One part of Lake Oswego is seeing a much bigger price move
The Federal Housing Finance Agency reported U.S. house prices rose 2.6% year over year through July 2026. Lake Oswego is not following one trend. The Real Estate Data Aggregator counted two ZIP codes here moving in opposite directions over the three months ending August 31, 2026.
The price split, side by side
| 97034 | 97035 | |
|---|---|---|
| Median sale price | $1,222,000 | $846,500 |
| Price change, year over year | -2.3% | +10.7% |
| Homes sold | 102 | 122 |
| Median days on market | 24 days | 26 days |
| Months of supply | 4.4 months | 3.7 months |
In 97035, the Real Estate Data Aggregator put the median sale price at $846,500, up 10.7% from the same three months in 2025. That is nearly four times the national gain the Federal Housing Finance Agency reported. In 97034, the median came in at $1,222,000, down 2.3% from a year before. Same city, very different story.
What is driving each ZIP
In 97035, homes are moving faster. The Real Estate Data Aggregator counted a median of 26 days on market, 14 days shorter than a year ago. Months of supply sat at 3.7. Nearly 37% of homes went under contract within two weeks of listing, per the Real Estate Data Aggregator.
In 97034, the pace picked up too, but supply is a little looser. The Real Estate Data Aggregator counted 24 median days on market, 8 days shorter than a year ago. Months of supply was 4.4. New listings jumped 27.4% year over year, giving buyers more to choose from. More choices can soften prices, and that is what the data shows.
Both ZIPs showed rising pending sales and more homes going under contract quickly. The difference is in price direction. 97034 has more supply coming in, and that is keeping a lid on prices even as demand holds up.
One more thing: rates are not helping buyers
Freddie Mac put the 30-year fixed rate at 7.40% as of October 15, 2026. Fannie Mae, as reported by CNBC, forecasts that rate staying near 7.5% through all of 2027. That matters for how many buyers can qualify, and it puts more weight on how you price from the start.
The Lake Oswego total
Across both ZIPs together, the Real Estate Data Aggregator counted 224 homes sold in the three months ending August 31, 2026, up 2.8% from a year before. New listings across both ZIPs rose 16.1% to 295. Pending sales hit 247, up 6.5%. The overall market is active. But averages hide the split between the two ZIPs.
- 97035 is up 10.7% in price year over year.
- 97034 is down 2.3%.
- Both ZIPs are selling homes faster than a year ago, but more supply in 97034 is pulling prices down.
- Rates at 7.40% (Freddie Mac) tighten the field of buyers in both.
- One street can read differently from the whole ZIP, so the numbers above are a starting point, not the final word on your home.
Your next step
(503) 300-6224Text me your address and I will send back where your Lake Oswego home sits on that price trend, against what homes near you actually sold for. 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 July; Up 2.6 Percent from Last Year | FHFA, Sep 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: Fannie Mae sharply raises mortgage rate forecast for 2027, Oct 14, 2026
- CNBC: Thousands of homeowners face adjustable-rate mortgage resets — and much higher payments, Oct 13, 2026
- Freddie Mac: Mortgage Rates, read Oct 17, 2026