A quick recap for Lake Oswego’s April real estate results…
The sales volume in Lake Oswego during April (41 sold) was about 1/2 of April 2007’s pace (85 sold) for all condo, attached, and single-family homes. On the upside, heading into May, approximately 85 homes are sale pending.
The light statistical sample is heavily affected by Lake Oswego’s single-family home price range, so average pricing for all homes was still north of $623,000.
Buyers are looking for values, and as of early May, have access to nearly 680 active listings. That may have a lot to do with April’s final sale prices coming in at 90% average of sellers’ original listing price.
Following is a breakdown of property types by average sale prices, market time, and size:
LAKE OSWEGO MARKET ACTIVITY – APRIL, 2008
| PROPERTY TYPE |
QUANTITY SOLD
|
AVG SALE PRICE
|
AVG SQ. FT.
|
SALE PRICE VS. ORIG. LIST PRICE
|
AVG MARKET TIME*
|
| Condominiums |
10
|
$231,695
|
1,159
|
78%
|
152
|
| Attached Homes |
2
|
$457,000
|
2,060
|
98%
|
11
|
| Single Family Detached Homes |
29
|
$769,813
|
3,149
|
91%
|
103
|
| SUMMARY |
41
|
$623,306
|
2,611
|
90%
|
110
|
* Market time or Days on Market (DOM) refers to the number of days between the time the listing becomes active in the multiple listing service and the date of when an offer has been accepted by the seller.
Data courtesy of RMLS.