Portland Metro Real-Estate Market Update.

As we step into November, our local Lake Oswego Real Estate market continues to show real resilience — even as the broader economy in Portland remains mixed.

• Inventory has stabilized over the past few months. We’re not seeing the sharp swings we had earlier in the year, which gives both buyers and sellers a clearer picture of where things stand.  Having said this, inventory has stayed stable at 3.5 to 4 months on hand. This level of inventory is trending closer to a balanced market, which is healthier for both Buyers and Sellers.
• The biggest wild card remains interest rates. Small changes here can quickly influence how active buyers are — and how confident sellers feel about listing. Current rates are sitting at about 6.5%, which marks over 24 months of record-high interest rates compared to the previous two decades.
• Finally, pricing is everything right now. Homes that are positioned correctly are still moving — sometimes within days. Overpricing, on the other hand, leads to longer market time and price reductions.

Quick Lake Oswego Real Estate Stats

1. Our median sales price year-to-date is $1,125,000, compared to $ $1,133,265 last year – down 0.7% (detached single-family in Lake Oswego)
2. Unit sales are up 3% YTD; current inventory is flat.
3. Sales price to list price ratio is 97% YTD. Sales price to original list price is 92% – pricing is critical.

For more Lake Oswego Real Estate info, click HERE or find your neighborhood HERE. 

If you missed last month’s Market Recap, check it out HERE

If you’re curious what this might mean for you. Please reach out. I’m happy to help.