LUXURY MARKET T R E N D S
Luxury Lifestyle
MEETS
Happy New Year from our family to yours! Similar to the last few years, the 2018 luxury housing market is poised for another great year of sales activity intensity. National factors influencing the Northwest luxury market include historically low interest rates and recent highs in the Dow Jones industrial average. Regionally, continued job growth—especially in the tech sector—and six straight years of a red hot real estate market are strong foundations for 2018 to be another landmark year. When the daylight savings clock shifts and spring officially arrives, the number of luxury homes available for purchase will increase. In areas close to the job centers of Seattle and the eastside, the increase in available inventory will result in strong sales activity, especially in the $1-2 million price ranges. I anticipate good luxury activity in the $3-4 million range, and reduced buyer pools for price ranges above $5 million. Looking outward to Snohomish, Pierce and south King counties, I expect good sales activity up to $1.5 million, and select buyers above that price point. Regarding the impact of federal tax reform, consulting with a tax professional is the best way to fully understand how it relates to your personal circumstances. To stay up to date on featured listings and luxury market trends, please follow us on our new social media networks: JLS Exceptional Homes on Facebook, and Exceptional Homes JLS on Instagram. 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
G LOBAL NE T W ORK 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.
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
LUXURY MARKET T R E N D S
FOURTH QUARTER HIGHLIGHTS
614 Number of Sales Eastside
+94.4% Number of Sales Spokane County
Number of Sales Island County
+122.2%
On the cover: Offered at $3,250,000 | Greenacres, WA | johnlscott.com/46391
-28.1% Average Sales Price West Portland
+28.8%
+22.2% Number of Sales Jackson County
Average Days on Market Seattle
234 Number of Sales Snohomish County
2017 Q4 Luxury Market Trends
S e at tl e
Offered at $2,495,000 | johnlscott.com/81502
Q4 2017
Q4 2016
% Change
Number of Sales
397
254
56.30%
Total Dollar Volume
$577,742,108
$373,150,940
54.80%
Average Sales Price
$1,455,270
$1,469,098
-0.90%
Median Sales Price
$1,299,000
$1,300,000
-0.10%
Average Days on Market
23
32
-28.10%
Sold / List Price %
101.00%
100.30%
0.60%
Average Price per SQFT
$479
$455
5.50%
Quarter-end inventory
245
186
31.7%
Offered at $3,199,000 | johnlscott.com/20196
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 Q4 Luxury Market Trends
Wes t Bel l e v ue
Offered at $4,788,000 | johnlscott.com/40221
Q4 2017
Q4 2016
% Change
Number of Sales
86
96
-10.40%
Total Dollar Volume
$234,756,151
$216,311,434
8.50%
Average Sales Price
$2,729,723
$2,253,244
21.10%
Median Sales Price
$2,587,475
$2,168,000
19.30%
Average Days on Market
40
48
-16.70%
Sold / List Price %
97.90%
98.00%
0.00%
Average Price per SQFT
$709
$587
20.70%
Quarter-end inventory
93
81
14.8%
Sold at $3,488,000
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 Q4 Luxury Market Trends
Mer ce r I sl a nd
Sold at $2,950,000
Q4 2017
Number of Sales
Q4 2016
% Change
75
56
33.90%
Total Dollar Volume
$139,607,788
$99,130,488
40.80%
Average Sales Price
$1,861,437
$1,770,187
5.20%
Median Sales Price
$1,554,000
$1,500,000
3.60%
49
38
28.90%
98.60%
97.70%
0.90%
Average Price per SQFT
$539
$511
5.60%
Quarter-end inventory
67
73
-8.2%
Average Days on Market Sold / List Price %
Sold at $2,398,000
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 Q4 Luxury Market Trends
E a stside
Offered at $1,249,995 | johnlscott.com/33893
Q4 2017
Q4 2016
% Change
Number of Sales
614
434
41.50%
Total Dollar Volume
$859,452,053
$604,552,246
42.20%
Average Sales Price
$1,399,759
$1,392,978
0.50%
Median Sales Price
$1,269,394
$1,225,136
3.60%
Average Days on Market
32
44
-27.30%
Sold / List Price %
100.10%
99.30%
0.80%
Average Price per SQFT
$376
$346
8.70%
Quarter-end inventory
426
523
-18.5%
Offered at $1,545,000 | johnlscott.com/36111
The data is for single family residences over $1M in MLS areas 500, 510, 520, 530, 540, 550, 560, 600. Some John L. Scott offices are independently owned and 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 Q4 Luxury Market Trends
King Count y Cond o
Sold for $1,600,000
Q4 2017
Q4 2016
% Change
Number of Sales
83
73
13.70%
Total Dollar Volume
$118,493,412
$119,711,091
-1.00%
Average Sales Price
$1,427,631
$1,639,878
-12.90%
Median Sales Price
$1,290,000
$1,401,592
-8.00%
Average Days on Market
76
60
26.70%
Sold / List Price %
98.90%
97.60%
1.30%
Average Price per SQFT
$676
$831
-18.60%
Quarter-end inventory
99
79
25.3%
Sold for $1,298,888
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 Q4 Luxury Market Trends
Bainbridg e I sl a nd
Sold for $1,150,000
Q4 2017
Q4 2016
% Change
Number of Sales
34
25
36.00%
Total Dollar Volume
$51,533,289
$36,105,402
42.70%
Average Sales Price
$1,515,685
$1,444,216
4.90%
Median Sales Price
$1,316,410
$1,245,000
5.70%
Average Days on Market
42
87
-51.70%
Sold / List Price %
97.70%
97.70%
0.00%
Average Price per SQFT
$437
$384
13.80%
Quarter-end inventory
41
40
2.5%
Sold for $1,317,820
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 Q4 Luxury Market Trends
K itsa p Co unt y
Sold for $2,135,000
Q4 2017
Q4 2016
% Change
Number of Sales
88
51
72.50%
Total Dollar Volume
$102,851,249
$58,761,840
75.00%
Average Sales Price
$1,168,764
$1,152,193
1.40%
Median Sales Price
$955,000
$1,020,000
-6.40%
Average Days on Market
60
76
-21.10%
Sold / List Price %
101.20%
97.90%
3.40%
Average Price per SQFT
$356
$333
7.00%
Quarter-end inventory
121
101
19.8%
Offered at $949,950 | johnlscott.com/45614
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.
WAT ER FR ONT Lake Washington
Q4 2017
Q4 2016
% Change
Number of Sales
15
15
0.00%
Total Dollar Volume
$52,044,100
$48,902,500
6.40%
Average Sales Price
$3,469,607
$3,260,167
6.40%
Median Sales Price
$2,739,100
$3,415,000
-19.80%
Average Days on Market
126
100
26.00%
Sold / List Price %
95.20%
95.20%
0.00%
Average Price per SQFT
$889
$806
10.30%
Quarter-end inventory
46
64
-28.1%
Sold for $2,398,000
Offered at $2,350,000 | johnlscott.com/26404
2017 Q4 Luxury Market Trends
Lake Sammamish
Pending at $1,445,000 | johnlscott.com/52315
Q4 2016
% Change
Number of Sales
15
15
0.00%
Total Dollar Volume
$35,520,000
$36,740,920
-3.30%
Average Sales Price
$2,368,000
$2,449,395
-3.30%
Median Sales Price
$2,288,000
$1,900,000
20.40%
Average Days on Market
46
61
-24.60%
Sold / List Price %
97.40%
101.00%
-3.50%
Average Price per SQFT
$675
$556
21.20%
Quarter-end inventory
18
25
-28.0%
King County
Sold for $3,200,000
Q4 2017
Q4 2017
Q4 2016
% Change
Number of Sales
62
52
19.20%
Total Dollar Volume
$145,638,490
$126,912,408
14.80%
Average Sales Price
$2,349,008
$2,440,623
-3.80%
Median Sales Price
$1,912,500
$1,857,500
3.00%
Average Days on Market
76
89
-14.60%
Sold / List Price %
95.80%
97.70%
-1.90%
Average Price per SQFT
$624
$611
2.10%
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 Q4 Luxury Market Trends
Pier ce Co un t y
Offered at $2,345,000 | johnlscott.com/34995
Q4 2017
Q4 2016
% Change
Number of Sales
105
76
38.20%
Total Dollar Volume
$107,962,526
$75,244,020
43.50%
Average Sales Price
$1,028,215
$990,053
3.90%
Median Sales Price
$905,000
$880,000
2.80%
Average Days on Market
92
102
-9.80%
Sold / List Price %
96.00%
97.20%
-1.30%
Average Price per SQFT
$249
$225
10.60%
Quarter-end inventory
277
233
18.9%
Offered at $2,595,000 | johnlscott.com/40546
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 Q4 Luxury Market Trends
South King Co un t y
Offered at $1,160,000 | johnlscott.com/46555
Q4 2017
Q4 2016
% Change
Number of Sales
86
56
53.60%
Total Dollar Volume
$78,484,435
$56,325,603
39.30%
Average Sales Price
$912,610
$1,005,814
-9.30%
Median Sales Price
$866,900
$863,500
0.40%
Average Days on Market
67
94
-28.70%
Sold / List Price %
98.00%
96.90%
1.10%
Average Price per SQFT
$243
$228
6.30%
Quarter-end inventory
178
171
4.1%
Pending at $1,250,000 | johnlscott.com/30570
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.
2017 Q4 Luxury Market Trends
Snohom ish Count y
Offered at $1,149,997 | johnlscott.com/28563
Q4 2017
Q4 2016
% Change
Number of Sales
234
133
75.90%
Total Dollar Volume
$223,670,528
$131,566,184
70.00%
Average Sales Price
$955,857
$989,219
-3.40%
Median Sales Price
$864,975
$865,000
0.00%
Average Days on Market
43
51
-15.70%
Sold / List Price %
99.00%
98.20%
0.80%
Average Price per SQFT
$280
$257
9.00%
Quarter-end inventory
327
207
58.0%
Sold for $1,120,000
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 Q4 Luxury Market Trends
I sl a nd Count y
Offered at $2,900,000 | johnlscott.com/27786
Q4 2017
Q4 2016
% Change
Number of Sales
35
18
94.40%
Total Dollar Volume
$33,837,100
$18,138,520
86.50%
Average Sales Price
$966,774
$1,007,696
-4.10%
Median Sales Price
$895,000
$902,000
-0.80%
Average Days on Market
82
112
-26.80%
Sold / List Price %
95.80%
96.20%
-0.40%
Average Price per SQFT
$329
$300
9.70%
Quarter-end inventory
311
216
44.0%
Sold for $1,200,000
This 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.
2017 Q4 Luxury Market Trends
Spoka ne Co unt y
Offered at $929,000 | johnlscott.com/91478
Q4 2017
Q4 2016
% Change
Number of Sales
20
9
122.20%
Total Dollar Volume
$20,416,721
$7,563,730
169.90%
Average Sales Price
$1,020,836
$840,414
21.50%
Median Sales Price
$891,000
$796,230
11.90%
Average Days on Market
71
106
-33.00%
Sold / List Price %
91.70%
100.40%
-8.70%
Average Price per SQFT
$194
$192
1.20%
Quarter-end inventory
107
85
25.9%
Offered at $1,275,000 | johnlscott.com/28946
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 Q4 Luxury Market Trends
K ootenai Co unt y
Offered at $1,600,000 | johnlscott.com/47561
Q4 2017
Q4 2016
% Change
Number of Sales
46
28
64.30%
Total Dollar Volume
$52,624,813
$30,771,940
71.00%
Average Sales Price
$1,169,440
$1,098,998
6.40%
Median Sales Price
$950,000
$921,250
3.10%
Average Days on Market
105
108
-2.80%
Sold / List Price %
91.30%
97.00%
-5.90%
Average Price per SQFT
$252
$275
-8.50%
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 Q4 Luxury Market Trends
Cl a r k Co unt y
Offered at $929,000 | johnlscott.com/45481
Q4 2017
Q4 2016
% Change
Number of Sales
57
41
39.00%
Total Dollar Volume
$55,993,130
$47,738,655
17.30%
Average Sales Price
$982,336
$1,164,357
-15.60%
Median Sales Price
$825,000
$900,000
-8.30%
Average Days on Market
70
76
-7.90%
Sold / List Price %
95.60%
98.80%
-3.30%
Average Price per SQFT
$237
$251
-5.70%
Quarter-end inventory
203
166
22.3%
Offered at $799,500 | johnlscott.com/71998
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 Q4 Luxury Market Trends
Ea s t Portl a nd
Offered at $1,100,000 | johnlscott.com/27433
Q4 2017
Q4 2016
% Change
Number of Sales
146
152
-3.90%
Total Dollar Volume
$218,722,626
$226,142,033
-3.30%
Average Sales Price
$1,498,100
$1,487,777
0.70%
Median Sales Price
$1,300,000
$1,295,000
0.40%
Average Days on Market
65
87
-25.30%
Sold / List Price %
95.30%
96.20%
-1.00%
Average Price per SQFT
$348
$336
3.80%
Quarter-end inventory
442
349
26.6%
Offered at $1,195,000 | johnlscott.com/46763
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 Q4 Luxury Market Trends
W est Portl a nd
Offered at $950,000 | johnlscott.com/23001
Q4 2017
Q4 2016
% Change
Number of Sales
16
9
77.80%
Total Dollar Volume
$24,254,000
$10,594,998
128.90%
Average Sales Price
$1,515,875
$1,177,222
28.80%
Median Sales Price
$1,075,000
$1,080,000
-0.50%
Average Days on Market
63
76
-17.10%
Sold / List Price %
95.20%
96.50%
-1.40%
Average Price per SQFT
$348
$257
35.60%
Quarter-end inventory
79
66
19.7%
Offered at $950,000 | johnlscott.com/23001
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 Q4 Luxury Market Trends
Be nd
Offered at $1,389,000 | johnlscott.com/15959
Q4 2017
Q4 2016
% Change
Number of Sales
44
36
22.20%
Total Dollar Volume
$56,750,698
$44,495,117
27.50%
Average Sales Price
$1,289,789
$1,235,975
4.40%
Median Sales Price
$1,187,500
$1,003,750
18.30%
Average Days on Market
148
128
15.60%
Sold / List Price %
94.90%
95.60%
-0.70%
Average Price per SQFT
$329
$318
3.50%
Quarter-end inventory
311
216
44.0%
Offered at $1,150,000 | johnlscott.com/66674
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 Q4 Luxury Market Trends
Ja ck son Co unt y
Offered at $2,500,000 | johnlscott.com/45604
Q4 2017
Q4 2016
% Change
Number of Sales
11
9
22.20%
Total Dollar Volume
$15,202,000
$10,496,554
44.80%
Average Sales Price
$1,382,000
$1,166,284
18.50%
Median Sales Price
$1,180,000
$1,100,000
7.30%
Average Days on Market
119
114
4.40%
Sold / List Price %
96.00%
94.80%
1.30%
Average Price per SQFT
$342
$282
20.90%
Quarter-end inventory
188
56
235.7%
Offered at $2,450,000 | johnlscott.com/43672
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
WE CAN INTRODUCE YOU
TO THE WORLD
TORTOLA, BRITISH VIRGIN ISLANDS | $7,750,000 | WEB ID: ATMV
I
Luxury Portfolio International,® our global marketing partner: • Makes over 40,000 introductions to global consumers each year • Represents the largest worldwide network of independent brokers • Markets over $54 billion of global luxury property in 55+ countries
VISIT EXCEPTIONALHOMESJLS.COM GRAND CAYMAN, CAYMAN ISLANDS $4,950,000 WEB ID: GIQV