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coldwellbankerbain.com
SEATTLESEATTLE 2 0 1 9 M A R K E T R E P O R T
Helping people buy and sell homes in the Pacific Northwest since
1972, Coldwell Banker Bain is an undisputed market leader, posting
nearly $6 billion in sales in 2019. With 30 offices and more than
1,300 brokers in Washington and Oregon, plus a global reach that
extends to 92,000 brokers in 44 countries, we’re not only one of
the largest Coldwell Banker affiliates in the world, we’re also the
most accomplished real estate company in the Northwest.
Our commitment to knowledge, expertise and market insights consistently undergirds our
reputation for excellence and service. An emphasis on global access in the luxury realm,
combined with the power, reach and recognition of the Coldwell Banker brand, allows
us to outsell and outperform our rivals, as we elevate the standard for marketing premier
properties in the Puget Sound are and the Pacific Northwest.
As important to us as business success— we also provide services in property management,
commercial real estate, real estate investment and relocation management— is the
understanding that real estate is more than just a transaction; it’s a key part of building
safe, happy and prosperous lives for our clients, our brokers and their families.
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT 3
COLDWELL BANKER BAIN PRESIDENT & COOMIKE GRADY
2019 ANN
UAL REPORT
Reflecting on the 2019 numbers and the interesting
turn of the market in the fourth quarter, Mike
Grady, Coldwell Banker Bain president and COO,
said, “As we closed out the year, 2019 turned out to
be quite different than we had expected. We expected
that because the double-digit appreciation of home
prices had modified in May 2018, more sellers would
proceed with selling their existing homes in 2019.
This, of course, would have resulted in more inventory,
stabilizing prices even more while increasing units
sold. Had this transpired, 2019 would have resulted in
increased volume as a result of more units and slightly
higher average sales prices than in 2018.
However, that didn’t happen. Instead, the ‘aberration’
we saw in November continued… so perhaps it’s not
an aberration after all and we may be returning to the
‘old normal.’ December of 2019 proved to be better
than December of 2018 in just about every single
category – this notwithstanding weather that was not
as mild as last year, and weather typically has an impact
on sales. Yet we see again that the number of pending
transactions outpaced the number of listings taken
along with an increased appreciation. With inventory
in King County below one month, we can only surmise
that 2020 will show a return to rising home prices as
a result of the lack of inventory and continued robust
job market. So, while buyers continue to benefit from
low interest rates, there are simply not enough homes
for sale and the market, once again, is leaning more
strongly toward sellers. These predictors indicate that
the first quarter of 2020 will be active.”
4 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
John Deely, Principal Managing Broker of Lake Union
and Madison Park, said, “The average sold price, in the
selected Seattle areas, was down from the previous
year, due primarily to the increase in inventory during the
first three quarters of the year. In the last quarter of the
year, however, buyer demand was high and inventory
dropped rapidly. The number of sold properties was up
over 11% from the previous year.
Condos were flat in terms of the number of properties
sold as average prices slid 6.2% for the year. All
categories had an increase in the time it took to sell, with
condos seeing the largest increase of any category. It
took over 45 days, on average, to sell a condo.
Luxury listings, representing properties priced over $2
million, decreased more than 10% in 2019. Overall
inventory in this category dropped rapidly at the end
of the year due to high buyer demand and seasonal
reduction in supply. Cash buyers were plentiful
in this category and included both local and
international buyers.
PRINCIPAL MANAGING BROKER OF LAKE UNION & MADISON PARKJOHN DEELY
2019 ANN
UAL REPORT
TOTAL SALES CLOSED
5248
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT 5
29
33
52
36
36
31
37
42
31
45
79
70
Ballard & Green Lake
Capitol Hill
Madison Park
Magnolia NE SeattleSeattle Central
S. Lake Union & Queen Anne
West Seattle
Condos Waterfront Luxury
NUMBER OF SALES CLOSED
SEATTLE AREABALLARD & GREEN LAKE / CAPITOL HILL / MADISON PARK / MAGNOLIA / NE SEATTLE / SEATTLE CENTRAL / SOUTH LAKE UNION & QUEEN ANNE / WEST SEATTLE
Madison Park
Capitol Hill
NE Seattle
Magnolia
Seattle Area
Seattle Central
West Seattle
S. Lake Union & Queen Anne
Ballard & Green Lake
Condos
Waterfront (SF Only)
Luxury ($2+M | SF+C)
$500K $1M $1.5M $2M $2.5M $3M
$986K
$859K
$1.261M
$1.547M
$941K
$1.163M
$907K
$1.248M
$867K
$513K
$1.687M
$2.858M
AVERAGE SOLD PRICE (NEAREST $000) AVERAGE DOM
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
500
400
300
200
100
0
1694 1263
350
300168
85
226725
363 385
1588
Ballard & Green Lake
Capitol Hill
Madison Park
Magnolia NE Seattle Seattle Central
S. Lake Union & Queen Anne
West Seattle
Condos Waterfront Luxury
INVENTORY IN UNITS / 12.31.2019
68-41.9%
TOTAL SEATTLE INVENTORY / 330 -32.2%
17-50.0%
26-13.3%
20-48.7%
74-22.1%
75-3.8%
24-55.6%
26-35.0%
173-27.9%
17-37.0%
42-27.6%
6 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
TO
TAL
SE
AT
TL
E A
RE
AC
on
do
s
$986KAVERAGE SOLD PRICE
DOWN -4.00% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 5248 4715 +11.3%
AVERAGE SOLD PRICE $986,000 $1,027,000 -4.00%
AVERAGE DAYS ON MARKET 33 20 +65.0%
SOLD/LIST PRICE% 98% 101% -3%
$513KAVERAGE SOLD PRICE
DOWN -6.20% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 1588 1590 -0.10%
AVERAGE SOLD PRICE $513,000 $547,000 -6.20%
AVERAGE DAYS ON MARKET 45 20 +125%
SOLD/LIST PRICE% 97% 101% -4%
SEATTLE AREA
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT 7
WA
TE
RF
RO
NT
LU
XU
RY
$1.687MAVERAGE SOLD PRICE
DOWN -24.2% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 85 64 +32.8%
AVERAGE SOLD PRICE $1,687,000 $2,226,000 -24.2%
AVERAGE DAYS ON MARKET 79 61 +29.5%
SOLD/LIST PRICE% 91% 96% -5%
$2.858MAVERAGE SOLD PRICE
DOWN -0.20% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 226 252 -10.3%
AVERAGE SOLD PRICE $2,858,000 $2,864,000 -0.20%
AVERAGE DAYS ON MARKET 70 53 +32.1%
SOLD/LIST PRICE% 94% 96% -2%
SEATTLE AREA
8 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
SEATTLE AREA
BA
LL
AR
D/G
RE
EN
LA
KE
CA
PIT
OL
HIL
L
$859KAVERAGE SOLD PRICE
DOWN -4.40% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 1694 1408 +20.3%
AVERAGE SOLD PRICE $859,000 $899,000 -4.40%
AVERAGE DAYS ON MARKET 29 14 +107%
SOLD/LIST PRICE% 99% 103% -4%
$1.261MAVERAGE SOLD PRICE
DOWN -9.60% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 168 153 +9.80%
AVERAGE SOLD PRICE $1,261,000 $1,395,000 -9.60%
AVERAGE DAYS ON MARKET 52 32 +62.5%
SOLD/LIST PRICE% 95% 96% -1%
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT 9
SEATTLE AREAM
AD
ISO
N P
AR
KM
AG
NO
LIA
$1.547MAVERAGE SOLD PRICE
DOWN -1.00% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 300 279 +7.50%
AVERAGE SOLD PRICE $1,547,000 $1,563,000 -1.00%
AVERAGE DAYS ON MARKET 36 24 +50.0%
SOLD/LIST PRICE% 97% 100% -3%
$1.163MAVERAGE SOLD PRICE
DOWN -5.10% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 350 328 +6.70%
AVERAGE SOLD PRICE $1,163,000 $1,226,000 -5.10%
AVERAGE DAYS ON MARKET 36 30 +20.0%
SOLD/LIST PRICE% 97% 99% -2%
10 2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT
NE
SE
AT
TL
ES
EA
TT
LE
CE
NT
RA
L
$941KAVERAGE SOLD PRICE
DOWN -3.40% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 1263 1213 +4.10%
AVERAGE SOLD PRICE $941,000 $974,000 -3.40%
AVERAGE DAYS ON MARKET 31 18 +72.2%
SOLD/LIST PRICE% 98% 102% -4%
$907KAVERAGE SOLD PRICE
DOWN -2.70% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 725 671 +8.00%
AVERAGE SOLD PRICE $907,000 $932,000 -2.70%
AVERAGE DAYS ON MARKET 37 22 +68.2%
SOLD/LIST PRICE% 97% 101% -4%
SEATTLE AREA
2019 ANNUAL PACIFIC NORTHWEST MARKET REPORT 11
S. L
ak
e u
nio
n/q
ue
en
an
ne
we
st sea
ttle
$1.248MAVERAGE SOLD PRICE
DOWN -1.90% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 363 330 +10.0%
AVERAGE SOLD PRICE $1,248,000 $1,272,000 -1.90%
AVERAGE DAYS ON MARKET 42 27 +55.6%
SOLD/LIST PRICE% 96% 99% -3%
$867KAVERAGE SOLD PRICE
DOWN -2.80% from 2018
2019 2018 CHANGE
TOTAL HOMES SOLD 385 332 +16.0%
AVERAGE SOLD PRICE $867,000 $892,000 -2.80%
AVERAGE DAYS ON MARKET 31 23 +34.8%
SOLD/LIST PRICE% 98% 100% -2%
SEATTLE AREA
*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS),
Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each
quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.