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 are in. Things have taken an uptick in October for the Portland area. This was the strongest October for Closed Sales since 2006!
According to the RMLS Market Action Report for the Portland Metro Area October, 2014:
- At 2,487, October Closed Sales rose 4.6% over the month prior, September, and were up a full 13.6% from October of 2013’s 2,189 .
- There were 2,881 New Listings in October which was 7.1% down from September, but rose 13.6% from October 2013.
- The Average Sale Price in October of $335,600 was down $2,500 from the month prior. The first ten months of 2014 are logging an Average Sale Price of $333,200, which is up 7.4% over the same time period in 2013.
- October Pending Sales (accepted offers), at 2,480, were down 2.8% from the month prior. That said, the Pending sales for October are up a full 16.7% over October 2013.
In Lake Oswego and West Lin steady activity is Good with Closed Sales down by 10 and/but Pending Sales up by 6. Average Sale Price was up $11,200 from September. (There is a very wide range of prices in Lake Oswego among a relatively smaller number of homes for sale as compared to the larger Portland area, so this is not unusual.)
The combined areas of Lake Oswego and West Linn for October reported:
- 475 Active Listings (Sept was 501)
- 166 New Listings (Sept was 177)
- 136 Pending Sales (Sept was 130)
- 130 Closed Sales (Sept was 140)
- An Average Sale Price of $547,800. (Sept was $536,600)
- Average Time on the Market: 81 Days (Sept was 100)