The Lake Oswego real estate market finished June with 100 closed sales, which continues an upward trend from the 75 & 68 closed sales recorded during the prior months of May and April respectively. Of the 100 closed sales in June, 19 were distressed properties (foreclosures/short sales) representing 19% of the closed sales for the month. As of the end of June, distressed properties accounted for 21% of the active listing inventory. There were 36 closed sales of homes valued at $500K or more during June and a total of 79 over the three month period of April – June.
The inventory level is lowest in the $251-500K price bracket at only 2.5 months and overall it is at 3.7 months worth across all price brackets based solely on the June closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 4.6 months worth across all price brackets.
The average sold price in June was $467K which is a decrease of $68K, compared to $535K in May. Meanwhile, the median sold price in June decreased to $380K, down from $390K the prior month. The average price of the active listings was $785K as of the end of June while the median price for the active listings was $552K during the same period.
New real estate listings in Lake Oswego (last 7 days):