Homes for Sale in Lake Oswego Market Report May 2013
Breaking Lake Oswego Real Estate News:
"PMAR [Portland Metro Area Realtors®] successfully defeated adoption of proposed modifications to the City of Lake Oswego municipal code requiring permits for use of a temporary For Sale sign on residential rental properties. As originally submitted for City Council's consideration, additional language would have required citizens to purchase a permit in order to be allowed to place a For Sale sign on their private property that happens to be multi-family (i.e. duplex, triplex, etc.). At its June 4th meeting, City Council unanimously adopted an ordinance that included PMAR's recommendation to continue to exempt such properties from a sign permit requirement when the entire property is for sale."
Homes for Sale in Lake Oswego Market Report May 2013
|
May 2013 Real Estate Market Report Lake Oswego, OR EBA Portland, LLC |
April 2013 | March 2013 | Feb 2013 | Y-T-D | |
| Active Listings | 480 | 466 | 435 | -- | |
| New Listings | 252 | 252 | 183 | 1,031 | |
| Pending Sales | 188 | 160 | 154 | 733 | |
| Closed Sales | 154 | 113 | 125 | 566 | |
| Average DOM | 108 | 118 | 120 | -- | |
| Average Sale Price | $446,300 | $448,600 | $494,900 | $474,700 | |
| Months of Inventory | 3.1 | 4.1 | 3.5 | -- |
May 2013 Looking at the Homes for Sale Lake Oswego Real Estate Market Report
The inventory in May for the Lake Oswego Real Estate market has improved slightly over April's numbers. While the OVERALL market in Portland Meto has dropped to 2.5 months of inventory, homes for sale in Lake Oswego has followed suit, to a degree, dropping a month of supply since last month's report. The Lake Oswego real estate market is one of the most affluent in the area, overall, and it's nice to see the average sales price on Homes for Sale in Lake Oswego dropping a little -- Hey, I'm a Buyers Broker, what do you expect? Lake Oswego real estate market has also had a small decline in the average sale price -- also a good trend this Exclusive Buyers Agent likes to see.
How Does The Current Lake Oswego Real Estate Market Compare to Portland Metro?
The chart to the left is for the current Portland Metro real estate market, showing an Absorption rate of 2.5 Months. This is the OVERALL Portland Metro real estate market, of which Lake Oswego is comprised. Good to see that the homes for sale in Lake Oswego is doing a little better than the overall Portland Metro market.
How is the Inventory / Absorption Rate Obtained For Lake Oswego Real Estate?
Absorption rate, or Month of Inventory, is equated by taking the current total of listings on the market per the given month, and dividing the number of closed sales during that month. The quotient is the estimated number of months it would take to clear out the current level of inventory.
Comments(3)