You are currently browsing the category archive for the ‘This Week’s Stats’ category.

It has been some time since I have posted “This Week Stats”.  For previous posts, you can view them here.

Here are the stats for Lake Oswego Zip Code 97035.  If you are interested in another zip code, neighborhood or area, please let me know and I would be happy to provide you that information.

Lake Oswego This Week Stats Zip Code 97035

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Summary:

It is still a sellers’ market throughout Lake Oswego but days on the market have increased.  The higher the price, the longer the market time.

The median list price is at $799,950 and 39% of those properties currently on the market have had a price reduction.  In addition, 18% of those that were on the market relisted their homes when it did not sell.

By the way, the most expensive home currently on the market in zip code 97035 is $5,495,000.  If you want to view it, give me a call.

Source: First American Title Company and Altos Research

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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.  Or check out my 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! 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 2008-2019. 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 RMLS™ Market Action Report March 2019

“Yes Virginia” there is a sellers’ market in the Portland metro area.  And, we have had a sellers’ market going back several years now. Here is what happened in our Portland metro real estate market from our RMLS™ ending the first quarter of 2019!

March Residential Highlights

March brought some gains to the Portland metro area, but all measures were cooler than last year in March 2018.

Listings

There were 3,504 new listings, a 43.4% increase over February 2019 (2,444) but new listings fell 3.9% short of the 3,648 new listings offered last year in March 2018.

Pending Sales

Pending sales (2,738) ended 5.4% below the 2,894 offers accepted last year in March 2018 but rose 24.0% over the 2,208 offers accepted last month in February 2019.

Closed Sales

Closed sales, at 2,183 in March, fared similarly, ending 7.9% below the 2,371 closings recorded in March
2018 but rising 26.5% from last month in February 2019 when 1,726 closings were recorded.

Inventory of Houses for Salebettyjung.com

Inventory decreased to 2.2 months in March, with total market time decreasing to 68 days. There were 4,808 active residential listings on the market in the Portland metro area this March.

Average and Median Sale Prices

Comparing the average price of homes sold in the twelve months ending March 31st of this year ($452,700) with the average price of homes in the twelve months ending March 2018 ($434,800) shows an increase of 4.1%. In the same comparison, the median has increased 3.9% from $385,000 to
$400,000.

Lake Oswego Real Estate Market

Our Lake Oswego Real Estate market had low appreciation this quarter and only increased slightly. The average price % change for Lake Oswego/West Linn was only 2.2%. There were other areas in our local Portland real estate market that saw similar appreciation rates and even lower, and one area in particular, had no appreciation during this First Quarter 2019.

I will write a different blog post just about the appreciation rates for our Portland metro area, first quarter 2019, at another time soon.

However, things are certainly not negative as we are STILL seeing multiple offers, prices are still increasing, and we still have low interest rates. The multiple offers are not as wide-spread as in year’s past, but please buyers, get pre approved.  Know that you will be in competition with other offers and you really, really need to come up in price considerably if you want that property.

Get Pre-Approved

After all this time, I have written about it constantly, and you see it in the media, get pre approved!!  If you saw the property of your dreams today, you could not purchase it without being pre approved and having a pre approval letter in your hand BEFORE you make an offer.  As agents, we are not presenting offers if you do not have a pre approval letter.  Sellers don’t even want us to show their homes unless you are pre approved, and rightfully so.  We are very serious when we request you go through the pre approval process.

Lake Oswego Highlights

It took 94 days to sell a home during the First Quarter 2019 in West Linn/Lake Oswego.  Much higher than for the over-all Portland metro real estate market, which was 68 days.  The West Linn/Lake Oswego had more houses on the market for sale too and the inventory level was 3 months for the end of the first quarter.  Portland as noted above has 2.2 months’ inventory.

However, even at that level of inventory, the West Linn/Lake Oswego market is still also a sellers’ real estate market. When you look at the number of homes currently for sale in West Linn/Lake Oswego, there are only 326 active listings for sale, a relatively low number for both areas.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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.  Or check out my 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego, OR 97035

For Fri Nov 23 2018 

This week the median list price for Lake Oswego, OR 97035 is $727,000 with the market action index hovering around 33. This is less than last month’s market action index of 34. Inventory has held steady at or around 106.

Market Action Index

The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

Slight Seller’s Advantage

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again

REAL MARKET PROFILE

Currently it is still a seller’s market in Lake Oswego’s zip code 97035.  However, it is edging towards a more normal real estate market.  Below you can see that days on the market are increasing and 59% of all the listings on the market had a price adjustment this past week.  The number of homes, listings currently for sale, is still low and holding steady, with not a lot of new inventory coming on the market  for sale. As long as we have low inventory, prices will continue to increase and it will remain a seller’s market.

Thinking of Selling Your Lake Oswego Home?

Now may be the best time to sell your home.  Don’t know how much equity you really have or what a price would be to sell your home?  I can help! Give me  a call. Your home may be worth more than you think. 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.

I have worked in Lake Oswego as a Real Estate Broker since 1978, have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is still strong 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 law.

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.

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.

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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