The Lake Oswego real estate market finished September with 96 closed sales, which is between the 104 & 95 closed sales recorded during the prior months of July and August respectively. Of the 96 closed sales in September, 4 were distressed properties (foreclosures/short sales) representing 4% of the closed sales for the month. As of today, distressed properties accounted for 2.5% of the active listing inventory. There were 57 closed sales of homes valued at $500K or more during September and a total of 195 over the three month period of July – September.

The inventory level is lowest in the up to $250K price bracket at 1.5 months and overall it is at 3.3 months worth across all price brackets based solely on the September Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture remains at 3.3 months worth across all price brackets.

The average sold price in September was $650K which is a decrease of $174K, compared to $824K in August. Meanwhile, the median sold price in September decreased to $548K, down from $651K the prior month. The average price of the active listings was $1,039K while the median price was $800K as of today.

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