Page 1

2019 Q3 LU X U R Y M A R K E T T R E N D S

LUXURY MARKET TRENDS


FA L L I S H E R E ! Job growth and interest rates — both key indicators of a strong housing market — are positive in many areas. With kids back in school and summer vacations over, homeowners who wish to sell before the winter season will look to put their home on the market soon. Fall is a great time to buy or sell a luxury home! You may have noticed our revamped Luxury Market Trends report, which launched last quarter. Throughout this report you’ll find information about what’s trending in the luxury market as well as region-specific luxury insights from John L. Scott office leaders, luxury specialists and myself. We’re certain this market information will inform and inspire as you look to buy or sell your next home. J. Lennox Scott Chairman and CEO John L. Scott Real Estate

E XC E P T I O N A L H O M E S B Y J O H N L . S C OT 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. Whether you are looking to buy or sell this fall, John L. Scott luxury broker-associates are prepared with a full range of client service – from pricing comparisons & local insight, to excellent local & global marketing strategies that will highlight the unique prestige of your home, selling it in the shortest period of time. At John L. Scott, we are committed to helping all our clients Live Their Luxury.

O N T H E CO V E R : O F F E R E D AT $1,250,000 | J O H N L S COT T. CO M /2 5 1 5 2


Luxury

LI V E Y O U R


W E A R E G LO B A L

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

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 . H O M E S A L E S V O LU M E T H A N O U R C LO S E S T CO M P E T I TO R Source: RealTrends.com

AMONG THE TOP 500 FIRMS

Volume shown in billions of dollars 250

Continents with Member Companies

200

6

MILLION

150

130,000

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 office leaders had to say about the luxury market in their areas.

JU L IA NO RD BY Office Leader, Bellevue-Main

Luxury home buyers in Bellevue have a multitude of fabulous homes to choose from. There are over 25 homes currently on the market that are listed for over $5,000,000. The available selection includes new construction, waterfront, architecturally significant homes, and luxury condominiums. One of the trends that has continued to gain traction is that of the “Modern Farmhouse� highlighting the sleek clean lines of contemporary design while incorporating large windows and natural wood accents.

BEN P R I DGE O N Office Leader, Sammamish

Pictured are our John L. Scott Foundation night and Convention events. Both are a highlight of our 4th quarter and are a wonderful time for all our broker associates to come together and get geared up for the year to come.

Despite the looming excise tax law changes to take effect January 1, 2020, there seems to be no rush to market for luxury homes -- valued above $1,500,000 -- on the Eastside. In fact, sales for luxury homes here remain historically very strong with only 2.8 months of inventory available above $1,000,000 in September 2019. This constitutes a shortage of inventory, just as in every price range on the Eastside.


2019 Q3 LU X U R Y M A R K E T T R E N D S

JI MI CO U TURE Office Leader, Lake Oswego

Currently on the market are 26 new construction homes with all the modern amenities setting new buyer expectations - multi-season outdoor living spaces accessed through accordion-style doors, gourmet kitchens with prep rooms and luxurious spa bathrooms rank at the top of buyer’s lists of must-haves.

DA N HE AT E R Office Leader, Bend

In Bend, we are seeing more contemporary style homes. Traditionally designed homes are staying on the market longer and lodge-style homes are seeing slower activity.

Photo Credit: Planomatic


PUGET SOUND


2019 Q3 LU X U R Y M A R K E T T R E N D S

T H I R D Q UA R T E R

HIGHLIGHTS

PENDING J O H N L S C OT T. C O M /46512

In the third quarter of 2019, Seattle saw far more luxury listings go under contract versus the year previous in the $1 to $2 million range. The same was the case for West Bellevue pending listings in the $1 to $1.5 million range. In West Bellevue, sales activity intensity was strong from $1.5 up to $3 million, then selective above that. Looking ahead, there will be fewer listings and buyers in the local market starting in the fall and extending into winter. The “winter clean-up� of inventory hits the luxury price ranges from November through January, meaning many of the listings currently on the market will either sell or be pulled off the market. PENDING

Q3 2019

WEST B E L L E V U E S E AT T L E

J O H N L S C OT T. C O M / 2 65 3 7

Q3 2018

% Change

Number of Sales

529

516

2.5%

Total Dollar Volume

$798,833,196

$768,846,290

3.9%

Average Sales Price

$1,510,082

$1,490,012

1.3%

Median Sales Price

$1,325,000

$1,267,500

4.5%

Average Days on Market

60

51

17.6%

Sold / List Price %

98.4%

99.9%

-1.5%

Average Price per SQFT

$493

$515

-4.3%

Quarter-end inventory

444

253

75.5%

Q3 2019

Q3 2018

% Change

Number of Sales

91

82

10.9%

Total Dollar Volume

$246,093,843

$266,908,989

-7.8%

Average Sales Price

$2,704,328

$3,254,988

-16.9%

Median Sales Price

$2,385,000

$2,650,000

-10.0%

Average Days on Market

85

68

25.0%

Sold / List Price %

96.9%

97.7%

-0.7%

Average Price per SQFT

$714

$814

-12.2%

Quarter-end inventory

115

80

68.8%

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. 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.


Q3 2019

Q3 2018

% Change

Number of Sales

72

74

-2.7%

Total Dollar Volume

$148,909,762

$143,508,183

3.7%

Average Sales Price

$2,068,191

$1,939,300

6.6%

Median Sales Price

$1,730,750

$1,755,000

-1.3%

Average Days on Market

85

56

51.7%

Sold / List Price %

97.0%

99.5%

-2.5%

Average Price per SQFT

$572

$587

-2.6%

Quarter-end inventory

79

62

41.9%


2019 Q3 LU X U R Y M A R K E T T R E N D S

Q3 2019

Q3 2018

% Change

Number of Sales

913

940

-2.8%

Total Dollar Volume

$1,492,969,375

$1,521,260,469

-1.9%

Average Sales Price

$1,635,235

$1,618,362

1.0%

Median Sales Price

$1,360,000

$1,320,000

3.0%

Average Days on Market

87

92

-5.4%

Sold / List Price %

98.0%

99.1%

-1.1%

Average Price per SQFT

$451

$459

-1.7%

Quarter-end inventory

849

591

43.7%

Q3 2019

Q3 2018

% Change

Number of Sales

91

100

-9.0%

Total Dollar Volume

$163,690,768

$145,265,124

12.7%

Average Sales Price

$1,798,800

$1,452,651

23.8%

Median Sales Price

$1,355,000

$1,249,975

8.4%

Average Days on Market

129

87

48.2%

Sold / List Price %

98.5%

97.8%

0.7%

Average Price per SQFT

$849

$720

17.9%

Quarter-end inventory

145

117

23.9%


SOUTH KING CO U N T Y

O F F E R E D AT $1,698,000 | J O H N L S C OT T. C O M / 13 173

Q3 2019

Q3 2018

O F F E R E D AT $1,149,000 | J O H N L S C OT T. C O M / 89359

% Change

Number of Sales

129

131

-1.5%

Total Dollar Volume

$123,074,840

$119,831,853

2.7%

Average Sales Price

$954,069

$914,747

4.3%

Median Sales Price

$845,000

$825,000

2.4%

Average Days on Market

65

38

71.1%

Sold / List Price %

98.3%

98.4%

-0.1%

Average Price per SQFT

$267

$264

1.4%

Quarter-end inventory

228

214

N/A

IN Q3 WE SAW -1.5% SALES DECREASE 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.


2019 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 $2,999,990 | J O H N L S C OT T. C O M / 63046

PIERCE COUNTY

Q3 2019

Q3 2018

% Change

Number of Sales

174

162

7.4%

Total Dollar Volume

$169,984,467

$167,609,083

1.4%

Average Sales Price

$976,922

$1,034,624

-5.6%

Median Sales Price

$871,369

$920,000

-5.3%

Average Days on Market

48

60

-20.0%

Sold / List Price %

97.3%

96.9%

0.4%

Average Price per SQFT

$247

$255

-3.1%

Quarter-end inventory

274

231

21.2%

IN Q3 WE SAW 7.4% S A L E S INCREASE IN P I E R C E CO U N T 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 $1,999,998 | J O H N L S C OT T. C O M / 56 456

KITSAP COUNTY

Q3 2019

Q3 2018

% Change

Number of Sales

127

138

-8.0%

Total Dollar Volume

$142,513,916

$158,048,049

-9.8%

Average Sales Price

$1,122,157

$1,145,276

-2.0%

Median Sales Price

$961,000

$971,250

-1.1%

Average Days on Market

50

41

22.0%

Sold / List Price %

97.9%

98.4%

-0.5%

Average Price per SQFT

$348

$354

-1.6%

Quarter-end inventory

121

110

65.0%

OVERALL, AV E R A G E D AY S O N MARKET ARE UP 22.0% I N K I T S A P CO U N T 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.


2019 Q3 LU X U R Y M A R K E T T R E N D S

BAINBRIDGE ISLAND

O F F E R E D AT $1,118,990 | J O H N L S C OT T. C O M /56735

Q3 2019

Q3 2018

% Change

Number of Sales

44

47

-6.3%

Total Dollar Volume

$66,538,467

$71,368,338

-6.8%

Average Sales Price

$1,512,238

$1,518,475

-0.4%

Median Sales Price

$1,310,000

$1,300,000

0.8%

Average Days on Market

85

67

26.8%

Sold / List Price %

98.0%

97.9%

0.1%

Average Price per SQFT

$421

$412

2.2%

Quarter-end inventory

44

29

51.7%

Q 3 S AW A - 6.3% S A L E S DECREASE ON BAINBRIDGE ISLAND

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 $1,875,000 | J O H N L S C OT T. C O M / 34 331

OFFERED AT $1,095,000

SNOHOMISH COUNTY

J O H N L S C OT T. C O M /17197 Q3 2019

Q3 2018

% Change

Number of Sales

412

396

4.0%

Total Dollar Volume

$386,975,356

$366,695,406

5.5%

Average Sales Price

$939,261

$925,999

1.4%

Median Sales Price

$849,364

$849,450

N/A

Average Days on Market

46

31

48.4%

Sold / List Price %

98.9%

99.4%

-0.5%

Average Price per SQFT

$285

$296

-3.5%

Quarter-end inventory

391

289

58.8%

OVERALL, THE AV E R A G E S A L E S PRICE IS UP 1.4% I N SNOHOMISH CO U N T 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.


2019 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 $2,488,000 | J O H N L S C OT T. C O M / 68286

ISLAND COUNTY

Q3 2019

Q3 2018

% Change

Number of Sales

46

62

-25.8%

Total Dollar Volume

$48,452,943

$66,669,200

-27.3%

Average Sales Price

$1,053,325

$1,075,310

-2.0%

Median Sales Price

$933,500

$894,000

4.4%

Average Days on Market

72

53

35.8%

Sold / List Price %

98.1%

97.0%

1.1%

Average Price per SQFT

$350

$351

-0.3%

Quarter-end inventory

87

79

11.4%

Q 3 S AW A - 25.8% S A L E S DROP IN I S L A N D CO U N T 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.


LU X U R Y WAT E R F R O N T LAKE WASHINGTON Q3 2019

Q3 2018

% Change

Number of Sales

50

42

19.0%

Total Dollar Volume

$147,379,375

$165,144,125

-10.8%

Average Sales Price

$2,947,588

$3,932,003

-25.0%

Median Sales Price

$2,086,500

$2,390,250

-12.7%

Average Days on Market

55

30

83.3%

Sold / List Price %

95.1%

98.1%

-3.1%

Average Price per SQFT

$789

$1,119

-29.5%

Quarter-end inventory

78

51

52.9%

09 07

LAKE SAMMAMISH Q3 2019

Q3 2018

% Change

Number of Sales

38

27

40.7%

Total Dollar Volume

$72,511,288

$53,889,800

34.6%

Average Sales Price

$1,908,192

$1,995,919

-4.4%

Median Sales Price

$1,492,500

$1,725,000

-13.5%

Average Days on Market

27

27

N/A

Sold / List Price %

99.30%

97.60%

1.8%

Average Price per SQFT

$558

$533

4.7%

Quarter-end inventory

35

18

94.4%

KING COUNT Y

Q3 2019

Q3 2018

% Change

Number of Sales

161

142

13.4%

Total Dollar Volume

$356,719,927

$335,347,397

6.4%

Average Sales Price

$2,215,652

$2,361,601

-6.2%

Median Sales Price

$1,547,500

$1,625,000

-4.8%

Average Days on Market

42

33

27.3%

Sold / List Price %

96.6%

97.8%

-1.2%

Average Price per SQFT

$613

$692

-11.3%

Quarter-end inventory

224

139

61.2%

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.

O F F E R E D AT $3,198,880 johnlscott.com/13280


2019 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 $2,975,000 | J O H N L S C OT T. C O M /11295


F E AT U R E D

LU X U R Y L I S T I N G S

BAINBRIDGE ISLAND, WA | $1,988,000 1 7 9 W O O D AV E S W B A I N B R I D G E I S L A N D, WA 9 8 1 1 0 Custom designed Contemporary Farmhouse in downtown Winslow with main floor master. This beautiful home is 2,376 square feet of thoughtful, modern design complimented by a 305 square foot Accessory Dwelling Unit for guests or caregivers. Striking natural light filled homes both feature Peruvian Olivewood floors, craftsman finishes + spectacular gardens. Prime location perfectly pairs bucolic privacy with easy access to the marina, shopping, dining, parks & downtown Seattle via the ferry!

EILEEN BLACK 206-696-1540 eblack@johnlscott.com


2019 Q3 LU X U R Y M A R K E T T R E N D S

BAINBRIDGE ISLAND, WA | $1,149,900 10698 N MA D I S O N B A I N B R I D G E I S L A N D, WA 98110 Sited between a quick commute to the ferry & the parks & trails around Bainbridge lies a striking home with charisma! Wake up to vast garden views of the backyard retreat followed by a quick run for coffee at a nearby cafĂŠ. Entertain lavishly in the epicurean kitchen with quartz counters & Viking appliances, or barbecue al fresco on the intimate covered patio.

BAINBRIDGE ISLAND, WA | $1,998,999 6801 N E B E R G MA N R D B A I N B R I D G E I S L A N D, WA 98110 A rare waterfront treasure reminiscent of a world-class manor, designed by Seri Yeckel, evokes a feeling of timeless grandeur. Designed for a Northwest lifestyle with incredible attention to finishes & details, the home provides great spaces for entertaining & everyday living. Sited on low bank water frontage, the property sets its direct gaze upon Manzanita Bay & the Olympics.

EILEEN BLACK 206-696-1540 eblack@johnlscott.com


WHAT’S E A S TON E RTHE N MARKET?

WESTERN, WA S H I N GEASTERN TO N WASHINGTON & IDAHO & IDAHO


2019 Q3 LU X U R Y M A R K E T T R E N D S

S P O K A N E KOOTENAI

O F F E R E D AT $2,650,000 | J O H N L S C OT T. C O M /55007

Q3 2019

Q3 2018

% Change

Number of Sales

84

78

7.7%

Total Dollar Volume

$93,766,916

$100,279,451

-6.5%

Average Sales Price

$1,116,273

$1,285,634

-13.2%

Median Sales Price

$952,750

$984,950

-3.3%

Average Days on Market

104

97

7.2%

Sold / List Price %

94.5%

94.3%

0.2%

Average Price per SQFT

$312

$328

-5.1%

Quarter-end inventory

220

N/A

N/A

Q3 2019

Q3 2018

% Change

Number of Sales

51

32

59.4%

Total Dollar Volume

$46,192,389

$31,048,000

48.8%

Average Sales Price

$905,733

$970,250

-6.6%

Median Sales Price

$848,819

$863,750

-1.7%

Average Days on Market

65

53

22.6%

Sold / List Price %

95.2%

96.2%

-1.0%

Average Price per SQFT

$188

$195

-3.3%

Quarter-end inventory

121

114

1.8%

The data is for single family residences over $750k in Spokane and Kootenai 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.


WHAT’S ON THE MARKET?

SWESTERN, O U T H WEASTERN EST WA S H I N G TO N WASHINGTON & IDAHO & OREGON


2019 Q3 LU X U R Y M A R K E T T R E N D S

T H I R D Q UA R T E R

HIGHLIGHTS

OFFERED AT $1,250,000 | JOHNLSCOT T.COM/25152

Currently, high-net-worth buyers in Portland benefit from both a great selection of homes in the market and low interest rates.

PORTLAND PORTLAND EASTSIDE WESTSIDE

As the leaves fall and winter comes to the area, selection will begin to dwindle as the “winter clean-up� of inventory hits the luxury price ranges. November through January, many of the listings currently on the market will either sell or be pulled off the market.

Q3 2019

Q3 2018

% Change

Number of Sales

34

30

13.3%

Total Dollar Volume

$42,303,670

$54,835,808

-22.9%

Average Sales Price

$1,244,226

$1,827,860

-31.9%

Median Sales Price

$1,200,000

$1,370,000

-12.4%

Average Days on Market

85

78

8.9%

Sold / List Price %

96.2%

98.2%

-2.1%

Average Price per SQFT

$302

$361

-16.4%

Quarter-end inventory

89

74

20.3%

Q3 2019

Q3 2018

% Change

Number of Sales

182

179

1.6%

Total Dollar Volume

$259,062,990

$257,665,328

0.5%

Average Sales Price

$1,423,423

$1,439,471

-1.1%

Median Sales Price

$1,275,500

$1,250,000

2.0%

Average Days on Market

115

103

11.6%

Sold / List Price %

95.9%

96.3%

-0.4%

Average Price per SQFT

$323

$298

8.4%

Quarter-end inventory

452

402

12.4%

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.


SOUTHWEST WASHINGTON & OREGON

BEND Bend’s $1.5 to $2 million price range saw good sales activity in the third quarter of 2019. Buyers currently in the market for a new luxury home benefit from low interest rates, as well as a great selection of unsold inventory and new listings. This is an opportunity time for high-net-worth home buyers in Bend, before the “winter clean-up” of inventory hits the luxury price ranges.

O F F E R E D AT $1,169,000 | J O H N L S C OT T. C O M / 55615

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.


2019 Q3 LU X U R Y M A R K E T T R E N D S

BEND

Q3 2019

Q3 2018

% Change

Number of Sales

182

142

28.2%

Total Dollar Volume

$198,842,599

$148,228,453

34.1%

Average Sales Price

$1,092,542

$1,043,862

4.7%

Median Sales Price

$942,000

$899,450

4.7%

Average Days on Market

82

82

N/A

Sold / List Price %

96.7%

96.2%

0.6%

Average Price per SQFT

$337

$322

4.6%

Quarter-end inventory

313

145

154.5%

Q 3 S AW A 28.2% S A L E S INCREASE IN BEND


Q3 2019

Q3 2018

% Change

Number of Sales

38

37

2.7%

Total Dollar Volume

$35,582,691

$45,573,740

-21.9%

Average Sales Price

$936,387

$1,231,723

-24.0%

Median Sales Price

$866,000

$840,000

3.1%

Average Days on Market

158

120

31.7%

Sold / List Price %

95.0%

85.7%

10.9%

Average Price per SQFT

$274

$333

-17.9%

Quarter-end inventory

217

125

93.6%

NUMBER OF SALES

+2.7%

DAYS ON MARKE T

+31.7%


2019 Q3 LU X U R Y M A R K E T T R E N D S

Q3 2019

Q3 2018

% Change

Number of Sales

91

103

-11.7%

Total Dollar Volume

$85,039,304

$100,531,581

-15.4%

Average Sales Price

$934,498

$976,035

-4.3%

Median Sales Price

$870,499

$860,000

1.2%

Average Days on Market

77

49

57.1%

Sold / List Price %

96.8%

98.8%

-2.0%

Average Price per SQFT

$225

$241

-6.4%

Quarter-end inventory

241

183

25.1%


LU X U R Y T R E N D S

The weather is cooling off and the leaves are starting to fall, making it the perfect time to turn your attention indoors. Whether you’re looking to energize your space with a coat of paint or want to step up your entertaining game, we have you covered!

G E T B A C K T O N AT U R E THIS SEASON Behr Paint recently released their 2020 Color Trends Palette with “Back to Nature” at the forefront of the 15-color selection. The “restorative, meadow-inspired green” is inspired by a deep desire to connect with one’s surroundings and bring the outside inside. Not ready to fully commit to this tranquil green shade? Try it out on furniture, cabinetry, or window frames to add a swipe of this calming shade to any room this season!

B AC K TO N AT U R E S WATC H S 3 4 0 - 4 b e h r. c o m


2019 Q3 LU X U R Y M A R K E T T R E N D S

TA K E YO U R E N T E R TA I N I N G T O T H E NEXT LEVEL Craving a craft cocktail but don’t want to leave the comfort of your home? LG has rolled out a new model of their InstaView™ refrigerator that now features the ability to create slow-melting, round ice cubes, perfect for any craft drink. The new model can store up to 25 of these round ice cubes, making this refrigerator a “game-changer…for home mixologists and cocktail connoisseurs,” while still checking all the boxes you’d expect from a refrigerator. Available in a stainless steel or black stainless finish, there is an option sure to work for anyone who wants to step up their at-home mixology.

L G I n s t a Vi e w ™

lg.com

A N T I PA S TO S K E W E R S Recipe adapted from Marlynn Jayme Schotland’s Urban Bliss Life, a food, wine and travel blog. www.urbanblisslife.com Ingredients: 1 16-20 oz. pkg cheese tortellini 1 4 oz. pkg sliced pepperoni 1 6-8 oz. jar pitted kalamata olives 1 6-8 oz. jar artichoke hearts in oil 1 8-16 oz. jar red peppers in oil 1 8 oz. jar pitted green olives 3-5 T olive oil 1 T crushed red peppers 1 tsp. dried basil 1 tsp. kosher salt 1/2 tsp. pepper Instructions: Cook tortellini according to package instructions. Meanwhile, combine all remaining ingredients in a large bowl except for the pepperoni. Add cooked tortellini to the bowl, then pour in olive oil and sprinkle dried basil, salt and pepper. Gently coat all ingredients by mixing with a wooden spoon. Cover and refrigerate for at least 30 minutes, up to overnight. Thread ingredients on skewers in your preferred order and serve.


O F F E R E D AT $4,298,000 | J O H N L S C OT T. C O M /13281

Connect with us:

@JLSexceptionalhomes

@exceptional_homesjls

Profile for John L. Scott Real Estate

Exceptional Homes Q3 Luxury Market Trends  

Exceptional Homes Q3 Luxury Market Trends