Is Lake Oswego, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lake Oswego was a Seller's Market.
Key Takeaway
Lake Oswego is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake Oswego, OR
How much do homes in Lake Oswego, OR cost?
Median Sold Price
$883,000
$389/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lake Oswego have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Lake Oswego was $883,000 in March 2024, up 2.4% from last year, and the median price per square foot was $389.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $238.1K | $230K | -3.4% |
| 2 Bedrooms | $385K | $410K | +6.5% |
| 3 Bedrooms | $775K | $754.3K | -2.7% |
| 4 Bedrooms | $1.2M | $1.2M | +3.3% |
| 5+ Bedrooms | $1.3M | $1.7M | +26.7% |
Summary: Lake Oswego housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.4%, 2 bedroom homes increased by 6.5%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 26.7%.
Median Sold Price Compared To Nearby Cities
| West Linn | $766.1K | $798.5K | +4.2% |
| Lake Oswego | $862.5K | $883K | +2.4% |
| Northwest Clackamas | $620.9K | $625.1K | +0.7% |
| Tualatin | $633.5K | $633.7K | 0.0% |
Housing Supply in Lake Oswego, OR
How many homes are available in Lake Oswego, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 379 | 429 | +13.2% |
Summary: The Lake Oswego real estate market had 429 homes for sale in March 2024, a 13.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 11 | +10.0% |
| 2 Bedrooms | 37 | 44 | +18.9% |
| 3 Bedrooms | 114 | 124 | +8.8% |
| 4 Bedrooms | 153 | 176 | +15.0% |
| 5+ Bedrooms | 65 | 74 | +13.8% |
Summary: The Lake Oswego housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 18.9%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 13.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 45 | +45.2% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
13 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. 53.3% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Lake Oswego in March 2024, up by 45.2% month-over-month. Of the 45 sold homes, 53% were sold under asking, 18% were sold at asking, and 29% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 30 Days | -35.0% |
Summary: Homes in Lake Oswego had an average of 30 days on market in Mar 2024, down by 35% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 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 March 2024, 45 homes were sold in Lake Oswego; 76% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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