Lake Oswego Real Estate Market Update
Lake Oswego is located about 30 minutes south of downtown Portland depending on traffic nestled between Interstate 205 and Interstate 5 on the west side of the Willamette River. The entire town surrounds Oswego Lake and it's home to about 36,000 residents.
On average there are about 150 to 200 properties for sale throughout Lake Oswego with the median sale price of about $490,000. The average home price is about $534,000 and the median days on the market are between 65 and 85 days. The median list price is about $788,000 as this is skewed by many luxury waterfront homes and estates the can range well over two to $3 million. The median house size is about 3100 ft.² and the median price per square foot is about $275, up 23% over last year.
Home prices in Lake Oswego have been increasing dramatically over the last two years and most of the homes are well out of the pre-recession prices. There are very few homes currently still underwater, meaning the homeowners owe more than it's worth.
There are a few townhouses in condominium buildings in Lake Oswego as well with the median list price of about $275,000. In all there are roughly 20 to 30 properties in the multifamily property category for sale at any one time. The median condo size is about 1200 ft.² with the median days on the market of about 55 to 60 days.
There are several lots and parcels of land for sale that could be priced under $200,000 but they are somewhat rare. Prices usually start about $200,000 to over $6 million based on size, condition, location and lot size. Even though there is a downtown Lake Oswego, the majority of the entire area is residential.
The following statistics are current and up-to-date each day and show the top 20 new listings on the market, pending sales and the most recent 20 properties that are sold in the last three months. If you're selling your home this gives you a good snapshot as to what the homes sold for and how long it took to sell. For buyers, it gives you a good idea of a simple list of properties for sale starting with the newest homes on the market.
If you'd like more information on any of these units, homes for sale or lots please contact my office today and be sure to check back as this page is consistently updated each day with new reports. (The above image is from an actual MLS Listing for Lake Oswego. )