Lake Oswego Homes Priced Highest In Portland Metro And Take Longer To Sell
(Newswire.net --February 3, 2013) Portland, OR -- Lake Oswego Homes hit the top of the RMLS (Regional Multiple Listing Service) Charts in December, 2012. The RMLS reports on real estate statistics for the Portland Metropolitan Area. This review noted that "the Portland real estate market ended a remarkable year with mixed results in December. Closed sales at 1,760 were higher than the previous December’s 1,612 by 9.2%, while pending sales were 4.1% under the 1,443 accepted offers in the same month of the prior year." Dan Crider, a Lake Oswego Realtor with the Premiere Property Group, told us that he thought the key metric in this report was the Inventory in Months. This number fell from 7 months at the beginning of 2012 to 3.6 months at year's end. Crider said that "a seller favored market is usually indicated by less than a 5 month inventory level and that this is further confirmed as a seller's market by the increase in average price."
Lake Oswego Homes lead in two categories. Average selling price topped $500,000 and the time on market was 157 days as of the end of 2012. The total market time in the Portland Metro reporting area was 112 days.
Crider also pointed out that "the average price increase and the improved number of sales has resulted in a healthy increase in the total dollar volume of sales, which rose to $6.45 billion in 2012 from $5.2 billion in 2011 and $5.3 billion in 2010 in the Portland market. Of that total $436,000 was in the Lake Oswego home market."
Seller's or Buyer's need accurate and current market information. There are a number of resources on the internet for this detail. The real estate market is best understood as a local or neighborhood market. Crider explained "the national market really does not affect the local activity. Local activity is best understood by looking at the employment, consumer confidence and availability of homes within the neighborhood." Schools, shopping and transportation play a role in the desirability and consequently the affordability of the property. These factors explain the desirability of Lake Oswego homes. An excellent resource for this type of information is free at http://www.findahomeinportland.com/micommunity.
For further information please contact:
Premiere Property Group
Lake Oswego, OR 97035
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