF THE MARKET Curious about luxury trends in your neighborhood? See what some of our office leaders had to say about the luxury market in their areas.

SAND RA LEVIN Office Leader, Mercer Island

“For luxury, people are looking for amenities and special touches, whether that be the pops of color or special features throughout the house. They are also looking for outdoor living spaces – areas that can be used year round. They are also interested in things like upscale kitchens that are functional and sophisticated with high-end appliances, lots of workspace, storage and an open feel.”

M A RT I N WEISS A ssi st ant Office Leader, Issaquah

“The entry level to luxury around $ 1 to $1.5 million is still very strong with 55.8% of homes selling in the first 30 days.

Overall, inventory is still low at 2.2 months on the Eastside versus 1.6 months last year.

Inventory is low from $1 to $5 million. Aesthetically, we are still seeing the minimalist look in the Eastside luxury market. The designer white kitchen seems to be fading with more pops of color on overall personalization becoming more prevalent.”

2019 Q2 LU X U R Y M A R K E T T R E N D S

E RIC SH ULL Office Leader, Kent North

“The South King County luxury market is gaining steam with more luxury homes coming on the market in the summer months (a 7.3% increase from the previous month). Sales are increasing but only at a moderate level. We are seeing more sellers jump into the market in hopes of capitalizing on the existing hot Puget Sound luxury real estate market, but they need to know about the dispersed buyer energy that is happening right now because of more inventory and less buyers competing because of graduations & vacations.”

DA N HE AT E R Office Leader, Bend

“Due to our region’s tourist/ destination makeup, we are seeing, and will continue to see, buyers that have sold homes in other parts of the country. Our prices are relatively cheap compared to where they are coming from. I expect the luxury market in Central Oregon to continue to thrive.”

PUGET SOUND

2019 Q2 LU X U R Y M A R K E T T R E N D S

S E C O N D Q UA R T E R

HIGHLIGHTS

O F F E R E D AT $2,695,000 J O H N L S C OT T. C O M /18022

In Q2, there was increased inventory in Seattle and on the Eastside, which always leads to dispersed buyer energy.

Luxury sales in Seattle were positive, and the Eastside saw strong sales up to $1.5 million in recent months. Over the past year, the inventory on the Eastside has ramped up, while sales were at similar levels as last year.

Looking ahead, prices will flatten out over the second half of the year. The Eastside is the number one area for luxury sales in the Puget Sound area, and the local market remains strong.

O F F E R E D AT $3,298,000

Q2 2019

WEST B E L L E V U E S E AT T L E

J O H N L S C OT T. C O M / 2 08 6 9

Q2 2018

% Change

Number of Sales

610

654

-6.7%

Total Dollar Volume

$911,782,214

$1,012,059,918

-9.9%

Average Sales Price

$1,494,725

$1,547,492

-3.4%

Median Sales Price

$1,325,000

$1,308,500

1.3%

Average Days on Market

53

44

20.4%

Sold / List Price %

100.1%

103.3%

-3.1%

Average Price per SQFT

$503

$524

-4.0%

Quarter-end inventory

499

357

39.8%

Q2 2019

Q2 2018

% Change

Number of Sales

113

110

2.7%

Total Dollar Volume

$379,781,755

$323,648,328

17.3%

Average Sales Price

$3,360,900

$2,942,258

14.2%

Median Sales Price

$2,398,000

$2,495,000

-3.8%

Average Days on Market

72

69

4.3%

Sold / List Price %

93.0%

98.7%

-5.7%

Average Price per SQFT

$900

$740

21.6%

Quarter-end inventory

135

105

28.6%

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.

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.

PUGET SOUND

MERCER ISLAND

Q2 2019

Q2 2018

% Change

Number of Sales

98

97

1.0%

Total Dollar Volume

$215,269,579

$202,835,855

6.1%

Average Sales Price

$2,196,628

$2,091,091

5.0%

Median Sales Price

$1,810,000

$1,710,000

5.8%

Average Days on Market

82

68

20.5%

Sold / List Price %

98.7%

99.9%

-1.2%

Average Price per SQFT

$626

$602

3.9%

Quarter-end inventory

88

77

14.3%

O F F E R E D AT $3,150,000 | J O H N L S C OT T. C O M / 60312

The data is for single family residences over $1M in MLS areas 500, 510, 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.

2019 Q2 LU X U R Y M A R K E T T R E N D S

S O L D F O R $3,500,000

EASTSIDE

PRICE PER SQFT

$484 NUMBER OF SALES

-4.5%

Q2 2018

% Change

Number of Sales

1,072

1,123

-4.5%

Total Dollar Volume

$1,839,235,681

$1,855,794,045

-0.9%

Average Sales Price

$1,715,705

$1,652,533

3.8%

Median Sales Price

$1,333,750

$1,360,000

-1.9%

Average Days on Market

86

66

30.3%

Sold / List Price %

97.7%

101.5%

-3.7%

Average Price per SQFT

$484

$469

3.2%

Quarter-end inventory

972

853

14.0%

Q2 2019

Q2 2018

% Change

Number of Sales

113

119

-5.0%

Total Dollar Volume

$161,649,405

$171,759,605

-5.9%

Average Sales Price

$1,430,526

$1,443,358

-0.9%

Median Sales Price

$1,295,000

$1,293,000

0.2%

Average Days on Market

88

77

14.2%

Sold / List Price %

98.4%

98.3%

0.2%

Average Price per SQFT

$741

$755

-1.8%

Quarter-end inventory

143

114

25.4% NUMBER OF SALES

-5.0%

88

K I N G CO U N T Y CO N D O

DAYS ON MARKE T

The data is for condominiums over $1M in King County.

KING CO U N T Y CO N D O

EASTSIDE

Q2 2019

SOUTH KING CO U N T Y

O F F E R E D AT $2,795,000 | J O H N L S C OT T. C O M / 47 411

Q2 2019

Q2 2018

% Change

Number of Sales

169

152

11.2%

Total Dollar Volume

$163,889,704

$143,343,612

14.3%

Average Sales Price

$969,762

$943,050

2.8%

Median Sales Price

$875,000

$817,000

7.1%

Average Days on Market

58

46

26.1%

Sold / List Price %

97.9%

97.6%

0.3%

Average Price per SQFT

$258

$267

-3.7%

Quarter-end inventory

214

316

-32.3%

“This will be a great time for buyers to jump into the market with a little less competition and even better mortgage rates than earlier months.�

- ERIC SHULL OFFICE LEADER KENT NORTH

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.

2019 Q2 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 $5,900,000 | J O H N L S C OT T. C O M /19850

PIERCE COUNTY

Q2 2019

Q2 2018

% Change

Number of Sales

183

154

18.8%

Total Dollar Volume

$178,886,650

$156,643,438

14.2%

Average Sales Price

$977,523

$1,017,165

-3.9%

Median Sales Price

$887,000

$899,975

-1.4%

Average Days on Market

68

60

13.3%

Sold / List Price %

97.5%

97.6%

-0.2%

Average Price per SQFT

$249

$266

-6.5%

Quarter-end inventory

280

294

-4.8%

WE ARE SEEING A 18.8% S A L E S INCREASE IN P I E R C E CO U N T 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 $1,450,000 | J O H N L S C OT T. C O M / 17 088

Q2 2019

Q2 2018

% Change

143

112

27.7%

Total Dollar Volume

$167,681,091

$124,384,359

34.8%

Average Sales Price

$1,172,595

$1,110,575

5.6%

Median Sales Price

$1,044,000

$991,500

5.3%

Average Days on Market

36

41

-12.2%

Sold / List Price %

99.3%

100.8%

-1.5%

Average Price per SQFT

$349

$347

0.3%

Quarter-end inventory

181

132

37.0%

KITSAP COUNTY

Number of Sales

OVERALL, AV E R A G E D AY S ON MARKET ARE D O W N 12.2% I N K I T S A P CO U N T 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.

2019 Q2 LU X U R Y M A R K E T T R E N D S

BAINBRIDGE ISLAND

O F F E R E D AT $2,375,000 | J O H N L S C OT T. C O M /56456

Q2 2019

Q2 2018

% Change

Number of Sales

61

49

24.4%

Total Dollar Volume

$90,116,320

$66,253,722

36.0%

Average Sales Price

$1,477,317

$1,352,117

9.3%

Median Sales Price

$1,260,000

$1,250,000

0.8%

Average Days on Market

69

67

2.9%

Sold / List Price %

99.3%

100.6%

-1.3%

Average Price per SQFT

$402

$400

0.4%

Quarter-end inventory

67

37

81.1%

Q 2 S AW A 24.4% S A L E S INCREASE ON BAINBRIDGE ISLAND

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.

SNOHOMISH COUNTY

O F F E R E D AT $2,100,000 | J O H N L S C OT T. C O M / 34 331

Q2 2019

Q2 2018

% Change

Number of Sales

409

467

-12.4%

Total Dollar Volume

$395,797,951

$433,131,092

-8.6%

Average Sales Price

$967,721

$927,476

4.3%

Median Sales Price

$850,000

$850,000

N/A

Average Days on Market

40

22

81.8%

Sold / List Price %

99.2%

101.2%

-2.0%

Average Price per SQFT

$291

$293

-0.4%

Quarter-end inventory

459

408

12.5%

OVERALL, THE AV E R A G E S A L E S PRICE IS UP 4.3% I N SNOHOMISH CO U N T 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.

2019 Q2 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 $1,195,000 | J O H N L S C OT T. C O M /22248

ISLAND COUNTY

Q2 2019

Q2 2018

% Change

Number of Sales

45

50

-10.0%

Total Dollar Volume

$49,289,000

$53,295,050

-7.5%

Average Sales Price

$1,095,311

$1,065,901

2.8%

Median Sales Price

$900,000

$927,500

-3.0%

Average Days on Market

48

65

-26.2%

Sold / List Price %

97.8%

97.3%

0.5%

Average Price per SQFT

$388

$342

13.4%

Quarter-end inventory

86

86

N/A

Q 2 S AW A 10.0% S A L E S DROP IN I S L A N D CO U N T 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.

LU X U R Y WAT E R F R O N T LAKE WASHINGTON Q2 2019

Q2 2018

% Change

Number of Sales

54

48

12.5%

Total Dollar Volume

$257,673,588

$166,244,305

55.0%

Average Sales Price

$4,771,733

$3,463,423

37.8%

Median Sales Price

$2,382,500

$2,400,000

-0.7%

Average Days on Market

52

56

-7.1%

Sold / List Price %

90.9%

97.0%

-6.2%

Average Price per SQFT

$1,150

$923

24.6%

Quarter-end inventory

77

64

20.3%

09 07

LAKE SAMMAMISH Q2 2019

Q2 2018

% Change

Number of Sales

35

33

6.1%

Total Dollar Volume

$71,867,225

$64,048,794

12.2%

Average Sales Price

$2,053,349

$1,940,873

5.8%

Median Sales Price

$1,726,500

$1,410,000

22.4%

Average Days on Market

23

18

27.8%

Sold / List Price %

99.9%

100.3%

-0.4%

Average Price per SQFT

$575

$522

10.1%

Quarter-end inventory

33

21

57.1%

KING COUNT Y

Q2 2019

Q2 2018

% Change

Number of Sales

175

161

8.7%

Total Dollar Volume

$491,402,463

$380,894,163

29.0%

Average Sales Price

$2,808,014

$2,365,802

18.7%

Median Sales Price

$1,870,000

$1,645,000

13.7%

Average Days on Market

39

42

-7.1%

Sold / List Price %

94.40%

98.80%

-4.5%

Average Price per SQFT

$732

$637

15.0%

Quarter-end inventory

225

169

33.1%

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.

O F F E R E D AT $3,198,880 johnlscott.com/13280

2019 Q2 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 $17,000,000 | J O H N L S C OT T. C O M /13563

F E AT U R E D

LU X U R Y L I S T I N G S

SAMMAMISH, WA | $1,948,000 S A M M A M I S H E S TAT E L I V I N G . C O M Escape the hustle and bustle & enjoy peace and privacy amidst this 1.19 acre enclave including a stately circular driveway. From the grand formal venues to the fabulous great room and outdoor living room, to the supersized kitchen and oversized master suite, this custom home is truly a rare find. Feel like you are miles away yet only minutes to all Sammamish has to offer. Stop for a visit and stay a lifetime!

STEVE AND JOHANNA CRAIG 425.444.2289 425.985.4807 Stevec@johnlscott.com Johannacraig@johnlscott.com

2019 Q2 LU X U R Y M A R K E T T R E N D S

EDGEWOOD, | $1,290,000 Kenmore, wa WA | $1,450,000 johnlscott.com/43547 J O H N L S C O T T. C O M / 5 1 0 3 6 Ga. Editatu rioritiis debistest eum sed ut fugiate mperchi arci nus. Ita voluptate esciuntluxury rem amenities on a desirably sized mini farm. With fenced pastures and Occupying a prime Edgewood location, thiscienim one-of-a-kind estate offers consed que occus earum nes eatemiserum faceptate occum qui emquunt invernate multi-stall barn, thisqui property superb for asivariety of toreper animals, or simply enjoyed for its country ambiance, space & tranquility. The well-tended vent omnimus endes eos mod mos rem explis sum voluptus ab ilit ma qui sape estem simusci exterior provides a greenhouse, fruit trees, tennis court & shimmering in-ground pool with shady gazebo. The classic and beautifully constructed endanda ndament que pliquossedi con eos exerspi denima quod ut que volum nem venisto brick residence rempernatur a dolent,offers coribusimmense experaes space and room for everyone; including a guest/MIL suite, 2nd kitchen, gourmet kitchen, theater room with bar,

bonus room and huge master bedroom with private ensuite & balcony. Awash with natural light, the ornate interior features grand proportions, custom finishes, marble flooring, stainless appliances, airy vaulted ceilings & curved balustrade. The expansive poolholt deck with outdoor kitchen Doug provides flexibility for entertaining, or an alfresco area to linger over a meal in the evening air. Escape to your own patch of paradise.

206.940.0727 dougholt@johnlscott.com dougholt.johnlscott.com

DOUG WALKER 253.370.1690 dougw@johnlscott.com

WHAT’S E A S TON E RTHE N MARKET?

WESTERN, WA S H I N GEASTERN TO N WASHINGTON & IDAHO & IDAHO

2019 Q2 LU X U R Y M A R K E T T R E N D S

S E C O N D Q UA R T E R

HIGHLIGHTS

O F F E R E D AT $2,650,000 | J O H N L S C OT T. C O M /55007

O F F E R E D AT $2,650,000 | J O H N L S C OT T. C O M / 5 5 007

S P O K A N E KOOTENAI

This summer, the Spokane luxury market was similar to last year’s market. Kootenai County is seeing good sales activity, with similar inventory levels as last year. Both Spokane and Kootenai counties had selective buyer activity in Q2. Sellers looking to list their luxury home should ensure their home is Market Ready, Day One ™ so it’s well positioned to sell in the current market.

Q2 2019

Q2 2018

% Change

Number of Sales

63

46

37.0%

Total Dollar Volume

$64,198,256

$55,462,815

15.8%

Average Sales Price

$1,019,020

$1,205,713

-15.5%

Median Sales Price

$925,000

$975,650

-5.2%

Average Days on Market

93

108

-13.9%

Sold / List Price %

96.1%

95.2%

1.0%

Average Price per SQFT

$239

$282

-15.3%

Quarter-end inventory

259

114

127.2%

Q2 2019

Q2 2018

% Change

Number of Sales

43

40

7.5%

Total Dollar Volume

$41,167,518

$35,770,900

15.1%

Average Sales Price

$957,384

$894,273

7.1%

Median Sales Price

$882,400

$813,250

8.5%

Average Days on Market

55

79

-30.4%

Sold / List Price %

94.3%

95.6%

-1.3%

Average Price per SQFT

$179

$205

-12.7%

Quarter-end inventory

116

113

2.7%

The data is for single family residences over $750k in Spokane and Kootenai 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.

WHAT’S ON THE MARKET?

SWESTERN, O U T H WEASTERN EST WA S H I N G TO N WASHINGTON & IDAHO & OREGON

2019 Q2 LU X U R Y M A R K E T T R E N D S

S E C O N D Q UA R T E R

HIGHLIGHTS

P E N D I N G | J O H N L S C OT T. C O M /55365

Q2 brought selective buyer activity to the Portland market in the luxury price ranges. With increased inventory in many areas, the market can be competitive for sellers. However, working with a John L. Scott broker will ensure your home is Market Ready, Day One™, which can translate to positive results.

O F F E R E D AT $1,443,750 J O H N L S C OT T. C O M / 4 65 7 2

EAST WEST PORTLAND PORTLAND

Portland remains the best value for luxury on the West Coast, due to fewer direct flights to international destinations on the Pacific Rim versus other major West Coast cities.

Q2 2019

Q2 2018

% Change

Number of Sales

31

39

-20.5%

Total Dollar Volume

$37,839,256

$55,181,150

-31.4%

Average Sales Price

$1,220,621

$1,414,901

-13.7%

Median Sales Price

$1,125,000

$1,222,500

-8.0%

Average Days on Market

89

100

-11.0%

Sold / List Price %

97.0%

98.1%

-1.1%

Average Price per SQFT

$262

$328

-20.0%

Quarter-end inventory

105

93

12.9%

Q2 2019

Q2 2018

% Change

Number of Sales

195

204

-4.4%

Total Dollar Volume

$264,992,120

$286,324,556

-7.5%

Average Sales Price

$1,358,934

$1,403,552

-3.2%

Median Sales Price

$1,240,000

$1,249,000

-0.7%

Average Days on Market

102

100

2.0%

Sold / List Price %

96.7%

97.1%

-0.5%

Average Price per SQFT

$311

$315

-1.5%

Quarter-end inventory

492

523

-5.9%

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.

SOUTHWEST WASHINGTON & OREGON

BEND Bend’s luxury market saw a slight increase of inventory during Q2, with some extra listings this year compared to last year. Sales activity for luxury homes is higher than last year, though it’s crucial for sellers to ensure their home is positioned well and is ready to compete in the market.

O F F E R E D AT $1,197,000 | J O H N L S C OT T. C O M / 90483

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.

2019 Q2 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 $1,197,000 | J O H N L S C OT T. C O M / 90483

BEND

Q2 2019

Q2 2018

% Change

Number of Sales

147

139

5.8%

Total Dollar Volume

$157,679,859

$150,034,481

5.1%

Average Sales Price

$1,072,652

$1,079,385

-0.6%

Median Sales Price

$949,000

$938,684

1.1%

Average Days on Market

111

98

13.3%

Sold / List Price %

97.4%

97.6%

-0.2%

Average Price per SQFT

$327

$304

7.6%

Quarter-end inventory

369

192

92.2%

“The current luxury market in

Bend, Oregon is healthy with more overall listings year over year (+17.7%), and new listings up 40% year over year.

While inventory of homes over $800,000 are up, so are sales year over year at 48%.”

- DAN HEATER OFFICE LEADER BEND

O F F E R E D AT $2,995,000 | J O H N L S C OT T. C O M / 52035

Q2 2018

% Change

29

46

-37.0%

Total Dollar Volume

$26,814,135

$44,404,000

-39.6%

Average Sales Price

$924,625

$965,304

-4.2%

Median Sales Price

$865,000

$875,000

-1.1%

Average Days on Market

109

178

-38.8%

Sold / List Price %

92.50%

94.40%

-2.0%

Average Price per SQFT

$232

$269

-13.8%

Quarter-end inventory

245

113

114.2%

NUMBER OF SALES

-37.0%

DAYS ON MARKE T

-38.8%

†

Number of Sales

†

JACKSON COUNTY

Q2 2019

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.

2019 Q2 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 $3,375,000 | J O H N L S C OT T. C O M / 65183

CLARK CO U N T Y

Q2 2019

Q2 2018

% Change

Number of Sales

82

94

-12.8%

Total Dollar Volume

$75,005,931

$86,697,798

-13.5%

Average Sales Price

$914,706

$922,317

-0.8%

Median Sales Price

$834,450

$823,000

1.4%

Average Days on Market

70

82

-14.6%

Sold / List Price %

96.00%

96.30%

-0.3%

Average Price per SQFT

$219

$212

3.0%

Quarter-end inventory

210

237

-3.4%

Q 2 S AW A 14.6% D R O P I N D AY S O N M A R K E T I N C L A R K CO U N T Y

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.

LU X U R Y T R E N D S

Summer is here and the warmer weather means more time spent at home & outdoors. Whether you are looking to freshen up your interiors, breathe some life back into your patio or outdoor living space, or need some inspiration for the perfect summer beverage, we have you covered!

W H AT ’ S T R E N D I N G I N INTERIOR DESIGN? Update a common palette by being bold.

A popular trend over the last 5 years has been light color palettes and LOTS of white. Try updating these palettes by adding some boldness to your space. A great way to do this is by mixing in elements of black or charcoal tones.

Adding contrast to a room provides more visual interest and depth to your environment. The contrast between the dark and light materials will actually call more attention to all of the fine details in the room. When everything is similar in color and tone, you tend to lose some of that detail.

For instance, in a bathroom you can add dark accents by using black at the shower glass frame, plumbing fixtures and hardware locations. You can also incorporate dark tones at countertops and flooring areas. If you're really adventurous you can even try painting your doors dark.

Fortunately, you don't have to completely remodel to reinvigorate your space.

You can incorporate contrast by adding dark accents through furniture pieces, like bookcases and side tables, or by adding small accents like the banding on a lamp or the frame on a mirror.

What do you think, are you ready to be bold?

Courtesy of:

Aimee Upper Painted Room Interior Design Connect with Aimee: @PaintedRoomDesign

2019 Q2 LU X U R Y M A R K E T T R E N D S

G E T T I N G YO U R O U T D O O R S PA C E S U M M E R - R E A D Y There’s nothing more perfect than summer in the Pacific Northwest and there’s no better place to enjoy that gorgeous weather than in your own backyard. Outdoor living space not quite ready to go yet?

We have a couple tips on how to take your outdoor space from lackluster to lovely so you can spend more time enjoying the elusive sunshine!

BRINGING THE INSIDE OUT Incorporating the feeling of an indoor living room outdoors is hot this summer. Amp up the coziness with a durable outdoor rug, some comfy cushions or pillows, and some well-placed throw blankets and you’re ready to enjoy those summer days well after the sun sets.

P O R TA B L E AMBIANCE Have limited space or not ready to commit fully to a fire pit?

Opt for a functional focal point: a gas fire pit. With loads of options that are portable, you’re able to pull this piece out in the summer when you’re ready for s’mores and then store it once summer’s over.

F E AT U R E D CO C K TA I L LO S T & F O U N D 1.5oz rye .75oz cynar .75oz cocchi americano Stir together and serve neat in a rocks glass.

Add an orange peel to garnish.

From Life on Mars, a new bar in Seattle’s Capitol Hill neighborhood. This drink was developed by Kraig Rovensky.

Photo Courtesy of Life on Mars

O F F E R E D AT $1,443,750 | J O H N L S C OT T. C O M /46572

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