Our RMLS™ stats are one month behind.  So, this week sometime, we will have the September RMLS™ Market Action Report published.

The most recent report is data for August 2011.

What’s Selling In Lake Oswego Real Estate?

Surprisingly, from the RMLS™ data below,houses over $400,000 saw the most sales in August 2011 in Lake Oswego.  However, Lake Oswego houses priced over $500,000 sold at an even greater number.

With housing prices in Lake Oswego falling, thus making it more affordable, you’d think the houses under $400,000 would be selling at a rapid pace when in fact that wasn’t the case in August 2011.

This graph however is for the combined Lake Oswego and West Linn real estate markets and not just for Lake Oswego.

Average Price vs. Median Price

In August 2011, the average sold price for a home in Lake Oswego was $427,100 while the median sold price was $370,000. In August, Lake Oswego still had an inventory of 7 months of houses for sale, which makes it a buyers’ market during August.  And, 4 or more bedrooms were the most popular.

Financing In Lake Oswego

Good old conventional financing was still the chosen form of buying a Lake Oswego Home. Only 13 buyers paid cash compared to 30 who obtained conventional financing.  With interest rates at all-time lows, it is no wonder savvy Lake Oswego homebuyers are purchasing with conventional loans.

INTERESTED IN KNOWING WHAT’S SELLING IN YOUR NEIGHBORHOOD?

Interested in knowing more about sale prices in your neighborhood?  Thinking of buying a Lake Oswego home or perhaps selling your home in Lake Oswego soon?

Send me an email at betty(at)bettyjung.com and I can send you the information or give me a call at 503-804-9685 for information specific to your Lake Oswego home.

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.

The information below is data specifically for the Lake Oswego and West Linn real estate markets.  This report is developed monthly and is based on information from our RMLS™for the month of September 2011.

For the Portland real estate market, I have posted those stats on my ALL ABOUT…..Portland.Oregon.Real Estate blog.

Lake Oswego And West Linn Real Estate: RE/MAX Housing Report September 2011

The RE/MAX Housing Report represents residential properties only in RMLS™ area 147 which includes Lake Oswego and West Linn. The months supply of inventory is calculated by dividing the number of properties for sale on the last day of the month by the number of properties that went under contract that month.

Lake Oswego And West Linn Real Estate Median Sales Prices Reach Highest Levels

According to statistics from the Regional Multiple Listing Service (RMLS™), the median sales price bounced back more than 19% in September as compared to August for the West Linn and Lake Oswego real estate markets.

The median sales price of $435,000 in September 2011 for Lake Oswego and West Linn real estate, was the highest the median sales price has been since September 2009, when it was $435,346. September’s figure is also the second time in three months that the median sales price has climbed above $400,000.

Lake Oswego And West Linn Inventory For Sale Falls To New Two Year Lows

One reason sales prices are rising is that there are fewer homes available for sale in Lake Oswego and West Linn. The number of homes for sale on the last day of September fell more than 7% as compared to the last day of August. The number of homes for sale in September 2011 was down more than 30% from last year.

LAke Oswego And West Linn Real Estate – Months Supply of Inventory Under Contract

The Lake Oswego and West Linn real estate markets are still buyers’ markets although there have been signs of improvement.  The inventory of homes for sale in Lake Oswego and West Linn also fell to a two-year low dropping to 7.1 months.

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.