Lake Oswego Real Estate Luxury Home Sales
| Lake Oswego Real Estate Luxury Homes Sales
Q1 January 1-April 30 $600,000++++ |
2008 | 2009 | 2010 | 2011 |
| # Houses Sold | 60 | 21 | 32 | 36 |
| % of Original List Price vs. Sold Price | 92.04% | 88.8% | 86.06% | 89.65% |
| High Sale Price | $3,150,000 | $2,650,000 | $6,150,000 | $1,900,000 |
| Low Sale Price | $600,000 | $600,000 | $605,000 | $615,000 |
| Avg. $ Sq. Ft. Sold | $279 | $271 | $195 | $230 |
| Total Days On Market | 279 | 245 | 256 | 227 |
| Average Sq. Ft. | 3579 | 3563 | 3969 | 3837 |
| Copyright Betty Jung 2011 | ||||
| Source: RMLS™ |
The Lake Oswego real estate luxury home sales over $600,000 haven’t decreased in dollar amount as much as I thought they had. In fact, the Lake Oswego luxury homes, the high-end sales, were better than the rest of the residential real estate market for all of Lake Oswego over the time periods posted above.
Lake Oswego Real Estate
Overall, Lake Oswego’s real estate market, compared to the rest of the metro areas of Portland over the past several years, has seen a large amount of inventory unsold, large price decreases, and lower % of original list price vs. sale prices than the rest of the real estate markets in our metro areas. The Portland real estate market, inner city neighborhoods, have fared better than the suburbs and in particular Lake Oswego, going back to the peak of the housing market.
However, in comparing the years above, 2011 seems to have started on an upswing for the luxury real estate market in Lake Oswego with days on the market lower than all the other years compared, an increase in average sq. ft. dollar amount compared to 2010 and prices have held better for Lake Oswego’s high-end homes this year compared to 2009 and 2010.
Oregon Unemployemnt
There are signs the economy is getting better. Just the other day, Oregon’s unemployment dropped to a single digit of 9.6% for April 2011 and the unemployment numbers haven’t been this low in Oregon since December 2008.
When the high-end market starts spending money, they say it is a good sign the economy is improving. If the malls and restaurants are any indication, I can vouch that those establishment have been packed.
Has the high-end Lake Oswego market already hit bottom? With the luxury home sales in Lake Oswego starting to increase, do you think now might be the time to purchase that home of your dreams? If you’re looking for a luxury Lake Oswego home, click here to start your search then give me a call at 503-804-9685.
ALL ABOUT…..Lake Oswego Real Estate. © Copyright 2008-2011. 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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