News & Notes

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) numbers:

The latest real estate numbers in Portland and the Lake Oswego/West Linn areas for August are in. There’s a mixed bag of improvement generally over last year, and/but continued slowing in August, as in July, from the months prior.

According to the RMLS Market Action Report for the Portland Metro Area  August, 2014:

  • At 2,586, August Closed Sales dropped 3.4% from the month prior (July), and 1.4% from August of 2013.
  • There were 3,581 New Listings in August which was 4.6% higher than August 2013, but down a whopping 9.4% from the month prior.
  • The Average Sale Price in August of $340,000 was down exactly $4,470 from the month prior. The first eight months of 2014 are logging an Average Sale Price of $332,600, which is up 7.6% over the same time period in 2013.
  • August Pending Sales (accepted offers), at 2,704, were down 3.5%  from the month prior. They were also slowing in July, which indicates fewer offers being made. That said, the Pending sales for August are up 3.4% over August 2013 .

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In Lake Oswego and West Linn we have some slowing in New Listings from July, and exactly the same number of Pending Listings…which is interesting :  )  The number for Closed Sales (how many were actually completed during August) is down a bit. The number of days it is taking for a property to sell is shrinking… which is a Good thing! As always, the Average Sale Price is higher than Portland Metro numbers. This is because of the percentage of high dollar homes, and does not mean that you can’t find reasonably priced homes here as you can see from our weekly Market Activity Reports.

The combined areas of Lake Oswego and West Linn  for August reported:

    • 531Active Listings
    • 185 New Listings
    • 148 Pending Sales
    • 134 Closed Sales
    • An average Sale Price of $520,200.
    • Average Time on the Market: 57 Days

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