Lake Oswego Real Estate November 2017 RMLS™ Market Update

November Residential Highlights

The Portland metro area saw new listings make gains this November compared to November
2016.

NEW LISTINGShttps://lakeoswegorealestateblog.wordpress.com/

There were 2,416 new listings offered, a 16.2% increase from the2,080 new listings offered last year in November 2016, but a 19.0% decrease compared to last month in October 2017 (2,981).

PENDING SALES

Pending sales (2,371) similarly increased 4.6% compared to November 2016, but fell 12.3% short of the 2,705 offers accepted last month in October 2017.

CLOSED SALES

Closed sales, at 2,387, fell 1.9% short of the 2,434 closings recorded in November 2016 and 6.9% short
of the 2,565 closings recorded in October 2017.

INVENTORY OF HOUSES FOR SALE

November saw inventory tighten slightly to 1.9 months, with total market time increasing to 51 days.

YEAR TO DATE SUMMARY

Year to Date Summary Activity has been cooler so far in 2017 compared to 2016.

NEW LISTINGS AND PENDING SALES

New listings (39,103) are down 1.2%, closed sales (29,098) are down 3.0%, and pending sales (29,628) are down 6.2%.

AVERAGE AND MEDIAN SALES PRICES

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through November, the average sale price rose 8.7% from $394,800 to $429,000. In the same comparison, the median sale price rose 9.5% from $347,000 to $379,900.

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.

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