Is Lake Oswego, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Oswego has remained a Seller's Market.
Key Takeaway
Lake Oswego is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Oswego, OR
How much do homes in Lake Oswego, OR cost?
Median Sold Price
$889,904
$383/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Oswego have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Lake Oswego was $889,904 in May 2024, up 1.9% from last year, and the median price per square foot was $383.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $229.6K | -6.3% |
| 2 Bedrooms | $408K | $395K | -3.2% |
| 3 Bedrooms | $761.5K | $763.9K | 0.3% |
| 4 Bedrooms | $1.1M | $1.2M | +6.6% |
| 5+ Bedrooms | $1.5M | $1.4M | -3.3% |
Summary: Lake Oswego housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 3.3%.
Median Sold Price Compared To Nearby Cities
| Rivergrove | $784.9K | $1.0M | +36.4% |
| Lake Oswego | $873.3K | $889.9K | +1.9% |
| Northwest Clackamas | $620.6K | $625.1K | +0.7% |
| Tualatin | $631.8K | $635K | 0.5% |
| West Linn | $776.7K | $776.4K | 0% |
Housing Supply in Lake Oswego, OR
How many homes are available in Lake Oswego, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 304 | 344 | +13.2% |
Summary: The Lake Oswego real estate market had 344 homes for sale in May 2024, a 13.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 48 | 46 | -4.2% |
| 3 Bedrooms | 87 | 105 | +20.7% |
| 4 Bedrooms | 119 | 133 | +11.8% |
| 5+ Bedrooms | 43 | 51 | +18.6% |
Summary: The Lake Oswego housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 18.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 73 | 58 | -20.5% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Oswego, you may be able to get a good deal. 46.6% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Lake Oswego in May 2024, down by 20.5% month-over-month. Of the 58 sold homes, 47% were sold under asking, 29% were sold at asking, and 24% were sold over asking.
Days on Market for Lake Oswego, OR
How long does it take to sell a home in Lake Oswego, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 34 Days | -2.9% |
Summary: Homes in Lake Oswego had an average of 34 days on market in May 2024, down by 2.9% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Oswego are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 58 homes were sold in Lake Oswego; 72% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.