Lake Oswego Real Estate Price Increases By Area YTD

You have been hearing how high prices are escalating and which areas are the “hottest” real estate markets in Portland.  Yet, do you know how much each area really has increased in price within the last 12 months?

It has been reported that the close-in areas are “hot”.  They have been, but there are some other Portland metro real estate markets that are not only hot, but on fire.  Can you guess which ones??

Price Increases By Area YTD

Here is a list from our lasted RMLS™ Market Action Report (March 2016) showing how much the average selling prices have changed by area:

Average Sale Price Percent Change within the last 12 months (April 1, 2015-March 31, 2016 vs. April 1, 2014 to March 31, 2015):

  • North Portland increased by 15.4%
  • Oregon City/Canby increased by 12.2%
  • Tigard/Wilsonville increased by 11%
  • Gresham/Troutdale increased by 9.7%
  • Hillsboro/Forest Grove increased by 9.6%
  • Milwaukie/Clackamas increased by 9%
  • SE Portland increased by 9%
  • NE Portland increased by 8.7%
  • West Portland increased by 8.7%
  • Beaverton/Aloha increased by 8.6%
  • Yamhill County increased by 8%
  • Lake Oswego/West Linn increased by 5.7%
  • Columbia County increased by 5.7%
  • NW Washington County increased by 5.6%
  • Hillsboro/Forest Grove increased by 5.1%

We are still definitely in a sellers’ real estate market.  Our housing inventory dropped from 1.8 months last month to 1.3 months in March 2016 (our latest stats).Inventory_in_Months

Bidding wars are continuing and many buyers are being priced not only out of the Portland/Lake Oswego real estate market, but out of their desired locations to purchase.

However, interest rates are at an all time low and unemployment numbers are dropping.  If you have read any of the media reports you know Portland is considered the hottest real estate market across the U.S. and has had the highest acceleration of prices.

We have consistently ranked as the #1 moving location. People want and are moving to Portland. With such low inventory, there is little to no housing for them to move to.

Overall, the average sale price % change in the previous 12 months has been an increase of 8% ($361,100 vs. $334,400)

 

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 home. If you want to know the value of your home 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 a violation of Federal copyright laws.

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