Here is your look at the most recent data for the entire Portland area (February 2020) and how Lake Oswego fits in to this picture just below.
Inventory remains low and Buyers are out en force. Interest rates have taken a steep dive and that is fueling this busy season as well. We’ve got increases in every segment (New, Pending & Closed), with Pending & Closed Sales really jumping up from January, and everything up significantly from 2019. Sale Prices are up over Feb 2019, and down a little bit from January. Areas in & around Gresham, Oregon City, Milwaukie/Clackamas, & Hillsboro, are the strongest as far as Appreciation goes.
According to the RMLS Market Action Report for the Portland Metro Area, February 2020:
- There were 2,759 New Listings in February 2020 which increased 12.9% from February of 2019’s 2,444, and also increased slightly at 0.2% from the previous month/January’s 2,754.
- At 1,897, February 2020’s Closed Sales were up 9.9% over February 2019’s 1,726, and also up 14.1% from the previous month/January 2020’s total of 1,663.
- At 2,598, February 2020’s Pending Sales rose 17.7% over February 2019’s 2,208, and rose 14.4% from the previous month/January 2020’s total of 2,271.
- The Average Sale Price in February 2020 of $457,900 up $16,800 from last year/February 2019’s $441,100, and came down $5,100 from the previous month/January 2020’s $463,000.
- The “Median” Sale Price (the price smack dab in the middle of all sales) in February 2020 of $407,000 was up from last year/February 2019’s $399,900 by $7,100, and up $1,000 from the previous month/January 2020’s $406,000.
Neighborhoods: February’s Average Sale Price + 12-month Appreciation:
- North Portland: $407,900 0.8% (Jan $392,900)
- YTD Median: $385,000
- NE Portland: $482,200 2.5% (Jan $483,100)
- YTD Median: $410,000
- SE Portland: $424,700 1.1% (Jan $427,000)
- YTD Median: $370,200
- Gresham/Troutdale: $376,600 5.4% (Jan $363,700)
- YTD Median: $356,000
- Milwaukie/Clackamas: $443,700 4.3% (Jan $451,300 )
- YTD Median: $424,000
- Oregon City/Canby: $448,600 4.8% (Jan $449,300)
- YTD Median: $433,600
- Lake Oswego/West Linn:$705,100 2.8% (Jan $712,600)
- YTD Median: $585,000
- West Portland: $581,600 -1.8% (Jan $601,000 )
- YTD Median: $510,000
- NW Wash County: $510,400 -1.2% (Jan $498,000)
- YTD Median: $460,000
- Beaverton/Aloha: $412,800 2.6% (Jan $414,500)
- YTD Median: $400,000
- Tigard/Wilsonville: $485,600 0.9% (Jan $507,100)
- YTD Median: $455,000
- Hillsboro/Forest Grove: $414,200 5.8% (Jan $419,500)
- YTD Median: $394,300
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of February 2020 reported:
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- 226 Active Listings (Jan 217)
- 151 New Listings (Jan 153)
- 119 Pending Sales (Jan 106)
- 72 Closed Sales (Jan 72)
- Average Sale Price for February: $705,100 (Jan $712,600)
- 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.
- 86 Average Days on the Market (Jan 117)