Lake Oswego has more listings, and buyers are still writing offers
These numbers cover the three months ending August 31, 2026. Redfin reported the weekly average mortgage rate at 7.32% for the four weeks ending October 25, 2026. That is a real number. And yet the Real Estate Data Aggregator counted 295 new listings across Lake Oswego, up 16.1% from the same months in 2025. Pending sales came in at 247, up 6.5%. Buyers did not stop. That is the headline fact for anyone thinking about selling or buying here.
More supply means more competition if you are a seller. More choice if you are a buyer. But the data shows good homes are still getting picked off fast.
The citywide picture
New listings and homes for sale both landed at 295. Supply grew, but so did buyer activity. The Real Estate Data Aggregator counted 224 homes sold, up 2.8% from the same period in 2025. That is a market that is moving, not stalling.
ZIP 97034: prices dipped, but homes moved faster
The Real Estate Data Aggregator put the median sale price in 97034 at $1,222,000 for the three months ending August 31, 2026. That is down 2.3% from the same months in 2025. A small dip. Not a collapse. What stands out more: the median days on market fell to 24 days, 8 days shorter than last year. Homes in this ZIP are moving quicker even as prices eased a little.
The Real Estate Data Aggregator found that 23.5% of homes in 97034 sold above list price, up 6.1 points from a year ago. Nearly 4 in 10 homes, 38.7%, went under contract within two weeks of listing. That share jumped 10 points from 2025. Sellers who price right are still seeing real competition.
ZIP 97035: prices up, days on market way down
The story in 97035 reads differently. The Real Estate Data Aggregator put the median sale price at $846,500, up 10.7% from the same months in 2025. Homes sold faster too. The median days on market dropped to 26 days, 14 days shorter than last year. That is a big shift.
The Real Estate Data Aggregator counted 151 new listings in 97035, up 7.1% from 2025. Pending sales reached 128, up 3.2%. And 36.7% of homes went under contract within two weeks of listing. Both ZIPs are moving. The price ranges just sit in different places.
How the two ZIPs compare
| 97034 | 97035 | |
|---|---|---|
| Median sale price | $1,222,000 | $846,500 |
| Median days on market | 24 days | 26 days |
| Sale to list ratio | 98.5% | 98.5% |
| Sold above list | 23.5% | 18% |
| Under contract in 2 weeks | 38.7% | 36.7% |
| Months of supply | 4.4 months | 3.7 months |
What the national rate means locally
Redfin reported the weekly average mortgage rate at 7.32% for the four weeks ending October 25, 2026. Realtor.com noted that rates topped 7% for the first time since January 2025. That is real pressure on buyers. And yet Lake Oswego's pending sales still climbed 6.5% year over year, per the Real Estate Data Aggregator. The Federal Housing Finance Agency reported U.S. house prices rose 2.4% from August 2025 to August 2026. Lake Oswego's 97035 outpaced that national number by a wide margin.
- More homes came to market in Lake Oswego this summer.
- Buyers kept moving.
- Days on market fell in both ZIP codes.
- Nearly 4 in 10 homes in 97034 went under contract within two weeks.
- If you are selling, price matters more now because buyers have more options.
- If you are buying, good homes are still going fast.
One street can read very differently from the whole ZIP code. The numbers above are the average of hundreds of sales. Your block may be tighter or looser than that. Text me your address and I will pull what homes near you actually sold for.
Your next step
(503) 300-6224Text me your address and I will send back what homes near you actually sold for in 97034 or 97035, and how long they took to sell. Takes a day, costs nothing.
Text me- Real Estate Data Aggregator numbers for ZIPs 97034 and 97035, the three months ending August 31, 2026, compared with the same months of 2025. Real Estate Data Aggregator last updated them on Oct 7, 2026.
- Federal Housing Finance Agency: FHFA House Price Index® Up 0.3 Percent in August; Up 2.4 Percent from Last Year | FHFA, Oct 27, 2026
- Redfin: U.S. Home-Sale Prices Just Fell for the First Time in 3 Years, Oct 29, 2026
- Realtor.com: September 2026 Monthly Housing Trends: Price Cuts Hit 4-Year Highs as Mortgage Rates Top 7%, Sep 30, 2026
- Realtor.com: September 2026 Rental Report: Median Asking Rent Declines at the Slowest Pace in 3 Years, Oct 15, 2026
- CNBC: Home prices fall and rents rise, both for the first time in three years, Oct 29, 2026
- CNBC: Mortgage rates fell for the second straight week, but more borrowers still sought savings in riskier loans, Oct 28, 2026