Is Lake Oswego, OR 97034 a buyer’s or seller’s market?

The Lake Oswego housing market right now

In the three months ending August 31, 2026, 24% of homes in Lake Oswego, OR 97034 sold above their list price, the typical home went under contract in 24 days and there were 4.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 103 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 17%, homes sold faster (32 days then) and the median sale price held steady to $1,241,463. Overall, Lake Oswego is more competitive than a year ago, so tougher for buyers.

Within Clackamas County, homes here sell faster than in 57% of the county’s ZIP codes, and sell more often over asking than in 65%. On our competition score, Lake Oswego ranks #83 of 170 OR ZIP codes with enough sales (score 51 out of 100).

Nearby, buyers who want less competition could look at Government Camp 97028 (0% sold over asking) or Beavercreek 97004 (0% sold over asking), while Clackamas 97015 (35% sold over asking) and Portland 97222 (35% sold over asking) are even more competitive.