News & Notes ~ Aug 2020 Numbers

Here is your look at the most recent data for the entire Portland area (August 2020) and how Lake Oswego fits in to this picture just below.

Inventory is still very low.  Pending Sales (Offers being accepted) are up this summer. About the same as July, and up a whopping 26.2% from last year.

It is still considered a Sellers’ Market and Buyers are still out en force. Rates are still very good, around 2.875 today.

According to the RMLS Market Action Report for the Portland Metro Area, August 2020:

  • There were 3,885  New Listings in Aug 2020 which increased 3.4%  from Aug of 2019’s 3,757, and decreased 8.3% over the previous month/July’s 4,236.
  • At 3,149, Aug 2020’s Closed Sales are up at 8.5% from Aug 2019’s 2,901, and dropped by 7.1% from the previous month/July 2020’s total of 3,391
  • At 3,697, Aug 2020’s Pending Sales are up 26.2% from Aug 2019’s 2,929, and increasing 1.1% over the previous month/July 2020’s total of 3,656.
  • The Average Sale Price in Aug 2020 of $511,000 is up $48,400 from last year/Aug 2019’s $462,600, and is also up $8,700 from the previous month/July 2020’s $502,300.   YTD increase is 4.8%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Aug 2020 of $449,000 rose from last year/July 2019’s $417,500 by $31,500, and is up by $4,000 from the previous month/July 2020’s $445,000    YTD increase is 4.9%.

Neighborhoods: August’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $461,800              3.6%   (July $453,900)
    •                                                     YTD Median: $427,000
  • NE Portland:  $527,500                   2.6%   (July $515,100)
    •                                                     YTD Median: $445,000
  • SE Portland:  $487,200                   4.7%   (July $459,500)
    •                                                     YTD Median: $400,000
  • Gresham/Troutdale:   $393,900     2.3%   (July $393,100)
    •                                                     YTD Median: $369,000
  • Milwaukie/Clackamas:  $480,800  4.9%   (July $487,000)
    •                                                     YTD Median: $442,000
  • Oregon City/Canby:   $481,800      4.5%   (July $447,300 )
    •                                                     YTD Median: $439,800
  • Lake Oswego/West Linn:$787,000  10.2%  (July $830,600)
    •                                                      YTD Median: $629,000
  • West Portland:    $656,500             1.8%  (July $629,500)
    •                                                     YTD Median: $540,000
  • NW Wash County:  $574,200          2.5%   (July $575,600 )
    •                                                      YTD Median: $513,000
  • Beaverton/Aloha:     $442,000       3.1%   (July $416,300)
    •                                                     YTD Median: $410,500
  • Tigard/Wilsonville:   $537,900        5.7%   (July $537,300)
    •                                                      YTD Median: $474,000
  • Hillsboro/Forest Grove: $452,400  5.8%   (July $437,100)
    •                                                      YTD Median: $404,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of August 2020 reported:

    •  290 Active Listings (July 311)
    •  229 New Listings     (July 242)
    •  208 Pending Sales   (July 191)
    •  178 Closed Sales       (July 193)
    • Average Sale Price for Aug: $787,000  (July $830,600)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  71 Average Days on the Market   (July 62)

 

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