The Lake Oswego real estate market finished March with 66 closed sales, which is up from the 57 & 42 closed sales recorded during the prior months of January and February respectively. Of the 66 closed sales in March, 3 were distressed properties (foreclosures/short sales) representing 5% of the closed sales for the month. As of the end of March, distressed properties accounted for 3% of the active listing inventory. There were 40 closed sales of homes valued at $500K or more during March and a total of 97 over the three month period of January – March.
The inventory level is lowest in the up to $250K price bracket at 0.7 months and overall it is at 2.8 months worth across all price brackets based solely on the March Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 3.3 months worth across all price brackets.
The average sold price in March was $634K which is a decrease of $94K, compared to $728K in February. Meanwhile, the median sold price in March decreased to $586K, down from $610K the prior month. The average price of the active listings was $1,284K as of the end of March while the median price for the active listings was $891K during the same period.
New real estate listings in Lake Oswego (last 3 days):