Here is your look at the most recent data for the entire Portland area (Sept 2020) and how Lake Oswego fits in to this picture just below.
Inventory is now basically lower than its ever been. That’s a big deal. Listings have dropped substantially from August, and Pending Sales (transactions in progress) are up a whopping 36.4% over Sept 2019, which reflects how the activity locally was pushed way farther into/through the summer than is usual.
This time of year I still say “Fall is for Buyers” as Sellers are generally more willing to negotiate heading into winter, but this year it is good to be a Seller too, as there is just not much out there in terms of competition.
Rates are still very good, around 2.875 today.
According to the RMLS Market Action Report for the Portland Metro Area, Sept 2020:
- There were 3,264 New Listings in Sept 2020 which decreased 5.9% from Sept of 2019’s 3,470, and decreased 16.0% over the previous month/August’s 3,885.
- At 3,251, Sept 2020’s Closed Sales are up 36.8% from Sept 2019’s 2,377, and also up 3.2% from the previous month/Aug 2020’s total of 3,149
- At 3,152, Sept 2020’s Pending Sales are up 17.3% from Sept 2019’s 2,686, and decreased 14.7% over the previous month/July 2020’s total of 3,697.
- The Average Sale Price in Sept 2020 of $510,000 is up $51,600 from last year/Sept 2019’s $458,400, and is about the same as the previous month/Aug 2020’s $511,000. YTD increase is 5.7%.
- The “Median” Sale Price (the price smack dab in the middle of all sales) in Sept 2020 of $451,000 rose from last year/Sept 2019’s $410,000 by $41,000, and is up by $2,000 from the previous month/Aug 2020’s $449,000. YTD increase is 5.7%.
Neighborhoods: September’s Average Sale Price + 12-month Appreciation:
- North Portland: $476,000 5.0% (Aug $461,800)
- YTD Median: $430,000
- NE Portland: $532,100 3.3% (Aug $527,500)
- YTD Median: $450,000
- SE Portland: $467,700 5.9% (Aug $487,200)
- YTD Median: $402,000
- Gresham/Troutdale: $409,300 4.1% (Aug $393,900)
- YTD Median: $370,000
- Milwaukie/Clackamas: $487,300 5.4% (Aug $480,800)
- YTD Median: $445,000
- Oregon City/Canby: $469,700 5.0% (Aug $481,800)
- YTD Median: $439,900
- Lake Oswego/West Linn:$782,600 10.4% (Aug $787,000)
- YTD Median: $637,000
- West Portland: $636,600 3.4% (Aug $656,500)
- YTD Median: $545,000
- NW Wash County: $600,600 4.3% (Aug $574,200)
- YTD Median: $516,500
- Beaverton/Aloha: $447,000 4.1% (Aug $442,000)
- YTD Median: $415,000
- Tigard/Wilsonville: $534,300 7.7% (Aug $537,900)
- YTD Median: $475,000
- Hillsboro/Forest Grove: $438,300 5.6% (Aug $452,400)
- YTD Median: $407,300
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of September 2020 reported:
- 250 Active Listings (Aug 290)
- 173 New Listings (Aug 229)
- 180 Pending Sales (Aug 208)
- 191 Closed Sales (Aug 178)
- Average Sale Price for Sept: $782,600 (Aug $787,000)
- 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.
- 45 Average Days on the Market (Aug 71)