Here is your look at the greater Portland area calculated for the previous month with Lake Oswego broken out at the bottom. ***Be sure to check out the Neighborhoods Report below which categorizes into smaller pieces.
We are up in all categories from April to May- New Listings, Pending Sales, Closed Sales and Average & Median Prices. Inventory is up as well & Market-Time decreased by 7 to 55 days. The Gresham area still leads the way with affordability & appreciation. The biggest jump in Average price from April to May occurred in: NE Portland (by $58,000), & the biggest drops were in NW Wash County (by $103,200) & Lake Oswego/W Linn (by $82,100) and/but both of those areas, particularly Lake Oswego, have a wide range of home price levels to average out.
Rates: “The worries over increasing inflation have hung over markets for three months yet both CPI and the PCE inflation gauges have been relatively unchanged. The 30 yr fixed is hovering in the 7.0% to 7.25% range.” Gretchen Russell, Senior Mortgage Consultant, Two Rivers Mortgage.
According to the RMLS Market Action Report for the Portland Metro Area May 2025:
- There were 3,651 New Listings in May which increased 4.1% from the 3,508 in May 2024 and also increased 8.7% from the 3,358 in the previous month/April.
- At 2,018 May 2025’s Closed Sales (Solds) are down 5.7% from May 2024’s 2,140 and up 7.3% from the previous month’s total of 1,880.
- At 2,299 May’s Pending Sales (Accepted Offers) are down 2.7% from May 2024’s 2,363, and up a are up 3.3% from the previous month/April’s total of 2,225.
- The Average Sale Price for May 2025 of, $624,100 is down $8,000. from last year/May 2024’s $629,000, and up a whopping $7,300 from the previous month/April’s $616,7000.
- The “Median Sale Price (the price smack dab in the middle of all sales) in May 2025 of $569,500 is up $11,000 from May 2024’s $558,500, and up $19,500 from the previous month’s $550,000.
LAKE OSWEGO: (Month of May ’25)
411 Active Listings (Apr 337)
216 New Listings (Apr 202)
110 Pending Sales (Apr 99)
108 Closed Sales (Apr 94)
Average Sale Price for May: $941,700 (Apr $1,023,800)
NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month. Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
60 Days on the Market (Apr 63)
The data listed above is as reported by the Regional Multiple Listing Service (RMLS)