Happy Springtime to our Property Blotter readers! In our look at activity during the month of March we see a general pattern of a lowering or slight increase over last year during the same month, and a big increase over the prior month/Feb of 2018 in most all areas.
Here is your look at the most recent data for the entire Portland area and how Lake Oswego fits in to this picture just below:
- According to the RMLS Market Action Report for the Portland Metro Area, March, 2018:
- There were 3,648 New Listings in March 2018 which was up 1.2% from March of 2017’s 3,604, and up a whopping 44.2% from the previous month/Feb of 2018’s total of 2,530.
- At 2,371, March Closed Sales were down 4.9% from March 2017’s 2,494, and up a whopping 31.3% from the previous month/Feb 2018’s total of 1,806.
- March’s Pending Sales (accepted offers), at 2,894 dropped 4.9% from March of 2017’s 3,043, and increased another whopping 23.8% from the previous month/Feb 2018’s total of 2,337
- The Average Sale Price in March of $445,900 was up $17,500 from March 2017’s $428,400, and also up from February 2018’s $441,900 by $4,000.
Neighborhoods: March’s Average Sale Price + 12-month Appreciation :
- North Portland: $438,700 6.6% (Feb 418,000)
- NE Portland: $478,900 7.3% (Feb 462,400)
- SE Portland: $418,600 8.4% (Feb 418,700)
- Gresham/Troutdale: $356,400 12.0% (Feb 339,400)
- Milwaukie/Clackamas: $423,400 9.4% (Feb 406,100)
- Oregon City/Canby: $396,500 6.0% (Feb 381,200)
- Lake Oswego/West Linn:$631,100 6.1% (Feb 706,400)
- West Portland: $597,200 3.1% (Feb 602,500)
- NW Wash County: $550,200 7.5% (Feb 540,100)
- Beaverton/Aloha: $386,000 9.1% (Feb 380,500)
- Tigard/Wilsonville: $456,700 7.4% (Feb 443,600)
- Hillsboro/Forest Grove: $403,800 9.9% (Feb 384,600)
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of March 2018 reported:
-
- 306 Active Listings (Feb 296)
- 225 New Listings (Feb 158)
- 188 Pending Sales (Feb 120)
- 117 Closed Sales (Feb 92)
- Average Sale Price for Feb: $631,100 (Feb 706,400)
- 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.
- 82 Average Days on the Market (Feb 107)