Inasmuch as I was snowed in for what seems like forever (as were others), I did not post the latest RMLS™ Market Action Report for December 2016 sooner.

Lake Oswego Real Estate RMLS™ Market Action Report December 2016

In a recent news story, Portland ranked #8 as one of the Top 10 Cities with the lowest number of houses for sale.  That remained true all the way through to the end of last year.  It is still a seller’s market here in Portland. I don’t think that will change significantly until perhaps the end of 2017.  We have a very long way to fill up the coffers of our local housing inventory.

The 3-4 snow events we had in December through January, will affect our market statistics for January 2017.  There was a slow-down but not a standstill. It will be interesting to see what those January stats will be around the middle of February, when those will be posted.

In addition, as we go through the next couple of months, I plan on breaking down stats for our local areas and will post those here.

December Residential Highlights

The Portland metro area ended the year with cooler activity on the whole.

Closed Sales

Closed sales (2,621) ended 3.3% under the 2,710 closings posted last year in December 2015 despite a 7.7% increase compared to the 2,434 closings recorded last month in November 2016.

New Listings

New listings, at 1,421, fell 7.6% short of the 1,538 new listings offered last year in December 2015 and 31.7% under the 2,080 new listings offered last month in November 2016.

Pending Sales

Pending sales (1,757) decreased 9.2% from December 2015, when 1,936 offers were accepted; and 22.5% from November 2016, when 2,266 offers were accepted.

Housing Inventoryhttps://lakeoswegorealestateblog.wordpress.com

Inventory decreased slightly in December, landing at 1.3 months. During the same time, total market time increased by four days, ending at 49 days. There were 3,511 active residential listings in the region in December.

Year to Date Summary

Activity was cooler in 2016 than in 2015. Comparing all of 2016 to 2015, new listings (41,121) increased 0.7. Closed sales (32,798) decreased 1.5% and pending sales (33,234) decreased 3.9%.

Average and Median Sale Prices

https://lakeoswegorealestateblog.wordpress.comComparing 2016 to 2015 through December, the average sale price rose 11.4% from $354,500 to $395,000. In the same comparison, the median sale price rose 12.7% from $308,000 to $347,000.

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.

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 2008-2018. 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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