Lake Oswego Real Estate August 2016 RMLS Market Action Report

It is that time again to report on the last RMLS™ Market Action Report.  It seems to me the months are passing by quicker and we are getting way too close to the holidays already! And, as we get towards the last quarter of 2016, most likely you will see our real estate market change.  There will be a push from buyers to get their homes closed before the end of the year, and sellers (some) will take their houses off the market so that they too can enjoy the holidays without interruption.

Appraisal times are still holding up closings, and in particular, VA buyers.  Right now, today, would be the perfect time to buy in order to be assured a move-in date before Christmas because of those appraisal delays.

RMLS™ MARKET ACTION REPORT AUGUST 2016

August Residential Highlights

August brought more mixed real estate numbers to the Portland metro area.

New listings

At 4,203, fared 8.3% better than in August 2015 (3,880) but fell 3.9% shy of the 4,372 new listings offered last month in July 2016.

Closed Sales

Closed sales, at 3,001, fell 3.1% short of the 3,098 closings recorded last year in August 2015 but ended 8.1% higher compared to the 2,776 closings posted last month in July 2016.

Pending sales

At 3,325, fell 0.7% short of the 3,347 offers accepted last year in August 2015 but pushed 0.7% over the 3,302 offers accepted last month in July 2016.https://lakeoswegorealestateblog.wordpress.com/

Inventory of Houses For Sale Portland Metro Areas

Portland metro inventory remained steady in August at 1.9 months, and total market time increased by two days to land at 34 days. There were 5,645 active residential listings in the Portland metro area in August.

Year to Date Summary

Activity has been mixed in 2016 compared to 2015. New listings (30,646) are up 1.1%. Closed sales (21,573) are down 2.1% and pending sales (24,120) are down 2.7% for the year thus far.

Average and Median Sale Priceshttps://lakeoswegorealestateblog.wordpress.com/

Prices continue to rise in the Portland metro area. Comparing 2016 to 2015 through August, the average sale price rose 11.2% from $353,200 to $392,600. In the same comparison, the median sale price rose 12.5% from $305,000 to $343,200.

 

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 but are increasing, and there is still 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.

Thinking of Selling Your Lake Oswego Home?

Prices have slowed since July in Lake Oswego and you may want to know the value of your home in today’s Lake Oswego real estate market. Interest rates are still low and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

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. 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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