SW Washington | Coldwell Banker Bain 2021 Q2 Market Report

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SW WASHINGTON 2021 Q2 MARKET REPORT

coldwellbankerbain.com


Helping people buy and sell homes in the Pacific Northwest since 1972, Coldwell Banker Bain is an undisputed market leader, posting nearly $6 billion in sales in 2020. With 32 offices and more than 1,300 brokers in Washington and Oregon, plus a global reach that extends to 92,000 brokers in 43 countries, we’re not only one of the largest Coldwell Banker affiliates in the world, we’re also the most accomplished real estate company in the Northwest. Our commitment to knowledge, expertise and market insights consistently undergirds our reputation for excellence and service. An emphasis on global access in the luxury realm, combined with the power, reach and recognition of the Coldwell Banker brand, allows us to outsell and outperform our rivals, as we elevate the standard for marketing premier properties in the Puget Sound area and the Pacific Northwest. As important to us as business success— we also provide services in property management, commercial real estate, real estate investment and relocation management— is the understanding that real estate is more than just a transaction; it’s a key part of building safe, happy and prosperous lives for our clients, our brokers and their families.


JOHN DEELY executive VP of Operations Reflecting on the second-quarter numbers, John Deely, Coldwell Banker Bain Executive Vice President of Operations, said, “We continue on a trajectory that will keep the Puget Sound region at the top of national lists for one of the hottest housing markets. Prices continue their climb with double digit increases in most of our markets, and inventory on hand at about two weeks in the larger areas. While we’re experiencing a bit of moderating activity in June, rather than that being an indication of a flattening of the market, we believe this is a result of our extreme heat events, a typical summer slowdown as schools let out and people start vacationing, and this year, the reopening of the country and discontinuation of COVID restrictions. The dramatic increase in prices and low inventory just continues in such a way that although we have more inventory coming on the market, it is immediately absorbed because of a demand that simply cannot be met. Affordability, especially for first-time homebuyers, continues to be a concern, and given indications from tech companies like Amazon and Microsoft to leasing large office spaces and hiring thousands of employees going forward in our region, drawing people from higher-priced markets like Silicon Valley who have a lot of money to spend, we don’t see much change in this scenario for buyers in the short term. Additionally, with national data of new household formations showing a shortage of more than 500,000 new homes per year for the entire decade, we have a nationwide shortfall of five million new homes. Without regulatory changes, we will not be able to quickly build our way out of this kind of shortfall. It’s a situation major cities and regions across the country will need to address going forward to ensure availability and affordability of homes.”

2021 Q2 SW WASHINGTON MARKET REPORT

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Q2 2021 MARKET REPORT

DAVID KNODE southwest regional manager of coldwell banker bain Said David Knode, Southwest Regional Manager, “Even in the middle of the pandemic last year we were still listing and selling properties here in Southwest Washington. We found out that we have very resilient buyers, sellers and brokers. Buyers want to buy and sellers want to sell and our brokers helped with those goals. We found a way to take care of our buyers and sellers and get things done. The second quarter of 2021 was no different, the story is about the same: Very low inventory, double digit percentage price increases and the amount of time a house is on the market has fallen dramatically compared to the same time in 2020. Buyers in this market are getting as creative as they possibly can to ‘win the deal.’ Offers often have a clause that affirms that a buyer will pay more for what the house actually appraises. Another trend is buyers waiving their inspection contingencies to make their offer more attractive. These techniques are very risky for buyers to say the least.”

4 2021 Q2 SW WASHINGTON MARKET REPORT


clark county

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

FISHERS LANDING | CAMAS | WASHOUGAL | HEIGHTS-CASCADE PARK BRUSH PRAIRIE | HOCKINSON | ORCHARDS MEDIAN SOLD PRICE (NEAREST $000)

AVERAGE DOM

Fishers Landing

5

$490K

Camas

17

$630K

Washougal

16

$545K

HeightsCascade Park

8

$474K

Brush Prairie Hockinson

19

$536K

16

$549K

Orchards

8

$410K $100K

$200K

$300K

$400K

$500K

$600K

$700K

$800K

NUMBER OF SALES CLOSED

400

2,268

350

CLARK COUNTY SALES CLOSED

395

300 250

330

200 150 100

48

210

Fishers Landing

Camas

92

98

232

50 0

Washougal

HeightsCascade Park

INVENTORY IN UNITS / 06.30.21

Brush Prairie

Hockinson

Orchards

TOTAL CLARK COUNTY INVENTORY / 436

300 250

7

40

28

19

64

56

39

200 -56.2%

-67.2%

-37.8%

-36.7%

-67.5%

-60.6%

-35.0%

Camas

Washougal

HeightsCascade Park

Brush Prairie

Hockinson

Orchards

150

Fishers 100 Landing 50 0

2021 Q2 SW WASHINGTON MARKET REPORT

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clark county

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

RIDGEFIELD | BATTLEGROUND | WOODLAND | LA CENTER / SALMON CREEK | FELIDA | VANCOUVER MEDIAN SOLD PRICE (NEAREST $000)

AVERAGE DOM

Ridgefield

$500K

25

Battleground

$500K

14

400

Woodland 350

10

$573K

300 La Center

28

$663K

250

Salmon 200 Creek

12

$562K

150

Felida

13

$623K

100

50 Vancouver

11

$415K

0

$100K

$200K

$300K

$400K

$500K

$600K

$700K

$800K

NUMBER OF SALES CLOSED 300

2,268

250 200

CLARK COUNTY SALES CLOSED

251

150

193

100

182

40

50

262 90

10

0

Ridgefield

Battleground

Woodland

La Center

INVENTORY IN UNITS / 06.30.21

Salmon Creek

Felida

Vancouver

TOTAL CLARK COUNTY INVENTORY / 436

52

79

14

6

29

12

35

-70.6%

-27.5%

-17.6%

+100%

-55.4%

-61.3%

-35.2%

Ridgefield

Battleground

Woodland

La Center

Salmon Creek

Felida

Vancouver

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cowlitz county

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

BEACON HILL | COLUMBIA HEIGHTS | EAST COUNTY | OUTH COUNTY | NORTHLAKE NORTH KELSO | NORTH COUNTY | OLYMPIC | WEST COUNTY | ST. HELENS MEDIAN SOLD PRICE (NEAREST $000)

AVERAGE DOM

Beacon Hill

10

$385K

Columbia Heights

7

$370K

East County

22

$446K

South County

9

$513K

Northlake

5

$328K

North County

14

$440K

North Kelso

6

$270K

Olympic

13

$331K

West County

27

$450K

St. Helens

7

$285K $100K

$200K

$300K

$400K

$500K

$600K

NUMBER OF SALES CLOSED 60

385

50

53

COWLITZ COUNTY SALES CLOSED

40 30

39

20

23

10

19

16

13

0

Beacon Hill

Columbia Heights

East County

South County

Northlake

INVENTORY IN UNITS / 06.30.21

North County

21

26

North Kelso

Olympic

19

19

West County

St. Helens

TOTAL COWLITZ COUNTY INVENTORY / 102

4

6

4

11

3

17

4

6

8

5

0.0%

+20.0%

0.0%

-26.7%

+50.0%

-37.0%

-50.0%

0.0%

+33.3%

+66.7%

Beacon Hill

Columbia Heights

East County

South County

Northlake

North County

North Kelso

Olympic

West County

St. Helens

2021 Q2 SW WASHINGTON MARKET REPORT

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clark county BATTLEGROUND

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

193

178

+8.4%

MEDIAN SOLD PRICE

$500K

$400K

+25.0%

14

41

-65.9%

102%

99%

+3.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

330

209

+57.9%

MEDIAN SOLD PRICE

$536K

$442K

+21.3%

19

39

-51.3%

103%

99%

+4.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$500K

MEDIAN SOLD PRICE UP +25.0% from 2020

BRUSH PRAIRIE

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

8 2021 Q2 SW WASHINGTON MARKET REPORT

$536K

MEDIAN SOLD PRICE UP +21.3% from 2020


CAMAS

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

210

144

+45.8%

MEDIAN SOLD PRICE

$630K

$517K

+21.9%

17

62

-72.6%

104%

98%

+6.1%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

90

50

+80.0%

MEDIAN SOLD PRICE

$623K

$490K

+27.1%

13

21

-38.1%

105%

99%

+6.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$630K

MEDIAN SOLD PRICE UP +21.9% from 2020

FELIDA

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$623K

MEDIAN SOLD PRICE UP +27.1% from 2020

2021 Q2 SW WASHINGTON MARKET REPORT

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clark county FISHERS LANDING

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

48

49

-2.0%

MEDIAN SOLD PRICE

$490K

$393K

+24.7%

5

14

-64.3%

103%

100%

+3.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

92

76

+21.1%

MEDIAN SOLD PRICE

$474K

$383K

+23.8%

8

40

-80.0%

104%

98%

+6.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$490K

MEDIAN SOLD PRICE UP +24.7% from 2020

HEIGHTS-CASCADE PARK

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

10 2021 Q2 SW WASHINGTON MARKET REPORT

$474K

MEDIAN SOLD PRICE UP +23.8% from 2020


HOCKINSON

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

232

154

+50.6%

MEDIAN SOLD PRICE

$549K

$448K

+22.5%

16

41

-61.0%

102%

99%

+3.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

10

4

+150.0%

MEDIAN SOLD PRICE

$663K

$540K

+22.8%

28

51

-45.1%

99%

98%

+1.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$549K

MEDIAN SOLD PRICE UP +22.5% from 2020

LA CENTER

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$663K

MEDIAN SOLD PRICE UP +22.8% from 2020

2021 Q2 SW WASHINGTON MARKET REPORT 11


clark county ORCHARDS

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

395

320

+23.4%

MEDIAN SOLD PRICE

$410K

$349K

+17.5%

8

19

-57.9%

105%

100%

+5.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

251

135

+85.9%

MEDIAN SOLD PRICE

$500K

$464K

+7.8%

25

45

-44.4%

102%

99%

+3.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$410K

MEDIAN SOLD PRICE UP +17.5% from 2020

RIDGEFIELD

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

12 2021 Q2 SW WASHINGTON MARKET REPORT

$500K

MEDIAN SOLD PRICE UP +7.8% from 2020


SALMON CREEK

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

182

159

+14.5%

MEDIAN SOLD PRICE

$562K

$420K

+33.8%

12

41

-70.7%

103%

99%

+4.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

98

70

+40.0%

MEDIAN SOLD PRICE

$545K

$453K

+20.3%

16

33

-51.5%

103%

98%

+5.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$562K

MEDIAN SOLD PRICE UP +33.8% from 2020

WASHOUGAL

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$545K

MEDIAN SOLD PRICE UP +20.3% from 2020

2021 Q2 SW WASHINGTON MARKET REPORT 13


clark county WOODLAND

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

40

30

+33.3%

MEDIAN SOLD PRICE

$573K

$396K

+44.7%

10

42

-76.2%

101%

98%

+3.1%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

262

207

+26.6%

MEDIAN SOLD PRICE

$415K

$355K

+16.9%

11

30

+63.3%

104%

100%

+4.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$573K

MEDIAN SOLD PRICE UP +44.7% from 2020

VANCOUVER

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

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$415K

MEDIAN SOLD PRICE UP +16.9% from 2020


cowlitz county BEACON HILL

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

23

16

+43.8%

MEDIAN SOLD PRICE

$385K

$268K

+43.7%

10

9

+11.1%

102%

102%

+0.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

19

17

+11.8%

MEDIAN SOLD PRICE

$370K

$305K

+21.3%

7

25

-72.0%

103%

100%

+3.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$385K

MEDIAN SOLD PRICE UP +43.7% from 2020

COLUMBIA HEIGHTS

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$370K

MEDIAN SOLD PRICE UP +21.3% from 2020

2021 Q1 SW WASHINGTON MARKET REPORT 15


cowlitz county EAST COUNTY

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

16

23

-30.4%

MEDIAN SOLD PRICE

$446K

$415K

+7.5%

22

59

-62.7%

99%

99%

+0.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

39

31

+25.8%

MEDIAN SOLD PRICE

$513K

$360K

+42.5%

9

46

-80.4%

101%

98%

+3.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$446K MEDIAN SOLD PRICE UP +7.5% from 2020

KALAMA, SOUTH COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

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$513K

MEDIAN SOLD PRICE UP +42.5% from 2020


NORTHLAKE

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

13

4

+225.0%

MEDIAN SOLD PRICE

$328K

$274K

+19.7%

5

15

-66.7%

104%

99%

+5.1%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

53

51

+3.9%

MEDIAN SOLD PRICE

$440K

$320K

+37.5%

14

67

-79.1%

103%

98%

+5.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$328K

MEDIAN SOLD PRICE UP +19.7% from 2020

NORTH COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$440K MEDIAN SOLD PRICE UP +37.5% from 2020

2021 Q2 SW WASHINGTON MARKET REPORT 17


cowlitz county NORTH KELSO

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

21

16

+31.3%

MEDIAN SOLD PRICE

$270K

$223K

+21.1%

6

28

-78.6%

103%

99%

+4.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

26

28

-7.1%

MEDIAN SOLD PRICE

$331K

$254K

+30.3%

13

16

-18.7%

102%

100%

+2.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$270K

MEDIAN SOLD PRICE UP +21.1% from 2020

OLYMPIC

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

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$331K

MEDIAN SOLD PRICE UP +30.3% from 2020


ST. HELENS

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

19

17

+11.8%

MEDIAN SOLD PRICE

$285K

$255K

+11.8%

7

10

-30.0%

104%

101%

+3.0%

Q2 2021

Q2 2020

CHANGE

TOTAL HOMES SOLD

19

12

+58.3%

MEDIAN SOLD PRICE

$450K

$338K

+33.1%

27

44

-38.6%

103%

98%

+5.1%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$285K

MEDIAN SOLD PRICE UP +11.8% from 2020

WEST COUNTY

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$450K MEDIAN SOLD PRICE UP +33.1% from 2020

2021 Q2 SW WASHINGTON MARKET REPORT 19


*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.