Once again we edged up only slightly in inventory.  Certainly not enough to meet buyer demand in this Spring real estate market, yet alone as we enter our busiest buying season going into Summer.

Lake Oswego Real Estate April 2018 RMLS™ Market Action Report

April Residential Highlights

Closed Sales

Closed sales saw an upswing this April in the Portland metro area real estate market. There were 2,523 closings, a 13.7% increase over April 2017 (2,219) and a 6.4% increase over last month in March 2018 (2,371).

New Listings

New listings (3,990) saw gains as well, outpacing April 2017 (3,759) by 6.1% and March 2018 (3,648) by 9.4%.

Pending Sales

Pending sales, at 3,008 in April, fell 2.6% short of the 3,088 offers accepted last year in April 2017 but edged 3.9% over the 2,894 offers accepted last month in March 2018.

Inventory

Inventory increased by a fraction of a month in the Portland metro area in April, ending at 1.8 months. During the same time, total market time decreased to 42 days. There were 4,469 active residential listings in the Portland metro area this April.

Average and Median Sale Prices

Comparing the average price of homes sold in the twelve months ending April 30th of this year ($436,800) with the average price of homes in the twelve months ending April 2017 ($406,400) shows an increase of 7.5%. In the same comparison, the median has increased 9.1% from $355,300 to$387,500.

Lake Oswego Real Estate Market

Lake Oswego had 2.2 months of inventory in April 2018, down from 2.6 months in March 2018. There is still a shortage in most, if not all, of our real estate markets throughout Portland.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today's real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I'd love to be your buyer's agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is 'hot' here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! 'There is no substitute for experience.'

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