Here’s my pick this week for a free & fun adventure in Lake Oswego this week~
First Tuesday Music at the Lake Oswego Public Library features Dr Bryce Colson. He will bring his portable organ console and accompany the classic movies J. Searle Dawley’s Frankenstein (1910) and Buster Keaton’s The Haunted House (1921). In between he’ll have some fun and educational insights to share with the audience. Sounds Like fun! Be there~
Feb 7th – 6-8PM, 706 Fourth St, Lake Oswego. Contact April Younglove for more info: 503-534-5667 ayounglove@ci.oswego.or.us
Last week there were 10 properties entering the market (New), 7 accepted Offers (Pending) and 6 that Sold/Closed in Lake Oswego. Right now there are 88 homes available ranging from $229,900 to $9.9 mil.
Here is the breakdown of last week’s activity:
NEW Jan 23-29, 2023
Address
List Price
Beds
Baths
SF
Prop Type
44 EAGLE CREST DR #24
$265,000
3
2
1085
CONDO
1600 ASPEN ST
$575,000
3
2.1
2212
DETACHD
1448 GREENTREE CIR
$945,000
4
2.1
2649
DETACHD
17390 GRANDVIEW CT
$1,450,000
4
4.2
4502
DETACHD
21 D AVE #6
$1,693,600
2
2.1
1999
CONDO
21 D AVE #3
$1,850,400
2
2.1
2178
CONDO
21 D AVE #8
$1,945,600
2
2.1
2183
CONDO
17173 CEDAR RD
$2,350,000
4
4.1
3996
DETACHD
1956 HIGHLANDS LOOP
$2,750,000
5
4.1
4641
DETACHD
17930 KELOK RD
$3,849,900
5
3.2
4715
DETACHD
PENDING Jan 23-29, 2023
Address
List Price
Beds
Baths
SF
Prop Type
Days
16250 PACIFIC HWY #81
$327,800
1
1
841
CONDO
99
19019 TERRY AVE
$674,900
3
2
1344
DETACHD
9
19176 SW BENFIELD AVE
$749,900
3
2
1538
DETACHD
3
1248 LARCH ST
$750,000
4
2
2347
DETACHD
6
13991 MAJESTIC CT
$789,000
3
2
1765
DETACHD
6
15684 BOONES WAY
$815,000
3
2.1
2425
DETACHD
97
21 D AVE #7
$1,804,000
2
2.1
2023
CONDO
434
SOLD Jan 23-29, 2023
Address
Opening
Closed
Beds
Baths
SF
Prop Type
Days
4361 ALBERT CIR
$919,000
$752,500
4
2.1
2382
DETACHD
118
16439 LEXINGTON CT
$740,000
$845,000
2
2
1563
DETACHD
52
13659 WESTLAKE DR
$1,625,000
$1,550,000
4
3.1
4422
DETACHD
122
141 FURNACE ST/Lower
$1,750,000
$1,615,000
2
2.1
2249
CONDO
67
16873 CANYON DR
$1,980,000
$1,980,000
4
4
3632
DETACHD
48
16885 FERNWOOD DR
$2,149,000
$2,149,000
4
3.1
3753
DETACHD
43
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 (***We’ve used “Days” in each category for ease of understanding) .
Here you’ll find the overall Monthly Report plus year-end details and Neighborhood Stats as of Dec 31st, 2022, with Lake Oswego broken out below:
Overview/Fluctuations ~ December 31, 2022 – YEAR-END Market Data:
Inventory has risen substantially over December last year, and steadily in the last few months. Average & Median Values have risen by approx. $40,000 over last year, which is good, but not as substantial an annual increase as in the previous few years. Activity/Volume (Actives/Pendings/Solds) decreased across the board from the last year/2021 and mostly occurring in the last few months as an apparent reaction to rates.
Rates: “Rates are still hovering in the lower 6% range. There has been less volatility lately which is a positive sign.” Gary Boyer, Regional VP, Directors Mortgage
The twelve months of 2022 compared to 2021:New Listings, (36,210) decreased 10.7%.Sales (26,852) decreased 24.2%, and Closed Sales (27,985) decreased 20.5%. By Comparison, Twelve months of 2021 as compared to 2020 from last year’s December Report read: New Listings, (40,531) increased 5.4%. Pending Sales (35,405) increased 7.8%, and Closed Sales (35,182) increased 9.8%.
According to the RMLS Market Action Report for the Portland Metro Area-Dec 2022:
There were 1,073 New Listings in Dec 2022 – down 32.9% from 1,599 in Dec 2021 and down 35.6% from the previous month/Nov’s 1,666.
At 1,464 Dec 2022’s Closed Sales (Solds) are down 43.3% from Dec 2021’s 2,582, and down 9.7% from the previous month/Nov 2022’s total of 1,621.
At 1,206 Dec 2022’s Pending Sales (accepted Offers) are down 37.9% from Dec 2021’s 1,942, and also down 19.5% from the previous month/Nov’s total of 1,498.
The Average Sale Price for December 2022 of, $566,700 is down $16,200 from last year/Dec 2021’s $582,900, and down $17,900 from the previous month/Nov’s $584,600. YTD Average is 610,900, up 6.8% (+15.8% in 2021)
The “Median” Sale Price (the price smack dab in the middle of all sales) in December 2022 of $507,500 is down $3,500 from last year/Dec 2021’s $511,000, and down $18,400 from the previous month’s $525,900. YTD Median is 548,400, up 7.7% (+15.7% in 2021)
Neighborhoods/Areas of Portland:
LAKE OSWEGO (December 2022):
142 Active Listings (Nov 173) 40 New Listings (Nov 73) 35 Pending Sales (Nov 48) 59 Closed Sales (Nov 69) Average Sale Price for Nov: $820,200 (Nov $1,003,400) 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. 58 Days on the Market (Nov 42)
Last week we saw 6 properties enter the market in Lake Oswego, 6 move to Pending status, and 3 Sold/Closed.
Right now there are 91 homes available in lake Oswego ranging from 229,900 to 9.9 mil.
Here is the breakdown according to RMLS:
NEW Jan 9-15, 2023
Address
List Price
Beds
Baths
SF
Prop Type
258 CERVANTES
$559,900
3
2.1
2312
ATTACHD
15430 PARTRIDGE DR
$746,500
4
2.1
2279
DETACHD
913 SUNNY HILL DR
$1,250,000
6
3.1
4196
DETACHD
530 MIDDLECREST RD
$1,659,000
4
3
3280
DETACHD
4694 UPPER DR
$2,098,000
3
3
3637
DETACHD
1960 Mapleleaf RD
$2,450,000
5
5.1
4099
DETACHD
PENDING Jan 9-15, 2023
Address
List Price
Beds
Baths
SF
Prop Type
Days
210 S STATE ST #5
$365,000
2
1
1339
CONDO
70
16 HOTSPUR ST
$799,000
4
3
2335
DETACHD
5
2845 VALE CT
$800,000
4
3
3157
DETACHD
101
3195 EDGEMONT RD
$975,000
3
2
1858
DETACHD
4
6545 CHILDS RD
$1,199,900
6
4.1
3508
DETACHD
28
789 E AVE
$1,899,900
3
2.1
2733
DETACHD
4
SOLD Jan 9-15, 2023
Address
Opening
Closed
Beds
Baths
SF
Prop Type
Days
5 GOYA ST
$680,000
$665,500
4
2.1
2586
DETACHD
39
2424 GREENTREE RD
$729,000
$735,000
3
2.1
1944
DETACHD
17
4920 MULHOLLAND DR
$805,000
$775,000
3
2.1
2498
ATTACHD
62
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 (***We’ve used “Days” in each category for ease of understanding) .
Here are my picks for what to do this week in Lake Oswego, either online or in person:
Mon, Jan 9, 2022 – 11:15 AM- 12:30PM– Lunch at the ACC (M/W/F)- Call (503) 635-3758 for reservations. Adult Community Center, 505 G Ave – For more info CLICK HERE
Tues, Jan 10, 2022 – 6:30PM-8:00PM – Pints from the Past (Part 3) ~ 3rd in the 3-part series on Georgiana Pittock and the Pittock family presented by Mary and Michael Hutchens The Lake Theater &Cafe, 106 North State Street- More Info: CLICK HERE
Wed, Jan 11, 2022 – 10:00-11:30AM – Geneology Interest Group~ Meet in person or online on the 2nd Wed of each month with others interested in geneology research.505 G Ave – More Info + Link:CLICK HERE
Thurs, Jan 12, 2022 – 7:00PM– BIPOC Women’s Speaker Series at Mary’s Woods: Rep. Tawna Sanchez ~ In person at Mary’s Woods or live-streamed, enjoy this series featuring local BIPOC women as they answer the questions “What is your story? What are your passions?” ~ 17400 Holy Names Dr – More Info + Link:CLICK HERE
Fri, Jan 13, 2022 – 7:00-9:00PM –Living Well Dance – featuring the Millennium Dance Band ~ Come dance! Dance music as performed by the “Big Bands” of the 1930’s, 40’s, and 50’s, with an occasional ballroom favorite. $7.00 at the door ~ CCP, 1060 Chandler Rd. – All ages are invited (14 and under w/an adult) – More Info:CLICK HERE
Sat, Jan 14, 2022 – 3:00-4:00PM– Lego Club- T (ages K-5) Every 2nd & 4th Saturday at the Lake Oswego Public Library downststairs. Build & create based on optional themes. Legos provided! – 380 A Ave – More Info :CLICK HERE
Sun, Jan 15, 2022 -Martin Luther King Jr Celebration- 2:00PM – Join the community at Lake Oswego High School or online for this tribute featuring D.J Avalanche as M.C., a keynote address from Dr Shirley Jackson, Portland State University Professor with specializations in race, social movement and gender, Mayor Joe Buck, musical performances by premier male vocalist Alonzo Chadwick, Sr, and artwork created by community members. This will be followed by a car rally. ~ 2501 Country Club Rd – More Info + Links:CLICK HERE
Happy new Year! Here is a look at the last 3 weeks during the time we all withdraw focus from the rest of our lives and enjoy the holidays with family and friends. Real Estate is always happening even during the holidays, and/but tends to slow down a bit too. We’ve got 7 properties that entered the market, 10 that moved to Pending status, and 19 Closed/Sold. Right now there are 91 homes available in Lake Oswego ranging from $285,000 to $6.75 mil.
Here is the breakdown according to RMLS:
NEW Dec 12, 2022 – Jan 1, 2023
Address
List Price
Beds
Baths
SF
Prop Type
3930 LAKE GROVE AVE, #3B
$275,000
2
1
952
CONDO
211 CERVANTES
$359,900
2
2
1100
CONDO
6545 CHILDS RD
$1,199,900
6
4.1
3508
DETACHD
13052 KNAUS RD
$1,400,000
4
3
3026
DETACHD
2671 GLEN EAGLES RD
$1,895,000
3
3
4014
DETACHD
4340 CHAPMAN WAY
$2,450,000
5
4
4058
DETACHD
4101 SOUTHSHORE BLVD
$5,500,000
5
5.1
5938
DETACHD
PENDING Dec 12, 2022 – Jan 1, 2023
Address
List Price
Beds
Baths
SF
Prop Type
CDOM
16 SUMMIT RIDGE CT
$454,900
2
2.1
1576
CONDO
93
1475 CORNELL ST
$650,000
3
2
1599
DETACHD
103
2424 GREENTREE RD
$729,000
3
2.1
1944
DETACHD
17
4920 MULHOLLAND DR
$785,000
3
2.1
2498
ATTACHD
62
2350 SOUTHSHORE BLVD
$926,000
4
2.1
2236
DETACHD
52
1612 LAKE FRONT RD
$950,000
3
2
1831
DETACHD
51
17291 CEDAR RD
$1,245,000
5
4.1
2872
DETACHD
130
13659 WESTLAKE DR
$1,590,000
4
3.1
4422
DETACHD
122
17484 BRYANT RD
$1,675,000
4
3.1
3615
DETACHD
152
141 FURNACE ST/Lower
$1,699,000
2
2.1
2249
CONDO
67
SOLD Dec 12, 2022 – Jan 1, 2023
Address
Opening
Closed
Beds
Baths
SF
Prop Type
CDOM
45 EAGLE CREST DR, #407
$245,000
$203,000
2
1.1
1056
CONDO
48
86 CERVANTES CIR, #10B
$240,000
$238,000
2
1.2
912
CONDO
45
38 CERVANTES CIR
$249,500
$240,000
2
1.1
912
CONDO
5
3930 LAKE GROVE AVE, #3B
$275,000
$296,000
2
1
952
CONDO
163
201 CERVANTES / Lower
$325,000
$325,000
2
1.1
1247
CONDO
6
11 SUMMIT RIDGE CT
$475,000
$420,000
2
2.1
1576
ATTACHD
208
4226 WOODSIDE CIR
$537,500
$503,000
3
2
1578
ATTACHD
67
1273 BOCA RATAN DR
$450,000
$525,000
3
2
1398
ATTACHD
111
17050 TUALATIN ST
$749,000
$770,000
3
3
1905
DETACHD
31
17810 KELOK RD
$845,000
$830,000
3
2
1557
DETACHD
27
7200 CHILDS RD
$950,000
$850,000
4
4
2988
DETACHD
248
16678 INVERURIE RD
$810,000
$855,000
4
2
2666
ATTACHD
507
13248 ROGERS RD
$1,299,000
$1,125,000
5
3.1
3107
DETACHD
1
1451 GREENTREE CIR
$950,000
$1,125,000
4
3.1
2328
DETACHD
1
3056 WEMBLEY PARK RD
$1,350,000
$1,280,000
4
2.1
2611
DETACHD
9
13371 ATWATER LN
$1,899,000
$1,583,000
4
3
4795
DETACHD
32
13258 AMBER PL
$2,295,000
$1,775,000
4
4.1
3735
DETACHD
3
732 ELLIS AVE
$2,385,000
$2,095,000
4
2.1
3482
DETACHD
60
1625 CLOVERLEAF RD
$2,450,000
$2,149,000
4
4
3853
DETACHD
3
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 (***We’ve used “Days” in each category for ease of understanding) .
Moving into a New Year, Dianne and I wish you hopefully some extra time to relax with family and friends, and a festive & safe New Year’s Celebration as we welcome the wonders that 2023 will bring us all…(“What could it be???…so exciting!” : )
Happy New Year to all our Property Blotter readers! We’ll catch you up on all the Lake Oswego Real Estate Happenings next week.
Whether you celebrate Christmas, Kwanzaa, Hanukkah, Solstice or a combination, Dianne and I wish you a peaceful & cozy holiday filled with warmth and loved-ones.
We’re taking a little break as we always do, and will catch you up with all the happenings in a couple of weeks.
This is our monthly look at the overall Portland area and neighborhoods including Lake Oswego broken out below:
Overview/Fluctuations ~ November Market Data:
Inventory continues to increase and prices remain somewhat stable with many areas/neighborhoods of Portland rising from the previous month & some lowering a bit. Actual activity dropping in New Listings, Accepted Offers (Pendings) & Closed Sales from both the previous month (seasonal) & last year (likely adjusting for interest rate fluctuations).
“Real Estate remains the #1 asset class as a protection against inflation.” Brian Buffini
Rates: “Rates have been improving with inflation pressures easing. Right now 30-year fixed rates are in the low 6% range.” Gary Boyer, Regional VP, Directors Mortgage
According to the RMLS Market Action Report for the Portland Metro Area-Nov 2022:
There were 1,666 New Listings in Nov 2022 – down 25.3% from 2,229 in Nov 2021 and down 33.7% from the previous month/Oct’s 2,513.
At 1,621 Nov 2022’s Closed Sales (Solds) are down 42.8% from Nov 2021’s 2,832, and down 17.1% from the previous month/Oct 2022’s total of 1,955.
At 1,498 Nov 2022’s Pending Sales (accepted Offers) are down 43.7% from Nov 2021’s 2,660, and also down 18.4% from the previous month/Oct’s total of 1,835.
The Average Sale Price in November 2022 of, $584,600 is up $9,000 from last year/Nov 2021’s $575,600, and down $7,400 from the previous month/Oct’s $592,000.
The “Median” Sale Price (the price smack dab in the middle of all sales) in November 2022 of $525,900 is up $8,100 over last year/Nov 2021’s $517,800, and down $11,100 from the previous month’s $537,000.
LAKE OSWEGO (November 2022):
173 Active Listings (Oct 177) 73 New Listings (Oct 101) 48 Pending Sales (Oct 93) 69 Closed Sales (Oct 96) Average Sale Price for Nov: $1,003,400 (Oct $933,800) 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. 42 Days on the Market (Oct 38)
