Exceptional Homes Q4 Luxury Market Trends

LUXURY MARKET TRENDS

A NEW DECADE BEGINS! A new year is a time for a fresh start, and many high net worth individuals may find that 2020 is right for them to buy or sell their home. The essentials for a strong luxury market are in place in many areas, with positive job growth, asset appreciation and low interest rates driving the market forward.

In some markets, 2019 was a record year for luxury homes going under contract.

The prime luxury market season begins at the tail end of Q1 in March and runs through September. The two fringe months of February and October also are active in the luxury market.

We’re honored you’re kicking off 2020 by reviewing this Luxury Market Trends report.

Inside, we’ve compiled helpful information on the luxury market and trends, alongside tailored insights from John L. Scott leadership and luxury brokers. We hope you enjoy this edition of our quarterly report!

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 $2,100,000 | J O H N L S COT T. CO M /9 4 3 6 8

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 real estate specialists had to say about the luxury market in their area.

M ARTIN W E I SS Office Leader, Issaquah

Sales activity was strong in the luxury market on the Eastside with 40.8% of new listings selling within the first 30 days as of December 1st. The market will continue to be strong in 2020 especially below $3M. It has been more critical than ever for luxury home sellers to take care of deferred maintenance and make sure their home is shown in its best light.

MIKE S T W E A RT Office Leader, Gig Harbor

In Gig Harbor, luxury market sales keep increasing! We experienced over an 8% increase in the number of luxury home sales from 2018-2019. A trend we are experiencing is buyers moving to Gig Harbor from higher priced areas. These buyers can afford more home and a great quality of life in a unique place to live.

2019 Q4 LU X U R Y M A R K E T T R E N D S

LYN D A O’ NEILL Luxury Broker, Lake Oswego

2019 started out very strong and in mid-June we started to see a bit of longer days on the market. However, luxury has not slowed down, and people are diversifying from the stock market and we are seeing more cash offers.

NA NCY B A CK M A N Luxury Broker, Bellevue

I am confident that we will see strong activity in the luxury market in 2020, especially in the core areas of Kirkland and Bellevue.

With Amazon taking a larger presence on the Eastside, these areas will see the most activity.

We are still seeing a number of California buyers moving here and the majority of those are luxury buyers.

Photo Credit: Planomatic

PUGET SOUND

2019 Q4 LU X U R Y M A R K E T T R E N D S

F O U R T H Q UA R T E R

HIGHLIGHTS

OFFERED AT $2,995,000 J O H N L S C OT T. C O M /49 9 8 4

Coming out of the winter clean-up in the fourth quarter of 2019, we anticipate the luxury market will start earlier this year in Seattle, West Bellevue and Mercer Island. In all three areas, 2019 was a record year for luxury homes going under contract.

In West Bellevue, listings are virtually sold out in the $1 million to $2 million range, which comprises 53 percent of luxury sales activity.

This is following a quiet November and December, with few new listings hitting the market.

On Mercer Island, the new decade is starting with unsold inventory down 29 percent compared to last year for homes priced $1 million and above. The $1 million to $1.5 million range is virtually sold out and is expected to reach frenzy sales activity intensity in the first quarter of 2020.

OFFERED AT $3,621,000

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 / 3 48 5 8

Q4 2019

Q4 2018

% Change

Number of Sales

478

371

28.8%

Total Dollar Volume

$754,951,189

$551,911,006

36.8%

Average Sales Price

$1,579,396

$1,487,631

6.2%

Median Sales Price

$1,300,000

$1,250,000

4.0%

Average Days on Market

69

64

7.8%

Sold / List Price %

97.70%

97.60%

0.1%

Average Price per SQFT

$505

$480

5.2%

Quarter-end inventory

184

149

23.5%

Q4 2019

Q4 2018

% Change

Number of Sales

103

66

56.0%

Total Dollar Volume

$286,796,355

$197,569,037

45.1%

Average Sales Price

$2,784,431

$2,993,470

-6.9%

Median Sales Price

$2,455,000

$2,587,500

-5.1%

Average Days on Market

93

80

16.2%

Sold / List Price %

96.50%

95.30%

1.2%

Average Price per SQFT

$727

$705

3.0%

Quarter-end inventory

53

54

-1.9%

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.

PUGET SOUND

MERCER ISLAND

Q4 2019

Q4 2018

% Change

Number of Sales

58

53

9.43%

Total Dollar Volume

$114,013,715

$133,617,902

-14.6%

Average Sales Price

$1,965,754

$2,521,092

-22.0%

Median Sales Price

$1,615,000

$1,820,000

-11.2%

Average Days on Market

78

79

-1.2%

Sold / List Price %

97.80%

96.60%

1.2%

Average Price per SQFT

$562

$665

-15.4%

Quarter-end inventory

39

46

-15.2%

O F F E R E D AT $1,995,000 | J O H N L S C OT T. C O M / 13884

The data is for single family residences over $1M in MLS areas 500, 510, 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.

2019 Q4 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 $4,150,000 | J O H N L S C OT T. C O M /13284

EASTSIDE PRICE PER SQFT

$464

NUMBER OF SALES

12%

OFFERED AT $1,088,850

Q4 2019

Q4 2018

% Change

Number of Sales

748

668

11.9%

Total Dollar Volume

$1,271,484,683

$1,132,056,279

12.3%

Average Sales Price

$1,699,846

$1,694,695

0.3%

Median Sales Price

$1,380,000

$1,352,895

2.0%

Average Days on Market

101

96

5.2%

Sold / List Price %

97.60%

97.30%

0.3%

Average Price per SQFT

$464

$466

-0.4%

Quarter-end inventory

349

373

-6.4%

Q4 2019

Q4 2018

% Change

90

82

9.7%

Total Dollar Volume

$137,298,226

$129,408,552

6.1%

Average Sales Price

$1,525,536

$1,578,153

-3.3%

Median Sales Price

$1,300,272

$1,386,500

-6.2%

Average Days on Market

101

74

36.4%

Sold / List Price %

97.00%

97.60%

-0.6%

Average Price per SQFT

$783

$778

0.5%

Quarter-end inventory

78

85

-8.2%

K I N G CO U N T Y CO N D O

DAYS ON MARKE T

NUMBER OF SALES

Number of Sales

The data is for condominiums over $1M in King County.

KING CO U N T Y CO N D O

EASTSIDE

J O H N L S C OT T. C O M / 4 52 0 6

101

9.7%

SOUTH KING CO U N T Y

O F F E R E D AT $2,400,000 | J O H N L S C OT T. C O M / 77 292

Q4 2019

Q4 2018

O F F E R E D AT $1,648,000 | J O H N L S C OT T. C O M / 13173

% Change

Number of Sales

129

110

14.7%

Total Dollar Volume

$123,532,150

$104,989,215

15.0%

Average Sales Price

$957,614

$954,447

0.3%

Median Sales Price

$860,211

$830,000

3.5%

Average Days on Market

64

50

21.9%

Sold / List Price %

97.30%

97.50%

-0.2%

Average Price per SQFT

$259

$265

-2.3%

Quarter-end inventory

127

139

-8.6%

IN Q4 WE SAW A 14.7% 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.

2019 Q4 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 $1,289,950 | J O H N L S C OT T. C O M / 40546

PIERCE COUNTY

Q4 2019

Q4 2018

% Change

Number of Sales

157

107

31.8%

Total Dollar Volume

$160,426,097

$103,515,777

35.5%

Average Sales Price

$1,021,822

$967,437

5.3%

Median Sales Price

$870,000

$890,000

-2.3%

Average Days on Market

82

72

12.2%

Sold / List Price %

97.30%

96.50%

0.9%

Average Price per SQFT

$269

$261

2.9%

Quarter-end inventory

172

146

17.8%

IN Q4 WE SAW A 31.8% SALES INCREASE 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.

P E N D I N G | J O H N L S C OT T. C O M / 56 4 5 6

KITSAP COUNTY

Q4 2019

Q4 2018

% Change

Number of Sales

98

100

-2.0%

Total Dollar Volume

$124,389,847

$122,087,323

1.9%

Average Sales Price

$1,269,284

$1,220,873

3.8%

Median Sales Price

$1,095,083

$1,035,000

5.5%

Average Days on Market

74

51

31.1%

Sold / List Price %

97.10%

97.50%

-0.4%

Average Price per SQFT

$354

$379

-0.7%

Quarter-end inventory

59

65

-9.0%

OVERALL, AV E R A G E D AY S ON MARKET ARE U P 31.1% 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 Q4 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 $2,198,000 | J O H N L S C OT T. C O M / 60352

Q4 2019

Q4 2018

% Change

Number of Sales

44

42

4.76%

Total Dollar Volume

$71,974,025

$67,082,015

7.30%

Average Sales Price

$1,635,773

$1,597,191

2.40%

Median Sales Price

$1,365,650

$1,414,500

-3.50%

Average Days on Market

108

75

44.00%

Sold / List Price %

96.50%

97.60%

-1.20%

Average Price per SQFT

$428

$441

-2.90%

Quarter-end inventory

25

10

150.0%

83 % OF LUXURY SALES ACTIVITY ON BAINBRIDGE ISLAND TAKES PLACE IN THE $1 TO $1.5 MILLION RANGE; THIS RANGE IS CURRENTLY AT A SHORTAGE OF INVENTORY

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.

SNOHOMISH COUNTY

O F F E R E D AT $1,600,000 | J O H N L S C OT T. C O M / 34 331

Q4 2019

Q4 2018

% Change

Number of Sales

343

327

4.7%

Total Dollar Volume

$334,875,535

$318,938,088

4.8%

Average Sales Price

$976,314

$975,346

0.1%

Median Sales Price

$855,000

$860,000

-0.6%

Average Days on Market

57

58

-0.2%

Sold / List Price %

97.90%

97.50%

0.4%

Average Price per SQFT

$293

$294

-0.3%

Quarter-end inventory

198

163

21.5%

Q4 SAW A 4.7% SALES INCREASE IN SNOHOMISH COUNTY

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 Q4 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 $1,475,000 | J O H N L S C OT T. C O M / 52044

ISLAND COUNTY

Q4 2019

Q4 2018

% Change

Number of Sales

35

21

40.0%

Total Dollar Volume

$35,498,583

$19,998,474

43.7%

Average Sales Price

$1,014,245

$952,308

6.1%

Median Sales Price

$890,000

$850,000

4.5%

Average Days on Market

94

52

44.7%

Sold / List Price %

94.60%

96.40%

-1.9%

Average Price per SQFT

$323

$333

-3.0%

Quarter-end inventory

57

55

3.6%

OVERALL, THE AV E R A G E S A L E S P R I C E I S U P 6.1% I N 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 Q4 2019

Q4 2018

% Change

Number of Sales

46

34

26.1%

Total Dollar Volume

$142,253,055

$111,707,200

21.5%

Average Sales Price

$3,092,458

$3,285,506

-6.2%

Median Sales Price

$2,257,500

$2,575,000

-14.1%

Average Days on Market

50

27

46.0%

Sold / List Price %

96.30%

96.50%

-0.2%

Average Price per SQFT

$855

$957

-12.0%

Quarter-end inventory

44

36

22.2%

09 07

LAKE SAMMAMISH Q4 2019

Q4 2018

% Change

Number of Sales

20

16

20.0%

Total Dollar Volume

$52,347,595

$43,480,500

16.9%

Average Sales Price

$2,617,380

$2,717,531

-3.8%

Median Sales Price

$1,950,000

$1,862,500

4.5%

Average Days on Market

69

43

37.7%

Sold / List Price %

96.20%

92.60%

3.8%

Average Price per SQFT

$642

$728

-13.4%

Quarter-end inventory

14

11

27.3%

KING COUNT Y

Q4 2019

Q4 2018

% Change

Number of Sales

122

103

15.6%

Total Dollar Volume

$294,635,050

$245,882,090

15.6%

Average Sales Price

$2,415,041

$2,387,205

1.2%

Median Sales Price

$1,810,000

$1,730,000

4.4%

Average Days on Market

57

40

29.8%

Sold / List Price %

96.10%

95.70%

0.4%

Average Price per SQFT

$638

$701

-9.8%

Quarter-end inventory

116

104

11.5%

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 Q4 LU X U R Y M A R K E T T R E N D S

F E AT U R E D

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

SEATTLE, WA | $2,995,000 1 6 0 0 3 5 T H AV E S E AT T L E , WA 9 8 1 2 2

MICHELLE TAFOLLA 425-770-1985 MTafolla@johnlscott.com

One-of-a-kind luxurious oasis in an enchanting neighborhood within minutes of vibrant downtown Seattle. This elegant colonial estate in Madrona offers flawless craftsmanship, noteworthy updates and enduring, private outdoor living spaces. Spanning over 5600 sqft, this exquisite 5 bedroom, 5.25 bathroom radiates charm and grandeur throughout the home from original fixtures & built-ins to a high-end chef’s kitchen and a magnificent custom-designed master bathroom.

Prominent updates include a state-of-the-art home theater, a 2000 bottle wine cellar & cabinet with storage space and Brazilian sucupira hardwood flooring. Recent remodeling includes an attached 1-car garage which gives this estate an unheard-of total of 3 covered garage spaces. Other features include a mother-in-law suite complete with a washer and dryer, kitchen, living room and private entrance. Perfect for your guests or in-home caregiver. Picturesque views of Lake Washington & Bellevue add to its beauty. This distinguished estate is an absolute treasure in coveted Madrona.

2019 Q4 LU X U R Y M A R K E T T R E N D S

KELSO, WA | $3,375,000 3400 A L L E N S T K E L S O, WA 98626

MARCEL DOLAK 425-466-5870 Onerealtor@gmail.com

Absolute tranquility welcomes you as you travel over your private bridge to over 344 acres of serenity. Gorgeous modern farmhouse with high-end details. Gourmet chef’s kitchen with stainless steel appliances, Quartz and Butcher block counters, wide plank wood floors, designer lighting, lavish master suite, and no detail spared creating a home cohesive to its surroundings. Enjoy incredible morning sunrises and vivid evening sunsets from nearly every room.

Over two miles of riverfront, with a multitude of possible uses; Forestry, farming, equestrian, and hunting. Approximately $2 million worth of timber. Please watch the property video for highlights and aerial images which can be found at: https://vimeo.com/336221422

WHAT’S E A S TON E RTHE N MARKET?

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

2019 Q4 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 $2,100,000 | J O H N L S C OT T. C O M /94368

Q4 2019

Q4 2018

% Change

Number of Sales

67

67

0.00%

Total Dollar Volume

$96,046,800

$85,724,891

10.70%

Average Sales Price

$1,433,534

$1,279,476

10.70%

Median Sales Price

$1,025,000

$1,150,000

-12.20%

Average Days on Market

133

122

8.30%

Sold / List Price %

91.30%

94.40%

-3.50%

Average Price per SQFT

$347

$320

7.90%

Quarter-end inventory

118

N/A

N/A

Q4 2019

Q4 2018

% Change

Number of Sales

37

23

37.80%

Total Dollar Volume

$34,672,575

$22,271,812

35.80%

Average Sales Price

$937,097

$968,340

-3.30%

Median Sales Price

$828,000

$846,413

-2.20%

Average Days on Market

67

73

-9.00%

Sold / List Price %

94.00%

95.40%

-1.50%

Average Price per SQFT

$173

$188

-8.60%

Quarter-end inventory

71

71

N/A

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 Q4 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 $2,250,000 | JOHNLSCOT T.COM/10980

Luxury sales in Portland were positive in the last quarter of 2019, and both East Portland and West Portland luxury buyers benefit from excellent selection.

PORTLAND PORTLAND EASTSIDE WESTSIDE

Given low interest rates and luxury inventory levels, many high-net-worth buyers in the Portland market will have the opportunity to “price jump� into a home in a higher price range this year.

Q4 2019

Q4 2018

% Change

Number of Sales

23

26

-11.5%

Total Dollar Volume

$28,463,569

$33,319,310

-14.6%

Average Sales Price

$1,237,546

$1,281,512

-3.4%

Median Sales Price

$1,205,000

$1,206,845

-0.2%

Average Days on Market

113

106

6.6%

Sold / List Price %

96.80%

97.40%

-0.6%

Average Price per SQFT

$294

$285

3.1%

Quarter-end inventory

65

61

6.6%

Q4 2019

Q4 2018

% Change

Number of Sales

147

122

20.4%

Total Dollar Volume

$224,259,434

$179,425,960

25.0%

Average Sales Price

$1,525,574

$1,470,705

3.7%

Median Sales Price

$1,277,000

$1,285,000

-0.6%

Average Days on Market

106

98

8.1%

Sold / List Price %

97.00%

95.30%

1.8%

Average Price per SQFT

$355

$321

10.5%

Quarter-end inventory

273

272

0.4%

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 2019 was a record year for luxury homes going under contract in Bend, and we anticipate the luxury market will have healthy sales activity intensity in 2020 for homes priced $900,000 to $1.5 million. This range comprises 71 percent of local luxury sales activity.

Given low interest rates and luxury inventory levels, many high-networth buyers in the Bend market will have the opportunity to “price jump� into a home in a higher price range this year.

O F F E R E D AT $1,095,000 | J O H N L S C OT T. C O M / 61573

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 Q4 LU X U R Y M A R K E T T R E N D S

BEND

Q4 2019

Q4 2018

% Change

Number of Sales

117

119

-1.7%

Total Dollar Volume

$122,871,800

$115,983,605

5.6%

Average Sales Price

$1,050,186

$974,652

7.2%

Median Sales Price

$899,000

$847,100

5.8%

Average Days on Market

118

101

14.4%

Sold / List Price %

93.60%

97.00%

-3.7%

Average Price per SQFT

$327

$303

7.4%

Quarter-end inventory

89

120

-25.8%

THE CURRENT LUXURY MARKET CONDITIONS REMAIN STRONG WITH BUYERS RELOCATING FROM OUTSIDE THE AREA – DANIELLE SNOW LUXURY BROKER

O F F E R E D AT $1,200,000 | J O H N L S C OT T. C O M / 54853

% Change

Number of Sales

39

33

15.4%

Total Dollar Volume

$38,418,263

$33,606,500

12.5%

Average Sales Price

$985,084

$1,018,379

-3.4%

Median Sales Price

$860,000

$939,500

-9.2%

Average Days on Market

163

132

19.0%

Sold / List Price %

95.40%

91.30%

4.3%

Average Price per SQFT

$272

$282

-3.7%

Quarter-end inventory

27

26

3.8%

NUMBER OF SALES

†

Q4 2018

+15.4%

DAYS ON MARKE T

†

JACKSON COUNTY

Q4 2019

+19.0%

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.

2019 Q4 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 $1,395,000 | J O H N L S C OT T. C O M / 12791

CLARK CO U N T Y

Q4 2019

Q4 2018

% Change

Number of Sales

88

63

28.4%

Total Dollar Volume

$83,914,781

$61,047,216

-27.3%

Average Sales Price

$953,577

$969,003

-1.6%

Median Sales Price

$825,000

$885,000

-7.3%

Average Days on Market

107

93

-13.1%

Sold / List Price %

96.40%

96.00%

0.4%

Average Price per SQFT

$230

$238

-3.6%

Quarter-end inventory

186

145

28.3%

Q 4 S AW A 28. 4% I N C R E A S E I N NUMBER OF SALES I N C L A R K CO U N T Y

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.

LU X U R Y T R E N D S A new decade brings new innovations. In 2020, we will see continued improvement of smart home integration and also more emphasis on home wellness. Gray won’t necessarily go out of style, but bold, rich colors will be introduced into interior details like paint, décor and kitchen cabinets. Will any of these trends enhance your lifestyle?

C R E AT I N G A N E L E G A N T A N D E N J O YA B L E S M A R T H O M E As more and more products enter the home automation market, how can we maintain an enjoyable experience with our technology? What if our technology could actually provide additional health benefits?

Streamline your Smart Home with Control4 Control4, the leading smart home automation provider recently announced the release of its Smart Home OS 3, providing users with more than 1,000 new features for unparalleled personalization of their Control4 smart home operating system.

The intuitive new interface unlocks a world of personalization never seen before in a smart home system.

Users can create favorites in each room, whether that’s the news station in the living room or the overhead lights in the kitchen, creating a customized and simplified way of navigating any room in the home.

The system also allows for access to vital smart home devices from anywhere- great for homeowners with multiple residences. Consolidating devices such as door locks, security cameras, lighting, and shades into a single screen allows the user to view them quickly and easily.

To learn more, visit wipliance.com/control4.

Human-Centric Lighting: Ketra & Lutron Homeworks QS Natural sunlight is vital in regulating our circadian rhythm for better sleep, reduced stress, and greater physical wellbeing.

With Ketra tunable lighting technology and the power of Lutron’s HomeWorks QS control system, it is now possible to experience personalized tunable light at home at just the touch of a finger. Tunable lighting simulates the sun’s natural light patterns, which regulate important hormones in our bodies that help us sleep better at night and stay active during the day.

During the day, Ketra’s automated human centric lighting not only enhances overall health but adds a spark to your décor as well, accentuating art and architecture.

What’s more, Ketra tunable lighting lets you design your home spaces with an unlimited palette of white, color, and pastel lighting. You can fine-tune vibrancy at will with dimming so comprehensive that it can even simulate a candle’s flame.

No matter the occasion, Ketra lighting can perfectly set the tone. To learn more about Ketra and Lutron, visit wipliance.com/ketra.

Provided by: Wipliance – Smart Home Automation (Bellevue, WA)

2019 Q4 LU X U R Y M A R K E T T R E N D S

A B O L D N E W LO O K W I T H B LU E I N 2020 A highly anticipated lifestyle announcement that happens every December is Pantone’s Color of the Year. This year, the team at Pantone went a different direction from the vibrant 2019 color, Living Coral 16-1546 and selected the casual Classic Blue 19-4052 as Pantone Color of the Year 2020. Pantone described the selection as “Instilling calm, confidence, and connection, this enduring blue hue highlights our desire for a dependable and stable foundation on which to build as we cross the threshold into a new era.” If you are looking to incorporate Classic Blue as a bold statement in your home, try using it as an accent wall in a study, bedroom, nook or even as a new front door color.

Looking for something a little more subtle? The color is a chic look for a sofa, rug, curtains and lighting fixtures.

SPICY P I N E A P P L E M A R G A R I TA This spicy cocktail is featured at the Living Room Bar located in the W Bellevue.

Visit marriott.com/hotels/travel/bvuwh-w-bellevue for bar hours.

Ingredients: 1 ½ ounces Patron Silver 2 ounces pineapple juice ½ ounce Cointreau ½ ounce fresh lime juice ¼ ounce habanero agave syrup

Instructions: For the agave syrup, in a small pot, bring 3 ounces of water and 1 medium habanero (including seeds) to a boil.

Remove from the heat and allow to steep for 5 minutes. Strain and add 6 ounces of agave. Stir to combine and let cool.

Shake ingredients in a shaker full of ice cubes and pour into a black Hawaiian salt-rimmed highball glass. Garnish with a grilled triangle of pineapple and candied habanero.

O F F E R E D AT $3,621,000 | J O H N L S C OT T. C O M /34858

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