Market Activity for April 6th to 12th, 2009

daffodils2It feels like the new listings are coming onto the market in a fairly consistent way with 15 to 20 new listings, not “refreshed” but actually new, each week.  Last week we saw 16 new listings.  There were 4 pending sales and 5 closed listings.  I keep waiting to see evidence of the spring market kicking in.  That would be reflected in an increase in both pending and closed sales.  So far, it remains a bit sluggish.   On the plus side, we have one pending sale at close to $1,000,000.  The remainder of the pending and closed sales continue to favor the more moderately priced homes.  I am also continuing to see that the cumulative days on the market continue to embrace both extremes.  It seems like houses that were over-priced, and that have gradually bitten the bullet to bring the price down to a point where price meets market demand, are selling with very long market times.  The other extreme are the new listings that are able to look at current market conditions, price realistically, and are selling in a very short period of time.

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

NEWLY LISTED (April 6—April 12, 2009)

Address List Price # Beds # Baths Tot. SF Prop Type List Date
Address List Price # BR # BTHS Total SF Prop Type List Date
4 TOUCHSTONE $93,000 2 2 979 CONDO 4/10/2009
3433 MCNARY PKWY $169,900 2 2 1,008 CONDO 4/8/2009
18055 CENTRAL AVE $299,000 2 2 1,202 DETACHD 4/10/2009
15256 BOONES WAY $339,900 2 2.1 1,600 ATTACHD 4/12/2009
1716 HALLINAN ST $369,500 3 3 1,916 DETACHD 4/10/2009
4105 DOUGLAS WAY $384,900 7 2.1 2,856 DETACHD 4/12/2009
54 AQUINAS ST $499,900 3 2.1 2,802 DETACHD 4/7/2009
6 NORTHVIEW CT $525,000 4 3.1 3,188 DETACHD 4/10/2009
73 TANGLEWOOD DR $539,000 4 3.1 3,576 DETACHD 4/9/2009
1025 C AVE $549,000 3 2 2,261 DETACHD 4/7/2009
2925 ORCHARD HILL PL $549,000 3 2.1 2,418 DETACHD 4/9/2009
4 DA VINCI ST $599,950 5 3 3,100 DETACHD 4/6/2009
13456 PROVINCIAL HILL WAY $639,900 3 2.1 2,771 DETACHD 4/6/2009
18402 ANDUIN TER $699,995 5 3.1 4,302 DETACHD 4/6/2009
18025 SKYLAND CIR $1,425,000 4 3.2 5,379 DETACHD 4/6/2009
616 CABANA LN $2,795,000 5 4 3,800 DETACHD 4/6/2009

PENDING SALES (April 6—April 12, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQFT
PROP TYPE
DOM
Address List Price # BR # BTHS Total SF Prop Type CDOM
3190 DUNCAN DR $259,900 3 2.1 2,401 DETACHD 115
17079 CHERRY CREST AVE $430,000 3 2.1 3,002 DETACHD 154
615 LAKE BAY CT $599,000 3 3 2,542 DETACHD 323
716 MCVEY AVE $959,998 3 2 2,348 DETACHD 805

SOLD (April 6—April 12, 2009)

ADDRESS ORIG. PRICE SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
4640 LOWER DR $189,900 $115,000 2 1.1 1,170 CONDO 572
127 OSWEGO SMT $184,900 $179,595 2 2 1,212 CONDO 0
5063 FOOTHILLS DR $230,000 $225,000 2 2 991 CONDO 8
16 PARTRIDGE LN $418,900 $398,000 3 2.1 2,304 DETACHD 48
731 F AVE $939,000 $605,000 4 2.1 2,668 DETACHD 327

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. CDOM stands for cumulative days on market, which includes any re-listing and measures from the initial listing date.

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2 Replies to “Market Activity for April 6th to 12th, 2009”

  1. 716 McVey Avenue is in the process of being bought by the City of Lake Oswego for use as a staging area for the interceptor sewer project. http://www.lakeinterceptor.com I wouldn’t really count that as a “pending sale at close to $1,000,000,” particularly in light of the City’s stated offer of $800k for the property and their apparent intention to condemn the property if a sale cannot be closed. Also interesting to note that the property had been on the market since September 2006! See: http://lakeoswegoreview.com/news/story.php?story_id=123446546934017800

  2. That is an excellent observation. It will be interesting to see what the final sales price is. That will be disclosed when the status changes to “Sold”, meaning it is a closed sale. That is unless the Lake Oswego Review or the Oregonian can fish out the sales price earlier. Thanks for the clarification.

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