Lake Oswego Real Estate This Week Stats as of Monday July 3, 2017

I have been trying to post the report for This Week Stats often because the information is much more current than even some of the RMLS™ information I post here.  Our RMLS™ Market Action Report is always one month behind the market, while This Week Stats reporting is weekly.

There are a few other key things to be aware of that makes this data a bit different than direct from our RMLS™.  It is focused on a 100% active market. Absorbed is commonly referred to as “Sold”. In this report “absorbed” refers to anything that differs from that 100% active state (i.e. pending, expired, removed). Things like DOM (days on the market), are active to “absorbed” (absorbed in the report’s terms). Also this report provides both a 90-day average (trend) and 7-day average that may differ from what a single source provides.

This Week Stats

On June 23, I posted This Week Stats and it showed  Lake Oswego’s Median List Price was $985,000.  This week, the median list price dropped to $897,000.

Also, in that June 23 report, it showed that 36% of properties had a price reduction that week; whereas, this week it shows 37% of listings had reduced their price.

The report this week also shows that days on the market dropped – good for sellers. This week listings were on the market 91 days before they sold (closed) and my last report it took 97 days for a home to sell in Lake Oswego.

https://lakeoswegorealestateblog.wordpress.com/ https://lakeoswegorealestateblog.wordpress.com/ https://lakeoswegorealestateblog.wordpress.com/

How’s The Lake Oswego Real Estate Market?

In this report “How’s the market?” is measured by  the current rate of sale verses the amount of inventory. With 30 being the base, neither buyers market nor sellers market, when the index goes above 30 it implies a sellers market.  Below 30, conditions favor the buyer. It’s supply and demand using a variety of statistics including # of new listings and # of absorbed listings.

However, my June 23 post shows that the index was at 35.3 in June and this week it is 34.6 which means it is slowly trending downwards towards either a balanced market or if it continues to drop below the 30 market, it will be leaning towards a buyer’s market.

Lake Oswego Real Estate Market

I had also reported that as a result of conversations in many of my real estate Facebook groups, agents have been noting a slow down in the market.  I had also stated that I didn’t know if this was just a summer blip or the beginning of a downward trend.  Again, it is way too early to determine whether it is an ongoing trend of just a short-time slowdown.  As the summer continues, I will be watching that and reporting on it here.

Source: Altos Research and Ticor Title

Your Neighborhood – Your Street

If you want to know the value of your home, comparables and value are determined by what is sold in your neighborhood and more specifically, on your street.  Want that information, give me a call.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing 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.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I 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 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Advertisements