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) activity:

June numbers were very good, as we’d expect given the trends lately. That said, the trend upward in all numbers cooled just a bit.  Most believe this was due to some fluctuation in mortgage rates in June that had some people re-figuring their numbers.  I’ve also seen quite a few people trying to grab houses before they go to someone else, and then changing their mind about that particular home.  Bottom line, the market is hot, AND, think before you offer. Make sure you Love it : )

According to the RMLS Market Action Report for the Portland Metro Area June, 2013:

  • At 2,511, Closed Sales were a 6.4% decrease from May, and a 11.9% increase over June of 2012.
  • There were 3,751 New Listings in June. This was a drop of 2.1% from May, and an increase of 16.9% over June of 2012.
  • The Average Sale Price in May was $313,900, down $3,000. from $316,600 in May 2013.  …Average Sale Price in June 2012 was $284,100.
  • Pending Sales (accepted offers) also decreased a bit from May 2013, from 2978  to 2804  in June.

For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported a mixed bag of up in some categories and slightly down in others:

    • 517 Active Listings
    • 238 New Listings
    • 152Pending Sales
    • 174 Closed Sales
    • An average Sale Price of $447,800.
    • Average Time on the Market: 74Days
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