OREGON AND SW WA MARKET UPDATE February 2017

Portland Metro and Southwest Washington

(Multnomah, Clackamas, Washington, Columbia, & Clark Counties) Single Family Homes Resale (RMLS & Trendgraphix).

Summary: Year- over –year drops in new listings, but gains in pending sales. For Sale: (-12.1% ); Sold: (-9.4% ); Pending: (-13.1%

) Inventory: 1.7 month; Average Price Sold: 400,000 8.1 % ; Median: 355,000, 12.7% ; DOM: 47 vs. 48. Consumers are willing to pay more to get settled into a home. We should start to see an increase in activity as we move toward the spring months where more homes that come on the market will be sold quickly. As we see in Seattle Metro, we are seeing the same in the Portland area as well. “We are seeing frenzy hot activity on new listings coming on the market. We continue to see an extreme shortage where over 95% of the activity is taking place up to $750,000.” (J. Lennox Scott Chairman & CEO of John L. Scott)

Scroll down for additional markets

ADDITIONAL MARKETS

February 2017

SW Washington (Vancouver Metro/Clark County): Single Family Resale (February): For Sale: -22.3% ; Sold: -7.9% ; Pending: --8.6% ; Average Sold Price: $340,000 6.9% ; Inventory: 1.7 vs. 2 months; Median Price: $300,000 12.8% Days on Market 52 vs. 53 days. Prices continue to rise in SW Washington. (RMLS) Portland Metro (Eastside/Westside Portland): Single Family Resale (February): For Sale: -8.7% ; Sold:-9.8% ; Pending: -14.3% ; Average Sold Price: $416,000 8.3% ; Inventory: 1.2 vs. 1.1 months; Median Price: $366,000 10.9% Days on Market: 45 vs.46 days. However, prices continue to rise. (RMLS) Southern Oregon (Grants Pass, Medford & Ashland): Single Family Resale (February): For Sale:-31.5% ; Sold: -25.8% ; Pending: -11.1% ; Average Sold Price: $294,000 23% ; Inventory: 1.8 vs. 2.3 months; Median Price: $265,000 18.3% ; Days on Market: 73 vs. 59 days. Central Oregon (Bend, Redmond, Sister &, Sunriver): Single Family Resale (February): For Sale: -24.5% ; Sold: -19.9% ; Pending: -19.9% ; Average Sold Price: $421,000 11.4% ; Inventory: 2.1 vs. 2.2 months; Median Price: $345,000 19% ; Days on Market: 125 vs. 115 days. 88% of the sales activity is where there is an extreme shortage of inventory. Willamette Valley/Salem Area: Single Family Resale (February): For Sale: -2.6% ; Sold: 0.5% ; Pending: -58.6% Average Sold Price: $257,000 4.5% ; Inventory: 7.9 vs. 3.4 months; Median Price: $244,000 9.9% ; Days on Market: 103 vs.110 days. Eugene & Springfield, Oregon area: (February): For Sale: -30.1% ; Sold: -33.7% ; Pending: 1.1% ; Average Sold Price: $281,000 6% ; Inventory: 1.2 vs. 1.8 months last year; Median Price: $260,000 18.2% ; Days on Market: 48 vs. 61 days.

* Scroll down for Market Snapshots of SW WA & Portland Metro *

J. Lennox Scott, Chairman and CEO

Key Market Indicators - March 1, 2017Portland Housing Update

SURGESales Activity

Shortage of Homes for sale

Quick Market for New Listings

Portland Area Market - Based on Resale Listings and Pending Contracts (March 1, 2017) Ask your broker for the months supply for your selected price range/area.

For February 2017 March 1, 2017 Source: Freddie Mac

Percentage of HomesSelling in the First 30 Days

Historically Low Interest Rates

Months of Supply

1.11 to 2

3 to 4

5 to 6

7 to 8

9+

Shortage

Low

Healthy

Adjusting

Correction

Upper single digit +

Up single digits

Equilibrium

Down single digits

Major correction

Months Supply Level Price Trend

15yrs ago 10yrs ago 5yrs ago 1yr ago

7.70% 6.32% 4.07% 3.96%

Amazing Interest rates

1 to 2 Shortage Upper single digits +

Some John L. Scott offices are independently owned and operated.

Our robust market has created extreme conditions. We’re seeing frenzy hot activity on each new listing coming on the market. Inventory levels were driven down over the winter and we continue to experience an extreme shortage of homes available for sale in the more affordable and mid price ranges where 90% of the sales activity is taking place. We are looking forward to some relief when more inventory comes on the market in March.

Extreme Market Conditions – Frenzy Hot Activity on All New Listings

25%

55%

Normal Current

Unbelievable 3%

Amazing 4%

Fantastic 5%

Great 6%

Good 7%4.10%

J. Lennox Scott, Chairman and CEO

Key Market Indicators - March 1, 2017Vancouver Housing Update

SURGESales Activity

Shortage of Homes for sale

Quick Market for New Listings

Vancouver County Market - Based on Resale Listings and Pending Contracts (March 1, 2017) Ask your broker for the months supply for your selected price range/area.

For February 2017 March 1, 2017 Source: Freddie Mac

Historically Low Interest Rates

Months of Supply

1.11 to 2

3 to 4

5 to 6

7 to 8

9+

Shortage

Low

Healthy

Adjusting

Correction

Upper single digit +

Up single digits

Equilibrium

Down single digits

Major correction

Months Supply Level Price Trend

15yrs ago 10yrs ago 5yrs ago 1yr ago

7.70% 6.32% 4.07% 3.96%

Amazing Interest rates

1 to 2 Shortage Upper single digits +

Some John L. Scott offices are independently owned and operated.

Our robust market has created extreme conditions. We’re seeing frenzy hot activity on each new listing coming on the market. Inventory levels were driven down over the winter and we continue to experience an extreme shortage of homes available for sale in the more affordable and mid price ranges where 90% of the sales activity is taking place. We are looking forward to some relief when more inventory comes on the market in March.

Extreme Market Conditions – Frenzy Hot Activity on All New Listings

Percentage of HomesSelling in the First 30 Days

25%

55%

Normal Current

Unbelievable 3%

Amazing 4%

Fantastic 5%

Great 6%

Good 7%4.10%

Oregon / SW WA

Listings Taken - % of Monthly Average - Seasonality - Resale Only 2013 - 2017

As of February 28, 2017

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100 on the ScaleEquals Monthly

Average for Each Year

2013 2014 2015 2016 2017

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Created by Anatoliy BorisovDatabase Access Date & Time: John L. Scott - Branch Operations - Company Owned Offices3/1/2017 1:24:29PM Page 3 of 3