You are currently browsing the category archive for the ‘Lake Oswego Real Estate Stats’ category.

Our most recent market action report was issued yesterday.

January 2018 RMLS™ Market Action Report

January Residential Highlights

The Portland metro area saw plenty of pending sales and new listings this January.

Pending Sales

Pending sales at 2,311, outpaced January 2017 (1,990) by 16.1% and December 2017 (1,757) by 31.5%. It was the strongest January for pending listings in the metro area since 2007, when 2,544 offers were accepted in January.

New Listingshttp://bettyjung.com

New listings, at 2,486, outpaced January 2017 (2,212) by 12.4% and December 2017 (1,617) by 53.7%. I am not surprised that there was an uptick of listings in December and January.

Weather plays a big part in our real estate activity here in our area.  December saw only a dash of snow Christmas eve, compared to none in January.

Closed Sales

Closed sales, at 1,628, cooled 11.9% from the 1,847 closings recorded last year in January 2017 and 30.7% from the 2,350 closings recorded last month in December 2017.

Inventory

Inventory rose a bit in January, ending at 2.2 months. During the same period, total market time increased by five days to end at 60 days. There were 3,518 active residential listings in the Portland metro area in January.

Average and Median Sale Priceshttp://bettyjung.com

Comparing the average price of homes sold in the twelve months ending January 31st of this year ($430,100) with the average price of homes in the twelve months ending January 2017 ($399,600) shows an increase of 7.6%. In the same comparison, the median has increased 8.6% from $350,000 to $380,000.

Lake Oswego Real Estate Inventory

Here in Lake Oswego, we have a 3 month supply of houses for sale, up from 2.9  months in December.

Summary

http://bettyjung.com

Courtesy Mike Popnoe, Mortgage Trust

Prices continue to increase and we are still in a seller’s market. Although interest increases have started, I won’t know until next month how that impacted our February 2018 real estate activity.

I am seeing more and more houses come on the market for sale, while not as much activity in the pending or sold categories.  But we are heading into prime selling season, and I know many sellers are getting their homes ready for sale, and with interest rates increasing, buyers are also ready to act.http://bettyjung.com

 Interest Rates as of February 14, 2018

http://bettyjung.com

Courtesy Mike Popnoe, Mortgage Trust

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.

Advertisements

Here is the latest report from Altos Research Inc. for stats in Lake Oswego zip code 97035.

Are you interested in seeing the stats for your zip code?  Email me and I will be happy to provide you with your area/neighborhood stats.

This Week Stats 97035

Summary:

Still a seller’s market in zip code 97035.  However, total market time has increased. Prices also continue to increase due to the limited number of houses for sale.  The median price in Lake Oswego this week is $750,000 but low inventory is still a problem/issue in the Lake Oswego Real Estate market.

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 and there is 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 a violation of Federal copyright laws.

With prices increasing at a steady pace in 2017 in the Lake Oswego real estate zip codes 97034 and 97035, the following are the stats for condos, townhouses, and attached dwellings for 2016 vs 2017.

Condos are becoming more and more popular once again as affordability is at a low if you want to live in Lake Oswego. I suspect the desire to purchase a condo will continue.https://lakeoswegorealestateblog.wordpress.com/

Lake Oswego Real Estate Condos Townhouses Attached Stats 2016 vs 2017

2016 Condo Stats Zip Code 97034

2017 Condo Stats Zip Code 97034

2016 Condo Stats Zip Code 97035

2017 Condo Stats Zip Code 97035

Summary

In zip code 97034, more condos were sold in 2017 but the days on the market increased as did the sales price.  Zip code 97035, however saw a stronger condo market in 2016 with more condos selling, however, they were on the market a shorter period of time but the average sales price increased as well.

As I always say, if you cannot afford the price of a single-family home in Lake Oswego, and you wish to buy, a condo may be the right purchase for you.

Condos For Sale Now

There are currently only a few condos, townhouses, attached dwellings currently for sale.  You can view them here (# of views are limited)

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates slowly increasing but there is 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!

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Our RMLS™ Market Action Report was issued recently and you can view my post here.

Have you ever wondered what the median price of homes would be in each of the Portland Metro Real Estate https://lakeoswegorealestateblog.wordpress.com/markets?

Lake Oswego Real Estate 2017 Median Home Prices

Here are the final median prices for all the Portland real estate metro areas as we ended 2017:

  • NW Washington County/Sauvie Island – $502,500
  • Hillsboro/Forest Grove – $352,500
  • Yamhill County – $307,800
  • Beaverton/Aloha – $354,500
  • Tigard/Tualatin/Sherwood – $412,000
  • Lake Oswego – $597,500
  • Oregon City/Canby/Molalla/Beavercreek – $375,000
  • Milwaukie/Gladstone/Boring/Clackamas/Estacada – 385,000
  • SE Portland – $350,000
  • West Portland – $499,000
  • Gresham/Troutdale/Sandy/Corbett/Fairview – $322,000
  • Mt. Hood/ZigZag/Welches/Brightwood/Government Camp – $239,300
  • NE Portland – $379,000
  • North Portland – $390,500

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is 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 a violation of Federal copyright laws.

December Residential Highlights

The Portland metro area saw mixed numbers this December, but new listings made gains compared to December 2016.

New Listingshttps://lakeoswegorealestateblog.wordpress.com/

At 1,617, new listings showed a 13.8% increase compared to December 2016, despite a 33.1% decrease from last month in November 2017 (2,416). This was the strongest December for new listings in the Portland metro area since 2011, when 1,700 new listings were offered. We are, however, at all time record lows for the number of houses for sale.

Pending Sales

Pending sales (1,757) exactly matched the 1,757 offers accepted last year in December 2016 but showed a 25.9% cooling from the 2,371 offers that were accepted last month in November 2017.

Closed sales, at 2,350, ended with a 10.3% decrease from December 2016 (2,621) and fell 1.6%

Year to Date Summary

Activity in 2017 was a little cool compared to 2016. New listings (40,805) decreased 0.8%, closed sales (31,624) decreased 3.6%, and pending sales (31,330) decreased 5.7%.

Average and Median Sale Priceshttps://lakeoswegorealestateblog.wordpress.com/

Prices continued to rise in the Portland metro area in 2017. Comparing the entirety of 2017 to 2016, the average sale price rose 8.5% from $395,000 to $428,700. In the same comparison, the median sale price rose 9.5% from $347,000 to $379,900.

 YEAR-END INVENTORY

https://lakeoswegorealestateblog.wordpress.com/How did the Portland real estate market fare in 2017? The Business Journal just issued their 2017 rating the top 25 real estate markets in the Portland metro real estate market.  You can view how each Portland metro real estate area ranked here.

Lake Oswego real estate ended 2017 with 2.9 months of inventory.  Although higher than the 1.9 months of inventory Portland saw at year’s end, Lake Oswego inventory had been higher in previous months.

SUMMARY

The latest economic forecasts for 2018 are pouring in from everywhere.  Some hint at a possible recession or bubble.  While they, nor I have a crystal ball, real estate is local, even street by street.  What happens back East or anywhere else, may not happen here in the Pacific Northwest.

The one recurring theme, however, is that there will be a slow down.  Some look at that as a bad thing, whereas in our Portland real estate market, it is not necessarily so.  The wild and frenzy real estate market we have had the past several years, is now slowing down, and for many reasons.  That real estate frenzy was not sustainable and real estate always has its ups and downs. With a lack of inventory, prices will continue to increase.  Some areas are “hotter” than others.

I personally feel there will be no bubble.  As to a recession, again I have no crystal ball.  We are edging ever-so slowly to a more normal market, which is good. However, in the 39 years I have been selling real estate, one thing I know for sure, is that people always, no matter the interest rate, purchase homes.

Unlike during the “hot housing market” up until 2007, which was fueled by crazy mortgages and home loans, the current market will slow and will depend on interest rates and supply and demand.

There is still a back log of buyers and sellers now is the time to sell.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is 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 a violation of Federal copyright laws.

Yesterday I was asked by a client for the price appreciation in different areas of our Portland metro real estate market.  While I post that information here and in my Jung’s Journal (real estate newsletter), I thought I would update this blog with the latest stats available.  Again, year-end and December stats will not be published by RMLS™ until mid-January.

PRICE APPRECIATION PORTLAND METRO AREAS

As of our November RMLS™ stats, here is each area of our Portland real estate market with the year-to-date price appreciation rates:

  • North Portland – 5.8%
  • Northeast Portland – 8.3%
  • Southeast Portland – 8.3%
  • Gresham/Troutdale – 11.1%
  • Milwaukie/Clackamas – 9%
  • Oregon City/Canby – 7.7%
  • Lake Oswego/West Linn – 9.4%
  • West Portland – 4.3%
  • NW Washington County – 8.4%
  • Beaverton/Aloha – 9.6%
  • Tigard/Wilsonville – 6.9%
  • Hillsboro/Forest Grove – 11.4%
  • Mt. Hood – 18.6%
  • Columbia County – 12.7%
  • Yamhill County – 13.1%

Price Appreciation

Your street or your neighborhood may have different appreciation rates. These percentages are based on a lot of mostly general factors and may be different than what is pertinent for your home.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is 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 a violation of Federal copyright laws.

Quite a while ago I heard a speaker say it is always either a real estate market that favors sellers or a real estate market that favors buyers and there is no such thing as a “normal” real estate market. Markets either go up or down and rarely are there any balanced real estate markets (favoring both buyers and sellers).Copyright Betty Jung

Lake Oswego Real Estate Market

I have to agree somewhat as in the many years I have been selling Lake Oswego real estate now, each real estate market has been different.  And, there have only been a few times when I have seen where we have had a balanced real estate market.

What Is A Normal Lake Oswego Real Estate Market?

Can we say that the years during the height of the real estate boom we had a “normal” market?  Can we say that during the “great recession” that it was a normal real estate market”?  I don’t think so.

We sometimes say that a Lake Oswego real estate market is “balanced” when it has between 5-6 months (or under 7 months) of inventory, favoring both buyers and sellers. But most times, that balanced market is very short lived, because our Lake Oswego real estate market quickly turns toward favoring either only the buyers or only the sellers again.

A Look At Past Lake Oswego Real Estate Markets

What we do know is:

  • November 2017 — Lake Oswego had 3.4 months of inventory (compared to Portland which had 1.9) favoring sellers.
  • November 2010 — Lake Oswego had 12.9 months of inventory (compared to Portland which had 10.2) favoring buyers.
  • November 2007 — Lake Oswego had 8.7 months of inventory (compared to Portland which had 8.3) favoring buyers.
  • November 2000 – Lake Oswego had 8.6 months of inventory (compared to Portland which had 8.9) favoring buyers.

Lake Oswego sellers have been in their “happy place” for quite a while, but as inventory of houses increases, there will once again be a shift. However, we are still in a seller’s real estate market.

Will that happen in 2018? I personally think it will take all, if not most, of 2018 to get to where our Lake Oswego real estate will once again favor buyers, if at all.  But if you have been following this blog, you have seen that it is slowly, very slowly, creeping towards that direction.

We don’t have the year-end stats yet and how December looked in 2017.  Those RMLS™ stats will be published mid-January and I will post the information here.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is 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 a violation of Federal copyright laws.

Lake Oswego Real Estate This Week Stats Part 2

As promised yesterday, I am posting This Week Stats Part 2 for Lake Oswego zip code 97034.

Zip code 97034 real estate, represents the higher price range in our Lake Oswego real estate market.  Houses in this zip are almost twice as much as the houses in 97035 and easily command a jumbo loan ti purchase your dream him in 97034,

Days on the market are longer and increasing, again most likely a seasonal stat.  I have heard it said if the high-end price range is selling, then all the prices are selling.  Likewise, if the high-end sits and doesn’t sell, the lower prices will also sit and not sell.  At the start of 2018, I will post all stats to see how all the price ranges fared in 2017.

Prices have leveled a bit in this zip code, but again we are still in a seller’s market and as soon as the holidays are over, even though there will be more inventory coming up for sale, prices will once again increase due to our inventory of houses to sell.

Last month in Lake Oswego, 48 new properties went on the market with a median price of $676,950.

There are currently 206 properties available in Lake Oswego with a median price of $844,450. These properties have been on the market for an average of 110 days.

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

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.

Lake Oswego Real Estate This Week Stats Part 1

This week the stats are broken down by zip code. The source of these stats, Altos Research, has revised their reporting method. Therefore, the zip code for 97035 (north of Oswego Lake) are posted today, and I will post 97034 (south of Oswego Lake) tomorrow.

This is still a seller’s market with inventory leveling off for this time period, which is not unusual this time of year,  However, 49% of houses for sale in 97035, did have a price adjustment.  Also, days on the market for this zip is relatively higher taking 108 days on the market before selling. Prices continue to increase due to the shortage of inventory here locally.

As soon as the holidays are behind us, and we have nicer weather, real estate trends I believe will continue an uptick.

Lake Oswego Zip Code 97035



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 and sell your home in 2018.

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.

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.

Advertisements

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

MORE Realty, Inc.
14945 SW Sequoia Parkway, #150
Portland, OR. 97224

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

Follow ALL ABOUT…..Lake Oswego Real Estate on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 3,936 other followers

Recent Comments

Archives

Visitors

  • 7,066 hits

Betty’s Copyright

(c) Betty Jung 2008-2018.

All photos and content are copyright protected and may not be reproduced in any form.

DMCA Copyright Logo

© ALL ABOUT.....Lake Oswego Real Estate.

All Rights Reserved.