Market Activity Update – February 16 – 22, 2009

Lake Oswego saw 16 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). We had 7 go pending, and 4 that closed.

As in my last Market Activity Report on Feb. 9th, we’ve got a good mix of properties that have been on the market for quite awhile selling and going to Pending status, as well as a good number that have been on the market a relatively short period of time.  For what it’s worth, my interpretation of this is that prices are coming in line with consumer demand, i.e., homes that have been on the market awhile are at prices agreeable to buyers, and newer listings are starting out at prices that are more in line with buyer expectations.  That said, we can’t really see what the Pending sale prices will be until they actually close. So…   stay tuned to the Blotter for that info as it becomes available.

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

NEWLY LISTED (February 16—February 22, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address List Price # Beds # Baths Tot. SF Prop Type List Date
44 EAGLE CREST DR $135,900 1 1 798 CONDO 2/20/2009
1615 HALLINAN ST $285,000 3 1.1 1,500 DETACHD 2/17/2009
18543 LONGFELLOW AVE $339,900 3 1.1 1,279 DETACHD 2/16/2009
2800 WEMBLEY PARK RD $374,500 3 2 1,575 DETACHD 2/17/2009
1228 HALLINAN CIR $389,000 4 2 1,932 DETACHD 2/19/2009
200 BURNHAM RD $399,000 3 2 1,960 CONDO 2/18/2009
19210 MAREE CT $415,000 3 2.1 1,634 DETACHD 2/17/2009
221 HIDALGO ST $419,500 3 2.1 2,628 DETACHD 2/16/2009
131 WILBUR ST $450,000 2 2 1,312 DETACHD 2/22/2009
905 COUNTRY CLUB RD 399000 – 458876 3 2.1 2,817 DETACHD 2/19/2009
18055 CENTRAL AVE $495,000 3 1 1,202 DETACHD 2/17/2009
8 WALKING WOODS DR $519,900 4 3 3,402 DETACHD 2/17/2009
497 ASH ST $598,800 6 3 3,840 DETACHD 2/18/2009
4605 CHELSEA LN $752,000 4 2.1 3,411 DETACHD 2/17/2009
1065 LUND ST $869,000 5 3.1 4,584 DETACHD 2/17/2009
17540 RIDGEVIEW LN $1,285,000 4 3.1 4,345 DETACHD 2/19/2009

PENDING SALES (February 16—February 22, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address List Price # Beds # Baths Tot. SF Prop Type List Date CDOM
17304 MARJORIE AVE $333,000 3 1.1 1,340 DETACHD 2/3/2009 16
178 PINE VALLEY RD $475,000 5 3.1 2,999 DETACHD 2/12/2009 6
964 COUNTRY COMMONS LN $499,000 3 2.1 2,065 DETACHD 1/23/2009 27
4676 WINTHROP CT $557,750 4 2.1 3,112 DETACHD 11/18/2008 172
625 CLARA CT $587,500 3 2.1 2,532 DETACHD 9/4/2008 297
731 F AVE $624,900 4 2.1 2,668 DETACHD 1/16/2009 327
17860 CRESTLINE DR $2,795,000 4 5.2 6,810 DETACHD 10/21/2008 485

SOLD (February 16—February 22, 2009)

ADDRESS ORIG. PRICE SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address O/Price Close Price # Beds Tot. Baths Tot. SF Prop Type List Date CDOM
3 THE GROTTO $300,000 $292,000 3 2 1,688 DETACHD 11/5/2008 274
4451 BERNARD ST $349,950 $330,000 3 2 1,800 DETACHD 10/29/2008 190
4 BRITTEN CT $429,000 $399,000 3 2.1 1,972 ATTACHD 11/4/2008 74
4280 CHAPMAN WAY $469,000 $441,000 3 2 1,947 DETACHD 12/15/2008 105

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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