Market Activity for August 10-16, 2009

Last week brought 11 new listings to Lake Oswego, 12 Pending sales, and 12 closed sales. Interesting to me was that all of the new listings are around 500k or less. That is the price range that is selling best. There is a very direct impact, in my opinion, on the sales activity that has been created by the First-time Homebuyer Tax Credit that is part the Federal Government’s stimulus package. No, I don’t think a first-time buyer will be buying a $500,000 house. But I do think the houses that are $350,000 or less will be in large part purchased by first-time buyers. And the homeowners who sell those will either buy again or choose to rent. So there may be some push up to the homes priced just up from the $350,000 range. The tax credit requires that buyers close on their purchase by the end of November. So for this week’s new listings, I would think that they are well positioned for a quick sale if they a in nice condition and priced correctly.

Having said all of that about last week’s new listings, I also make note of the sale at 890 Lakeshore: $2,275,000 and it sold in just 13 days, for full price.

(see below the tables for additional notes):

NEWLY LISTED (August 10—August 16, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address List Price # BR # BTHS Total SF Prop Type List Date
4 TOUCHSTONE $179,500 2 2 984 CONDO 8/13/2009
5354 LOWER DR $309,000 3 1 1,565 DETACHD 8/10/2009
406 8th ST $365,000 3 1.1 2,437 DETACHD 8/13/2009
16240 PARKER RD $374,700 3 2 1,454 DETACHD 8/15/2009
18922 REDWING WAY $379,900 4 2 2,076 DETACHD 8/12/2009
15580 PARTRIDGE DR $398,000 4 2.1 2,245 DETACHD 8/13/2009
31 DA VINCI ST $424,900 4 2.1 2,232 DETACHD 8/13/2009
17221 ROBB PL $427,500 3 2 1,812 DETACHD 8/13/2009
138 KINGSGATE RD 435000 3 2.1 1,600 DETACHD 8/12/2009
17886 TUALATA AVE 468500 4 2 1,994 DETACHD 8/10/2009
939 SUNNY HILL DR 515000 4 2.1 3,254 DETACHD 8/15/2009

PENDING SALES (August 10-August 16, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address List Price # BR # BTHS Total SF Prop Type CDOM
14431 SHERBROOK PL $249,900 4 3 2,605 DETACHD 254
17928 ROYAL CT $269,900 3 2 1,272 DETACHD 111
5 PEACOCK PL $299,950 4 2.1 1,760 DETACHD 135
4 WHEATHERSTONE $334,950 3 2.1 1,692 CONDO 86
16695 GLENWOOD CT $449,000 4 3 3,104 DETACHD 336
3355 UPPER DR $470,000 4 2 3,205 DETACHD 23
2981 VALE CT $475,000 5 2.1 3,516 DETACHD 436
14121 GABRIELLE CT $609,000 4 2.1 3,006 DETACHD 55
5501 RACHEL LN 679900 4 2.2 3,509 DETACHD 623
5831 SUNCREEK DR 685000 4 2.1 2,733 DETACHD 27
18051 KELOK RD 799000 5 3.1 3,670 DETACHD 401
1149 LAKESHORE RD 1150000 4 2.1 2,660 DETACHD 143

SOLD (August 10-August 16, 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
82 OSWEGO SMT $220,000 $210,000 2 2 1,212 CONDO 82
16501 LAKE FOREST BLVD $319,900 $299,900 3 1 1,429 DETACHD 52
5214 LOWER DR $659,000 $356,000 4 2.1 2,904 DETACHD 547
12537 27TH PL $369,000 $369,500 4 2.1 2,375 DETACHD 12
1462 Worthington ST $424,000 $395,000 4 3 1,800 DETACHD 108
17144 Warren CT $585,000 $500,000 4 2.1 2,725 DETACHD 335
2161 HILLSIDE CT $699,900 $519,900 4 3 3,347 DETACHD 357
645 COUNTRY CLUB RD $975,000 $750,000 4 2.1 3,262 DETACHD 570
17259 LOWENBERG TER $999,900 770000 4 2.1 2,955 DETACHD 662
943 SW ATWATER RD $1,435,000 930000 4 2.1 3,874 DETACHD 331
3155 DOUGLAS CIR $1,379,000 965000 5 3.2 4,517 DETACHD 385
890 LAKESHORE RD 2275000 2275000 3 3.1 3,200 DETACHD 0

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.

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