Lake Oswego Market Trends

I thought it would be interesting to do a couple of snap shots of various price points in the Lake Oswego real estate market. These each cover all listing/sold activity for the last six months and are divided into value ranges. These are for single-family, detached homes and are all located in the 97034 and 97035 zip codes.  Click on any of the graphs to see a larger, easier-to-read version:

Houses priced from $200,000 to $400,000

• 166 were offered for sale
• 88 sold
• There is currently a listing inventory of 6.3 month
• The average sales price was $324,773
• Among the sold homes, the CDOM (cumulative days on the market) averaged 129 days

Houses priced from $400,000 to $600,000

• 156 were offered for sale
• 71 sold
• There is currently a listing inventory of 10.7 months
• The average sales price was $480,964
• Average cumulative days on the market to sell was 165 days

Houses priced from $600,000 to $800,000

• 76 were offered for sale
• 36 sold
• There is currently an inventory of 10.7 months
• The average sales price was $701,924
• Cumulative days on the market to sell was 234

Houses priced from $800,000 to $1,200,000

• 76 were offered for sale
• 30 sold
• There is an inventory of 17.2 months
• Average sales price was $947,899
• Cumulative days on the market to sell was 373 days

Homes priced $1,200,000 to $2,200,000

• 52 were offered for sale
• 16 sold
• There is a 24.5 month inventory
• Average sales price was $1,552,281
• Cumulative days on the market was 323

I like these little snap shots.  It allows you to visually see the market.  It is very apparent that the first-time-home buyer tax credit that was originally supposed to expire in November had a big impact on the less expensive homes (we will probably see something similar this April with the extension).  It’s also very easy to see that less expensive homes sell more easily than more expensive homes.  Cumulative days on the market in the expensive homes is out and out ugly.

One reason for doing this post, this week, was so that I could play with the new statistics function being offered to Realtors by the RMLS.  Our local multiple listing service was the first in the entire United States to go completely web-based about 8 years ago.  Since then they have continued to push the functions of the website and the new statistics function is the latest enhancement.  It still has some limitations, but it is really cool.  Linda and I can now take snap shots of pretty much any part of the market, depending on what our clients needs are, and produce these spiffy graphs and statistics.  Besides being fun, I think it’s going to be extremely helpful.

I hope you found something useful in the information presented today.  If you have any other areas of the market you’d like studied or questions you’d like answered, just let us know.

Dianne