Lake Oswego & West Linn: December 2012

Lake Oswego/West Linn Stats & Review

Overall the Lake Oswego & West Linn market is a neutral real estate market.  On the buyer’s side interest rates are at all time lows and the average market time is neutral at 157 days.  On the seller’s side overall inventory is low and average sales price percent change is up.  When the year to year price comparison up this much and the average sales price percent change is up from last year at this time I have to give it a current price trend rating of Appreciating.

Lake Oswego & West Linn’s Average Sales Price Percent Change is +1.5% ending December 2012 compared to Lake Oswego & West Linn’s Average Sales Price Percent Change ending December 2011 was -1.4% or an increase of 2.9% 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 (1/1/12- 12/31/12) and compares it to the rolling average sales price of the previous 12 months (1/1/11-12/31/11). 

Lake Oswego & West Linn, Oregon's Current Real Estate Climate When comparing December’s results this year, (2012) to last year (December 2011) here is what you will find:

The average homeowner's equity increased by $56,000 or  +12.2% of value.
Average Sales Price in December 2012 was $512,000
Average Sales Price in December of 2011 was $456,000
Number of closed sales for the month of December was 108, up by 4%.
Number of closed sales for December 2011 was 104.
The December 2012 supply of homes stands at 4.1 months, down 30%.
December 2011 supply of homes was 5.8 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 157 days.  This statistic is down by 9 days (The December 2011 Total Marketing Time ended at 166 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.

City of Portland and All the Surrounding Suburbs Current Real Estate Climate:


The current Rolling Price Appreciation/Depreciation percent change is +4.4%, which is a 11.1% increase from -6.7% ending December 2011 .  The current year to year comparison average price change from (December 2011- December 2012) prices are up 11.3%.  With the Rolling Average Price increasing 11.1%, Average and Median Sales Price both substantially higher from last year (11.3% & 14.5%), supply levels low at 3.6 months, demand up, marketing time down to 111 days (142 days ending December 2011) I have to give it an overall market rating of 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 (1/1/12- 12/31/12) and compares it to the rolling average sales price of the previous 12 months (1/1/11-12/31/11).  In this case the rolling average over the last twelve months is $275,000 and the rolling average of the previous 12 months was $263,300.  You take the rolling average price difference and divide it by previous 12 month rolling average and you get +4.4%.

When comparing December’s results this year 2012 to last year (December 2011) here is what you will find:

The average homeowner's equity increased by $29,400 or 11.3% of value.
Average Sales Price in December 2012 was $290,200
Average Sales Price in December of 2011 was $260,800
Number of closed sales for the month of December 2012 was 1760
Number of closed sales for the month of December 2011 was 1612
The closed sales ratio reflected an increase of 148 or 9.2%

The December 2012 supply in the entire Portland Metro area stands at 3.6 months down 1.7 months from last year.
The December 2011 supply in the entire Portland Metro area was 5.3 months, which was down 2.6 months from December 2010’s 7.9 months.

The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 111 days, which is down 31 days from December 2011’s total market time of 142 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.

2012 Portland Area/Section Reports:

Portland & All Surrounding Suburbs Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Northwest and Southwest Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Southeast Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Northeast Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
North Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Beaverton/Aloha Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Hillsboro/Cornelius/Forest Grove Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Gresham/Troutdale/Corbett Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Milwaukie/Clackamas/Happy Valley Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Oregon City/Canby Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Lake Oswego/West Linn Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Tigard/Tualatin/Wilsonville Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
NW Washington County Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

For the most current Portland real estate market recap summary click here.
For the most current Portland real estate statistics summary click here.

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