Inventory is higher & prices have evened out a bit. Sounds like a good time to buy! Its said that when the inventory gets to around 4.0 months, it becomes a balanced market. We’re not *quite* there, yet, but it is a leveling-out market now for sure, and fall is always a great time to buy anyway ; )
Here is your look at the most recent data for the entire Portland area (Sept) and how Lake Oswego fits in to this picture just below:
- According to the RMLS Market Action Report for the Portland Metro Area, September, 2018:
- There were 3,606 New Listings in September 2018 which was down slightly at 1.0% from September of 2017’s 3,644, and also down 14.4% from the previous month/August of 2018’s total of 4,214 .
- At 2,272, September Closed Sales fell 14.6% from September 2017’s 2,660, and is also down 23.4 % from the previous month/August 2018’s total of 2,967.
- September’s Pending Sales (accepted offers), at 2,471 were cooler at 9.5% down from Sept of 2017’s 2,730, and 10.5% down as well from the previous month/August 2018’s total of 2,760.
- The Average Sale Price in September of $447,800 was up $21,100 from September 2017’s $426,700, and down from the previous month/August 2018’s $462,400 by $14,600.
Neighborhoods: September’s Average Sale Price + 12-month Appreciation :
- North Portland: $416,300 5.7% (Aug 403,000)
- NE Portland: $433,700 3.8% (Aug 468,800)
- SE Portland: $420,200 6.9% (Aug 427,500)
- Gresham/Troutdale: $352,200 9.5% (Aug 360,000)
- Milwaukie/Clackamas: $437,400 5.0% (Aug 444,000)
- Oregon City/Canby: $404,300 6.5% (Aug 436,000)
- Lake Oswego/West Linn:$627,000 3.4% (Aug 745,100)
- West Portland: $631,700 3.4% (Aug 646,200)
- NW Wash County: $486,200 3.8% (Aug 557,900)
- Beaverton/Aloha: $402,800 7.7% (Aug 406,600)
- Tigard/Wilsonville: $466,900 7.9% (Aug 466,100)
- Hillsboro/Forest Grove: $393,200 6.7% (Aug 386,900)
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of September 2018 reported:
-
- 507 Active Listings (Aug 510)
- 183 New Listings (Aug 251)
- 122 Pending Sales (Aug 150)
- 141 Closed Sales (Aug 156)
- Average Sale Price for September: $627,000 (Aug 745,100)
- 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.
- 61 Average Days on the Market (Aug 58)