Lake Oswego & West Linn: July 2013

Lake Oswego/West Linn Stats & Review

Overall the Lake Oswego & West Linn market is a seller’s real estate market.  On the buyer’s side interest rates are still very low with small increases from all time lows.  On the seller’s side overall inventory is extremely low, closed sales are up and marketing time is 88 days.  When the year to year price comparison is up significantly and the average sales price percent change is also up significantly from last year at this time I have to give it a current price trend rating of significantly Appreciating.

Lake Oswego & West Linn’s Average Sales Price Percent Change is +13.3% ending July 2013 compared to Lake Oswego & West Linn’s Average Sales Price Percent Change ending July 2012 was -0.8% or an increase of +14.1% comparatively. 

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (8/1/12- 7/31/13) and compares it to the rolling average sales price of the previous 12 months (8/1/11-7/31/12). 

Lake Oswego & West Linn, Oregon's Current Real Estate Climate When Comparing July’s Results This Year (2013) to Last Year (July 2012), here is what you will find:

The average homeowner's equity increased by $100,300 or  +24.0% of value.
Average Sales Price in July 2013 was $525,300
Average Sales Price in July of 2012 was $425,000
Number of closed sales for the month of July 2013 was 183, up by 53%.
Number of closed sales for July 2012 was 120.
The July 2013 supply of homes stands at 3.1 months, down -44%.
July 2012 supply of homes was 5.5 months.

(The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 88 days.  This statistic is down by -38 days (The July 2012 Total Marketing Time ended at 126 days).

It's important to compare these statistics to the entire Portland Metropolitan area as a whole which includes all of the city of Portland as well as the surrounding suburbs. This will help you to determine how each area is performing.

Portland Metropolitan Area Stats & Review

The current Rolling Price Appreciation/Depreciation percent change is +11.1%, which is an 12.1% increase from -1.0% ending July 2012 .  The current year to year comparison average sales price change from (July 2012- July 2013) is reflecting price increases of 14.0%.  With the Rolling Average Price increasing 12.1%, Average and Median Sales Price both substantially higher from last year (13.8% & 14.3%), supply levels low at 2.8 months, demand up, marketing time down to 63 days (100 days ending July 2012) I have to give it an overall market rating of significantly Appreciating prices.  To establish trend you need to consider the very longer term such as rolling average sale price percent change from year to year but you also need to consider the immediate trend when compared to last year’s same month and in many cases even the previous few months of data.

*This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (8/1/12- 7/31/13) and compares it to the rolling average sales price of the previous 12 months (8/1/11-7/31/12).  In this case the rolling average over the last twelve months is $296,900 and the rolling average of the previous 12 months was $267,200.  You take the rolling average price difference and divide it by previous 12 month rolling average and you get +11.1%.

When comparing July’s results this year 2013 to last year (July 2012) here is what you will find:

The average homeowner's equity increased by $39,500 or 14% of value.
Average Sales Price in July 2013 was $326,500
Average Sales Price in July of 2012 was $287,000
Number of closed sales for the month of July 2013 was 2766
Number of closed sales for the month of July 2012 was 1973
The closed sales ratio reflected an increase of 793 or 40%

The July 2013 supply in the entire Portland Metro area stands at 2.8 months down 1.8 months from last year.
The July 2012 supply in the entire Portland Metro area was 4.6 months, which was down 2.4 months from July 2011’s 7.0  months of inventory.

The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 63 days, which is down -37 days from July 2012’s total market time of 100 days.

Portland Metro Real Estate data comes from the RMLS of Portland, which is the region’s local multiple listing source for real estate listings. If you would like to receive e-mailed reports simply let me know.

2013 Portland Area/Section Reports:

For the most current Portland real estate market recap summary click here.
For the most current Portland real estate statistics summary click here.
For 2012 Portland Area/Section Reports click here.

Add This Page To Your Reading List: