Compass PNW Q2 2021 Market Insights

PAC I F I C NORTHWE ST

Greater Seattle –Q2 2021 Market Report

Neighborhood Expertise– By the numbers

The market trends show that Washington State has persevered through the unexpected. Home prices have stayed consistent from last year and increased on the Eastside. Sales have bounced back and are outperforming the same time period in 2020. A strong third quarter is expected for the remainder of the year for Seattle and the Eastside. Compass brokers continue to guide new families to find their place here in the Pacific Northwest.

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*All data sourced via Trendgraphix, Single Family & Condo, Q2 2020 vs Q2 2021

*Source via Trendgraphix May 2018-January 2020 **Source via Trendgraphix, $3m+, 2020

R E SULTS OR I ENT ED

Since its arrival in the Evergreen State in 2018, Compass Washington has garnered a distinguished track record of success as King County’s primary luxury brokerage.

Offices Compass PNW Brokers Twelve 800+

Transactions since launching Compass Washington* $16.1B+

No. 1

Brokerage in King County for high-end listings**

16K+ $37.5M

Closed transactions since launching Compass Washington*

Number one sale in NWMLS history

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A Letter to Our Clients

parents from afar. Parts of our lives will be forever changed. However, one thing that hasn’t changed is our commitment to helping our friends and neighbors find their place in the world. For us, our place in the world is right here, in the Greater Seattle area, and there’s nowhere else we’d rather call home. This report is designed to help you feel more informed about the state of the Greater Seattle Area real estate market. We’re here to help you map out plans for the future, guiding you with perspective honed by years of experience. Our goal is simple: to equip you to make a more informed decision as to where you call, “Home.”

“Stay-at-home.” It’s a phrase that was at the top of our minds and all over the news for the past several months. With more time spent on video calls in our home offices, more meals cooked in our kitchens, and more walks around our neighborhoods, our homes have taken on new importance and our desire to feel at home has multiplied. At Compass, we are in the home buying and selling business. It’s who we are. It inspires us, invigorates us, and helps us invest in our families, and yours. We are parents, friends, and caretakers too— homeschooling our kids in between virtual meetings, celebrating birthdays on front lawns, and visiting with

View comprehensive neighborhood guides at compass.com/neighborhood-guides/seattle.

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New Listings

I N GR EAT E R S EAT T L E COUNT I E S

15,000 12,500 10,000 7,500 5,000 2,500 0

Q2 2020 Q2 2021

Q2 2020 Q2 2021

Q2 2020 Q2 2021

Q2 2020 Q2 2021

Q2 2020 Q2 2021

K I NG COUNT Y

P I E RCE COUNT Y

WHATCOM COUNT Y

SNOHOM I SH COUNT Y

S KAG I T COUNT Y

New Solds

I N GR EAT E R S EAT T L E COUNT I E S

15,000 12,500 10,000 7,500 5,000 2,500 0

Q2 2020 Q2 2021

Q2 2020 Q2 2021

Q2 2020 Q2 2021

Q2 2020 Q2 2021

Q2 2020 Q2 2021

K I NG COUNT Y

P I E RCE COUNT Y

WHATCOM COUNT Y

SNOHOM I SH COUNT Y

S KAG I T COUNT Y

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County Overview The Greater Seattle Area had an exceptional Q2.

$775K

13

107.03%

K I NG COUNT Y

Sold to List Price %

Median Sales Price

Average DOM

$500K

11

104.97%

P I E RCE COUNT Y

Sold to List Price %

Median Sales Price

Average DOM

$4509K

21

103.72%

WHATCOM COUNT Y

Sold to List Price %

Median Sales Price

Average DOM

$650K

12

106.89%

SNOHOM I SH COUNT Y

Sold to List Price %

Median Sales Price

Average DOM

$485K

17

103.28%

S KAG I T COUNT Y

Sold to List Price %

Median Sales Price

Average DOM

1 0

Fannie Mae U.S. Home Sales Forecast Experts believe that the housing market will rebound faster than previously forecasted and upgraded its forecast for 2022 annual growth from 4.2% to 3.1% decrease from 2020.

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

Q1 2020

Q2 2020

Q2 2020

Q4 2020

Q1 2021

Q2 2021

Q2 2021

Q4 2021

Q1 2021

Q2 2021

Q2 2021

Q4 2021

1 2

Home Design Trends 2021

The moment a prospective buyer steps into a home, they begin to imagine it as their own. So it’s no surprise that beautifully-designed and decorated houses sell faster. Whether you’re getting ready to prepare your home for the market, or just want to make it a place that you can enjoy while spending more time there, here are 5 design trends for 2021 from the National Association of Realtors.

A L A I D - BACK L I F E ST YL E As we move forward, combining classical and modern design elements will transform any space with a new and fresh look. If we are working and living at home, why not look for ways to make our home more meaningful? NATURAL E L EMENTS As consumers connect more with nature, we will continue to see greenery, macrame, and Scandinavian-style furnishings and decorative styles that bring softness into our living spaces.

MACCENT WAL L S Wood-paneled accent walls in the living or dining areas are making a comeback in chic and modern ways. Look for stripes, textures, wood finishes, subtle or bold paint colors, and even wallpaper that looks like works of art. F L EX S PACE S Families are rethinking the purpose of rooms and transforming them into multifunctional spaces. Flexible spaces are being given a true purpose as the trend of remote work continues in 2021.

DECORAT I VE L I GHT I NG

Unique and artful lighting is stealing the scene in living rooms, dining areas, and even in the bedroom. We will continue to see a mix of materials, finishes, and styles of lighting that are expanding our point of view.

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MONTHLY SUPPLY An estimated time it would take to sell all current active listings based on the trailing 12-month sales rate. % LIST PRICE TO CLOSED PRICE Also known as the “Sale-to-List Ratio”. This is the ratio of the final sale price of a home to its list price or asking price. The ratio is an indication of whether homes are selling above, at or below list prices. Figuring out this ratio is a simple two-step process: Divide the selling price by the asking price. Multiply the result by 100 to make it a percentage.

Glossary

CLOSED SALES Figures for the current quarter are based on known closings recorded at the time the report is prepared. AVERAGE SALE PRICE The sum of all prices divided by the total number of properties.

MEDIAN PRICE The middle price of a given data set.

QUARTERS 1 Q January 1 – March 31 2Q April 1 – June 30 3Q July 1 – September 30 4Q October 1 – December 31

AVERAGE DAYS ON MARKET Calculated by how many properties entered contract during the quarter in the given period.

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Maximize the value of your home.

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Get started at compass.com/concierge

COSMET I C RENOVAT I ONS

FRESH PA I NT

STRATEG I C STAG I NG

UPDATED F LOOR I NG

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Virtual Agent Services

At Compass, the health and safety of our agents, clients, staff, and the communities where they live, play, and work is our #1 priority. By pairing the industry’s top agent talent with technology, we’re able to make the home buying and selling experience intelligent and seamless. We are pleased to offer Compass VAS (virtual agent services) – an exclusive suite of marketing and transactional services available to all Compass clients.

OFFERINGS INCLUDE Virtual Open Houses Interactive Home Tours Virtual Neighborhood Tour Video Mail Digital Listing Brochures

Live Postcards Digital Insights Enhanced 3D Staging

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COMPASS IS A LICENSED REAL ESTATE BROKER AND ABIDES BY EQUAL HOUSING OPPORTUNITY LAWS.

TAB L E OF CONT ENTS

2 3 2 7 3 1 3 5 39 4 3 47

5 1 5 5

75 79 8 3 87 9 1 95 1 0 1

BAINBRIDGE BELLEVUE BELLINGHAM BOTHELL BURIEN DUVALL EDMONDS

EVERETT FALL CITY + SNOQUALMIE

LYNNWOOD MAPLE VALLEY MERCER ISLAND REDMOND SAMMAMISH SEATTLE ALKI

59 63 67 7 1

ISSAQUAH KENMORE KENT & RENTON KIRKLAND

1 03 1 0 5 1 07 1 0 9 1 1 1 1 1 3

1 1 7 1 1 9 1 2 1 1 2 3 1 2 5 1 2 7

1 2 9 1 3 1 1 3 3 1 3 5 1 3 7 1 39 1 41

1 4 3 1 4 5 1 47 1 5 1 1 5 5

BALLARD BEACON HILL CAPITOL HILL CENTRAL AREA DENNY TRIANGLE DOWNTOWN + BELLTOWN EASTLAKE + SLU

FREMONT LAURELHURST GREEN LAKE + GREENWOOD LESCHI MADISON PARK MADRONA

MAGNOLIA MAPLE LEAF NORMANDY PARK PHINNEY RIDGE QUEEN ANNE RAINIER BEACH SHORELINE

WALLINGFORD WEST SEATTLE SNOHOMISH TACOMA WOODINVILLE

1 1 5

2 2

47. 6 47 3 - 1 2 2 . 5 4 4 8

Bainbridge– Breathtaking

Close transactions are up from the same quarter last year as buyers from the Greater Seattle neighborhoods move to the Island. With large lot sizes and community feel, Bainbridge is thriving coming out of COVID-19.

Puget Sound and Olympics views

24

BA I NBR I DGE I NS I GHTS Growing housing market with soaring home values.

POPULATION 25,298

MEDIAN INCOME $115,230

SCHOOL DISTRICT Bainbridge Island

Q2 2020 Sales % Change 124 152 ↑22.6% Q2 2021 Sales

$1,157,500

↑35.2%

$856,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

36

18

↓50.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

26

47. 6 0 96 - 1 2 2 . 1 962

Bellevue– Heart of the Eastside, home to booming tech

Bellevue inventory had a slight increase, driving median home sales prices up slightly, as homeowners saw a rise in demand and future home values. With Expedia’s departure, Amazon and Facebook have quickly found new homes in Bellevue, bringing their employees with them.

2 8

B E L L EVUE I NS I GHTS Remains a strong sought after market with consistent growth in home values.

POPULATION 147,599

MEDIAN INCOME $112,283

SCHOOL DISTRICT Bellevue

Q2 2020 Sales % Change 381 691 ↑81.4% Q2 2021 Sales

$1,215,000

↑26.3%

$962,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

18

14

↓22.2%

Q2 2020 DOM

Q2 2021 DOM

% Change

3 0

4 8 . 75 2 3 - 1 2 2 . 4795

Bellingham– Abundant scenery from the Salish Sea to Mt. Baker

Year over year home sales have increased in the second quarter in Bellingham, while median home prices continue to rise. Continued home value appreciation paired with consistent buyer demand sets the stage for strong market performance for the remainder of 2021.

3 2

B E L L I NGHAM I NS I GHTS Significant strength in sales was seen among single-family homes in Bellingham.

POPULATION 90,665

MEDIAN INCOME $50,844

SCHOOL DISTRICT Bellingham

396 515

↑30.1%

Q2 2020 Sales

Q2 2021 Sales

% Change

$555,000

↑30.6%

$425,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

26

12

↓53.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

3 4

47. 759 9 - 1 2 2 . 2 04 6

Bothell– Popular suburban neighborhood with excellent schools

Bothell continues to be a desirable relocation community. The community saw an increase in sales, as well as a significant bump in the median home sales price this last quarter. The area saw a significant drop in average days on market, indicating buyer demand is staying consistent.

3 6

BOTHE L L I NS I GHTS The area continues to prove it’s desirability with consumers.

POPULATION 46,657

MEDIAN INCOME $94,986

SCHOOL DISTRICT Northshore

455 717

↑57.6%

Q2 2020 Sales

Q2 2021 Sales

% Change

$840,000

↑24.4%

$675,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

16

7

↓53.6%

Q2 2020 DOM

Q2 2021 DOM

% Change

3 8

47. 4 6 6 6 - 1 2 2 . 3 41 2

Burien– A treasured community with a rich heritage

All signs point towards a real estate market rebound in the Burien area, with new buyer demand. The number of transactions increased from 2020,with a jump in the median sales price and an increase in NWMLS search of the Burien the area.

4 0

BUR I EN I NS I GHTS Strong strength in transactions and demand, with a large jump in home values

POPULATION 51,908

MEDIAN INCOME $62,315

SCHOOL DISTRICT Highline

Q2 2020 Sales % Change 103 188 ↑85.2% Q2 2021 Sales

$577,500

↑13.0%

$511,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

20

15

↓25.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

4 2

47. 74 2 2 - 1 2 1 . 98 5 5

Duvall– Close-knit community at the banks of the Snoqualmie River

Duvall was one of the least impacted areas with home closings remaining steady during the COVID-19 market changes. Median sales prices increased with a significant decrease in days on market. Inventory moved significantly quicker in Duvall compared to last year, with homes selling above asking price.

4 4

DUVAL L I NS I GHTS Dramatic decrease in days on market with low inventory.

POPULATION 8,061

MEDIAN INCOME $156,205

SCHOOL DISTRICT Riverview

Q2 2020 Sales % Change 70 122 ↑74.3% Q2 2021 Sales

$825,000

↑19.1%

$692,500

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

22

10

↓54.5%

Q2 2020 DOM

Q2 2021 DOM

% Change

4 6

47. 8 0 59 - 1 2 2 . 3 6 8 5

Edmonds– Convenientely located near water with a small town vibe

Edmonds continues to be a desirable location with niche shopping and restaurants, and proximity to the water. Median sales prices increased from the same quarter last year and homes continue to move very quickly, with fewer days on market.

4 8

EDMONDS I NS I GHTS Strong home values with dramatic decrease in days on market.

POPULATION 42,605

MEDIAN INCOME $87,693

SCHOOL DISTRICT Edmonds

Q2 2020 Sales % Change 195 335 ↑71.8% Q2 2021 Sales

$810,000

↑29.6%

$625,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

16

9

↓43.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

5 0

47. 9789 - 1 2 2 . 2 074

Everett– A blend of rich traditions and strong community ties

Everett continues to show it is a robust real estate market with a significant increase in the median sales price. The city saw one of the largest decreases of days on market in the entire county and is expected to see a significant increase in transactions while median sales prices continue to rise.

5 2

EVE R E T T I NS I GHTS Momentous increase in median sales price.

POPULATION 111,262

MEDIAN INCOME $57,205

SCHOOL DISTRICT Everett

Q2 2020 Sales % Change 497 755 ↑51.9% Q2 2021 Sales

$570,000

↑26.7%

$450,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

17

7

↓58.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

5 4

47. 5 67 3 - 1 2 1 . 89 0

Fall City & Snoqualmie– Mountain views and rich preserved community

Fall City and Snoqualmie real estate market remained stable with an increase in transactions from the year prior. Due to a lack of inventory, sellers are seeking top value and price for their homes leading to a surge in prices. Located near an abundance of skiing, hiking, and biking - the area continues to be a nature lovers oasis.

5 6

FALL CI TY & SNOQUALMI E INS IGHTS Strength in top value for homes while inventory remaines low.

POPULATION 13,752

MEDIAN INCOME $144,148

SCHOOL DISTRICT Snoqualmie Valley

Q2 2020 Sales % Change 109 165 ↑51.4% Q2 2021 Sales

$978,750

↑18.9%

$823,195

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

24

11

↓54.2%

Q2 2020 DOM

Q2 2021 DOM

% Change

5 8

47. 5 2 96 - 1 2 2 . 03 2 6

Issaquah– The cultural center of the Eastside, alive with art and music

As the Eastside continues to flourish from the growth of major tech companies, Issaquah has benefited from economic growth. With an increase in transactions and a dramatic increase in the median sales price, the area experienced a significant decrease in days on market.

6 0

I S SAQUAH I NS I GHTS Powerful increase in sales and home values that continues to remain strong.

POPULATION 39,378

MEDIAN INCOME $101,508

SCHOOL DISTRICT Issaquah

Q2 2020 Sales % Change 205 310 ↑51.2% Q2 2021 Sales

$910,000

↑13.8%

$800,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

30

8

↓73.3%

Q2 2020 DOM

Q2 2021 DOM

% Change

62

47. 75 8 0 - 1 2 2 . 2 4 8 1

Kenmore– Conveniently located,

Kenmore continues to soar like the seaplanes as the city, and nearby Bothell, continue urban development with desirable shops and restaurants. The area proves to be a hotspot for buyers looking to relocate out of the city, with transactions going up with median sales price, and a drop on days on market.

rich in historical roots of Seattle

6 4

K ENMOR E I NS I GHTS Highly sought after with strong sales prices.

POPULATION 23,093

MEDIAN INCOME $105,007

SCHOOL DISTRICT Northshore

82 127

↑54.9%

Q2 2020 Sales

Q2 2021 Sales

% Change

$875,000

↑13.0%

$774,500

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

17

12

↓29.4%

Q2 2020 DOM

Q2 2021 DOM

% Change

6 6

47. 3 796

- 1 2 2 . 2 3 47

Kent & Renton– Forward thinking

While inventory remains stable in the area, median home sales prices have risen significantly. Properties move quickly and a dramatic drop in days on market indicates that those moving to the area are serious buyers seeking new construction, desirable shopping at The Landing and proximity to Seattle.

communities built on aviation, connection and agriculture

6 8

K ENT & R ENTON I NS I GHTS Dramatic buyer demand leading to relocation opportunities from locals

POPULATION 231,771

MEDIAN INCOME $71,818

SCHOOL DISTRICT Kent, Renton, and Issaquah

Q2 2020 Sales % Change 815 1,223 ↑50.1% Q2 2021 Sales

$620,000

↑27.6%

$486,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

18

10

↓47.2%

Q2 2020 DOM

Q2 2021 DOM

% Change

70

47. 3 796

- 1 2 2 . 2 3 47

Kirkland– Your charming waterfront oasis with a lovely neighborhood feel

Home sales rose for the second quarter compared to 2020, while the median sales price continues to rise with more tech jobs moving to the Eastside. With a large jump in closings and popular community reputation, Kirkland’s home values will only continue to soar while moving quickly.

7 2

K I RKL AND I NS I GHTS Soaring home values and an ever evolving community.

POPULATION 89,557

MEDIAN INCOME $109,715

SCHOOL DISTRICT Lake Washington

Q2 2020 Sales % Change 362 634 ↑75.1% Q2 2021 Sales

$1,050,000

↑22.1%

$860,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

16

11

↓31.1%

Q2 2020 DOM

Q2 2021 DOM

% Change

74

47. 8 2 0 8 - 1 2 2 . 3 1 5 5

Lynnwood– Suburban hub with abundant community amenities

With the expansion of Seattle’s Light Rail system and transit center, Lynwood is quickly becoming a market much like its surrounding neighbors. Despite the effects of COVID-19, Lynnwood saw a dramatic decrease in Days on Market and a significant increase in the median sales price.

76

LYNNWOOD I NS I GHTS Continued positive market trends driving high buyer demand.

POPULATION 38,511

MEDIAN INCOME $59,416

SCHOOL DISTRICT Edmonds

Q2 2020 Sales % Change 312 459 ↑47.1% Q2 2021 Sales

$675,000

↑29.8%

$519,995

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

22

6

↓72.7%

Q2 2020 DOM

Q2 2021 DOM

% Change

7 8

47. 39 03 - 1 2 2 . 04 4 6

Maple Valley– Award-winning

With an increase of new construction in the area,

transactions increased slightly, driving median sales prices up in the second quarter. This has been a trend in Maple Valley year over year. Days on market decreased as inventory from new construction was quickly purchased.

suburban destination for growing families

8 0

MAP L E VAL L EY I NS I GHTS Growing sought after community with new construction on the rise.

POPULATION 27,114

MEDIAN INCOME $107,299

SCHOOL DISTRICT Tahoma

Q2 2020 Sales % Change 188 278 ↑47.9% Q2 2021 Sales

$722,095

↑25.6%

$575,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

36

8

↓77.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

8 2

47. 5704 - 1 2 2 . 2 1 98

Mercer Island– Islander life just outside the city

Mercer Island continued to persevere in the second quarter of 2021 compared to 2020, with a significant increase in sales. Home values continue to soar across waterfront and non-waterfront listings in the highly sought after community in Greater Seattle.

8 4

ME RCE R I S L AND I NS I GHTS Persevering market that shows strong promise to quickly grow in Q2.

POPULATION 25,976

MEDIAN INCOME $142,413

SCHOOL DISTRICT Mercer Island

81

126 ↑55.6%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,975,000

↑33.4%

$1,480,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

23

15

↑34.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

8 6

47. 67 3 4 - 1 2 2 . 1 2 0 2

Redmond– Connected through education, tech, and inclusivity

With tech startups continuing to pop up in Redmond and its convenient location near booming Bellevue tech, Redmond showed promising numbers despite the COVID-19 disruptions. Home prices remained stable while inventory went quickly, with a significant decrease in days on market.

8 8

R EDMOND I NS I GHTS Promising and proven market that continues remain strong.

POPULATION 67,678

MEDIAN INCOME $123,449

SCHOOL DISTRICT Lake Washington

Q2 2020 Sales % Change 265 460 ↑73.6% Q2 2021 Sales

$1,155,000

↑32.8%

$870,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

19

6

↓68.4%

Q2 2020 DOM

Q2 2021 DOM

% Change

9 0

47. 61 6 8 - 1 2 2 . 03 3 3

Sammamish– Thriving community fueled by connection, education and nature

Sammamish home prices continue to soar with new inventory coming to market. As pent-up demand for the area remains high, buyers are aggressive and abundant. A short commute to Bellevue and located near popular outdoor recreation, Sammamish continues to grow and thrive due to COVID-19 relocation conditions.

92

SAMMAM I SH I NS I GHTS Growing market with proven results that continues to remain strong and persevere.

POPULATION 65,733

MEDIAN INCOME $165,318

SCHOOL DISTRICT Lake Washington and Issaquah

Q2 2020 Sales % Change 257 428 ↑66.5% Q2 2021 Sales

$1,384,000

↑31.8%

$1,070,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

26

6

↓76.9%

Q2 2020 DOM

Q2 2021 DOM

% Change

94

47. 6 0 6 0 - 1 2 2 . 3 3 5 1

Seattle– Metropolitan oasis emerged in

With the growth of Amazon and other major tech companies in Seattle, sales prices remained stable. As more relocation buyers continue to find their home in Seattle, the city continues to have strong buyer demand and inventory continues to rise as Seattle re emerges from COVID-19.

the abundant Puget Sound

96

S EAT T L E I NS I GHTS Dramatic rise in transactions and stagnate home values.

POPULATION 744,955

MEDIAN INCOME $85,562

SCHOOL DISTRICT Seattle

Q2 2020 Sales % Change 2,537 4,290 ↑69.1% Q2 2021 Sales

$795,656

↑9.7%

$725,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

19

18

↓5.3%

Q2 2020 DOM

Q2 2021 DOM

% Change

9 8

Inter-Seattle Neighborhoods

The market trends show that the outlying Seattle neighborhoods have persevered through the unexpected. Home prices have stayed consistent from last year and primarily rose or slightly decreased. Though sales have bounced back from this time last year with current conditions, a healthy return to new sales is forecasted for the charming neighborhoods around Seattle.

1 0 0

Alki–The best of Seattle’s beachfront living

Even with the closing of the West Seattle Bridge, homes are still selling and sales prices are relatively stable as buyers continue their desire to call this tight knit beachfront community home.

22 60

↑172.7%

Q2 2020 Sales

Q2 2021 Sales

% Change

$836,000

↓2.8%

$859,999

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

19

36

↑89.5%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 0 2

Ballard–Trendy neighborhood with maritime history

The median sales price increased slightly in Ballard since last year, but demand remains high in this popular neighborhood, particularly in new construction condos and townhomes for first time home buyers.

151 258

↑70.9%

Q2 2020 Sales

Q2 2021 Sales

% Change

$810,000

↑9.5%

$739,950

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

12

17

↑41.7%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 0 4

Beacon Hill–A Seattle community with relaxed pace

With a significant decrease in days on market, sales prices have risen with a new development boom in this largely residential area, South of the city.

90 159

↑76.7%

Q2 2020 Sales

Q2 2021 Sales

% Change

$715,507

↑13.2%

$631,829

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

29

20

↓29.5%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 0 6

Capitol Hill– Vibrant with style all its own

Bustling with Seattle’s top rated restaurants, nightlightlife and boutique shopping, the Capitol Hill market has stayed robust with buyer demand for apartments and condos. Inventory remains low and prices are expected to continue to increase going into 2021.

103 240

↑133.0%

Q2 2020 Sales

Q2 2021 Sales

% Change

$763,958

↑9.0%

$701,142

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

21

26

↑26.3%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 0 8

Central Area– Residential with perks of city life

Prices have remained stable since last year, but time on market has dropped as buyers flock to Seattle’s oldest surviving residential area. With increased new construction inventory, highly-funded community improvement projects and an increased single-family home inventory, buyers are considering Central Area as an option.

39 62

↑59.0%

Q2 2020 Sales

Q2 2021 Sales

% Change

$732,500

↑3.2%

$710,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

21

12

↓42.9%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 1 0

Denny Triangle— Close to enough to walk to downtown

With an abundance of new high-rise condos last year and amenities, closed transactions are down in the Denny Triangle neighborhood. Home prices remain stable and units are moving slower due to lack of inventory from a year ago.

112 38

↓66.1%

Q2 2020 Sales

Q2 2021 Sales

% Change

$658,000

↓3.2%

$680,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

10

35

↑250.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 1 2

Downtown & Belltown—The heart of the city

In the heart of the hustle and bustle of downtown Seattle, closings saw a significant increase as the city bounces back from COVID-19. Median sales prices decreased slightly while it is still highly sought after real estate.

33 100

↑203.0%

Q2 2020 Sales

Q2 2021 Sales

% Change

$559,975

↓13.2%

$645,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

16

48

↑200.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 1 4

Eastlake & SLU— Surrounded by tech, connected to nature

In the heart of the hustle and bustle of downtown Seattle, closings saw a significant increase due to social justice factors and COVID-19. Median sales prices jumped slightly as it is still highly sought after real estate.

33 47

↑42.4%

Q2 2020 Sales

Q2 2021 Sales

% Change

$695,000

↑11.9%

$620,950

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

31

24

↓21.2%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 1 6

Fremont— Eccentric, sought- after neighborhood

While prices are up in 2021, Fremont remains an in-demand neighborhood with a variety of living options. The inventory does not last long in Fremont, with a significant drop in days on market for listings.

43 76

↑76.6%

Q2 2020 Sales

Q2 2021 Sales

% Change

$866,000

↑20.3%

$720,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

16

13

↓18.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 1 8

Laurelhurst—Luxury location with prime waterfront views

The average home price is up significantly in this upscale waterfront community, with an increase in inventory and even larger drop in a listing’s time on the market. Laurelhurst remains a highly demanded community in Seattle.

22 28

↓27.3%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,497,500

↑16.3%

$1,287,500

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

29

10

↓65.5%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 2 0

Green Lake & Greenwood— Relaxed, family-friendly neighborhoods

These coveted neighborhoods remained more affordable in comparison to other Seattle neighborhoods during this quarter, with home prices staying consistent and inventory being available.

138 245

↑77.5%

Q2 2020 Sales

Q2 2021 Sales

% Change

$773,688

↑3.7%

$745,875

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

13

9

↓32.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 2 2

Leschi—Seattle’s quintessential lakeside community

The median sales price in Leschi has risen slightly in the past year, with a variety of comfortable dwellings available from lakeside condos to charming bungalows.

21

31

↑47.6%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,038,065

↑11.6%

$930,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

37

11

↓70.3%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 24

Madison Park + Valley—Picturesque shores of Lake

A huge spike in inventory became available in the second quarter of 2021, driving a slight increase in the median sales price and slightly increasing days on market as Madison Valley continues to be a highly sought after community.

44 80

↑81.8%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,260,438

↑15.4%

$1,092,136

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

17

20

↑14.5%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 26

Madrona— An oasis of quiet and comfort

Sales have increased dramatically in this quiet neighborhood on the shore of Lake Washington, with a large reduction of the time new listings are on the market and increased median sales price.

26 54

↑107.7%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,132,500

↑19.1%

$1,132,500

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

27

11

↓59.3%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 2 8

Magnolia—Traquil neighborhood that enjoys solutiude

Featuring some of the most stunning real estate and scenery in Seattle, Magnolia remains an oasis in the city. Inventory and sales prices are up as buyers seek a quieter and slower pace of life.

109 167

↑53.2%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,075,000

↑5.9%

$1,015,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

23

13

↓43.5%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 3 0

Maple Leaf—A quaint and tight-knit community

Single-family bungalows and classic mid- century modern homes dominate this residential community. 2021 has brought stable inventory and higher sales prices, with time on market slightly increasing.

50 64

↑28.0%

Q2 2020 Sales

Q2 2021 Sales

% Change

$886,000

↑9.1%

$811,975

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

5

8

↑60.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 3 2

Normandy Park— Waterfront community with ample greenery

This waterfront community continues to be a popular choice for families and retirees desiring to live south of Seattle. Home prices have soared since last year, and average days on market have dropped significantly.

28 36

↑28.6%

Q2 2020 Sales

Q2 2021 Sales

% Change

$912,500

↑5.5%

$865,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

22

13

↓40.9%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 3 4

Phinney Ridge— Family-friendly on a perch over the city

Inventory has increased and moves rapidly as buyers seek a mix of urban and suburban in Phinney Ridge, particularly among young first time home buyers looking for extra space near the city.

35 58

↑66.7%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,030,000

↑13.3%

$909,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

11

14

↑27.3%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 3 6

Queen Anne— Picturesque with some of Seattle’s best views

As rated a top ten neighborhood in Seattle, its no surprise homebuyers continue to flock to the classic single-family homes in Queen Anne. With a slight increase in the median sales price, demand and sales is expected to continue through 2021.

126 260

↑106.3%

Q2 2020 Sales

Q2 2021 Sales

% Change

$950,000

↑12.1%

$847,500

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

21

24

↑14.3%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 3 8

Rainier Beach— A community with pride in its diversity

Sales are slightly down since last year for the primarily single-family homes of Rainier Beach. Prices have increased as well with a sharp decline in days on market, proving that this area provides excellent home value to interested buyers.

44 34

↓22.7%

Q2 2020 Sales

Q2 2021 Sales

% Change

$652,471

↑19.9%

$544,205

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

21

13

↓40.7%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 4 0

Shoreline—Classic and convenient suburban living

Prices are on the rise with lowered days on market as Shoreline continues to be a highly attractive community to live in, especially as Seattle’s cost of living and home prices continue to skyrocket.

77 119

↑54.5%

Q2 2020 Sales

Q2 2021 Sales

% Change

$784,605

↑31.8%

$595,519

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

18

14

↓21.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 4 2

Wallingford— Small-town vibes with big-city perks

Though average days on market has increased slightly, prices and sales have remained relatively steady in this laid-back neighborhood with popularparks, boutique shops and convenient proximity to Seattle.

48 90

↑87.5%

Q2 2020 Sales

Q2 2021 Sales

% Change

$900,000

↑4.7%

$860,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

25

28

↑12.0%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 4 4

West Seattle— Laid-back restaurants and city views

Likely due to buyer uncertainty based around the West Seattle Bridge, prices remain on the rise though days on market are lower. However, many people still consider West Seattle’s self-sufficient attitude is an attractive draw for the community.

76 124

↑63.2%

Q2 2020 Sales

Q2 2021 Sales

% Change

$639,312

↑13.5%

$563,401

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

23

19

↓17.7%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 4 6

47. 9 1 2 7 - 1 2 2 . 0 962

Snohomish– A close community amongst beaches, rolling hills and rich farmlands

The area continues to show strong market trends with its affordability and privacy. With a strong sense of community, Snohomish proves to be a sought after area in Greater Seattle as sales continues to rise with median sales pricing following suite.

1 4 8

SNOHOM I SH I NS I GHTS Stable market with high growth for buyer demand.

POPULATION 10,185

MEDIAN INCOME $66,209

SCHOOL DISTRICT Snohomish

312 391

↑25.3%

Q2 2020 Sales

Q2 2021 Sales

% Change

$637,400

↑24.1%

$637,400

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

36

8

↓77.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 5 0

47. 2 5 3 8 - 1 2 2 . 4 4 61

Tacoma– A vibrant and growing city on the banks of the Puget Sound

Tacoma proves to be a hotspot for seeking buyers with low inventory, drop in days on market and rising median home prices. The pent up buyer demand is expected to continue as Seattle dwellers seek highly amenitized surrounding cities with water views.

1 5 2

TACOMA I NS I GHTS Pent up buyer demand with homes moving quickly and multiple offer situations.

POPULATION 216,279

MEDIAN INCOME $58,617

SCHOOL DISTRICT Tahoma

Q2 2020 Sales % Change 1,060 1,461 ↑37.8% Q2 2021 Sales

$450,000

↑27.8%

$352,250

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

16

9

↓43.8%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 5 4

47. 75 4 2 - 1 2 2 . 1 61 9

Woodinville– Unique wine country community in arms- reach of the city

Homeowners are flocking to Woodinville as home sales continue to rise, with booming home values for the highly coveted neighborhoods that offer an abundant lifestyle and close community feel.

1 5 6

WOOD I NV I L L E I NS I GHTS Strength in stability and opportunity for an increase in buyer demand.

POPULATION 12,815

MEDIAN INCOME $100,306

SCHOOL DISTRICT Northshore

134 213

↑59.0%

Q2 2020 Sales

Q2 2021 Sales

% Change

$1,117,000

↑32.2%

$845,000

Q2 2020 Median Sales Price

Q2 2021 Median Sales Price

% Change

24

9

↓62.5%

Q2 2020 DOM

Q2 2021 DOM

% Change

1 5 8

Now that you’ve seen all the data and the projected forecast for 2021, what do you think? We know, it’s a lot to take in. But we’re here to help. Hopefully, this begins to answer some of the questions you’ve had and reassures you about the strength of the market in the PNW. We believe in the importance of home. Because where you call “Home” is more important than ever. And while the world around us doesn’t quite look the same - our job description looks just as it did before this season. It’s the job we signed up for, and in a time when jobs are precious, we take ours seriously. At Compass, our purpose is to help everyone find their place in the world. The place in this world we proudly call, “Home”

Final Word

1 6 0

B E L L E VU E • F R EMONT • I S SAQUAH • UN I VE R S I T Y V I L L AG E • MAD I SON PAR K • CAP I TOL H I L L • B E L L I NGHAM • WE S T S EAT T L E

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