The Lake Oswego real estate market finished April with 108 closed sales, which is up from the 60 & 89 closed sales recorded during the prior months of February and March respectively. Of the 108 closed sales in April, 7 were distressed properties (foreclosures/short sales) representing just 7% of the closed sales for the month. As of the end of April, distressed properties accounted for 11% of the active listing inventory. There were 48 closed sales of homes valued at $500K or more during April and a total of 108 over the three month period of February – April.
The inventory level is lowest in the $251-500K price bracket at 1.0 months and overall it is at 2.0 months worth across all price brackets based solely on the April closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 2.5 months worth across all price brackets.
The average sold price in April was $533K which is an increase of $24K, compared to $509K in March. Meanwhile, the median sold price in April increased to $475K, up from $450K the prior month. The average price of the active listings was $1,022K as of the end of April while the median price for the active listings was $752K during the same period.