Q3 Luxury Market Trends 2021

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

“

“

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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