Lake Oswego Real Estate RMLS™ Market Action Report January 2017

The latest stats for our Portland metro real estate markets have just been published by RMLS.™  Portland saw 4 snow events (2 in December and 2 in January), and weather significantly affects our real estate market. In addition, with little to no houses to sell and many appraisals, closings etc. were delayed because of all our snow, these stats show the impact our weather issues had on the most recent stats.

January Residential Highlights

New Listingshttps://lakeoswegorealestateblog.wordpress.com/

The Portland metro area started the year with a little mixed activity this January. New listings (2,212) rose 55.7% from December (1,421) but fell 12.2% short of the 2,519 new listings offered last year in January 2016.

Pending Sales

Similarly, pending sales (1,990) ended 13.3% stronger than last month in December (1,757) but were 11.3% cooler than last January (2,243).

Closed Sales

https://lakeoswegorealestateblog.wordpress.com/Closed sales, at 1,847, fell just 0.6% short of the 1,859 closings recorded last year in January 2016 but ended 29.5% below the 2,621 closings recorded last month in December 2016.

Total Days On The Market

Total market time increased by nine days in January, ending at 58 days. During the same period, inventory rose slightly to 1.7 months. There were 3,214 active residential listings in the Portland metro area in January.

Average and Median Sale Prices

Comparing the average price of homes sold in the twelve months ending January 31st of this year ($398,400) with the average price of homes in the twelve months ending January 2016 ($355,600) shows an increase of 12.0%. In the same comparison, the median has increased 12.9% from $309,900 to $350,000.

Average Selling Price % Change Year-to-Date

The Lake Oswego/West Linn real estate market has seen a 16.2% increase (year-to-date) for the average sale price.

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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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