Lake Oswego Real Estate This Week Stats

It has been an interesting Lake Oswego Real Estate market since the beginning of May. Right before Mother’s Day we saw a significant pause in activity locally.  While I felt the slow down, I was reassured by other agents’ daily Facebook postings in real estate groups I belong to, that they were seeing it as well.

At first we all felt it was due to buyers being pre-occupied with proms, graduations, weddings, vacations and holidays.  However, while it is still “hot” in many of our local real estate markets, that is not true in all of our real estate markets or in all price points.

Recently there was an interesting article, although it discusses national real estate trends, could it be the beginning of what we are seeing here in Lake Oswego and Portland metro real estate markets as well?

If the house is too expensive for the region’s demand, it won’t sell. That is becoming the case in more and more neighborhoods this spring — and is likely behind the first sign that big price gains are starting to shrink.”

“Nationally, home prices are reacting to the severe lack of homes for sale, especially on the low end of the market. Demand is heavy, but there is a limit that is slowly being reached in certain markets and even certain neighborhoods.”

Lake Oswego Real Estate This Week Stats

The last “This Week Stats” post I wrote was April 14.  As of June 5, 2017 the median list price for a house in Lake Oswego did increase to $999,000 from $993,000.  However, in April, 30% of all houses listed saw a decrease in their asking price vs. June 5,  37% of all listed houses reduced their asking prices.

Houses in Lake Oswego are still selling quickly and it is also still a sellers’ real estate market with low inventory.  However, when RMLS™ issues the latest stats mid-June for the month of May, it will be interesting to see whether this is the start of our Lake Oswego real estate market following the national trend of prices cooling.

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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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