52 Reasons to Love Lake Oswego

One question we’re always asked once people learn we’re Realtors is, “What’s the Lake Oswego housing market like these days?” Right now, we’d describe it as adjusting. Buyers and sellers are navigating a market that looks different from the fast-paced, multiple-offer environment of recent years.

This week, we’re looking at what sellers need to know. Next week’s blog will focus on buyers.

Sellers: Your First Week Still Matters

There’s an old real estate rule of thumb: If your house doesn’t sell in the first seven days, something is wrong. That’s too simplistic for today’s market. A home can take several weeks to sell and still have a successful outcome. But the first week offers valuable feedback on your pricing and presentation.

Here’s what sellers should watch for:

• Few or no showings? Revisit your asking price, listing photos and online presentation. Are you competitive with similar homes?
• Showings but no offers? Ask for honest feedback. Buyers may see issues with condition, layout or price.
• Offers below asking? Evaluate comparable sales and offer terms. A thoughtful counteroffer may bring you closer to an agreement.
• A competing home sells while yours sits? Compare its price, condition and presentation with yours.

Don’t automatically lower your price after seven days, but don’t ignore the feedback. Review activity with your Realtor and agree on a plan, whether that means improving presentation, addressing repairs, adjusting the price or allowing more time.

The goal isn’t to sell in seven days at any cost. It’s to recognize early when something needs to change.

What Impact Are Higher Mortgage Rates Having?

Higher borrowing costs put homeownership out of reach for some first-time buyers. Others must lower their price range, increase their down payment or postpone buying.

The effects ripple through the market. When a first-time buyer can’t afford a starter home, its owner may be unable to move into a larger house. That move-up buyer stays put, too, potentially delaying another transaction.

Lake Oswego also faces mortgage-rate lock-in. Homeowners with rates around 3% may hesitate to sell and take on a significantly higher mortgage, even if they have substantial equity.

The result? Buyers face affordability challenges while some existing homeowners are reluctant to give up their low rates.

Where’s the Good News?

The latest Lake Oswego statistics offer encouraging news for sellers:

• September home sales (64) increased 45% compared with September 2025 (44)
• Year-to-date home sales are up 8% at 515, comparing January through September with the same period last year which stood at 479.
• The median sale price for September of 2026 increased 9% year over year from $947,500 to $1,030,000.

Together, these figures point to stronger sales activity and a higher median sale price. That’s good news for sellers, although individual results still depend on price range, location, condition and competition.

The takeaway: The Lake Oswego market is adjusting, but sellers still have opportunities. Success starts with understanding the numbers and pricing for today’s buyer—not the market of three years ago.

Next week, we’ll explore the other side of this changing market: why buyers may have more negotiating power, how to recognize an opportunity, and why waiting for the perfect time to buy isn’t always the best strategy.

In the meantime, if you have questions about moving to Lake Oswego or selling your home, please reach out. We’re here to help you make informed decisions.

Kevin Costello
kevin.costello@cascadehasson.com | 503.939.9801

Riley Costello
riley.costello@cascadehasson.com | 971.322.6205

If you’ve been following the Lake Oswego real estate market, you may have noticed something interesting: while the market as a whole has become more balanced, not all homes are created equal. Some properties are still attracting multiple offers within days, while others linger on the market for weeks or even months.

So what’s the difference?

It comes down to understanding what today’s buyers want—and pricing accordingly.

Single-Level Living Is More Popular Than Ever

If I had to identify the hottest segment of the Lake Oswego market right now, it would be updated single-level homes, particularly those in the 2,000 to 2,500 square-foot range.

These homes consistently generate strong interest and often receive multiple offers.

Why? Because they check so many boxes for one of Lake Oswego’s fastest-growing buyer groups.

Many people relocating to Lake Oswego are empty nesters or retirees who love the idea of staying in a beautiful home without having to navigate stairs every day. Others simply recognize that buying a home they can comfortably live in for years to come is a smart long-term investment.

The result? Buyers are often willing to pay a premium for the right home.

Updated Homes Have an Even Bigger Advantage

It’s not just the floor plan that matters.

An updated single-level home is even more desirable.

Today’s buyers are busy. Many are relocating from out of state, downsizing from a larger home, or simply don’t have the time, energy, or desire to tackle remodeling projects. Rising construction costs, longer contractor timelines, and uncertainty around renovation expenses have made move-in-ready homes especially attractive.

A beautifully updated kitchen, modern bathrooms, fresh finishes, and quality landscaping can dramatically increase buyer interest because people want a home they can enjoy immediately.

Another Floor Plan Buyers Are Seeking

While single-level homes continue to attract significant attention, there’s another layout that consistently stands out in today’s Lake Oswego market.

Homes featuring:

• Four bedrooms on the upper level
• A dedicated office or flex room on the main floor
• Open-concept living spaces
• Kitchens that flow into the main living area
• Easy indoor-outdoor living

…continue to generate strong buyer interest.

This layout offers tremendous flexibility. A main-level office provides a quiet workspace for those who work remotely, while having the bedrooms grouped together upstairs creates separation between living and private spaces. It’s a floor plan that accommodates a wide variety of lifestyles and continues to be one of the most requested configurations among today’s buyers.

The Right Price Still Matters

Even in highly desirable neighborhoods, buyers won’t overlook an overpriced home.

One of the biggest mistakes sellers make is assuming that because certain homes are selling quickly, every home will.

The reality is that condition, updates, location, floor plan, and pricing all work together.

If your home needs cosmetic updates or hasn’t been renovated recently, pricing becomes even more important. Buyers today are savvy. They compare homes online before ever stepping through the front door, and they quickly recognize when a home is priced above what the market is willing to pay.

Sometimes the best strategy isn’t pricing at the very top of the market—it’s pricing strategically to create excitement, maximize showings, and encourage multiple offers.

A Recent Example

We were recently involved in a competitive multiple-offer situation on one of these highly desirable homes. It was a reminder that while headlines often talk about a “balanced market,” buyers are still competing aggressively for the right property.

The difference isn’t that every home is receiving multiple offers.

It’s that the best homes are.

That’s why understanding buyer behavior is so important.

Why We Encourage Buyers to Pursue Desirable Homes

One piece of advice we often give buyers surprises people:

Don’t be afraid to write an offer on the house everyone else wants.

At first glance, that may sound counterintuitive. Why compete?

Because exceptional homes tend to remain exceptional.

A well-located, thoughtfully designed home with timeless appeal doesn’t just attract buyers today—it often attracts buyers years from now when it’s time to sell.

We’ve seen this pattern repeat itself over and over. Homes that command strong interest when you purchase them frequently become the homes that command strong interest when you decide to move.

Buying the right house often matters more than simply buying the easiest one to get.

Local Knowledge Makes All the Difference

Whether you’re buying or selling, understanding the nuances of Lake Oswego’s neighborhoods has never been more valuable.

For buyers, it’s about recognizing when a home is truly worth competing for—and knowing how to structure an offer that stands out without paying more than necessary.

For sellers, it’s about identifying what today’s buyers value most and pricing your home strategically to generate maximum interest rather than letting it sit on the market.

Every neighborhood, every floor plan, and every price point behaves a little differently. That’s why broad market statistics only tell part of the story.

The Bottom Line

The Lake Oswego market isn’t simply “hot” or “slow”—it’s highly selective. Updated single-level homes and homes with highly functional layouts continue to attract significant attention while homes that miss the mark on condition or pricing may take longer to sell. Success in today’s market comes from understanding what buyers value, recognizing opportunities when they arise, and having a strategy that’s tailored to the specific home—not just the market as a whole.

Whether you’re hoping to find one of Lake Oswego’s most sought-after homes or wondering how to position your own home for multiple offers, having a Realtor who understands the local market at a neighborhood-by-neighborhood level can make all the difference.

That’s where we come in. With over 35 years’ experience both living in and selling real estate in Lake Oswego, we understand the nuances of the market that give our clients the upper hand in negotiating a sale. We’d be honored to work with you.

Kevin Costello kevin.costello@cascadehasson.com 503.939.9801

Riley Costello riley.costello@cascadehasson.com 971.322.6205