LUXURY MARKET TRENDS
HAPPY FALL! The luxury market this autumn is still sizzling hot in many of the areas across the John L. Scott network. Some markets saw record third quarter luxury sales activity due to robust buyer demand and the continuation of historically low interest rates. The month of October will have the greatest selection of luxury properties available until next March. Looking ahead, the number of listings will dwindle as fewer people choose to list their homes and the “winter cleanup” of sellers taking their homes off the market occurs before the first of the year. These market conditions will cause the intensity in the market to turn up even further as buyers compete for fewer available listings. We hope you’ll find the information within this report timely and helpful as you look to buy or sell your next home. J. Lennox Scott Chairman and CEO John L. Scott Real Estate
EXCEPTIONAL 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 $2,950,000 | JOHNLSCOTT.COM/50211 ON THE RIGHT: OFFERED AT $1,300,000 | JOHNLSCOTT.COM/68762
Luxury
LI V E Y O 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
Total Inventory
$58
BILLION
80%
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
JOHN L. SCOT T LUXURY SPECIALISTS
SCHOLARS OF THE MARKET
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.
THE STEWART GROUP Gig Harbor
The Gig Harbor luxury market continues to remain very competitive, however, we are starting to see a slight correction in the market as a whole. As we move into the fall and winter months we are seeing a downshift in the number of new listings coming on the market, yet the average days on market remains fairly low. Luxury home interest is still incredibly strong and we are continuing to experience buyers coming in at list price and beyond, with multiple offers and often including waived contingencies.
MARTIN WEISS Bellevue-Issaquah
The luxury market remained extremely robust on the Eastside. Homes well prepared for market (clean, staging, great photo/video) and priced competitively continued to see multiple offers and escalating prices. The fall always brings some opportunity for buyers. As new resale listings dwindle so do the amount of buyers competing in the marketplace. Even though less listings means less new opportunities the fall always brings dispersed buyer energy and the chance to compete with less buyers. Now is the best time to jump in before the lack of listings to begin the year returns us to a more frenzied spring market.
2021 Q3 LU X U R Y M A R K E T T R E N D S
DA N IELLE SN OW AN D NI CO LE F I T CH Bend
The luxury market, over $1 million, remains strong. The amount of buyers have slowed and they are a bit more shrewd in their negotiating. To stay ahead of the market, I’ve been encouraging price drops with my sellers.
SAM M A NS O UR Lynnwood Center
I’ve noticed that the luxury market has performed as well or in some cases better than the average price market. I believe a lot of pent-up demand from buyers that had been hired here but had not yet moved here is starting to impact the luxury market. I believe it’s becoming slightly easier for buyers as we enter fall, as buyers are not having to compete with as many offers as before. I believe part of this is just cyclical/seasonal though, and I am anticipating the luxury market to continue to boom next year.
PUGET SOUND
2021 Q3 LU X U R Y M A R K E T T R E N D S
THIRD QUARTER
HIGHLIGHTS
S O L D | J O H N L S C OT T. C O M /66546
In the third quarter of 2021, luxury sales activity in Seattle, West Bellevue and on the Eastside continued to break records. Price appreciation and strong buyer demand have been hallmarks of the local luxury market in the last quarter.
S E AT T L E Q3 2021
Q3 2020
% Change
Number of Sales
1,156
881
31.2%
Total Dollar Volume
$1,834,410,861
$1,363,546,011
34.5%
Average Sales Price
$1,586,861
$1,547,725
2.5%
Median Sales Price
$1,362,500
$1,310,000
4.0%
Average Days on Market
43
48
-10.4%
Sold / List Price %
105.1%
101.3%
3.8%
Average Price per SQFT
$575
$528
9.0%
Quarter-end inventory
239
440
-45.7%
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 / 4 0 2 1 4
WEST BELLEVUE Q3 2021
Q3 2020
% Change
Number of Sales
115
101
13.8%
Total Dollar Volume
$485,743,250
$332,319,164
46.1%
Average Sales Price
$4,223,854
$3,290,289
28.3%
Median Sales Price
$3,400,000
$2,685,000
26.6%
Average Days on Market
54
67
-19.4%
Sold / List Price %
101.3%
97.5%
3.9%
Average Price per SQFT
$1,097
$842
30.2%
Quarter-end inventory
25
59
-57.6%
The intensity of the luxury market has increased in recent years locally, as evidenced by looking at the percentage of homes selling within the first 30 days they’re listed. When looking at the $2 to $3 million price range on the Eastside, 19 percent of new listings sold in the first 30 days in 2018. This year, that figure nearly quadrupled with 75 percent of homes selling in the first 30 days.
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.
2021 Q3 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 /30833
MERCER ISLAND Q3 2021
Q3 2020
% Change
Number of Sales
111
117
-5.1%
Total Dollar Volume
$353,113,541
$262,301,908
34.6%
Average Sales Price
$3,181,203
$2,241,897
41.9%
Median Sales Price
$2,425,000
$1,750,000
38.5%
Average Days on Market
42
80
-47.5%
Sold / List Price %
104.0%
99.3%
4.7%
Average Price per SQFT
$867
$636
36.4%
Quarter-end inventory
16
32
-50.0%
Buyer demand is also strong on Mercer Island, but sales activity is slightly lower than it was last year due to the limited number of available homes. Mercer Island, West Bellevue and Seattle are all virtually sold out as buyers seek to put down roots locally.
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 / 5 0 4 3 4
EASTSIDE Q3 2020
% Change
1,966
1,350
45.6%
Total Dollar Volume
$3,819,581,274
$2,292,666,376
66.6%
Average Sales Price
$1,942,819
$1,698,271
14.4%
Median Sales Price
$1,556,550
$1,380,000
12.8%
Average Days on Market
47
70
-32.8%
Sold / List Price %
107.3%
99.8%
7.5%
Average Price per SQFT
$625
$486
28.7%
Quarter-end inventory
197
422
-53.3%
DAYS ON MARKE T
Number of Sales
32.8%
NUMBER OF SALES
Q3 2021
45.6%
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.
2021 Q3 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 $1,700,000 | J O H N L S C OT T. C O M /1 9554
KING COUNTY CONDO Q3 2020
% Change
202
166
21.6%
Total Dollar Volume
$312,865,962
$257,004,881
21.7%
Average Sales Price
$1,548,841
$1,548,222
N/A
Median Sales Price
$1,315,000
$1,306,500
0.7%
Average Days on Market
71
77
-7.7%
Sold / List Price %
100.0%
98.0%
2.1%
Average Price per SQFT
$843
$778
8.3%
Quarter-end inventory
108
212
-49.1%
DAYS ON MARKE T
PRICE PER SQUARE FOOT
Number of Sales
Q3 2021
7.7%
8.3%
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 / 68 6 7 3
S O U T H K I N G CO U N T Y Q3 2021
Q3 2020
% Change
Number of Sales
730
267
173.4%
Total Dollar Volume
$692,637,387
$255,605,483
171.0%
Average Sales Price
$948,818
$957,324
-0.9%
Median Sales Price
$860,000
$857,000
0.4%
Average Days on Market
16
37
-56.8%
Sold / List Price %
103.3%
99.8%
3.5%
Average Price per SQFT
$318
$275
15.5%
Quarter-end inventory
234
121
93.4%
IN Q3, WE SAW A 173.4% 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.
2021 Q3 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 $4,445,000 | J O H N L S C OT T. C O M / 55238
PIERCE COUNTY Q3 2021
Q3 2020
% Change
Number of Sales
671
387
73.4%
Total Dollar Volume
$667,442,045
$385,206,925
73.3%
Average Sales Price
$994,698
$995,367
-0.1%
Median Sales Price
$880,000
$874,500
0.6%
Average Days on Market
20
53
-62.3%
Sold / List Price %
102.7%
99.1%
3.6%
Average Price per SQFT
$313
$279
12.2%
Quarter-end inventory
285
243
17.3%
THE AVERAGE DAYS ON MARKET DECREASED BY 62.3% IN Q3 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 $1,500,000 | J O H N L S C OT T. C O M /14045
KITSAP COUNTY Q3 2021
Q3 2020
% Change
Number of Sales
286
220
30.0%
Total Dollar Volume
$357,639,612
$281,130,108
27.2%
Average Sales Price
$1,250,488
$1,277,864
-2.1%
Median Sales Price
$990,000
$1,052,750
-6.0%
Average Days on Market
16
35
-54.3%
Sold / List Price %
105.9%
99.7%
6.2%
Average Price per SQFT
$439
$393
11.7%
Quarter-end inventory
93
90
3.3%
OVERALL, THE AVERAGE PRICE PER SQUARE FOOT INCREASED 11.7% 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.
2021 Q3 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 / 22932
BAINBRIDGE ISLAND Q3 2021
Q3 2020
% Change
Number of Sales
93
88
5.6%
Total Dollar Volume
$165,220,533
$154,091,300
7.2%
Average Sales Price
$1,776,565
$1,751,038
1.5%
Median Sales Price
$1,600,000
$1,354,475
18.1%
Average Days on Market
37
59
-37.2%
Sold / List Price %
108.4%
100.1%
8.3%
Average Price per SQFT
$584
$497
17.5%
Quarter-end inventory
10
28
-64.3%
In 2021, there are considerably fewer homes available on Bainbridge Island than there were in previous years. Accordingly, luxury buyers looking to purchase on Bainbridge Island are patiently waiting for each new property to come on the market in the hopes of buying a piece of the island lifestyle. The high demand and low inventory conditions on Bainbridge Island is creating upward pricing pressure, which means the sale prices of homes have been gradually moving up.
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.
S O L D | J O H N L S C OT T. C O M / 60 0 2 2
SNOHOMISH COUNTY Q3 2021
Q3 2020
% Change
Number of Sales
1,638
761
115.2%
Total Dollar Volume
$1,623,209,709
$734,272,157
121.1%
Average Sales Price
$990,971
$964,878
2.7%
Median Sales Price
$902,750
$860,000
5.0%
Average Days on Market
10
27
-63.0%
Sold / List Price %
105.6%
100.4%
5.2%
Average Price per SQFT
$378
$305
23.9%
Quarter-end inventory
335
208
61.1%
Q3 SAW A 63.0% 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.
2021 Q3 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 / 48248
ISLAND COUNTY Q3 2021
Q3 2020
% Change
Number of Sales
144
112
28.6%
Total Dollar Volume
$172,061,371
$122,383,757
40.6%
Average Sales Price
$1,194,871
$1,092,712
9.3%
Median Sales Price
$939,500
$925,000
1.6%
Average Days on Market
21
74
-71.6%
Sold / List Price %
104.4%
98.8%
5.7%
Average Price per SQFT
$424
$381
11.1%
Quarter-end inventory
48
48
N/A
OVERALL, THE NUMBER OF SALES INCREASED BY 28.6% 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.
LUXURY WATERFRONT LAKE WASHINGTON Q3 2021
Q3 2020
% Change
Number of Sales
75
73
2.7%
Total Dollar Volume
$331,513,610
$285,134,936
16.3%
Average Sales Price
$4,420,181
$3,905,958
13.2%
Median Sales Price
$2,778,010
$2,645,000
5.0%
Average Days on Market
28
51
-45.1%
Sold / List Price %
98.4%
97.7%
0.6%
Average Price per SQFT
$1,249
$1,027
21.7%
Quarter-end inventory
22
155
-85.8%
Q3 2021
Q3 2020
LAKE SAMMAMISH % Change
Number of Sales
40
42
-4.8%
Total Dollar Volume
$98,099,196
$87,327,000
12.3%
Average Sales Price
$2,452,480
$2,079,214
18.0%
Median Sales Price
$1,872,500
$1,712,500
9.3%
Average Days on Market
12
38
-68.4%
Sold / List Price %
105.1%
99.6%
5.5%
Average Price per SQFT
$748
$589
27.0%
Quarter-end inventory
8
22
-63.6%
KING COUNTY Q3 2021
Q3 2020
% Change
Number of Sales
285
240
18.8%
Total Dollar Volume
$775,997,556
$599,624,143
29.4%
Average Sales Price
$2,722,798
$2,498,434
9.0%
Median Sales Price
$1,800,000
$1,700,000
5.9%
Average Days on Market
18
44
-59.1%
Sold / List Price %
101.7%
98.4%
3.4%
Average Price per SQFT
$822
$665
23.7%
Quarter-end inventory
68
51
33.3%
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.
2021 Q3 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 /79397
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2021 Q3 LU X U R Y M A R K E T T R E N D S
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SARA POE HARDERSEN 253-632-7453 sarapoe@johnlscott.com
EASTERN WA S H I N G TO N & IDAHO
2021 Q3 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 $850,000 | J O H N L S C OT T. C O M / 53767
COEUR D’ALENE, IDAHO Q3 2021
Q3 2020
% Change
Number of Sales
252
212
18.9%
Total Dollar Volume
$390,307,077
$278,782,498
40.0%
Average Sales Price
$1,548,838
$1,315,012
17.8%
Median Sales Price
$976,840
$1,000,000
-2.3%
Average Days on Market
30
69
-56.5%
Sold / List Price %
94.8%
95.7%
-0.9%
Average Price per SQFT
$502
$354
42.0%
Quarter-end inventory
235
141
66.7%
SALES IN COEUR D’ALENE INCREASED 18.9% COMPARED WITH THE SAME PERIOD IN 2020
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.
2021 Q3 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 $4,500,000 | J O H N L S C OT T. C O M /13951
SPOKANE COUNTY Q3 2021
Q3 2020
% Change
Number of Sales
209
76
175.0%
Total Dollar Volume
$199,243,778
$71,172,173
179.9%
Average Sales Price
$953,320
$936,476
1.8%
Median Sales Price
$870,000
$842,500
3.3%
Average Days on Market
19
36
-47.2%
Sold / List Price %
100.5%
95.5%
5.3%
Average Price per SQFT
$234
$200
17.4%
Quarter-end inventory
164
103
59.2%
THE NUMBER OF SALES IN SPOKANE COUNT Y INCREASED 175.0% COMPARED WITH THE SAME PERIOD IN 2020
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
2021 Q3 LU X U R Y M A R K E T T R E N D S
THIRD QUARTER
HIGHLIGHTS
OFFERED AT $999,000 | JOHNLSCOTT.COM/33040
In the third quarter of 2021, luxury sales activity in the Portland Metro area continued to break records. The area has a good amount of inventory compared to similar metro areas, which translates to great opportunities for luxury buyers. With the continued historically low interest rates, local market conditions are set up for buyers who wish to price jump into a higher price range than they had previously considered.
PORTLAND METRO Q3 2021
Q3 2020
% Change
Number of Sales
209
138
51.4%
Total Dollar Volume
$284,603,556
$198,986,009
43.0%
Average Sales Price
$1,361,740
$1,441,928
-5.6%
Median Sales Price
$1,200,000
$1,213,750
-1.1%
Average Days on Market
65
81
-19.7%
Sold / List Price %
101.7%
98.0%
3.8%
Average Price per SQFT
$334
$326
2.6%
Quarter-end inventory
145
169
-23.6%
In Lake Oswego and West Linn, the last quarter was the best third quarter on record for local home sales. Sales Activity Intensity™ is frenzy from $750,000 to $1.5 million, surge from $1.5 to $2 million, then healthy above $2 million.
OFFERED AT $1,450,000 | JOHNLSCOTT.COM/18365
LAKE OSWEGO Q3 2021
Q3 2020
% Change
Number of Sales
160
129
24.0%
Total Dollar Volume
$273,420,723
$204,677,643
33.5%
Average Sales Price
$1,708,880
$1,586,648
7.7%
Median Sales Price
$1,449,998
$1,435,000
1.0%
Average Days on Market
62
98
-36.7%
Sold / List Price %
99.4%
96.7%
2.8%
Average Price per SQFT
$397
$364
9.1%
Quarter-end inventory
89
108
-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 Q3 2021
Q3 2020
% Change
Number of Sales
444
379
17.2%
Total Dollar Volume
$538,555,300
$426,373,993
26.3%
Average Sales Price
$1,212,962
$1,124,997
7.8%
Median Sales Price
$1,000,000
$965,000
3.6%
Average Days on Market
42
76
-44.7%
Sold / List Price %
100.8%
98.7%
2.1%
Average Price per SQFT
$460
$356
29.2%
Quarter-end inventory
300
154
94.8%
IN Q3, THE NUMBER OF SALES INCREASED BY 17.2% 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.
2021 Q3 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 / 5 4 2 9 1
In the third quarter, luxury sales in Bend were a bit higher than they were last year, and available inventory was higher in 2021 than in 2020. When reviewing the sales data from the last two years, it’s clear that the luxury market in Bend has really blossomed during this time, with more listings on the market, strong buyer demand and steady price appreciation as well. Bend is appealing to high-net-worth individuals from a variety of backgrounds who are looking to purchase a primary residence or second home in the city known for its fantastic outdoor recreation opportunities.
O F F E R E D AT $1,995,000 | J O H N L S C OT T. C O M /67598
JACKSON COUNTY Q3 2021
Q3 2020
% Change
Number of Sales
120
78
53.8%
Total Dollar Volume
$135,396,554
$77,606,626
74.5%
Average Sales Price
$1,128,305
$994,957
13.4%
Median Sales Price
$902,950
$900,000
0.3%
Average Days on Market
49
111
-55.9%
Sold / List Price %
101.7%
96.4%
5.5%
Average Price per SQFT
$347
$278
24.9%
Quarter-end inventory
156
113
38.1%
THE AVERAGE DAYS ON MARKET DECREASED BY 55.9% IN Q3 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.
2021 Q3 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 /12597
C L A R K CO U N T Y Q3 2021
Q3 2020
% Change
Number of Sales
407
229
77.7%
Total Dollar Volume
$419,829,212
$229,231,618
83.1%
Average Sales Price
$1,031,521
$1,001,011
3.0%
Median Sales Price
$890,000
$861,000
3.4%
Average Days on Market
25
70
-64.3%
Sold / List Price %
99.3%
97.8%
1.6%
Average Price per SQFT
$290
$250
16.4%
Quarter-end inventory
241
176
36.9%
IN Q3 SALES INCREASED 77.7% 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.
An Established Past, An Exciting Future
John L. Scott Real Estate
“
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Thank you to our team members and clients for 90 years of success.
BEVERLY HILLS, CALIFORNIA, USA | $27,000,000 WEB ID: JDIL88
34
- J. Lennox Scott, Chairman and CEO
www.JohnLScott.com
2021 Q3 LU X U R Y M A R K E T T R E N D S
EXCEPTIONAL HOMES IN THE NEWS “Life remains leisurely in Idaho despite rapid luxury market growth” Our very own Tye Scott from Coeur d’Alene was featured in this article on LuxuryPortfolio.com
“$4.5-million North Idaho home designed by HGTV network hits the market” This luxury home, designed by teams from the DIY Network and HGTV, was featured as the Blog Cabin in 2015 and was just listed by Mark Hensley from our Spokane office. The listing has been featured on KREM2 and KTVB.
“John L. Scott Real Estate opens Lake Oswego office” – Lake Oswego Review “Lake Oswego is truly a jewel in the Portland area and provides a perfect home base for our local luxury experts,” said J. Lennox Scott, John L. Scott Real Estate’s chairman and CEO. “Our enhanced luxury focus in the area will just add to our offerings aimed at helping high-net- worth individuals looking to buy or sell.”
S O L D | JOHNLSCOTT.COM/22572
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