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2019-08-09 16:10:13
Luxury Home Sales In Lake Oswego Over $1M

In 1978, when I first started selling real estate in the Portland metro real estate market, my first sale was $14,000 for a house and I sold a $3,000 vacant lot.  I remember that the word $1M was never even in our vocabulary.  It was unheard of that there was a property listed for sale at $1M.  However, sometime later, and I think in the mid 1980s, a colleague of mine sold a $1M property at the coast - it was a golf course.  We had a big party to celebrate her success.  I still remember which golf course and when I drive by it I think of her. After that it took a VERY long time to see another $1M property for sale. For anyone who does not believe that real estate is a good investment, remember this!

Lake Oswego Luxury Housing Market

Recently, I have watching all the properties for sale in the luxury home market in Lake Oswego.  We have a 24/7 'hot sheet' in our RMLS™ as properties get listed/pending/sold they show up immediately on that search.  There continuously seem to be homes coming on the market for $1M++ in Lake Oswego.  I decided to do a search to see exactly how many are currently for sale, how many are pending and how many have sold in 2018 vs. 2019 YTD.

2018 Luxury Homes Sold In Lake Oswego $1M+

bettyjung.com

There were 118 houses sold from January 1, 2018 to August 9, 2018.

Houses sold for 96.42% of the original list price and took an average 101 days on the market to sell. The average sold price in 2018 YTD was $1,509.342.

2019 Luxury Homes Sold In Lake Oswego $1M+

bettyjung.comThere have been 108 sold so far this year from January 1, 2019 to August 9, 2019 YTD.

Houses sold for 94.212% of the original list price and took an average 154 days on the market to sell. The average sold price in 2019 YTD is $1,407,500.

Luxury Home Market Lake Oswego

There has been a softening in prices and a slow-down in this segment of the Lake Oswego real estate market.  It is still a sellers' market even in this price range.  However, houses $1M+ are taking longer to sell, and selling for less than asking price compared to 2018.  I will keep watch on this and will try to remember to do an end-of-year post on these stats.

Frankly I am not surprised.  There currently is The highest price for a home in Lake Oswego is currently $6,888,000. I remember when there were houses listed for even higher than the current max on the market today.

Want a home in the $1M+ price range.  You can view the active listings here.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are low and there is still buyer demand. 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.  Or check out my 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

 

 
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2019-08-15 15:58:55
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2019-08-09 16:10:13
Luxury Home Sales In Lake Oswego Over $1M

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