Here is some recent data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:
According to the RMLS Market Action Report for the Portland Metro Area January, 2013. At 1,344, Closed Sales were less than December’s 1,760, BUT, amount to the most Closed Sales in any January since 2007!
- There were 2,438 New Listings (an 89.6% increase over Dec. 2012).
- The Average Sale Price in January was $287,700. Comparing the average price of $277,000 during the last 12 months ending on Jan. 31st 2013, with the same 12 month period ending Jan. 31, 2012 of $262,900, there has been an increase of 5.4%
- December 2012 logged 1,384 Pending Sales, while January 2013 ratcheted that up to 1906! For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported:
- 450 Active Listings
- 187 New Listings
- 130 Pending Sales
- 79 Closed Sales
- An average Sale Price of $480,600.
- Average Time on the Market: 138 Days