Lake Oswego Real Estate Market Update:
The Lake Oswego real estate market numbers have greatly transitioned over the last year. Here is the year over year Lake Oswego real estate market figures for the calendar year of 2014 vs. 2015. The number of transactions overall went up by over 5% and the volume sold increased by almost 13.5% between the two years.
How much do Lake Oswego homes cost on average?
The average price of Lake Oswego homes sold in 2015, $699,932, is over 8% higher than the average price of homes sold in 2014, $648,035. The median price of Lake Oswego homes sold in 2015 is $585,000 which is over 10% higher than LO homes sold in 2014 which had a median sales price of $530,000. The median sales price is extremely important to consider when looking at the Lake Oswego real estate market overall.
What will 2016 Lake Oswego Real Estate Numbers Look Like?
Looking at the median sales prices for January, it is easy to get a picture of what 2016 could pencil out at. Let’s look at the other factors of the Lake Oswego real estate market first: Inventory is pretty steady, and after dropping the prior year, volume has increased back up to the 2014 level. The average price of Lake Oswego homes sold in January is somewhat deceiving due to a couple out of the norm numbers, so we need to look at the Lake Oswego median sales price to get rid of the one off anomalies in the market. Remember this is for RMLS data only. The median sales price of Lake Oswego homes sold this January is almost 15% higher than the same time last year. This is huge. That is in addition to the year before which was about 9% higher in price. Lake Oswego is looking good! Please let us know if you are interested in Lake Oswego homes for sale. LO@CooperJacobsPDX.com You can also call or text 503-853-5506 for more info.
These numbers are all from the RMLS and include Lake Oswego condos and single family residential listings in Lake Oswego.