After annual increases and decreases from 2020 to 2022, Lake Oswego's October median home values have decreased by 4% during the last year and are currently $761k.
The Housing Market has been rocking and rolling for the previous few years, and the current negative or smaller appreciation is the equivalent of steadying the ship or bringing home values back within the appropriate growth ranges.
The average annual appreciation, or home value growth, should be approximately 4% to 6%. An annual appreciation of 18% is not the norm or sustainable, and negative or slower growth brings the average appreciation back within the benchmark. Anything above 4% to 6% is a fantastic gift but should not be expected or missed during a short-term market fluctuation. Real estate is a long-term investment; these highs and lows average over the years. When looking at the 5-year, 10-year, or 20-year annual appreciation graphs, the numbers average around the 4% to 6% benchmark.
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