Exceptional Homes Q1 Luxury Market Trends 2020

LUXURY MARKET TRENDS

HAPPY SPRING! The weather has already begun to turn in many markets we serve, and we’re now in the prime-time season for the luxury market, which runs from March through October. As spring progresses, we’ll see additional inventory enter the market, as this is truly the best time of year to showcase your home.

Though some markets saw hesitancy in late March due to COVID-19, the real estate market remains in motion. With social distancing guidelines in place, high-net-worth individuals can take advantage of historically low interest rates in the mid-threes.

Whether you’re looking to buy or sell this spring, our John L. Scott luxury broker associates are here to help. For buyers, our broker associates can ensure you’ll be positioned well to secure your home of choice. For those looking to list, we’ve enhanced our strategies for sellers at this time to get your home sold.

We hope you enjoy this edition of our Luxury Market Trends report!

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.

As we kickoff what is typically the busy spring and summer season, 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.

O N T H E CO V E R : P E N D I N G | J O H N L S C OT T. C O M /60352 R I G H T: O F F E R E D AT $2,500,000 | J O H N L S C OT T. C O M /520 43

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 WorldÂŽ.

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

4,300

Member Firms

565

Total Inventory

$58

BILLION

80%

of applicants to this network are turned down

Offices Worldwide

JOHN L. SCOTT + LEADINGRE HAD $32 BILLION MORE U.S. HOME SALES VOLUME THAN OUR CLOSEST COMPETITOR Source: RealTrends.com

AMONG THE TOP 500 FIRMS

Volume shown in billions of dollars 250

Continents with Member Companies

200

6

130,000

MILLION

150

Associates Worldwide

$2.6

100

Average Property

50

0

This bar chart is sourced from REAL Trends Top 500 for 2018, realtrends.com.

Companies shown represent networks and national brands.

Leading Real Estate Companies of the World® $254 Keller Williams $222 Coldwell Banker $192 Non-LeadingRE Independents $91 Berkshire Hathaway Home Services $89 RE/MAX $83 Sotheby’s International Realty $72 Compass $45 Century 21 $30 Douglas Elliman Real Estate $28 eXp Realty $19 HomeSmart $14 ERA $14 Better Homes & Gardens $12 Realty Executives $7 Exit Realty $.5

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.

RANDI BROWN

D A N H E AT E R

Manager, Bainbridge Island

Office Leader, Bend

The Bainbridge Island Luxury market is steady.

While homes are on the market slightly longer than 4th quarter 2019, we are seeing less inventory causing the average price per square foot continue to rise. While COVID-19 has delayed our spring market I believe the market will bounce back once COVID-19 is under control. This is a great opportunity for buyers who have been hesitant or previously found themselves in multiple offers.

New listings went down in January but made a strong recovery in February and March so far.

Sales have gone up considerably in the first quarter. People are still moving to our area and if they are looking, they are truly serious buyers.

Buyers should have a good supply of inventory to choose from and sellers must be realistic on their pricing. Design trends continue to move toward mid-century modern with white interior finishes.

Smart homes and Smart features are the norm.

PAT T I C H A L K E R

LO R I H O L D E N S COT T

Luxury Broker, Redmond

Luxury Broker, Mercer Island

January and February saw fewer luxury homes coming to market than 2019 but the ones that did come to market sold either with multiple offers over list in the $1M-$1.8 range; the over $2M also sold for list price or just off list price within 30 days. Early March we saw homes in all price points hit the market and sold quickly until the Stay Home, Stay Safe ordinance went into effect March 26th.

Trends in design continue to be main floor living space with private baths for long-term guests.

We are seeing unique and textured finishes in tile, appliances beyond the traditional colors, natural wood is also making a comeback to cabinetry, trim, and doors. Great rooms are getting “greater” with built in bars, multi-screen TV’s, and wireless sound systems. Outdoor spaces continue to be popular with covered and heated areas that provide built in BBQ’s, pizza ovens, music, fireplaces and TV.

2020 Q1 LU X U R Y M A R K E T T R E N D S

PUGET SOUND

2020 Q1 LU X U R Y M A R K E T T R E N D S

FIRST QUARTER

HIGHLIGHTS

O F F E R E D AT $1,575,000 | J O H N L S C OT T. C O M /30820

Luxury market activity in Seattle, West Bellevue and Mercer Island during the first quarter of 2020 was very positive. Though the local market in Seattle, West Bellevue and Mercer Island saw some hesitancy in March due to COVID-19, we’re seeing buyer activity back in motion, particularly for homes priced from $1 million to $2 million.

With social distancing practices in play to ensure safety for all parties involved, we’re seeing sales activity pick back up locally.

We’ve adjusted our approach to serving luxury homeowners during this time, offering maximum market exposure for your luxury listing, yet ensuring safety for all parties involved through registration forms and enhanced private showing protocols with an emphasis on serious buyers.

In Seattle, the sales activity intensity in the $1 to $1.5 million price range was higher in the first quarter of 2020 versus the same period a year ago. In this range, we saw nearly recordsetting sales taking place in Q1, showing great momentum as the spring began. Inventory levels are lower than they were last year in the $1 to $3 million range.

S E AT T L E Q1 2020

Q1 2019

% Change

Number of Sales

390

300

30.0%

Total Dollar Volume

$568,632,267

$439,629,923

29.3%

Average Sales Price

$1,458,031

$1,465,433

-0.5%

Median Sales Price

$1,290,475

$1,267,500

1.8%

Average Days on Market

64

68

-5.9%

Sold / List Price %

101.1%

98.4%

2.8%

Average Price per SQFT

$497

$486

2.3%

Quarter-end inventory

240

311

-22.8%

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.

O F F E R E D AT $2,080,000 | J O H N L S C OT T. C O M /44668

WEST BELLEVUE Q1 2020

Q1 2019

% Change

Number of Sales

64

62

3.2%

Total Dollar Volume

$185,495,445

$183,512,029

1.1%

Average Sales Price

$2,898,366

$2,959,871

-2.1%

Median Sales Price

$2,576,000

$2,463,000

4.6%

Average Days on Market

90

67

34.3%

Sold / List Price %

96.4%

97.7%

-1.4%

Average Price per SQFT

$712

$767

-7.2%

Quarter-end inventory

60

94

-36.2%

Over the first quarter of 2020, luxury inventory in West Bellevue was lower overall versus last year, especially in the $1 to $2 million range. The West Bellevue luxury real estate market is in good shape from $1 to $3 million given a shortage of inventory, and above $3 million is at selective buyer activity.

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.

2020 Q1 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 $2,475,000 | J O H N L S C OT T. C O M /13877

MERCER ISLAND Q1 2020

Q1 2019

% Change

Number of Sales

50

57

-12.3%

Total Dollar Volume

$103,939,730

$106,875,549

-2.8%

Average Sales Price

$2,078,795

$1,875,010

10.9%

Median Sales Price

$1,748,000

$1,650,000

5.9%

Average Days on Market

107

82

30.5%

Sold / List Price %

99.3%

97.7%

1.7%

Average Price per SQFT

$567

$570

-0.6%

Quarter-end inventory

44

82

-46.3%

Unsold inventory over Q1 on Mercer Island was significantly down compared to last year. January 2020 started with limited inventory from $1 to $2 million, and these conditions continued throughout the last quarter. For homes $3 million and above on Mercer Island, buyer activity is selective.

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 / 16 7 4 5

EASTSIDE Q1 2020

Q1 2019

% Change

Number of Sales

597

539

10.8%

Total Dollar Volume

$1,006,333,905

$878,733,101

14.5%

Average Sales Price

$1,685,651

$1,630,303

3.4%

Median Sales Price

$1,400,000

$1,340,000

4.5%

Average Days on Market

91

99

-8.1%

Sold / List Price %

99.5%

98.0%

1.6%

Average Price per SQFT

$477

$458

4.2%

Quarter-end inventory

477

771

-38.1%

Q1 SAW A 10.8% INCREASE IN SALES ON THE EASTSIDE

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.

2020 Q1 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 /4 0903

KING COUNTY CONDO Q1 2020

Q1 2019

% Change

Number of Sales

91

69

31.9%

Total Dollar Volume

$132,071,040

$105,318,067

25.4%

Average Sales Price

$1,451,330

$1,526,349

-4.9%

Median Sales Price

$1,249,950

$1,250,000

0.0%

Average Days on Market

117

114

2.6%

Sold / List Price %

98.2%

97%

1.2%

Average Price per SQFT

$736

$738

-0.2%

Quarter-end inventory

98

125

-21.6%

IN Q1 WE SAW A SUBSTANTIAL 31.9% INCREASE IN SALES OF CONDOS IN KING COUNT Y

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.

O F F E R E D AT $995,950 | J O H N L S C OT T. C O M /39719

S O U T H K I N G CO U N T Y Q1 2020

Q1 2019

% Change

Number of Sales

118

69

71.0%

Total Dollar Volume

$106,787,200

$64,132,411

66.5%

Average Sales Price

$904,976

$929,455

-2.6%

Median Sales Price

$835,500

$838,000

-0.3%

Average Days on Market

103

96

7.3%

Sold / List Price %

98.2%

97.7%

0.5%

Average Price per SQFT

$264

$245

7.9%

Quarter-end inventory

152

185

-17.8%

IN Q1 WE SAW A 71% SALES INCREASE IN 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.

2020 Q1 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 $1,675,000 | J O H N L S C OT T. C O M /39343

PIERCE COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

112

129

-13.2%

Total Dollar Volume

$107,569,555

$129,361,622

-16.8%

Average Sales Price

$960,442

$1,002,803

-4.2%

Median Sales Price

$825,000

$850,000

-2.9%

Average Days on Market

91

101

-9.9%

Sold / List Price %

98.1%

96.9%

1.2%

Average Price per SQFT

$251

$253

-0.9%

Quarter-end inventory

208

207

0.5%

THE AVERAGE DAYS ON MARKET DECREASED BY 9.9% IN Q1 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 $1,100,000 | J O H N L S C OT T. C O M /96219

KITSAP COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

64

46

39.1%

Total Dollar Volume

$78,130,220

$49,586,651

57.6%

Average Sales Price

$1,220,785

$1,077,971

13.2%

Median Sales Price

$1,102,500

$957,500

15.1%

Average Days on Market

85

93

-8.6%

Sold / List Price %

98%

97.2%

0.8%

Average Price per SQFT

$366

$324

13.1%

Quarter-end inventory

83

94

-12.0%

OVERALL, THE NUMBER OF SALES INCREASED BY 39.1% 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.

2020 Q1 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 / 60352

BAINBRIDGE ISLAND Q1 2020

Q1 2019

% Change

Number of Sales

28

14

100.0%

Total Dollar Volume

$43,137,340

$19,992,498

115.8%

Average Sales Price

$1,540,619

$1,428,036

7.9%

Median Sales Price

$1,247,500

$1,195,000

4.4%

Average Days on Market

147

90

63.3%

Sold / List Price %

98%

97.4%

0.6%

Average Price per SQFT

$435

$390

11.5%

Quarter-end inventory

31

26

19.2%

Bainbridge Island is home to many opportunities for high-net-worth buyers looking to enjoy all that island life has to offer. Many seek out buying a primary residence or vacation home on Bainbridge Island due to the island’s relaxing pace, yet proximity to the hustle and bustle of Seattle – just a ferry ride away.

Most luxury market activity on Bainbridge Island occurs in the $1 to $1.5 million price range, and buyer activity is selective above $1.5 million.

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.

O F F E R E D AT $1,075,000 | J O H N L S C OT T. C O M /83889

SNOHOMISH COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

294

245

20.0%

Total Dollar Volume

$277,275,480

$225,476,836

23.0%

Average Sales Price

$943,114

$920,314

2.5%

Median Sales Price

$858,250

$829,990

3.4%

Average Days on Market

50

64

-21.9%

Sold / List Price %

99.2%

98.2%

1.0%

Average Price per SQFT

$295

$283

4.0%

Quarter-end inventory

247

322

-23.3%

Q1 SAW A 21.9% 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.

2020 Q1 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 /41596

ISLAND COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

25

14

78.6%

Total Dollar Volume

$25,727,475

$17,866,500

44.0%

Average Sales Price

$1,029,099

$1,276,179

-19.4%

Median Sales Price

$879,960

$866,000

1.6%

Average Days on Market

73

110

-33.6%

Sold / List Price %

98%

98.3%

-0.4%

Average Price per SQFT

$260

$364

-28.6%

Quarter-end inventory

58

66

12.1%

OVERALL, THE NUMBER OF SALES INCREASED BY 78.6% 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 Q1 2020

Q1 2019

% Change

Number of Sales

17

17

0.0%

Total Dollar Volume

$54,691,000

$59,850,500

-8.6%

Average Sales Price

$3,217,118

$3,520,618

-8.6%

Median Sales Price

$2,193,500

$2,200,000

-0.3%

Average Days on Market

37

37

0.0%

Sold / List Price %

96.1%

98.6%

-2.6%

Average Price per SQFT

$849

$933

-8.9%

Quarter-end inventory

42

21

100.0%

Q1 2020

Q1 2019

% Change

Number of Sales

6

17

-64.7%

Total Dollar Volume

$8,337,500

$30,721,000

-72.9%

Average Sales Price

$1,389,583

$1,807,118

-23.1%

Median Sales Price

$1,225,000

$1,233,000

-0.6%

Average Days on Market

12

89

-86.5%

Sold / List Price %

99.6%

95.3%

4.5%

Average Price per SQFT

$426

$481

-11.5%

Quarter-end inventory

15

21

-28.6%

LAKE SAMMAMISH

KING COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

68

65

4.6%

Total Dollar Volume

$145,804,499

$146,596,118

-0.5%

Average Sales Price

$2,144,184

$2,255,325

-4.9%

Median Sales Price

$1,469,000

$1,625,000

-9.6%

Average Days on Market

63

65

-3.1%

Sold / List Price %

96.6%

96.6%

0.1%

Average Price per SQFT

$675

$638

5.8%

Quarter-end inventory

128

155

-17.4%

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.

2020 Q1 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 $2,500,000 | J O H N L S C OT T. C O M /27580

FEATURED LUXURY LISTINGS

SNOHOMISH, WA | $1,078,000 14120 235TH ST SE, SNOHOMISH, WA 98296

DAVE ANDERSON (206) 605-4267 DaveAnderson@johnlscott.com

Thoughtful design & breathtaking finishes are the soul of this, custom built MODERN FARMHOUSE on shy 2 acre lot. This elegant home sits atop a gently sloped drive w/ ample parking. The stunning kitchen & open floor plan are covered in wide-plank hardwoods & drenched in natural light w/high-end appliances & solid quartz countertops that “waterfall” off the island.

Features include; walk-in pantry w/2nd fridge, full laundry room on each level, oversized bonus room w/wet-bar & heated/covered patio.

2020 Q1 LU X U R Y M A R K E T T R E N D S

BELLINGHAM, WA | $1,000,000 845 CHUCKANUT DR, BELLINGHAM, WA 98229

NICOLE TINGVALL (360) 728-6536 NicoleTingvall@johnlscott.com

PAUL BALZOTTI (360) 920-5901 PaulBalzotti@johnlscott.com

Exceptional custom bay view home on 1.53 park-like acres. Huge heated garage/shop with 1/2 bath and 16’ drive-thru doors, perfect for RV /boat. Master retreat with timber-trussed vaulted ceiling, private deck, office/exercise room, 5-piece marble bath w/ jetted tub. Potential for second Master on main with addition of a hall door. Ensuite guest quarters accessed from deck - Airbnb potential? New oak flooring & 1300 sq ft of composite decking.

Additional storage or shop space in partially finished basement as well. 5-minute walk to community beach. 1 yr Home Warranty included.

EASTERN WA S H I N G TO N & IDAHO

2020 Q1 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 $749,000 | J O H N L S C OT T. C O M /28207

KOOTENAI COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

39

34

14.7%

Total Dollar Volume

$44,557,341

$37,593,544

18.5%

Average Sales Price

$1,142,496

$1,105,692

3.3%

Median Sales Price

$895,000

$856,200

4.5%

Average Days on Market

98

130

-24.6%

Sold / List Price %

94.4%

89.5%

5.4%

Average Price per SQFT

$298

$233

27.8%

Quarter-end inventory

130

172

-24.4%

THE AVERAGE PRICE PER SQUARE FOOT INCREASED 27.8% IN KOOTENAI COUNT Y

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.

2020 Q1 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 $995,000 | J O H N L S C OT T. C O M /32251

SPOKANE COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

23

15

53.3%

Total Dollar Volume

$19,481,262

$16,031,745

21.5%

Average Sales Price

$847,011

$1,068,783

-20.7%

Median Sales Price

$785,000

$835,000

-6.0%

Average Days on Market

79

84

-6.0%

Sold / List Price %

96%

92.5%

3.8%

Average Price per SQFT

$194

$192

1.2%

Quarter-end inventory

100

93

7.5%

OVERALL, AVERAGE DAYS ON MARKET DECREASED 6% IN SPOKANE COUNT Y

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

2020 Q1 LU X U R Y M A R K E T T R E N D S

FIRST QUARTER

HIGHLIGHTS

OFFERED AT $3,250,000 | JOHNLSCOT T.COM/54215

In Portland, those looking for luxury homes benefit from excellent selection in many price ranges, especially those above $1.5 million. Most luxury market activity in Portland occurs in the $1 to $1.5 million price range, and buyer activity locally is selective above $1.5 million.

Historically low interest rates provide “price jumping� opportunities for those looking at homes in a higher price range in Q2.

PORTLAND WESTSIDE Q1 2020

Q1 2019

% Change

Number of Sales

25

26

-3.9%

Total Dollar Volume

$33,432,166

$32,404,804

3.2%

Average Sales Price

$1,337,287

$1,246,339

7.3%

Median Sales Price

$1,250,000

$1,250,000

0.0%

Average Days on Market

199

98

103.1%

Sold / List Price %

94.2%

96.7%

-2.6%

Average Price per SQFT

$270

$297

-9.3%

Quarter-end inventory

78

90

-13.3%

Q1 2020

Q1 2019

% Change

Number of Sales

136

95

43.2%

Total Dollar Volume

$182,946,814

$142,255,037

28.6%

Average Sales Price

$1,345,197

$1,497,421

-10.2%

Median Sales Price

$1,250,000

$1,322,500

-5.5%

Average Days on Market

130

125

4.0%

Sold / List Price %

96%

95.2%

0.8%

Average Price per SQFT

$301

$327

-7.9%

Quarter-end inventory

329

369

-10.8%

PORTLAND EASTSIDE

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 Q1 2020

Q1 2019

% Change

Number of Sales

128

70

82.9%

Total Dollar Volume

$139,074,602

$74,582,140

86.5%

Average Sales Price

$1,086,520

$1,065,459

2.0%

Median Sales Price

$939,500

$998,500

-5.9%

Average Days on Market

131

117

12.0%

Sold / List Price %

97.4%

97.5%

0.0%

Average Price per SQFT

$335

$312

7.3%

Quarter-end inventory

224

217

3.2%

IN Q1, THE AVERAGE PRICE PER SQUARE FOOT INCREASED 7.3% IN BEND.

O F F E R E D AT $1,375,000 | J O H N L S C OT T. C O M /51111

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.

2020 Q1 LU X U R Y M A R K E T T R E N D S

The first quarter of 2020 was positive for the luxury market in Bend. Both listings and sales were up versus last year, especially in the months of January and February. In Bend, luxury sales begin in the $800,000 to $1.5 million range, and this range is the sweet spot where much activity occurs.

Buyers in Bend have excellent selection to choose from when looking for a luxury home that will be a perfect fit for their family.

Historically low interest rates also provide “price jumping� opportunities for those looking at homes in a higher price range in Q2.

O F F E R E D AT $1,000,000 | J O H N L S C OT T. C O M /50328

JACKSON COUNTY Q1 2020

Q1 2019

% Change

Number of Sales

25

16

56.3%

Total Dollar Volume

$23,238,500

$17,872,290

30.0%

Average Sales Price

$929,540

$1,117,018

-16.8%

Median Sales Price

$835,000

$870,000

-4%

Average Days on Market

136

135

0.7%

Sold / List Price %

96.8%

96.5%

0.3%

Average Price per SQFT

$268

$284

-5.5%

Quarter-end inventory

153

177

-13.6%

IN Q1 WE SAW A 56.3% INCREASE OF SALES 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.

2020 Q1 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 $18,500,000 | J O H N L S C OT T. C O M /38795

C L A R K CO U N T Y Q1 2020

Q1 2019

% Change

Number of Sales

67

64

4.7%

Total Dollar Volume

$62,414,849

$63,422,295

-1.6%

Average Sales Price

$931,565

$990,973

-6.0%

Median Sales Price

$848,500

$845,744

0.3%

Average Days on Market

116

101

14.9%

Sold / List Price %

96.2%

95.8%

0.4%

Average Price per SQFT

$224

$248

-9.6%

Quarter-end inventory

175

190

-7.9%

AT T H E E N D O F Q 1, I N V E N TO R Y I S 7. 9% LO W E R T H A N THE SAME TIME 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.

LUXURY TRENDS As we kickoff the spring in the comfort of our own homes, it’s the perfect time to upgrade our wellness and self-care. Take advantage of this time to add some luxe to your life.

Will any of these trends enhance your lifestyle?

PA N O R A M A B A R R E L S AU N A It’s well known that regular use of saunas provides numerous health benefits, from improved cardiovascular performance to post-workout recovery.

If you want the ultimate refuge to enjoy those therapeutic effects, the Panorama Barrel Sauna is an eco-friendly solution that you can position anywhere on your property to take advantage of breathtaking natural scenery. Constructed from a choice of Nordic white pine or clear red cedar, its sleek design is complete with a bubble window that immerses you in nature while improving your mental and physical wellbeing. It’s the next best thing to having your own private wellness retreat in the backyard. redwoodoutdoors.com

P E LOTO N B I K E If your busy schedule keeps you from getting to the gym but you still want to live a healthy lifestyle and experience the support of a community when working out from home, then the Peloton Bike is the answer. Equipped with a 22" HD touchscreen, this state-of-the-art stationary bike gives you access to 90+ live-streamed classes each week with professional instructors giving real-time feedback. The immersive workout experience enables you to develop your own personal training regimen or go on rides with other members and give each other support while pushing your limits. peloton.com Some Luxury Trends are provided by Luxury Portfolio International®

2020 Q1 LU X U R Y M A R K E T T R E N D S

SAKARA LIFE We all want to eat food that’s both delicious and nutritious, but simply finding the time to shop for and prepare such meals can be difficult. That’s why we’re all in on Sakara Life’s Signature Program that delivers organic, plantrich super meals right to your door and ready to eat. You can expect a burst of creative flavors, like kimchi and buckwheat soba bowls with an avocado-cacao probiotic pudding for dessert, and rest assured that your diet will be the cornerstone of a healthy lifestyle. If you feel like a cleansing is in order, Sakara Life also offers an intensive detox program to reset your system, improve digestion, and increase energy levels. | sakara.com

WA S H I N G TO N I A N This authentic treat is an ode to the Pacific Northwest.

Enjoy this cocktail at home, or at Ascend Prime in downtown Bellevue.

Visit ascendprime.com to learn more.

2 oz

Westland Whiskey

.50 oz

Bourbon Cherry Syrup

.25 oz

Antica Vermouth

2 Dashes

Old Fashioned Bitter

Add the ingredients to a cocktail glass with ice and stir with a long cocktail spoon. Garnish with candied orange and a cherry and enjoy!

O F F E R E D AT $2,475,000 | J O H N L S C OT T. C O M /13877

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