Here is another post for sold stats in one of Lake Oswego’s elementary schools.

These are the real estate stats for single-family, detached homes in the Westridge Elementary school district for 2017 vs. 2018.

If you are new to Lake Oswego, here is the link to Westridge Elementary School. This elementary school is bettyjung.comlocated at: 3400 Royce Way, Lake Oswego, OR 97034

Westridge Elementary School Sold Stats

Stats for 2017

# Houses Sold = 127

Average Sq. Ft. Sold = 3304 sq.  ft.

Average # of Days On The Market = 67 Days

Average Sold Price = $927,208

% of Original List Price to Sales Price = 96.74%

Stats for 2018

# Houses Sold = 157

Average Sq. Ft. Sold = 3403 sq. ft.

Average # Days On The Market = 91

Average Sold Sq. Ft. $ = $290.

Average Sold Price: $985,206.

% of Original List Price to Sales Price = 91.52%

Summary:

Definitely a popular elementary school.  More homes sold in 2018, at a higher prices, but days on the market increased from 2017.  In addition, it appears that buyers got offers accepted lower than their original list price, compared to 2017, as houses sold at 91.52% of their original list price in 2018.

Are you currently looking for a home in the Westridge Elementary School District? There are currently 35 houses for sale in the Westridge Elementary School District.  You can view them here.

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.  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! 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.

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This is my third post about the stats for an elementary school within the Lake Oswego School District. Today, I am posting/comparing stats for 2017 vs. 2018 for Hallinan Elementary School.

If you are new to Lake Oswego, here is the link to Hallinan Elementary School. This elementary school is bettyjung.comlocated at: 16800 Hawthorne Dr., Lake Oswego, OR. 97034

Hallinan Elementary School Stats

Stats for 2017

# Houses Sold = 119

Average Sq. Ft. Sold = 3089 sq. ft.

Average # of Days On The Market = 96

Average Sold Sq. Ft. $ = $269

Avg. Sold Price = $830,327

% of Original List Price to Sales Price = 96.3%

Stats for 2018

# Houses Sold = 142

Average Sq. Ft. Sold = 2916 sq. ft.

Average # Days On The Market = 59

Average Sold Sq. Ft. $ = $269

Average Sold Price = $785,446.

% of Original List Price to Sales Price = 95.86%

Summary:

More houses in this school district were sold in 2018 vs. 2017.  Houses took quite a bit less time on the market to sell in 2018, sales price dropped in 2018, but pretty much all the other stats are similar for both years.

Are you currently looking for a home in the Hallinan School District?  There are currently 29 houses for sale in the Hallinan School District and you can view them here (limited # of views). 

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.  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! 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.

bettyjung.comThere has been a lot of discussion in my Facebook groups about the recent changes to the FIRPTA Law in Oregon.  Looking over all my blog posts, I realize I have never posted any information about it here, although I have written about it in my Jung’s Journal – Real Estate Newsletter, to my clients. Starting January 2019, there have been some changes made within Oregon when you are buying or selling real estate in regards to FIRPTA.

What follows is a summary from Phil Querin, Querin Law, LLC, to give you some more information/background.  Check with your real estate agent, or me, in addition to your title company regarding what needs to be done whether buying or selling your home.

FIRPTA Oregon & IRS LAW

A Wrong-Headed Law? Most people have never heard of the Foreign Investment in Real Property Tax Act, commonly known as “FIRPTA” – unless they have been involved in the “disposition” (i.e. sale/purchase) of U.S. real property from a “foreign person”.

The FIRPTA law says that if the seller is a “foreign person”, the “transferee” – i.e. the buyer, is the “Withholding Agent” that is legally responsible for collecting the tax and forwarding it to the IRS. Any lay person could be forgiven for thinking it is wrong-headed to make the buyer responsible for their seller’s tax liability. But this has been the law for nearly 40 years. And that’s not all. The IRS says:

In most cases, the transferee/buyer is the withholding agent. If you are the transferee/buyer you must find out if the transferor is a foreign person. If the transferor is a foreign person and you fail to withhold, you may be held liable for the tax.

Huh? It’s true! The premise is that the seller may not be in the country at the time of closing, or may be long gone by the time the IRS finds out.  So while this may sound harsh, it’s likely the only way to administer a law that attempts to tax foreign nationals when they dispose of U.S. real estate – short of having an IRS agent attend every real estate closing.

FIRPTA Primer.  What follows is the Readers Digest version of FIRPTA.

  1. The Withholding Requirement will not apply, even if the seller is a “foreign person” if (a) the purchase price of the property does not exceed $300,000; and (b) The property will be occupied as a residence by the buyer (who is an individual or a member of the buyer’s family) (iii) for at least 50% of the number of days (excluding days the property is vacant) it is used by such person during each of the first two 12-month periods following the date of closing;
  2. The Withholding Requirement is ten percent (10%) of the purchase price when the seller is a “foreign person” and the purchase price is over $300,000, but less than $1,000,000, and (1)(b) and (c) above apply; and
  3. The Withholding Requirement is fifteen percent (15%) of the purchase price when the seller is a “foreign person” and the purchase price is over $1,000,000, or the purchase price is $1,000,000 or less, and Seller does not qualify for any of the exemptions in (1) or (2) above.

The “What Ifs?”  So how does one go about determining if the seller is a “foreign person”?  If the seller is an individual, the easiest way is to ask for their social security number. If the seller is a business entity, you can ask for the employer identification number.

  • But what if the seller declines to turn over their social security number of EIN to their buyer? In the Oregon statewide sale agreement form, the seller affirmatively represents that they are not a foreign person. And the RMLS™ includes a place for a seller to declare whether they are, or are not, a foreign person. So isn’t that good enough? No.
  • What if the seller gives me a social security number that is bogus? Am I protected against failing to withhold, since the seller conned me? Not really.

The FIRPTA Affidavit. The only fail-safe protection is to have the seller sign a “FIRPTA Affidavit” – also known as “Affidavit of Non Foreign Status”. This simple form, containing a certification under oath that the seller is not a “foreign person” and disclosing the transferor’s name, U.S. taxpayer identification number and home address (or office address, in the case of an entity), will insulate the buyer so long as the buyer does not have actual knowledge that it is untrue, i.e. that the seller is a “foreign person”.  (Note that the buyer’s real estate agent can be held liable to the extent of their commission if they have actual knowledge that the seller is a foreign person, and there has been no withholding.)(Go to this link for sample Affidavit form.)

The more complicated issue with the Affidavit is retention; who is to hold it for the required 5-year period?  Since it contains the seller’s social security number (or employer identification number), sellers are understandably reticent to permit their buyer to have this information, for fear of it getting into the wrong hands and resulting in identity fraud.

In an effort to address the issue, a law was enacted to permit someone other than the buyer hold the Affidavit. Thus, was created the “Qualified Substitute” rule, which contemplated that the title company or attorney closing the transaction would serve in that capacity.[5] However, in Oregon at least, several title companies quietly demurred, leaving the task to the buyer.  This may be changing, however, and more companies have recently been coming around, as they see the competition promoting their services as a Qualified Substitute.

Buyer Tip.  If there is any concern about whether FIRPTA could apply to your transaction, make sure your title company will serve as the Withholding Agent to pay the mandatory tax to the IRS (if FIRPTA applies), or serve as the Qualified Substitute (if it does not apply).  

Source: Phil Querin

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.  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! 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.

Every year I say that I will post stats for each of the elementary schools in Lake Oswego, and each year I get side-tracked. Therefore, I am trying to start the year off fulfilling my promise.  I will do a different elementary school each week.

This is now the second elementary school highlighted.  The first was Forest Hills Elementary School. Here are the real estate stats for single-family, detached homes in the Oak Creek Elementary school district for 2017 vs. 2018.

If you are new to Lake Oswego, here is the link to Oak Creek Elementary . This elementary school is bettyjung.comlocated at: 55 Kingsgate Road, Lake Oswego 97035. 

Oak Creek Elementary School Stats for 2017

Stats for 2017

# Houses Sold = 99

Average Sq. Ft. Sold = 2882 sq.  ft.

Average # of Days On The Market = 45

Average Sold Price = $684,218

Average Sold Sq. Ft. $ = $237

% of Original List Price to Sales Price = 96.2%

Stats for 2018

# Houses Sold = 84

Average Sq. Ft. Sold = 2940

Average # Days On The Market = 74

Average Sold Price = $724,872

Average Sold Sq. Ft. $ = $247

% of Original List Price to Sales Price = 97.24%

Summary:

What a difference a year makes.  There were far fewer houses that sold in the Oak Creek elementary school district in 2018 than in 2017.  In addition, the # of days on the market increased = a slower market. Houses also sold closer to the original asking price in 2018 than they did in 2017. Prices were higher and continued to increase in 2018 as well.  All this has been very typical to what we have been seeing across the board in our Portland metro real estate market.

Are you currently looking for a home in the Oak Creek Elementary School District?  There are currently 10 houses for sale and you can view them here (limited # of views). 

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.  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! 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.

Every year I say that I will post stats for each of the elementary schools in Lake Oswego, and each year I get side-tracked. Therefore, I am trying to start the year off fulfilling my promise.  I will do a different elementary school each week.

To start, here are the real estate stats for single-family, detached homes in Forest Hills Elementary School district for 2017 vs. 2018.

If you are new to the Lake Oswego area, here is the link to Forest Hills Elementary School.  This elementary school is located at: 1133 Andrews RoadLake Oswego, OR 97034

Forest Hills Elementary School Real Estate Stats 2017 vs. 2018

Stats for 2017

# Houses Sold = 135

Average Sq. Ft. Sold = 3348 sq.  ft.

Average # of Days On The Market = 89

Average Sold Price = $1,251,813.

Average Sold Sq. Ft. $ = $363.

% of Original List Price to Sales Price = 94.2%

Stats for 2018

bettyjung.com

# Houses Sold = 136

Average Sq. Ft. Sold = 3329 sq. ft.

Average # of Days On The Market = 96

Average Sold Price = $1,133,092

Average Sold Sq. Ft. $ = $350.

% of Original List Price to Sales Price = 96.13%

Summary:

As noted in other posts, prices are still increasing due to our low inventory of houses for sale and days on the market are also increasing.  Houses are taking longer to sell.  Surprisingly, when the market was “hotter” last year, offers in the Forest Hills Elementary school area that were accepted, were 94.2% of the original list price.  Those buyers in 2017, made lowers offers and purchased their homes for less than in 2018. Also, almost the same # of houses sold in 2017 than did in 2018.

Want more information about Forest Hills Elementary School or the area?  I would be happy to provide any information for you.

Houses For Sale Forest Hills Elementary School District

Are you looking for a home in the Forest Hills Elementary School District?  There are currently 39 houses for sale and you can view them here. (Limited # of views).

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.  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! 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.

The year-end stats were published this week along with our December 2018 RMLS Market Action Report.

Portland Metro Average Price Changes Year To Date 2018

Here are the year-to-date average prices and % of increase for each Portland metro area in 2018:

  • North Portland = $419,900 = 4.3%
  • NE Portland = $469,300 = 4%
  • SE Portland = $419,100 = 5.9%
  • Gresham/Troutdale = $353,200 = 7.7%
  • Milwaukie/Clackamas = $428,800 = 4.6%
  • Oregon City/Canby = $420,900 = 7.1%
  • Lake Oswego/West Linn = $676,200 = 0.6%
  • West Portland = $612,700 = 3.8%
  • NW Washington County = $539,200 = 2.5%
  • Beaverton/Aloha = $393,900 = 8.6%
  • Tigard/Wilsonville = $462,500 = 6.3%
  • Hillsboro/Forest Grove = $394,700 = 5.9%
  • Mt. Hood = $321,000 = 5.2%
  • Columbia County = $297,000 = 7.8%
  • Yamhill County = $366,500 = 10.1%

I will be posting more stats for different school districts Lake Oswego in upcoming posts. Check back.

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.  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! 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.

 

 

This morning the December 2018 RMLS™ Market Action report was issued which reflects year-end stats.  In the coming days, I will break down those stats focusing on the different schools and neighborhoods within Lake Oswego and posts for the Portland metro area neighborhoods as well.

Year-End Stats 2018

The report shows a cooling in 2018 which actually started early in the year, and as I have been reporting here on my blog for many months now.  This is not a bad thing, as I have previously stated.  Our wild and crazy real estate market of the past several years could not continue and a cool-down has been welcomed.

Prices are still increasing, albeit not as quickly, because we are still in a sellers’ real estate market in the Portland metro area ending the year with 2.5 months of inventory. A “normal” market has 5-6 months of houses for sale, or under 7 months as per the National Association of REALTORS® (NAR)®.  Others in the real estate industry feel after 3 months’ inventory it becomes a normal market.  However, in either case, we are still a long way from a normal market let alone a buyers’ real estate market.

December Residential Highlights

December brought cooling across the board to the Portland metro area.

Pending Sales

Pending sales, at 1,599, fell 9.0% short of the 1,757 offers accepted last year in December 2017 and 16.0% short of the 1,904 offers accepted last month in November 2018.

Closed Sales

Closed sales (1,846) fared similarly, ending 21.4% lower than in December 2017 (2,350) and 13.9%
lower than in November 2018 (2,144). This is the coolest December for closings in Portland metro since
2013, when 1,821 were recorded.

New Listings

New listings, at 1,255, cooled 22.4% from December 2017 (1,617) and 45.7% from November 2018 (2,310).

Days On The Marketbettyjung.com

Total market time rose to 64 days in December, with inventory decreasing slightly to land at 2.5 months.

Year to Date Summary

Activity in 2018 was mixed compared to 2017. New listings (41,287) increased 1.2%. Pending sales (29,809) decreased 4.9% and closed sales (29,771) decreased 5.9%
this year.

Average and Median Sale Prices

Comparing 2018 to 2017 through December, the average sale price rose 5.5% from $428,700 to $452,400. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.

Selling Your Home In 2019

Sellers need at this point to re-educate themselves as to the market conditions since they may be used to houses selling instantly.  Now, with 64 days’ market time, and a slower market, sellers will need to adjust their expectations.  It still comes down to price, condition and location.  Those tenents have not changed as long as I have been selling real estate, now going into my 41st year. Regardless of the market, good, or bad, it always comes down to those three. It used to also be dependent upon terms.  However, now with all the various financing programs, that no longer enters into the picture as often.

Recession?

I have written about this topic on several occasions and have also included a long article in my January 2019 real estate newsletter – Jung’s Journal.  Whether there is or isn’t another recession on the horizon, there are always reasons to buy and/or sell.  Having been through 6 or 7+ recessions now, I can guarantee you that houses still sell and buyers still purchase a home.

Apprecition

The areas that had the highest appreciation rate in 2018 were Yamhill County #1, Beaverton/Aloha #2 and Gresham/Troutdale #3. The over-all Portland metro area had a 5.6% appreciation rate.  I will break down the appreciation rates for all the areas in another post.

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.  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! 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.

 

 

bettyjung.comI wrote a post regarding sold stats for Lake Oswego real estate zip codes 97034 and 97035 for February to July 2018.  Here is the link to that post. It is time to update that post now. 

Lake Oswego Real Estate Year-End Sold Stats

In the post referenced above, it showed there was a slow-down in our Lake Oswego real estate market starting in July 2018.  That actually continued throughout the balance of 2018 as noted below:

  • August 2018 – 74 houses sold = average sold price $934,038
  • September 2018 – 68 houses sold = average sold price $869,819
  • October 2018- 61 houses sold = average sold price $960,121
  • November 2018 – 39 houses sold = average sold price $871,622
  • December 2018 – 52 houses sold = average sold price $794,069

While sales did slow down in Lake Oswego, it is still a sellers’ market.  For those of you waiting for prices to drop, just know that as interest rates increase it will cost you more.  However, we started the New Year with interest rates decreasing.  It is a good time to buy.  As soon as it might become a buyer’s market, you may also see higher rates, so you really have gained nothing by waiting.

2019 LAKE OSWEGO REAL ESTATE STATS

As soon as our RMLS™ Market Action Update is issued for December 2018, I will be able to post year-end stats.  That should be most likely this next week.

If you are thinking of selling, now rather than later may be a good time to put your home on the market for sale.

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.  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! 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.

 

 

 

Our latest stats were posted during this past week and I, as always, seem to be late in posting them.

These stats are for November and represent the latest from RMLS™.  They are not the year-end stats.  Those will come out mid-January and will be interesting compared to other years.

You don’t have to be an economist to know that our Portland metro real estate markets started to slow down in June 2018. So many reports in the media seem to think this is a bad thing.  It is not.  Our crazy market over the last few years could not sustain itself and continue.bettyjung.com

We are heading to a more normal market, as I have been reporting for quite a while now.  Days on the market have increased, inventory has increased, and prices still continue to increase, although not at the rapid rate or at the double digits they had been.

We had snow over the beginning of 2018, and as you can see from the chart, we also had more inventory than usual in January 2018.

Buyers seem to be hanging tough and waiting for prices to drop.  I frankly don’t see that happening in the near future, although the days of houses selling before the ink is dry or sign gets in the yard, seem to be slowing; as well as multiple offers, although they are still happening in some areas.

Market Action Report November 2018 

November Residential Highlight

Portland saw some cooler activity this November.

New Listings

New listings, at 2,310, fell 4.4% short of the 2,416 new listings offered last year in
November 2017 and 25.5% short of the 3,100 new listings offered last month in October 2018.

Closed Sales

Closed sales (2,144) fared similarly, cooling 10.2% from November 2017 (2,387) and 12.1% from October 2018 (2,440).

Pending Sales

Pending sales (1,904) ended 19.7% under the 2,371 offers accepted last year in November 2017 and 23.3% under the 2,484 offers accepted last month in October 2018. The last November with fewer pending listings was in 2013, when 1,827 offers were accepted.

Days On The Market

Total market time rose to 57 days in November, with inventory increasing slightly to 2.8 months.

Year to Date Summary

Activity so far in 2018 is mixed compared to 2017. New listings (39,974) are up 2.2%. Pending sales (28,290) and closed sales (27,786) are down 4.5% for the year so far.

Average and Median Sale Prices

Comparing 2018 to 2017 through November of each year, the average sale price rose 5.6%from$429,000 to $453,100. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.

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.

This is the time of year I am always looking to donate and give to those in need just like many of you do.  However, the charities I am interested in are to benefit the homeless and our Veterans. Some of those organizations give very little of their total donations to the homeless, those who are hungry or need housing or clothes.  I am careful where and who I give to.

Recently, I donated my personal car.  I wanted to give it to the homeless, but their organization was headquartered in Spokane, WA. and my location was out of their service area.  Instead, I donated it to Vehicles for Veterans.

Lake Oswego Giving Opportunities

The City of Lake Oswego always has great giving opportunities to brighten the holidays for others.

Project Pillowcase

200 pillowcases were made by the City of Lake Oswego staff with donated fabric.  Now these pillowcases are available to be picked up by you to fill them with basic needs along with special gifts for homeless families, seniors, children and many teenagers.  Return those filled pillowcases to City Hall by Friday, December 14.  Hopefully, the pillowcases and the items that fill the pillowcases will bring comfort to those in need.

Oregon Food Pantries

There are 250,000 residents, and approximately 100,000 of children, that request emergency food each month.  You can make a difference with your food donation at City Hall, the main Fire Station, or the Lake Oswego Library throughout December.

Toy Drive

The Lake Oswego Fire Department and the Library are accepting new toys (with no gift wrapping) to bring holiday cheer to children in need.  Toys will be shared with families throughout the local area and distributed by Tualatin Valley Elks Lodge.  Please drop off toys by Decemeber 14 at the Lake Oswego Fire Department Main Stations (300 B Avenue) or the Lake Oswego Library (706 Fourth Street).

Lake Oswego Lions Club

Coats, blankets and gloves are being collected for Hope Sparrow Service to keep the chill away.  Hope Sparrow Services will distribute those items throughout the winter to families in need in our community, especially children. Drop off lightly used, clean items at the south entrance of City Hall, 380 A Avenue, through the end of January.

#Rockin’Socks

As of today, I am personally starting a sock drive.  It will continue throughout 2019 for the homeless.  My goal is 1,000 pairs of socks in 2019.  If you want me to pick up your donation, you can send me a text at 503.804.9685 and just say #rockinsocks and your address.  I will gladly come pick them up.

Return of the Coffee Meet Ups

Also, starting the last Wednesday in January 2019, I am returning with my coffee meetups.  I will be at Ava Roasteria

Ava Roasteria – LAKE OSWEGO

4847 Meadows Rd #147, Lake Oswego, OR 97035

the last Wednesday of every month from 6:30-7:30 pm.  If you have any real estate questions, or just want to meet to get to know one another, come join me the last Wednesday in January 30, 2019 for the return of my coffee meet ups and please bring bring socks – 1 pair or as many pairs as you can. I will also treat you to a cup of coffee or latte.

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.

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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