Lake Oswego Real Estate Million Dollar Condoshttps://lakeoswegorealestateblog.wordpress.com/LakeOswegoRealEstateMillionDollarCondos

Portland’s million-dollar condominium market is on the rise.

Last year, 48 condos sold for $1 million or more in our Portland real estate market, up from 26 luxury $1 million condos in 2009. Seven-digit prices are being driven by cash buyers and a lack of inventory. Portland’s luxury condo market started in the Pearl District but has quickly expanded to other areas of the city, according to a recent TV news story.

Lake Oswego Real Estate Condos Over $1 Million

Inasmuch as the Portland real estate market condo sales have been brisk, I thought I would look at what is happening here in our local Lake Oswego real estate market.

2014 vs 2015 Million Dollar Condos In Lake Oswego

The Lake Oswego condo market for over $1 million has not been as robust as in Portland in regards to the number of properties listed and sold.  However, due to its close proximity to Portland, I would expect more properties will be listed and sold in Lake Oswego as we head into the busy Spring real estate season.

There was only one condo sold in Lake Oswego over $1 million in 2014 in zip code 97034.The stats of that sale are:

Stats for 2014:

  • 1 sold over $1 million in 2014
  • sold at 92.31% of the original list price
  • Sales Price $1,800,000.
  • 5722 sq. ft.
  • 3 bedrooms, 3.5 baths
  • 63 Days on the Market
  • $312 average sold sq. ft. cost

Stats for 2015

  • 3 sold over $1 million in 2015
  • sold at 88.96% of original list price
  • Sales Price Average $1,230,000.
  • 3055 sq. ft.
  • 83 Days on the Market
  • $403 average sq. ft. cost

Stats for 2016 As Of This Date

There are currently two active condos for sale with an average list price of $1,579,596 and one Lake Oswego condo pending in zip code 97034.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your condo or home. If you want to know the value of your property in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of federal copyright laws.

 

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