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There has been a lot of discussion in the real estate community about a slow-down in our marketplace.

The other day I posted our latest RMLS™ stats for May. Those stats are obviously 30 days behind the current data. The stats I am posting below are from Altos Research and are the most recent stats as of today. There will be a future blog post about our 97034 Lake Oswego zip code too.

In July, when the June RMLS™ stats are posted, I will write a blog post on what the appreciation rate has been for the past 6 months, as I have been following that data for the year.

This Week Stats Zip 97035

Per the stats above, prices in zip code 97035 – Lake Oswego, have increased by 4% but the increase has been cooling. Inventory continues to increase too. While it is still a sellers’ market, that too is slowing. If the inventory in zip code 97035 continues to increase, it will slowly edge towards a buyers’ market, albeit, we are still a long ways off.

Typically, the month of June is not always a busy month here in real estate.  That is mainly because of graduations, weddings, and people starting their vacations.  I am not an economist, and cannot read the data beyond what is presented at the time.  None of us know for sure if this a definite slow-down or if it will be a continuing trend, or if it is only a seasonal blip.

Looking back is far easier to see what the trend has been. Looking forward is far more difficult.  Again, no one has a crystal ball and none of the economists seem to ever get it correct either.

Courtesy: Altos Research and First American Title Insurance Company

Short Sales & Foreclosures

While this most certainly is not on our radar, I have seen several short sales and approximately 5-8 Lake Oswego foreclosures lately.  This, at this point in time really doesn’t mean a lot in its entirety, but I am also watching those properties.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

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.

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.

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The big question in Lake Oswego is what is affordable?  Condos/Townhouses/Attached dwellings are “hot” and in demand.  While still a low inventory available to purchase, those that are on the market, are selling quickly.

Many homeowners are now seeing a good amount of equity, even if they have purchased recently within the last several years. Once again, condos are quickly becoming the most affordable purchase in Lake Oswego.

This Week Condo Stats Zip Code 97035

Summary

The median price of condos in zip code 97035 is $267,450 and prices are increasing and this report shows there is a strong upward trend.

Most of these condos in the 97035 zip code in the Lake Oswego Real Estate market are centrally located, near shopping, freeways, schools and parks, making condos in 97035 extremely desirable.

There are currently 28 condos/townhouses/attached properties for sale in Lake Oswgeo 97035. You can view them here goo.gl/djWC2i .

Interested in taking a look at any of these for sale?  Give me a call at 503-804-9685.

Source:  First American Title Company & Altos Research

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.

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.

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.

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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.

 

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



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.

 

If you have been following my blog, you know that I consider This Week Stats to be the most up-to-the minute information available.

Lake Oswego Real Estate Stats

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Lake Oswego Real Estate This Week Stats

This Week’s Stats did not change dramatically from the stats I posted 9/11/2017.  The median price in Lake Oswego remained the same as it was $899,000 and 54% of listed properties had a price reduction, again the same as 9/11.

What has changed slightly is the advantage favoring sellers has decreased slightly from 32.4 to 32.1. Further, 3/4 of all properties in Lake Oswego real estate market are still above a jumbo loan of over $600,000.  Only 1/4 of all Lake Oswego homes are priced under $600,000 and those usually have multiple offers.

It is typical as we head towards the Fall and Winter months to see some slowing, but does pick up again as we head closer to the holiday season.  Many buyers want to be in their new homes prior to the holidays.  It is still a seller’s market with low housing inventory. However, there is a shift happening.

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Lake Oswego Real Estate Market

What all these stats show is it is still important, no matter how hot the real estate market is, it is important to price your home correctly at the start.  Buyers looking at these stats may assume that sellers are more motivated than they were during the Summer months.

Some sellers are accepting contingency offers and, just recently, I saw several listings where sellers are back to paying buyer closing costs to help sell their homes.

 

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.

Lake Oswego Real Estate This Week Stats 9/11/2017

It has been a little over a month since I have posted This Week stats.  As indicated in other posts, these Altos Research stats are probably the most current.  Our RMLS™ is always reporting on the previous month and the Case-Schiller Report has stats for the previous 3 months.

This Week Stats as of September 11, 2017

This week the Lake Oswego real estate market saw an increase in the median list price.  The last report I posted in August showed the median list price at $849,000 vs. this week the median list price is $899,000.  Granted this is list price and not sales price. In August 52% of all the listings had a price reduction and this week it shows that 54% of all the listings this week had a reduced price. The selling price is the most important rather than the list or asking price.

Days on the market has also increased from 101 days on the market in August increasing to 108 days on the market in this week’s report. It also shows that a seller’s advantage is decreasing.

Seller’s Market But Inventory Increasing

Listing inventory is also increasing in the Lake Oswego real estate market.  In July, Lake Oswego housing inventory was at 2.9 months.  August saw 3 months of inventory.  While not a significant increase, inventory (number of houses for sale) is increasing.  It is still a seller’s market but if we continue to edge towards 5-6 months of Lake Oswego housing inventory, it will become what is called a  “normal or average” real estate market.

As a refresher, an average market is 5-6 months favoring both buyers and sellers (or under 7 months of inventory), below 5 months is considered a seller’s market (obviously benefitting the sellers)  and from 7-10+ is considered a buyer’s market (again benefitting buyers).

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Shift In Lake Oswego Real Estate

The Fall seasion is fast approaching.  Showings of houses has increased this past week and there is usually a rush to get into a new home before the holidays.  While it was a slow Summer and we saw some significant changes in our local real estate market, hopefully, this Fall will show increases in the number of houses that have sold.

Our RMLS™ August stats should be out within the next day or so.

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.

Lake Oswego Real Estate This Week Stats

I have been reporting since the beginning of May that I had noticed a slow down and a decrease in prices in Lake Oswego, although our RMLS™ had not reported that as of yet.  Our RMLS™ stats are one month behind, and it is still not reporting a slow-down in pricing.  However, the July report will be out in the next few days and I will post that information here.

What the  RMLS™ has been reporting, however, is a slow-down in lockboxes being opened – i.e. a decrease in showings each week.  My Facebook Real Estate Group real estate brokers are also still noting the slow-down. Once the RMLS™ stats are published, I will look at the stats closer to see if I can notice a trend or not.

Lake Oswego This Week Stats

If you check back in my “This Week Stats” blog posts you will see I had noted that 34%, then 37%, then 41% of properties each week had reduced their asking prices.

This week you can see that has now jumped to 52%.  In other words, 52% of the listings currently on the market for sale reduced their list prices.

You can also see that the median list price has dropped below $850,000 and now stands at $849,000. Three quarters of all listings are still in the jumbo loan category – above $600,000 (asking prices above $750,000 now for sale).  Only 1/4 of all listings in Lake Oswego are under $550,000.  Affordability still high in Lake Oswego.

In addition, This Week’s Stats show that the seller’s advantage has been dropping.  In other words, it is slowly falling to either a “normal” market range or edging ever so slowly towards a buyers’ market.  I will keep watching this.

Lake Oswego This Week Stats As Of Monday, August 7, 2017

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.

Lake Oswego Real Estate This Week Stats

In the last several weeks, 34% then 37% and now 41% of Lake Oswego real estate listings saw a price reduction. In addition, the median list priced dropped from $897,000 to this week’s $850,000.

I have written several posts indicating I was seeing prices dropping in the Lake Oswego Real Estate market.  Whether this is an on-going trend will need to be determined after several months.  But for now, the prices seem to be dropping in Lake Oswego.

Three quarters of all properties listed in Lake Oswego are still above the jumbo loan limit of $600,000.  Only 1/4 of the listings in Lake Oswego are under $549,925.

If you are a seller, and your home has not sold, it is time to reduce your asking price.  If you are a buyer for Lake Oswego real estate, keep watching my posts to see if this is an on-going trend in our market.

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How To Interpret Characteristics Per Quartile: With the quartiles we take all the active listings and list them from most expensive to least expensive.  We then divide that by 4 so that each segment has the same amount of inventory (combine the inventory for each quartile and it will equal total inventory for said area).  The “New” is any new listings over the last week.  The “Absorbed” is anything that is no longer 100% active (i.e. pending, sold, expired, removed and etc.).

Source:  Altos Research and Ticor Title

 

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.

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.

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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.

 

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.

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!"

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