News & Notes ~ Dec 2021 + Year-End Comparison

Every year I like to add in a comparison at the end of the year to the year prior being as the December report offers a unique opportunity to look at just that. So, below you’ll find our usual monthly overview & Neighborhood Report along with a comparison; 2021 to 2020.

As always, Lake Oswego info for Dec 2021 is broken out below as well.

Overview/Fluctuations ~  Market Data Dec 2021 (+2020):    

Inventory is now at a stunning 0.6 months of supply in the Portland area for December. Our supply has simply never been this low… a little more than 2 weeks of Inventory available. Rates as of this writing are hovering around 3.5%, and the Fed is signaling that rates will be rising.                                      

The twelve months of 2021 compared to 2020:

New Listings, (40,531) increased 5.4%.Pending Sales (35,405) increased 7.8%, and –Closed Sales (35,182) increased 9.8%.   ***By Comparison, Twelve months of 2020 (to compare to 2021 above) from last year’s December report read: -New Listings, (38,442) decreased 5.2%, -Pending Sales (32,849) increased 7.9%, and -Closed Sales (32,031) increased 7.8%.

LAKE OSWEGO:

63 Active Listings (Nov 92)
71 New Listings  (Nov 99)
82 Pending Sales (Nov 124)
134 Closed Sales  (Nov 127)
Average Sale Price for Nov: $1,024,400 (Nov $964,300)
NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
29 Days on the Market   (Nov 36)

Market Activity ~ Jan 3-9, 2022

This first full week in the New Year we had only ONE property go on the market in Lake Oswego, and that one is a major fixer/possible rebuild over by George Rogers Park (per the Listing). In my Master’s Group, Realtors are begging each other to list the properties they have in their pockets. My guess is that Sellers are seeing the news of Omicron likely hitting peak soon to then taper off… and so are holding on a bit longer. IMHO there may be a flood of new properties hitting the market in the near future, and anyone in their right mind ought to list their property *now*. All in all, if you’re Buying… hold ‘yer horses! Things will change soon.

There were 11 properties that moved to Pending status and 16 that Closed/Sold last week as well. Right now there are 38 homes available in Lake Oswego.

Here is the data according to RMLS:

NEW Jan 3-9, 2022

AddressList Price# Beds# BathsTotal SFProp Type
143 CHURCH ST$700,000211220DETACHD

PENDING Jan 3-9, 2022

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
200 SW Burnham RD, #203$299,000211199CONDO29
4632 LOWER DR, B2$320,00021.11170CONDO19
16250 PACIFIC HWY, #75$355,000321593CONDO29
1694 BONNIEBRAE DR$415,00021864ATTACHD2
4325 SILVER CT / Upper$499,00032.11844CONDO49
1247 CEDAR ST$550,000322022DETACHD9
1719 ASPEN CT$575,000321444DETACHD31
302 LAUREL ST$679,000321907DETACHD6
770 5TH ST$975,00033.13180DETACHD45
17908 BLUE HERON DR$1,850,000344172DETACHD58
4247 LORDS LN$2,275,00043.13785DETACHD115

SOLD Jan 3-9, 2022

AddressOpening PriceClosed PriceBedsBathsSFProp TypeDays
100 KERR PKWY #51 $      179,000.00 $      186,000.0011617CONDO7
4 TOUCHSTONE  #76 $      234,900.00 $      228,000.0022984CONDO27
4610 LOWER DR / Main $      325,000.00 $      310,000.0021.11260CONDO22
86 KINGSGATE RD, E203 $      325,000.00 $      325,000.0022924CONDO3
4000 CARMAN DR  #92 $      349,000.00 $      349,000.0022999CONDO12
1455 HALLINAN ST $      639,900.00 $      650,000.0032.11325DETACHD5
8 PHEASANT RUN $      649,950.00 $      675,000.0042.11845DETACHD5
5431 BONITA RD $      859,000.00 $      835,000.00432784DETACHD15
548 4TH ST $  1,524,900.00 $  1,450,000.0034.13186ATTACHD103
19317 LORNA LN $  1,699,000.00 $  1,515,000.0054.14634DETACHD186
4118 GLACIER LILY ST $  1,499,500.00 $  1,625,000.0043.14452DETACHD3
312 9TH ST $  1,650,000.00 $  1,650,000.0032.12686DETACHD8
1155 CRESTLINE CT $  2,195,000.00 $  2,010,998.0054.17438DETACHD73
16847 GREENBRIER RD $  2,598,000.00 $  2,598,000.0032.12360DETACHD0
16767 GRAEF CIR $  2,950,000.00 $  2,700,000.0044.14222DETACHD13
1226 NORTHSHORE RD $  7,000,000.00 $  5,500,000.0045.16330DETACHD160
Criteria: (RMLS DATA) Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

Market Activity Dec 20, 2021-Jan 2, 2022

The winter break is such a breath of fresh air. We all get to slow down a bit and enjoy our home hearth with our family and our friends. Thank you all for being readers of the blotter, and for allowing Linda and I to take a break for a couple of weeks. But now we are back at it. The market is healthy and strong and we are gearing up for the late winter and spring housing market.

I don’t think that there has ever been a better time to put a house on the market. Truly, list now if you are planning to sell. The inventory is very, very low. The Federal Reserve has announced that they intend to impliement several interest rate increases in the coming year and there are hordes of buyers wanting to buy before that happens. This is a GREAT time to list a house!

Looking at the numbers in real estate for Lake Oswego in the last two weeks we saw just 3 new listings, 10 houses go into pending status, and 25 sold/closed properties.

See below for more RMLS data.

New Listings Dec 20, 2021-Jan 2, 2022

AddressTypePriceBRBathsSq Ft
45 Eagle Crest Dr #311Condo$285,000221046
1247 Cedar StDetached$550,000322022
302 Laurel StDetached$679,000321907

Pending Dec 20, 2021-Jan 2, 2022

AddressTypePriceBRBathsSq FtCDOM
572 S State St 8CCondo$319,9002191447
4000 Carman Dr #92Condo$349,0002299912
16191 Lake Forest BlvdDetached$500,0003186414
6317 Carman DrDetached$599,00031.5134478
4966 Galen StDetached$600,0003216995
2320 Glen Haven RdDetached$649,00031.513461
52 Northview CtAttached$649,90032.5219854
6472 Dawn StDetached$650,000321032110
1118 Oak StDetached$650,00031.5132012
115 Touchstone TerrAttached$670,00043.5256079

Sold/Closed Dec 20, 2021-Jan 2, 2022

AddressTypeList PriceSold PriceSq FeetDOM
9 Oswego SummitCondo$218,000$218,0007646
44 Eagle Crest DR #36Condo$250,000$248,5009033
4000 Carman Dr G108Condo$249,000$271,5007673
59 Oswego SummitCondo$295,000$295,00011402
7155 Childs RdCondo$278,000$300,0009164
86 Kingsgate Rd E103Condo$355,000$355,00092466
17347 Ashley CtAttached$650,000$645,946211734
16989 Tualatin StDetached$690,000$650,000149150
4104 Lakeview BlvdDetached$849,000$722,000224487
13470 Peters RdAttached$799,500$827,00023244
1407 Greentree CircleDetached$835,000$876,00022013
4080 Coltsfoot LnDetached$899,900$884,900288411
365 3rd StAttached$899,000$910,00021543
17288 Blue Heron RdDetached$1,775,000$1,050,0004128405
755 Ellis AveDetached$829,000$1,100,00022485
3777 Rivers Edge DrDetached$1,095,000$1,100,00028756
18168 Westminster DrDetached$1,099,000$1,150,00042205
14405 Pfeifer DrDetached$1,250,000$1,250,00038534
828 7th StDetached$1,250,000$1,400,00024184
1300 Tyndall CtDetached$1,299,950$1,400,88824184
5918 Seville AveDetached$1,289,800$1,405,345177624
2245 Glen Haven RdDetached$1,950,000$1,950,00038309
637 Englewood DrDetached$2,825,000$2,695,000423119
2101 Wembley Park RdDetached$2,750,000$2,700,000471019
1101 Crestline CtDetached$3,695,000$2,775,0007226415

Criteria:Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

Notary Services at the Library

Did you know that the Lake Oswego Library offers free notary services the first and third Saturdays of each month? It does, including today. Volunteers provide the notary as a community service. It’s free.

The library is located at 706 4th St in First Addition. For more information click here.

I’ll have the market activity report up shortly. Thank you for your patience.

Dianne

The Best of the Holidays To You!

Dianne and I wish you the very best of the season as you hopefully get a chance to slow down a bit and enjoy the people and things you love. We’ll be taking some time off from the Blotter during the holidays and will be back very soon to fill you in on all the latest happenings in the Lake Oswego real estate market!

Choosing a Home Inspector

There is a tendancy to shop for good value. It’s bread into us by the reality that making our dollars go further enhances our ability to invest and plan for the future. This is a good trait in people, but when it comes to home inspectors, you really do get what you pay for.

You can get a home inspection done for around $300-$400. The inspectors that I recommend charge twice that. So what’s the difference? Time, my friend. The difference is time.

The good inspectors book 1 or 2 inspections a day. The cheap inspectors book 3-4 a day. This means that in saving money you are probably hiring someone who is checking their watch and thinking that they need time to drive to the next appointment to get there on time.

You just don’t know what is going to turn up in a home inspection. Your inspector needs time to dwell on details and figure the house out. The two companies I recommend most highly are Associated Master Inspectors and Inspectek West. Both have mulitiple employees and anyone of them is terrific. In addition, AMI maintains a contractor list that is long and well vetted. Painters, asbestos abatement, electricians, you name it, they have it. For the AMI contractor list click here.

I want to assure you that I am not in kahoots with either company. I have attended many, many home inspections. I know what a good inspection looks like. In my entire career, I’ve never had a client come back to me after the sale with a horror story of something missed in the home inspection.

I also had a client a few years ago that was certain that I must be recommending people who would go easy on the house so that the sale would be more likely to happen. She hired an inspector who inspected the roof from the driveway. He did not even walk on the roof.

I want my clients to know what they are buying. If something so bad turns up that makes them change their mind about buying the house, I am happy it happened early in the process and that they didn’t buy a problem.

As always, thanks for reading the blotter,

Dianne

Market Activity Dec 6-12, 2021

While a bit slower than the market when we are not in the Holiday Season, real estate continues to chug along. Last week in Lake Oswego there were 8 new listings, 17 pending sales, and 13 sold/closed transactions. That is strong activity for this time of year.

See below for RMLS data.

New on the Market Dec 6-12, 2021

AddressTypePriceBRBathsSq Ft
4000 Carman Dr #92Condo$349,00022999
16250 Pacific Hwy #75Condo$355,000321593
200 Burnham Rd #206Condo$358,000211199
4 Preakness CtAttached$550,000321985
8 Pheasant RunDetached$649,95042.51845
1720 Kilkenny DrDetached$685,00032.51348
17617 Sydni CtCondo$799,90052.52634
18000 Sarah Hill LnDetached$1,999,90042.53280

Pending Sales Dec 6-12, 2021

AddressTypePriceBRBathsSq FtCDOM
100 Kerr Pkwy #19Condo$170,0001161752
100 Kerr Pkwy #51Condo$179,000116177
58 Galen StCondo$209,9002168925
9 Oswego SummitCondo$218,000117646
44 Eagle Crest Dr #36Condo$250,000219033
4000 Carman Dr #81Condo$289,0002211294
86 Kingsgate Rd E-203Condo$325,000229243
4429 Thunder Vista LnCondo$459,90022.52002111
1455 Hallinan StDetached$639,90032.513255
52 Northview CtAttached$649,90032.521983
17347 Ashley CtAttached$650,00042.5211734
13470 Peters RdAttached$799,50022.523244
5756 Ridgetop CtDetached$935,0004331625
1011 Spruce StDetached$1,049,00032.521014
425 Kenwood RdDetached$1,090,00032.535276
1500 Morning Sky CtDetached$1,148,00053.54402107
1155 Crestline CtDetached$1,995,000`54.5743873

Sold/Closed Dec 6-12, 2021

AddressTypeList PriceSold PriceSq FeetDOM
4 Touchstone #78Condo$224,999$212,000135130
324 Cervantes CircleCondo$229,000$241,0008323
204 Cervantes CircleCondo$305,000$332,00011383
5077 W Sunset DrAttached$500,000$500,000172047
4301 Lakeview BlvdDetached$635,000$617,0001,22319
1335 Laurel StDetached$850,000$699,000189862
3225 Tempest DrDetached$799,000$800,000223112
3795 Tempest DrDetached$815,000$860,000275319
6810 Childs RdDetached$950,000$935,00032822
14145 Redwood CtDetached$825,000$975,00025195
18 TouchstoneDetached$998,000$1,055,000437818
17561 Lake Haven DrDetached$500,000$1,720,00038790
456 Lake Bay CtDetached$1,600,000$1,725,00023932

Criteria:Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

News & Notes ~ November Numbers 2021

Here is your look at what’s been happening in the overall Portland area including individual areas of the metro, and with Lake Oswego broken out below:

Overview/Fluctuations ~  Market Data Nov 2021:   

What I call the Black Hole of the Holidays is upon us! Meaning- while it is an amazing time to buy a home, there is also shrinking inventory even from the low levels we already had. So… great time to buy- just fewer homes available from which to choose. All that said, when you look at previous years, you can see inventory always takes a dip this time of year as both Buyers and Sellers become distracted with all the trappings of the season. So…nothing out of the ordinary, except for how low supply has fallen. Right now if you’re selling, you can be sure that the Buyers who are looking at your home are savvy, serious, and probably a bit sappy : ) That means…get the cookies in the oven and play those old timey holiday tunes in the background!

Rates: “Rates are being pushed up a bit with continued inflation concerns. Right now they are at about 3.375%.”   Gary Boyer, Regional VP, Directors Mortgage                                                                                                                            

According to the RMLS Market Action Report  for the Portland Metro Area, Nov 2021:

  • There were 2,229 New Listings in Nov 2021, down slightly at 0.4% from Nov 2020’s 2,238 and also down a whopping 31.0% from the previous month/Oct’s 3,232 (normal, seasonal stuff).
  • At 2,832, Nov 2021’s Closed Sales are up 3.2% from Nov 2020’s 2,745, and dropped 9.5% from the previous month/Oct’s total of 3,129
  • At 2,660, Oct 2021’s Pending Sales increased 4.0% from Nov 2020’s 2,557, and decreased 16.5% from the previous month/Oct’s total of 3,187.
  • The Average Sale Price in Nov 2021 of $575,600 is up $54,400 from last year/Nov 2020’s $521,200, and nearly the same as the previous month/Oct’s $575,200.   
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Nov 2021 of $517,800 rose $60,800 from last year/Nov 2020’s $457,000, and was also up $1,800 from the previous month/Oct’s $516,000.

LAKE OSWEGO:

92 Active Listings (Oct 138)
99 New Listings  (Oct 146)
124 Pending Sales (Oct 152)
134 Closed Sales    (Oct 142)
Average Sale Price for Nov: $964,300 (Oct $853,200)
NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
36 Days on the Market   (Oct 27)

Market Activity ~ Nov 29-Dec 5, 2021

This last week we saw 4 properties enter the market, 11 move to Pending status, and 23 Sold/Closed. Right now there are 59 homes in all price ranges available in Lake Oswego.

NEW Nov 29-Dec 5, 2021

AddressList Price# Beds# BathsTotal SFProp Type
12962 KNAUS RD$829,00032.11952DETACHD
17154 LOWENBERG TER$1,295,00053.13412DETACHD
13648 GOODALL RD$2,499,90044.25288DETACHD
13041 KNAUS RD$4,395,00044.14924DETACHD

PENDING Nov 29-Dec 5, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
4 TOUCHSTONE,  #76$228,00022984CONDO27
4000 CARMAN DR,  G108$249,00021767CONDO3
86 KINGSGATE RD,  E103$355,00022924CONDO66
4083 JEFFERSON PKWY$366,900221202CONDO8
1719 ASPEN CT$590,000321444DETACHD2
4104 LAKEVIEW BLVD$735,000422244DETACHD87
4080 COLTSFOOT LN$899,90042.12884DETACHD11
4118 GLACIER LILY ST$1,499,50043.14452DETACHD3
312 9TH ST$1,650,00032.12686DETACHD8
752 8TH ST$1,877,00053.14032DETACHD27
21 D AVE,  #14$2,046,80022.12406CONDO1

SOLD Nov 29-Dec5, 2021

AddressOpeningClosedBedsBathsSFProp TypeDays
4000 CARMAN DR,  C44$260,000$256,50022866CONDO46
86 KINGSGATE RD, A203$285,000$307,00022849CONDO1
4000 CARMAN DR,  B23$307,500$321,70022866CONDO3
218 RIDGEWAY RD / Main$350,000$360,00021914CONDO4
1400 BONNIEBRAE DR / Main$425,000$415,00021890CONDO7
71 KINGSGATE RD$595,000$625,00032.11727DETACHD2
1638 PINE ST$800,000$835,000433105DETACHD4
15449 PARTRIDGE DR$824,900$865,00042.12817DETACHD2
14655 UPLANDS DR$1,065,000$1,065,000532462DETACHD0
5492 YORKSHIRE PL$1,130,000$1,180,00042.12462DETACHD4
1776 OAK ST$1,350,000$1,290,00043.14012DETACHD89
2630 RIVENDELL RD$1,399,000$1,378,20043.14612DETACHD10
4305 UPPER DR$1,525,000$1,540,00042.13483DETACHD8
17301 BERGIS FARM DR$2,250,000$1,785,00043.14737DETACHD188
611 RIDGEWAY RD$2,049,000$1,900,00045.14463DETACHD145
4480 UPPER DR$2,000,000$1,950,00043.13497DETACHD19
16743 SW Pacific HWY$2,195,000$2,085,000444340DETACHD132
1099 CHERRY CIR$2,275,000$2,300,00053.14039DETACHD3
4105 UPPER DR$3,250,000$3,450,00053.14967DETACHD4
17475 BLUE HERON RD$3,995,000$3,600,00055.15787DETACHD39
736 SOUTHVIEW RD$4,195,000$3,940,00043.24639DETACHD6
2088 CREST DR$6,995,000$5,800,00046.18259DETACHD91
3232 LAKEVIEW BLVD$7,000,000$7,000,00045.18170DETACHD0
Criteria: (RMLS DATA) Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

Tinseltown Trolley

The Lake Oswego Trolley is a favorite of mine. The trolley runs from State Street, along the Willamette River to the South waterfront in Portland. It’s a blast! One year, I packed a picnic and took my Mom for a trolley ride for her birthday.

The scenery is lovely. It meanders along through Dunthorpe ( a gorgeous neighborhood!) and has expansive views of the river. There is also a long tunnel that is pitch dark inside, except for the lights of the trolley.

This year the trolley is offering a Tinseltown experience. The event is December 10, 11, and 12. Departure times vary with 3 rides on Friday the 10th, 6 on Saturday the 11th. and 6 on Sunday the 12th. The cost is $20 for adults and $17 for youth (0-17). The trolley is decorated for the season and there is a special guest on board from the North Pole. For more details, click here.

What a fun holiday event for everyone!

Seasons greetings, and, as always, thanks for reading the blotter.

Dianne