The Lake Oswego real estate market finished October with 77 closed sales, which is between the 100 & 71 closed sales recorded during the prior months of August and September respectively. Of the 77 closed sales in October, 1 was a distressed property (foreclosures/short sales) representing 1% of the closed sales for the month. As of today, distressed properties accounted for 2% of the active listing inventory. There were 49 closed sales of homes valued at $500K or more during October and a total of 169 over the three month period of August – October.
The inventory level is lowest in the $251-500K price bracket at 1.2 months and overall it is at 3.2 months worth across all price brackets based solely on the October closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases slightly to 3.0 months worth across all price brackets.
The average sold price in October was $760K which is a decrease of $3K, compared to $763K in September. Meanwhile, the median sold price in October decreased to $589K, down from $620K the prior month. The average price of the active listings was $1,103K while the median price was $837K as of today.