The Lake Oswego real estate market finished August with 96 closed sales, which is between the 118 & 95 closed sales recorded during the prior months of June and July respectively. Of the 96 closed sales in August, none were distressed properties (foreclosures/short sales) representing 0% of the closed sales for the month. As of today, distressed properties accounted for less than 1% of the active listing inventory. There were 68 closed sales of homes valued at $500K or more during August and a total of 217 over the three month period of June – August.
The inventory level is lowest in the $251-500K price bracket at 1.6 months and overall it is at 2.9 months worth across all price brackets based solely on the August closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 2.7 months worth across all price brackets.
The average sold price in August was $785K which is an increase of $2K, compared to $783K in July. Meanwhile, the median sold price in August decreased to $685K, down from $700K the prior month. The average price of the active listings was $1,141K while the median price was $846K as of today.