Here is your look at the most recent data for the entire Portland area (March 2020) and how Lake Oswego fits in to this picture just below.
Inventory remains low and so basically, we have a housing shortage going on right now. Mortgage Rates are at 3.3% as of this writing. For the most part, Portland Real Estate is holding steady with prices improving and New Listings and Closed Sales, for instance up right around 25% from last month along with Areas in & around Gresham, Oregon City, Milwaukie/Clackamas, & Hillsboro, are still the strongest as far as Appreciation goes.
According to the RMLS Market Action Report for the Portland Metro Area, March 2020:
- There were 3,468 New Listings in March 2020 which decreased 1.0% from March of 2019’s 3,504, and also increased significantly- up 25% from the previous month/February’s 2,759.
- At 2,536, March 2020’s Closed Sales rose 7.9% over March 2019’s 2,183, but are up a whopping 24.2% from the previous month/February 2020’s total of 1,897.
- At 2,347, March 2020’s Pending Sales are down 14.3% from March 2019’s 2,738, and also fell 9.7% from the previous month/February 2020’s total of 2,598.
- The Average Sale Price in March 2020 of $465,500 is up $17,600 from last year/March 2019’s $447,900, and also up $7,600 from the previous month/February 2020’s $457,900.
- The “Median” Sale Price (the price smack dab in the middle of all sales) in March 2020 of $425,000 rose from last year/March 2019’s $399,000 by $26,000, and is also up $18,000 from the previous month/February 2020’s $407,000.
Neighborhoods: March’s Average Sale Price + 12-month Appreciation:
- North Portland: $441,300 1.3% (Feb $407,900)
- YTD Median: $405,000
- NE Portland: $470,500 3.3% (Feb $482,200)
- YTD Median: $420,000
- SE Portland: $442,600 1.1% (Feb $424,700)
- YTD Median: $380,000
- Gresham/Troutdale: $355,000 4.7% (Feb $376,600)
- YTD Median: $356,000
- Milwaukie/Clackamas: $466,100 4.9% (Feb $443,700 )
- YTD Median: $425,000
- Oregon City/Canby: $447,000 3.8% (Feb $448,600)
- YTD Median: $430,000
- Lake Oswego/West Linn:$687,400 2.7% (Feb $705,100)
- YTD Median: $586,000
- West Portland: $580,400 -1.5% (Feb $581,600 )
- YTD Median: $512,000
- NW Wash County: $544,200 0.1% (Feb $510,400)
- YTD Median: $475,000
- Beaverton/Aloha: $445,100 3.0% (Feb $412,800)
- YTD Median: $410,000
- Tigard/Wilsonville: $487,200 1.7% (Feb $485,600)
- YTD Median: $460,000
- Hillsboro/Forest Grove: $406,900 5.8% (Feb $414,200)
- YTD Median: $391,000
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of February 2020 reported:
-
- 305 Active Listings (Feb 226)
- 183 New Listings (Feb 151)
- 87 Pending Sales (Feb 119)
- 103 Closed Sales (Feb 72)
- Average Sale Price for February: $687,400 (Feb $705,100)
- 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.
- 106 Average Days on the Market (Feb 86)