Lake Oswego Real Estate Activity – October 6-12, 2008

Sellers beware. This week’s SOLD properties averaged nearly 20% price discounts from their original list price and 160 days on market.

Some of them appear to have had hugely inflated seller expectations initially. To be sure, every situation has its own story, but a strong pricing strategy makes a huge difference in buyer perception and ultimately, market time.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (October 5—October 12, 2008)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
65 GALEN ST
$135,000
1
1
689
CONDO
10/7
47 EAGLE CREST DR
$149,900
2
1
932
CONDO
10/7
44 EAGLE CREST DR
$154,900
3
2
1,085
CONDO
10/7
86 KINGSGATE RD
$164,900
2
2
849
CONDO
10/10
12868 BOONES FERRY RD
$349,900
2
2.1
1,136
ATTACHD
10/6
6 SUMMIT RIDGE CT
$375,000
2
2.1
1,750
ATTACHD
10/5
12251 ORCHARD HILL RD
$389,500
3
2
1,868
DETACHD
10/5
4051 VIRGINIA WAY
$445,000
4
2.1
1,658
DETACHD
10/7
5869 RIDGETOP CT
$580,000
3
2.1
3,080
DETACHD
10/10
1921 PARK FOREST CT
$624,900
4
2.1
2,531
DETACHD
10/11
13581 GOODALL RD
$650,000
3
2
1,220
DETACHD
10/9
5441 DENTON DR
$650,000
4
2.1
3,335
DETACHD
10/5
3886 TAMARACK LN
$699,900
4
3.1
4,010
DETACHD
10/5
15939 TWIN FIR RD
$799,000
3
2
2,480
DETACHD
10/9
840 Evergreen RD
$875,000
4
2.1
2,765
DETACHD
10/5
17644 WOODHURST PL
$880,000
4
2.1
4,539
DETACHD
10/8
15847 SPRINGBROOK CT
$938,000
3
3
2,705
DETACHD
10/5
610 9TH ST
$1,225,000
4
3.1
3,690
DETACHD
10/6
657 OAK MEADOW DR.
$1,395,000
4
3.1
4,371
DETACHD
10/7

PENDING SALES (October 6—October 12, 2008)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
4644 LOWER DR
$129,900
2
1.1
1,170
CONDO
30
44 EAGLE CREST DR
$150,000
2
1
908
CONDO
266
3836 BOTTICELLI ST
$175,000
2
2
1,055
CONDO
344
4087 JEFFERSON PKWY
$225,000
2
2.1
1,851
ATTACHD
176
18951 ARROWWOOD AVE
$339,000
3
1.1
1,384
DETACHD
3
5456 Willow Court
$429,000
3
2.1
2,400
ATTACHD
17845 HILLSIDE WAY
$579,500
5
3
2,820
DETACHD
263
801 NORTHSHORE RD
$879,900
4
3
2,144
DETACHD
6

SOLD (September 29—October 5, 2008)

ADDRESS ORIG. PRICE SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
6882 MONTAUK CIR
$157,000
$157,000
2
1
924
CONDO
23
200 BURNHAM RD
$369,850
$250,000
2
2
1,334
CONDO
28
5829 SW BENFIELD CT
$347,800
$289,750
5
2.1
1,744
DETACHD
115
820 BOCA RATAN DR
$464,900
$321,000
3
3.1
2,220
DETACHD
10
5207 ROSEWOOD ST
$399,900
$347,000
3
2
1,438
DETACHD
119
17239 REBECCA LN
$414,900
$389,100
4
2.1
1,970
DETACHD
292
1790 YARMOUTH CIR
$499,000
$400,000
2
2
1,551
DETACHD
135
18281 WOOD THRUSH CIR
$448,500
$439,900
4
2.1
2,296
DETACHD
102
4729 CAMBRIDGE CT
$648,000
$500,000
2
2.1
3,056
ATTACHD
140
13300 FOX RUN
$700,000
$665,000
4
2.1
2,954
DETACHD
38
5413 LANGFORD LN
$879,000
$715,000
3
2.1
2,891
DETACHD
520
17257 BRYANT RD
$1,550,000
$1,125,000
5
3.2
4,789
DETACHD
381

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.

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