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.

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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