Lake Oswego Real Estate August 2017 RMLS™ Market Update

I knew as soon as I posted the July report, the August report would follow shortly thereafter. The latest report was just issued.

AUGUST 2017 RMLS™ Market Update

August Residential Highlights

August brought mixed activity to the Portland metro area, but closed sales saw some modest gains. At 3,034, closings rose 1.1% compared to last year in August 2016 (3,001) and 8.6% compared to last month in July 2017 (2,793).

Pending Sales

Pending sales, at 3,072 for the month, edged 1.1% over July 2017 when 3,040 offers were accepted but fell 7.6% short of the 3,325 offers accepted last year in August 2016.

New Listings

New listings, at 4,048, ended 3.7% under both July 2017 when 4,202 new listings were offered, and August 2016 when 4,203 new listings were offered for the month.

Inventory of Houses For Sale and Days On The Market

Inventory decreased to 2.0 months in August. During the same period total market time increased by one day, ending at 34 days. There were 5,940 active residential listings in the Portland metro area in August.

Year To Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (29,852) are down 2.6%, closed sales (20,990) are down 2.7%, and pending sales (22,296) are down 7.6%. You can see overall, that the real estate market in Portland is not as “hot” as it was last year.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through August, the average sale price rose 9.3% from $392,600 to $429,000. In the same comparison, the median sale price rose 10.7% from $343,200 to $379,900.

Lake Oswego Real Estate August Stats

Inventory of houses for sale in Lake Oswego is now close to 3 months.  It is still a seller’s market in Lake Oswego, but if it gets to 5-6 months of inventory, we will see a shift.  Lake Oswego prices increased 8.6% compared to Portland prices that rose 9.3% within the last 12 months.



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.