LUXURY MARKET T R E N D S
Luxury Lifestyle
MEETS
T
he seasons are changing! With the arrival of fall, we tend to see new listings start to decrease in many of our luxury markets, but after a competitive summer season, there are still many motivated buyers which can make this a great time to list your home. Our Brokers offer the highest level of personal representation as competent, trusted advisors and advocates for our clients. We also leverage our relationships with other brokerages to make sure you have the competitive edge you need to be successful, whether you’re selling or buying a home. In 1931 my grandfather started John L. Scott Real Estate in Downtown Seattle. He had a vision of delivering concierge level of service by putting clients first. Today we’ve grown to over 110 offices and more than 3,200 broker associates in Washington, Oregon, Idaho, and California and can attribute our success to the fact that, even after 86 years in the business, we still hold tight to my grandfather’s vision through our core value of “Living Life as a Contribution™” in every facet of life: at home, work, and at play. At John L. Scott Real Estate we believe our clients live exceptional lives, and they deserve Exceptional Homes.
J. Lennox Scott Chairman and CEO John L. Scott Real Estate
GLOBAL NE T W OR K John L. Scott & Leading RE Sold $62 Billion More Homes I N 2 0 1 6 T H A N O U R C LO S E S T C O M P E T I TO R Source: LeadingRE
John L. Scott is a founding member of the international organization Leading Real Estate Companies of the World. Together, we outrank all other companies in home sales by volume and through their luxury division, Luxury Portfolio International, we connect affluent buyers and sellers around the world. This exclusive network provides national and international exposure for your home. Only a few companies can provide this level of global exposure and only the top companies can earn membership in this network.
LUXURY MARKET T R E N D S
THIRD QUARTER HIGHLIGHTS
713 Number of Sales Eastside
+110.5% Number of Sales Spokane County
Number of Sales Clark County
+50.0%
On the cover: Pending at $1,850,000 | Lakewood, WA | johnlscott.com/45767
-43.9% Average Days on Market West Portland
Average Days on Market Pierce County
-68.8%
124 304 Number of Sales King County Waterfront
Number of Sales Snohomish County
2017 Q3 Luxury Market Trends
S e at tl e
Offered at $1,295,000 | johnlscott.com/69986
Q3 2017
Q3 2016
% Change
Number of Sales
444
310
43.20%
Total Dollar Volume
$653,070,711
$487,587,841
33.90%
Average Sales Price
$1,470,880
$1,572,864
-6.50%
Median Sales Price
$1,279,500
$1,300,000
-1.60%
Average Days on Market
22
28
-21.40%
Sold / List Price %
102.80%
100.30%
2.40%
Average Price per SQFT
$480
$472
1.70%
Quarter-end inventory
245
186
31.7%
Offered at $1,195,000 | johnlscott.com/50215
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.
2017 Q3 Luxury Market Trends
Wes t Bel l e v ue
Sold at $6,300,000
Q3 2017
Q3 2016
% Change
Number of Sales
115
107
7.50%
Total Dollar Volume
$352,691,027
$255,081,376
38.30%
Average Sales Price
$3,066,878
$2,383,938
28.60%
Median Sales Price
$2,499,990
$2,125,000
17.60%
Average Days on Market
47
37
27.00%
Sold / List Price %
95.80%
97.30%
-1.60%
Average Price per SQFT
$776
$601
29.20%
Quarter-end inventory
93
81
14.8%
Pending at $3,250,000 | johnlscott.com/57988
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.
2017 Q3 Luxury Market Trends
Mer ce r I sl a nd
Pending at $2,398,000 | johnlscott.com/68790
Q3 2017
Number of Sales 80
Q3 2016
% Change
82
-2.40%
Total Dollar Volume $146,142,150
$150,356,756
-2.80%
Average Sales Price $1,826,777
$1,833,619
-0.40%
Median Sales Price $1,537,500
$1,462,500
5.10%
31
35.50%
97.70%
2.30%
Average Price per SQFT $529
$528
0.20%
Quarter-end inventory 67
73
-8.2%
Average Days on Market 42 Sold / List Price % 100.00%
Offered at $2,800,000 | johnlscott.com/66262
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.
2017 Q3 Luxury Market Trends
E a stside
Pending at $2,450,000 | johnlscott.com/36207
Q3 2017
Q3 2016
% Change
Number of Sales
713
442
61.30%
Total Dollar Volume
$990,509,693
$613,537,945
61.40%
Average Sales Price
$1,389,214
$1,388,095
0.10%
Median Sales Price
$1,250,000
$1,230,000
1.60%
Average Days on Market
22
32
-31.30%
Sold / List Price %
101.30%
99.90%
1.40%
Average Price per SQFT
$380
$359
5.70%
Quarter-end inventory
426
523
-18.5%
Offered at $2,095,000 | johnlscott.com/62188
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.
2017 Q3 Luxury Market Trends
King Count y Cond o
Sold for $1,257,000
Q3 2017
Q3 2016
% Change
Number of Sales
72
151
-52.30%
Total Dollar Volume
$108,280,755
$224,181,283
-51.70%
Average Sales Price
$1,503,899
$1,484,644
1.30%
Median Sales Price
$1,384,500
$1,297,400
6.70%
Average Days on Market
40
40
0.00%
Sold / List Price %
98.40%
99.20%
-0.80%
Average Price per SQFT
$758
$869
-12.80%
Quarter-end inventory
99
79
25.3%
Pending at $1,600,000 | johnlscott.com/31359
This data is for condos over $1M in King County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
Bainbridg e I sl a nd
Offered at $1,175,000 | johnlscott.com/76717
Q3 2017
Q3 2016
% Change
Number of Sales
48
30
60.00%
Total Dollar Volume
$76,927,890
$42,310,500
81.80%
Average Sales Price
$1,602,664
$1,410,350
13.60%
Median Sales Price
$1,325,000
$1,232,500
7.50%
Average Days on Market
48
52
-7.70%
Sold / List Price %
98.40%
97.60%
0.80%
Average Price per SQFT
$432
$389
11.00%
Quarter-end inventory
41
40
2.5%
Sold at $1,575,000
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.
2017 Q3 Luxury Market Trends
K itsa p Co unt y
Offered at $865,000 | johnlscott.com/65741
Q3 2017
Q3 2016
% Change
Number of Sales
133
76
75.00%
Total Dollar Volume
$155,052,445
$87,688,250
76.80%
Average Sales Price
$1,165,808
$1,153,793
1.00%
Median Sales Price
$975,000
$1,032,500
-5.60%
Average Days on Market
56
48
16.70%
Sold / List Price %
98.70%
97.80%
0.90%
Average Price per SQFT
$351
$327
7.10%
Quarter-end inventory
121
101
19.8%
Offered at $1,598,000 | johnlscott.com/82167
This data is for single family residences over $750K in Kitsap County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
Pier ce Co un t y
Pending at $1,850,000 | johnlscott.com/45767
Q3 2017
Q3 2016
% Change
Number of Sales
123
78
57.70%
Total Dollar Volume
$129,309,754
$75,634,604
71.00%
Average Sales Price
$1,051,299
$969,674
8.40%
Median Sales Price
$875,000
$880,000
-0.60%
Average Days on Market
55
98
-43.90%
Sold / List Price %
101.30%
95.90%
5.60%
Average Price per SQFT
$249
$222
12.10%
Quarter-end inventory
277
233
18.9%
Offered at $999,950 | johnlscott.com/85073
This data is for single family residences over $750K in Pierce County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
South King Co un t y
Offered at $1,450,000 | johnlscott.com/43911
Q3 2017
Q3 2016
% Change
Number of Sales
102
57
78.90%
Total Dollar Volume
$98,766,298
$54,124,552
82.50%
Average Sales Price
$968,297
$949,554
2.00%
Median Sales Price
$876,950
$881,500
-0.50%
Average Days on Market
57
60
-5.00%
Sold / List Price %
97.80%
97.20%
0.60%
Average Price per SQFT
$256
$241
6.30%
Quarter-end inventory
178
171
4.1%
Offered at $1,095,000 | johnlscott.com/41945
This data is for single family residences over $750K in MLS Areas 100, 110, 120, 130, 300, 310, 320, 330, 340, 350, 360. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
WAT ER FR ONT Lake Washington
Q3 2017
Q3 2016
% Change
Number of Sales
40
35
14.30%
Total Dollar Volume
$179,276,100
$138,386,380
29.50%
Average Sales Price
$4,481,903
$3,953,897
13.40%
Median Sales Price
$3,165,000
$3,500,000
-9.60%
Average Days on Market
77
83
-7.20%
Sold / List Price %
92.10%
95.90%
-4.00%
Average Price per SQFT
$968
$934
3.60%
Quarter-end inventory
46
64
-28.1%
Offered at $3,495,000 | johnlscott.com/17187
Offered at $1,445,000 | johnlscott.com/52315
Sold on Lake W
Washington
2017 Q3 Luxury Market Trends
Lake Sammamish
Offered at $2,995,000 | johnlscott.com/73512
Q3 2016
% Change
Number of Sales
22
17
29.40%
Total Dollar Volume
$47,692,708
$39,782,000
19.90%
Average Sales Price
$2,167,850
$2,340,118
-7.40%
Median Sales Price
$2,000,000
$2,200,000
-9.10%
Average Days on Market
37
34
8.80%
Sold / List Price %
99.00%
98.00%
1.00%
Average Price per SQFT
$623
$666
-6.50%
Quarter-end inventory
18
25
-28.0%
King County
Pending at $3,488,000 | johnlscott.com/71293
Q3 2017
Q3 2017
Q3 2016
% Change
Number of Sales
124
87
42.50%
Total Dollar Volume
$328,037,702
$244,707,830
34.10%
Average Sales Price
$2,645,465
$2,812,734
-5.90%
Median Sales Price
$1,800,000
$2,250,000
-20.00%
Average Days on Market
57
62
-8.10%
Sold / List Price %
94.90%
96.60%
-1.70%
Average Price per SQFT
$664
$729
-8.90%
Quarter-end inventory
152
162
-6.2%
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.
2017 Q3 Luxury Market Trends
Snohom ish Count y
Pending at $900,000 | johnlscott.com/70038
Q3 2017
Q3 2016
% Change
Number of Sales
304
144
111.10%
Total Dollar Volume
$284,063,197
$141,597,210
100.60%
Average Sales Price
$934,418
$983,314
-5.00%
Median Sales Price
$840,000
$860,124
-2.30%
Average Days on Market
36
47
-23.40%
Sold / List Price %
99.70%
98.20%
1.50%
Average Price per SQFT
$273
$257
6.30%
Quarter-end inventory
327
207
58.0%
Pending at $1,099,950 | johnlscott.com/55914
This data is for single family residences over $750K in Snohomish County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
Spoka ne Co unt y
Offered at $1,689,000 | johnlscott.com/22316
Q3 2017
Q3 2016
% Change
Number of Sales
24
16
50.00%
Total Dollar Volume
$21,804,478
$15,364,017
41.90%
Average Sales Price
$908,520
$960,251
-5.40%
Median Sales Price
$843,500
$912,500
-7.60%
Average Days on Market
98
124
-21.00%
Sold / List Price %
96.20%
91.70%
4.90%
Average Price per SQFT
$164
$176
-6.70%
Quarter-end inventory
107
85
25.9%
Offered at $1,275,000 | johnlscott.com/99557
This data is for single family residences over $750K in Spokane County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
K ootenai Co unt y
Offered at $1,939,000 | johnlscott.com/86971
Q3 2017
Q3 2016
% Change
Number of Sales
40
31
29.00%
Total Dollar Volume
$45,149,350
$38,310,000
17.90%
Average Sales Price
$1,128,734
$1,235,806
-8.70%
Median Sales Price
$857,600
$930,000
-7.80%
Average Days on Market
105
78
34.60%
Sold / List Price %
92.20%
93.60%
-1.50%
Average Price per SQFT
$289
$312
-7.30%
Quarter-end inventory
379
213
77.99%
Offered at $1,295,000 | johnlscott.com/62930
This data is for single family residences over $750K in Kootenai County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
Cl a r k Co unt y
Offered at $799,500 | johnlscott.com/71998
Q3 2017
Q3 2016
% Change
Number of Sales
80
38
110.50%
Total Dollar Volume
$80,733,759
$37,596,483
114.70%
Average Sales Price
$1,009,172
$989,381
2.00%
Median Sales Price
$870,000
$845,000
3.00%
Average Days on Market
76
83
-8.40%
Sold / List Price %
97.10%
95.90%
1.20%
Average Price per SQFT
$233
$221
5.40%
Quarter-end inventory
203
166
22.3%
Offered at $849,000 | johnlscott.com/79723
This data is for single family residences over $750K in Clark County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
Ea s t Portl a nd
Offered at $1,049,900 | johnlscott.com/15746
Q3 2017
Q3 2016
% Change
Number of Sales
180
181
-0.60%
Total Dollar Volume
$265,035,944
$257,992,461
2.70%
Average Sales Price
$1,472,422
$1,425,373
3.30%
Median Sales Price
$1,295,000
$1,295,000
0.00%
Average Days on Market
49
36
36.10%
Sold / List Price %
96.70%
99.20%
-2.50%
Average Price per SQFT
$344
$376
-8.60%
Quarter-end inventory
442
349
26.6%
Offered at $1,090,000 | johnlscott.com/54195
This data is for single family residences over $1M in Clackamas and Multnomah Counties. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
W est Portl a nd
Offered at $1,190,000 | johnlscott.com/32089
Q3 2017
Q3 2016
% Change
Number of Sales
19
18
5.60%
Total Dollar Volume
$23,998,470
$22,120,500
8.50%
Average Sales Price
$1,263,077
$1,228,917
2.80%
Median Sales Price
$1,149,900
$1,155,000
-0.40%
Average Days on Market
29
93
-68.80%
Sold / List Price %
96.10%
95.90%
0.30%
Average Price per SQFT
$268
$272
-1.20%
Quarter-end inventory
79
66
19.7%
Offered at $1,190,000 | johnlscott.com/32089
This data is for single family residences over $1M in Columbia and Washington Counties. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
Be nd
Offered at $1,200,000 | johnlscott.com/66674
Q3 2017
Q3 2016
% Change
Number of Sales
74
42
76.20%
Total Dollar Volume
$87,083,146
$52,715,130
65.20%
Average Sales Price
$1,176,799
$1,255,122
-6.20%
Median Sales Price
$1,100,000
$1,095,000
0.50%
Average Days on Market
106
139
-23.70%
Sold / List Price %
97.90%
97.20%
0.70%
Average Price per SQFT
$346
$329
5.20%
Quarter-end inventory
311
216
44.0%
Sold at $979,000
This data is for single family residences over $900K in Bend, OR. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
2017 Q3 Luxury Market Trends
Ja ck son Co unt y
Pending at $1,095,000 | johnlscott.com/11565
Q3 2017
Q3 2016
% Change
Number of Sales
14
20
-30.00%
Total Dollar Volume
$15,424,000
$30,934,425
-50.10%
Average Sales Price
$1,101,714
$1,546,721
-28.80%
Median Sales Price
$1,004,500
$1,125,000
-10.70%
Average Days on Market
113
206
-45.10%
Sold / List Price %
95.90%
88.70%
8.00%
Average Price per SQFT
$292
$417
-30.00%
Quarter-end inventory
188
56
235.7%
Offered at $749,900 | johnlscott.com/51893
This data is for single family residences over $900K in Jackson County. Some John L. Scott offices are independently owned and operated. All reports presented are based on data supplied by the NWMLS, RMLS, Spokane MLS, and the Central Oregon MLS. Neither the Associations nor the MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Associations or the MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
Luxury Lifestyle
MEETS
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