P ACIFIC NORTHWEST MARKET REPORT

Q1 2019

PACIFIC

NORTHWEST

MARKET REPORT

PUGET SOUND | SOUTHWEST WASHINGTON | OREGON

Coldwell Banker Bain is the #1 Coldwell Banker affiliate in the world with nearly $6.2 billion in volume in 2018, and has been helping people buy and sell homes in the Pacific Northwest since 1972. With 1,100+ brokers in 32 offices throughout Washington and Oregon, the company provides the full spectrum of services to buyers and sellers, with special expertise in the luxury realm. Additionally, the company has once again earned the national Coldwell Banker Chairman's Circle designation for outstanding performance in volume for 2018, ranking as a No. 1 network affiliate out of 3,000 offices in 48 countries. The company also provides services in property management, commercial real estate and real estate investment, and relocation management. Coldwell Banker Bain consistently ranks among the Top 20 Real Estate Companies in the nation as cited by Real Trends and RISMedia's Real Estate. For more information, visit

Q1

2019

PACIFIC NORTHWEST

MARKET REPORT

FIRST QUARTER NUMBERS

BELLEVUE, WA (April 1, 2019) ? Coldwell Banker Bain, a leading provider of real estate brokerage services throughout Washington and Oregon, and a market leader in home sales in 2018,* releases its first-quarter market report providing a variety of statistics for the sale of homes in neighborhoods and counties throughout the Puget Sound region, as well as for segments including luxury and condos. The first-quarter report reflects activity between Jan. 1, 2019 and March 31, 2019.**

Reflecting on the first-quarter numbers and feedback from brokers, Mike Grady, Coldwell Banker Bain president and COO, said, "Even during what is typically the slowest time of the year, we saw a strong market with listings to market and pending sales up an average of 9 percent and 6 percent respectively in King and Snohomish counties over this time last year. Snohomish and Pierce counties continue to impress with price appreciation averaging 5.5 percent, while appreciation in King stayed about even. Although closed sales were down a bit, we believe that is a result of a slowdown in the ability to facilitate the closing of pending transactions due to our snowy weather conditions in February, which impacted business operations around the region. Most notably in determining the strength of our market is how close the number of new listings and new pending transactions were, resulting in inventory remaining less than two months in most areas. We expect the market to continue these trends, especially as we head into what is always the busiest time of the year."

LINCOLN SQUARE SOUTH/EASTSIDE AREA

Jennifer JohnsenCameron, Coldwell Banker Bain's Vice President of Global Luxury and Principal Managing Broker of Coldwell Banker Bain of Lincoln Square, said, "All eyes are on Bellevue, given Amazon's announcement of its plans to relocate its entire Seattle-based worldwide operations team across Lake Washington to its birthplace, beginning immediately and completed by 2023. The question on everyone's mind is how this will affect the Seattle Metro market. The effects remain to be seen but will most likely increase activity in the Eastside

market, especially given that commutes will be easier with the light rail East Link Extension slated to open in 2023.

With inventory up both in Seattle and Eastside markets, buyers have become more finicky while sellers have been pressured to become more realistic about pricing their homes across all price points. Multiple offers still exist but we simply are not seeing the escalation clauses with `the sky's the limit' that we saw over the past few years. As we head into spring we expect a traditional upswing as the market remains cyclical, but with a more moderate increase than we saw last year."

Q1 | 2019 PACIFIC NORTHWEST MARKET REPORT

EASTSIDE AREA

Bellevue | Bothell | Duvall - Carnation | Kirkland | Issaquah - Sammamish | Mercer Island Redmond | Woodinville

SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY

AVERAGE SOLD PRICE (Nearest $000)

Eastside Area $1,041,000

Bellevue $1,332,000

Bothell $703,000

Duvall - Carnation $642,000

Kirkland $1,088,000

Issaquah - Sammamish $978,000

Mercer Island $1,841,000

Redmond $1,050,000

Woodinville $956,000

Area Condos $562,000

Area Waterfront (SF Only) $1,831,000

Area Luxury ($2+M | SF+C) $2,765,000

$0K

$500K

$1000K

$1500K

$2000K

$2500K

AVERAGE DOM

57 51 57 66 46 68 54 50 72 49 99 93

$3000K

NUMBER OF SALES CLOSED

600

500

400

300

200

311

207

100

59 203

0

Bellevue

Bothell

Duvall, Carnation

Kirkland

277

Issaquah, Sammamish

60

Mercer Island

INVENTORY IN UNITS - 04/01/2019 Total Eastside Inventory 1213 +99.8% % of change from 2018

193

+67.8%

Bellevue

218

+124.7%

Bothell

61

+154.1%

Duvall, Carnation

172

+91.1%

Kirkland

262

+96.6%

Issaquah, Sammamish

83

+62.7%

Mercer Island

532

140

Redmond

107

Woodinville

Area Condos

132

+206.9%

Redmond

92

+70.3%

Woodinville

351

+160.0%

Area Condos

1364

Total Eastside Sales Closed

29

75

Area Waterfront (SF Only)

Area Luxury ($2+M / SF+C)

62

+21.5%

Area Waterfront (SF Only)

200

+34.2%

Area Luxury ($2+M / SF+C)

Q1 | 2019 PACIFIC NORTHWEST MARKET REPORT

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