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2018-12-16 18:56:12
Lake Oswego Real Estate RMLS Market Action Report November 2018

Our latest stats were posted during this past week and I, as always, seem to be late in posting them.

These stats are for November and represent the latest from RMLS™.  They are not the year-end stats.  Those will come out mid-January and will be interesting compared to other years.

You don't have to be an economist to know that our Portland metro real estate markets started to slow down in June 2018. So many reports in the media seem to think this is a bad thing.  It is not.  Our crazy market over the last few years could not sustain itself and continue.bettyjung.com

We are heading to a more normal market, as I have been reporting for quite a while now.  Days on the market have increased, inventory has increased, and prices still continue to increase, although not at the rapid rate or at the double digits they had been.

We had snow over the beginning of 2018, and as you can see from the chart, we also had more inventory than usual in January 2018.

Buyers seem to be hanging tough and waiting for prices to .  I frankly don't see that happening in the near future, although the days of houses selling before the ink is dry or sign gets in the yard, seem to be slowing; as well as multiple offers, although they are still happening in some areas.

Market Action Report November 2018 

November Residential Highlight

Portland saw some cooler activity this November.

New Listings

New listings, at 2,310, fell 4.4% short of the 2,416 new listings offered last year in
November 2017 and 25.5% short of the 3,100 new listings offered last month in October 2018.

Closed Sales

Closed sales (2,144) fared similarly, cooling 10.2% from November 2017 (2,387) and 12.1% from October 2018 (2,440).

Pending Sales

Pending sales (1,904) ended 19.7% under the 2,371 offers accepted last year in November 2017 and 23.3% under the 2,484 offers accepted last month in October 2018. The last November with fewer pending listings was in 2013, when 1,827 offers were accepted.

Days On The Market

Total market time rose to 57 days in November, with inventory increasing slightly to 2.8 months.

Year to Date Summary

Activity so far in 2018 is mixed compared to 2017. New listings (39,974) are up 2.2%. Pending sales (28,290) and closed sales (27,786) are down 4.5% for the year so far.

Average and Median Sale Prices

Comparing 2018 to 2017 through November of each year, the average sale price rose 5.6%from$429,000 to $453,100. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.

Thinking of Selling Your Lake Oswego Home?

Now may be the best time to sell your home.  Don't know how much equity you really have or what a price would be to sell your home?  I can help! Give me  a call. Your home may be worth more than you think. 503-804-9685.


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.

I have worked in Lake Oswego as a Real Estate Broker since 1978, have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is still strong 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.'

ALL ABOUT.....Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of Federal copyright law.

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