Well, the latest numbers for the entire Portland area for December and 2015 are in! This is particularly interesting because the numbers are through December 31st…therefore there are figures for December (best look at what’s happening “right now”) AND for the entire year.
I usually give our Property Blotter Readers a glimpse at the whole Portland market and how Lake Oswego fits into it below. Here you go!
According to the RMLS Market Action Report for the Portland Metro Area:
- There were 1,548 New Listings in December which was 2–down / -0.1% from December of 2014, and also down 28.4% from November of 2015.
- At 2,710, December Closed Sales were up a whopping 25.9% from November and up 21% over December of 2014.
- December Pending Sales (accepted offers), at 1,936, fell 22.7% from November, and/but were up 16.1% over December 2014.
- The Average Sale Price in December of $367,600 was down $12,000 from November’s Average of $355,600, and up $36,000 (!!) from December 2014’s Average of $331,600.
- The Year-End (Year-To-Date/YTD) Average Sale Price for the Overall Portland Area was $354,500. That compares to 2014’s YTD Average Sale Price which was $333,000.
- The big story is about Inventory which was at 1.2 months as of December 31st…The lowest since 1999.
Average Sale Prices By Area YTD for 2015 were:
- North Portland: $335,000
- NE Portland: $376,700
- SE Portland: $330,100
- Gresham/Troutdale: $263,000
- Milwaukie/Clackamas: $335,600
- Oregon City/Canby: $325,200
- Lake Oswego/West Linn: $541,800
- W Portland: $495,100
- NW Washington County: $442,700
- Beaverton/Aloha: $297,300
- Tigard/Wilsonville: $370,600
- Hillsboro/Forest Grove: $293,900
The combined areas of Lake Oswego and West Linn for the month of December 2015 reported:
- 255 Active Listings
- 86 New Listings
- 98 Pending Sales
- 143 Closed Sales
- Average Sale Price for December of $567,300
- 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.
- Average Time on the Market: 81 Days