Portland Real Estate Stats + LO ~ May 2022

Overview/Fluctuations ~  Market Data:

Listings, Accepted Offers and Sales are up overall from the prior month and a bit down from last May. Most neighborhoods in the Portland area saw their Average Price rising over the previous month, and Inventory is finally back up to where it was last August, which is still historically low.    

Of course the big story at this moment is rates:

Rates: “The market has experienced a dramatic move higher as the Federal Reserve fights inflation. Currently 30-year fixed rates are right at 6.0%”     Gary Boyer, Regional VP, Directors Mortgage                                                                                                                                                                                                                                          

According to the RMLS Market Action Report  for the Portland Metro Area-May 2022:

  • There were 3,853 New Listings in May 2022 decreased 3.0% from May of 2021’s 3,971, and increased 4.6% from the previous month/April’s 3,684.
  • At 2,916  May 2022’s Closed Sales are down 8.4% from May 2021’s 3,183, and up 4.8% from the previous month/April’s 2022’s total of 2,782
  • At 3,122 May 2022’s Pending Sales are down 16.0% from May 2021’s 3,717, and increased 3.9% over the previous month/April 2022’s total of 3,005.
  • The Average Sale Price in May 2022 of $649,600 is up $67,400 from last year/May 2021’s $582,200, and up $16,700 from the previous month/April’s $632,900.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in May2022 of $575,000 rose from last year/May 2021’s $515,000 by $60,000, and $15,000 from the previous month/April’s $560,000.

LAKE OSWEGO:

137 Active Listings (Apr 103)
193 New Listings  (Apr 169)
153 Pending Sales (Apr 144)
146 Closed Sales  (Apr 133)
Average Sale Price for May: $1,028,600 (Apr $998,600)
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.
19 Days on the Market   (Apr 26)

Market Activity ~ June 13-19, 2022

Last week Lake Oswego saw 15 properties enter the market, 25 move to Pending status, and 16 Sold/Closed. Right now there are 94 properties available ranging from $275,000 to $7.25 mil.

NEW June 13-19, 2022

AddressList PriceBedsBathsSFProp Type
13504 STREAMSIDE DR$599,00032.11710DETACHD
17210 CEDAR RD$685,000321549DETACHD
732 2ND ST$819,000532763DETACHD
4973 PARKHILL ST$899,90032.12106DETACHD
2964 OVERLOOK DR$925,000432230DETACHD
568 WEIDMAN CT$999,990532946DETACHD
6 ADAMS CT$1,200,00052.13731DETACHD
13556 TWIN CREEK LN$1,275,00043.13702DETACHD
11 DA VINCI ST$1,300,000433746DETACHD
5236 LOWER DR$1,369,00042.13467DETACHD
13 BUCKINGHAM TER$1,390,00042.14473DETACHD
5324 LOWER DR$1,499,90053.13770DETACHD
1695 HALLINAN ST$1,597,00042.13306DETACHD
2365 PALISADES CREST DR$2,399,00043.13547DETACHD
5342 RED LEAF ST$2,785,000553548DETACHD

PENDING June 13-19, 2022

AddressList PriceBedsBathsSFProp TypeDays
4 TOUCHSTONE #84$209,900221012CONDO4
668 MCVEY AVE #77$275,00001485CONDO4
4000 CARMAN DR #40$300,00022906CONDO10
4 TOUCHSTONE #85$330,70332.11351CONDO8
12868 BOONES FERRY RD$495,00022.11136CONDO6
4510 LOWER DR$575,00032.11729CONDO8
14316 HOLLY SPRINGS RD$599,90032.11325DETACHD4
17635 DEEMAR WAY$685,000421488DETACHD14
980 LUND ST$715,000321833DETACHD14
2736 SW ORCHARD HILL PL$749,00032.12556DETACHD31
4527 TRILLIUM WOODS$887,77032.12273ATTACHD3
5324 LOWER DR$899,90032.12106DETACHD2
15213 CANDLEWOOD CT$950,00042.12757DETACHD25
2291 WEMBLEY PARK RD$999,50032.12150DETACHD11
13 BUCKINGHAM TER$999,990532946DETACHD4
4015 Canal Woods CT$1,295,90043.13721DETACHD5
13556 TWIN CREEK LN$1,390,00042.14473DETACHD3
100 LEONARD ST #4-2$1,395,00032.13137CONDO18
2671 GLEN EAGLES RD$1,895,000334014DETACHD42
688 6TH ST$1,940,00042.12939DETACHD4
3578 CARMAN DR$2,200,00053.14000DETACHD118
720 6TH ST$2,300,00043.14601DETACHD10
14655 UPLANDS DR$3,300,00055.24775DETACHD211
3015 WEMBLEY PARK RD$3,385,00054.15211DETACHD50
1475 CHANDLER RD$3,495,00044.14863DETACHD3

SOLD June 13-19, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
47 EAGLE CREST DR #48-C$260,000$260,00011696CONDO6
200 BURNHAM RD #406$340,000$340,000211199CONDO19
12038 SW ORCHARD HILL WAY$745,000$725,000322174DETACHD12
4774 OAKRIDGE RD$749,900$750,000312104DETACHD5
19125 LONGFELLOW AVE$715,000$762,000422227DETACHD6
32 Greenridge CT #32$774,900$765,00032.12219ATTACHD4
1960 MAPLELEAF RD$724,900$800,000321452DETACHD2
1225 CORNELL ST$699,000$850,000321395DETACHD1
1249 LARCH ST$899,000$896,700443654DETACHD15
4198 GLACIER LILY ST$1,100,000$1,075,000432806DETACHD5
5674 Charles CIR$1,050,000$1,162,00042.12632DETACHD5
14061 TAYLORS CREST LN$1,199,000$1,199,00042.12942DETACHD6
362 9TH ST$1,450,000$1,260,00032.12018DETACHD64
15804 ALLISON PL$1,538,000$1,305,00042.13662DETACHD32
2886 UPPER DR$1,290,000$1,520,000432674DETACHD2
1041 C AVE$2,095,000$2,325,45054.13291DETACHD2
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) .

Market Activity ~ May 30-June 5, 2022

Last week saw 18 properties enter the market, 18 move to Pending status and 18 Sold/Closed. There are currently 98 properties available in Lake Oswego ranging in price from from $192,000 to 7.25 mil.

Here is the breakdown according to RML data:

NEW May 30-June 5, 2022

AddressList PriceBedsBathsSFProp Type
47 EAGLE CREST DR #48C$260,00011696CONDO
17635 DEEMAR WAY$685,000421488DETACHD
980 LUND ST$725,000321833DETACHD
639 1ST ST$749,90022.11391ATTACHD
5499 ROYAL OAKS DR$786,000321817DETACHD
19057 OLSON AVE$899,00042.12464DETACHD
71 TOUCHSTONE$925,000432274DETACHD
2291 WEMBLEY PARK RD$999,50032.12150DETACHD
29 DEL PRADO ST$1,050,000423037DETACHD
2775 VALE CT$1,100,00042.12805DETACHD
5322 CARMAN GROVE LN$1,200,00032.12647DETACHD
927 OAK ST$1,330,00053.12864DETACHD
100 LEONARD ST #4-2$1,395,00032.13137CONDO
14472 PFEIFER DR$1,495,00042.13567DETACHD
725 OAK MEADOW CT$1,625,00042.23753DETACHD
1643 VILLAGE PARK LN$1,625,00043.14505DETACHD
908 BICKNER ST$1,995,00043.13483DETACHD
4694 UPPER DR$2,300,000333637DETACHD

PENDING May 30-June 5, 2022

AddressList PriceBedsBathsSFProp TypeDays
45 EAGLE CREST DR #513$205,00021.11056CONDO110
4 TOUCHSTONE #119$239,90032.11351CONDO32
47 EAGLE CREST DR #48-C$260,00011696CONDO6
1797 FERN PL$714,900321727DETACHD23
12038 SW ORCHARD HILL WAY$745,000322174DETACHD12
1571 WOODLAND TER$799,000422400DETACHD366
18892 ARROWWOOD AVE$850,000422229DETACHD4
659 LIVINGOOD LN$899,000422516DETACHD4
5550 BAY CREEK DR$915,00042.12449DETACHD6
71 TOUCHSTONE$925,000432274DETACHD2
3902 TAMARACK LN$1,050,00042.12553DETACHD4
5336 LOWER DR$1,095,00032.12549DETACHD18
4198 GLACIER LILY ST$1,100,000432806DETACHD5
4222 COBB WAY$1,225,000432243DETACHD20
927 OAK ST$1,330,00053.12864DETACHD2
520 C AVE$1,478,00033.13242ATTACHD9
2600 DELLWOOD DR$1,599,900433690DETACHD242
937 9TH ST$2,250,00053.13862DETACHD448

SOLD May 30-June 5, 2022

AddressOpeningClosedBedsBathsTotal SFProp TypeDays
86 KINGSGATE RD E103$370,000$370,00022924CONDO5
1531 BONNIEBRAE DR$489,900$484,90031.11303ATTACHD32
1674 FIRCREST DR$649,000$650,000421998DETACHD5
18963 SW LONGFELLOW AVE$649,000$668,00031.11232DETACHD6
5342 BONITA RD$700,000$690,00031.11392DETACHD21
164 KINGSGATE RD$689,000$710,000321781DETACHD5
18 NORTHVIEW CT$750,000$732,79833.12717ATTACHD9
13855 VERTE CT$799,900$740,00032.11835DETACHD22
1299 HIDE A WAY LN$849,900$834,584321893DETACHD10
3130 DUNCAN DR$899,000$905,00063.13007DETACHD2
5750 WASHINGTON CT$869,000$925,00032.12430DETACHD4
4686 WINTHROP CT$895,000$1,011,00042.12238DETACHD3
208 DURHAM ST$1,250,000$1,260,000422792DETACHD6
670 1ST ST$1,259,000$1,350,00032.12767CONDO2
17600 UPPER CHERRY LN$2,100,000$1,975,00043.13905DETACHD324
4235 LORDS LN$2,500,000$2,500,00043.13705DETACHD3
13078 FIELDING RD$3,150,000$2,700,000433596DETACHD161
548 RIDGEWAY RD$3,195,000$2,875,000533498DETACHD32
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) .

Market Activity ~ May 16-22, 2022

Last week we saw 29 properties enter the market, 18 move to Pending status, & 28 that Closed/Sold. Right now there are 85 lovely homes available in Lake Oswego ranging from $199,000 to $7.25 mil

Here is the breakdown according to RMLS:

NEW May 16-22, 2022

AddressList PriceBedsBathsSFProp Type
45 Eagle Crest Dr #504$240,00011768CONDO
45 SW EAGLE CREST DR #510$255,00011830CONDO
44 EAGLE CREST DR #34$295,000321085CONDO
196 CERVANTES$369,00021.11241CONDO
5062 FOOTHILLS DR, F$445,000221252CONDO
5650 CHILDS RD$599,900321980DETACHD
6030 SW SHAKESPEARE ST$669,000311056DETACHD
4753 SW DAWN ST$700,000321550DETACHD
1700 YARMOUTH CIR$725,000221477DETACHD
12038 SW ORCHARD HILL WAY$745,000322174DETACHD
4774 OAKRIDGE RD$749,900312104DETACHD
570 2ND ST$750,00022.11464ATTACHD
3205 EDGEMONT RD$774,90032.12028DETACHD
2736 SW ORCHARD HILL PL$849,00032.12556DETACHD
15213 CANDLEWOOD CT$950,00042.12757DETACHD
12431 SW ORCHARD HILL RD$960,00043.12724DETACHD
5563 BAY CREEK DR$995,00042.12913DETACHD
4 SCARBOROUGH DR$998,00042.13233DETACHD
4331 SUNDEW CT$1,099,00032.12790DETACHD
15569 VILLAGE PARK CT$1,150,00032.12755DETACHD
16018 WALUGA DR$1,150,000422200DETACHD
19330 RIVER RUN DR$1,175,000443786DETACHD
13324 BOONES FERRY RD$1,195,00042.13386DETACHD
208 DURHAM ST$1,250,000422792DETACHD
2886 UPPER DR$1,290,000432674DETACHD
17953 SAINT CLAIR DR$1,299,90073.15438DETACHD
642 8TH ST$1,995,00042.23293DETACHD
530 MIDDLECREST RD$2,098,000333084DETACHD
697 LAKE BAY CT$2,595,00044.13715DETACHD

PENDING May 16-22, 2022

AddressList PriceBedsBathsSFProp TypeDays
100 KERR PKWY #54$173,00011617CONDO5
45 SW EAGLE CREST DR #510$255,00011830CONDO2
4000 CARMAN DR #3$279,00011836CONDO3
4 TOUCHSTONE #77$330,00032.11351CONDO8
6331 SHAKESPEARE ST$519,90031.1992DETACHD30
18963 SW LONGFELLOW AVE$649,00031.11232DETACHD6
43 LADD ST$699,500522632DETACHD7
16393 KIMBALL ST$705,000321522DETACHD4
19125 LONGFELLOW AVE$715,000422227DETACHD6
22 JUAREZ ST$950,00042.13096DETACHD5
13865 TAYLORS CREST LN$950,00042.12532DETACHD18
5563 BAY CREEK DR$995,00042.12913DETACHD3
4 SCARBOROUGH DR$998,00042.13233DETACHD3
5674 Charles CIR$1,050,00042.12632DETACHD5
14061 TAYLORS CREST LN$1,199,00042.12942DETACHD6
2886 UPPER DR$1,290,000432674DETACHD2
362 9TH ST$1,350,00032.12018DETACHD64
224 IRON MOUNTAIN BLVD$1,795,000432964DETACHD4

SOLD May 16-22, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
4631 Lakeview BLVD / Grnd$239,000$210,00011753CONDO69
45 EAGLE CREST DR #211$249,900$225,000221046CONDO89
3433 MCNARY PKWY #208$299,000$336,000221008CONDO3
182 OSWEGO SMT / Upper$290,000$345,000221516CONDO4
86 KINGSGATE RD D105$349,950$347,50022924CONDO9
3920 CARMAN DR$419,900$385,00022.11098CONDO15
4000 CARMAN DR C49$375,000$400,00011.11004CONDO7
668 MCVEY AVE #10$540,000$540,00031992CONDO44
668 MCVEY AVE #63$575,000$575,00021852CONDO21
114 TOUCHSTONE TER$640,000$580,500331964ATTACHD23
4752 REMBRANDT LN$700,000$700,00032.11641DETACHD6
135 KINGSGATE RD$699,000$775,00032.11720DETACHD6
36 GREENRIDGE CT$795,000$810,000432250ATTACHD35
19 WALKING WOODS DR$749,900$850,000322513DETACHD4
1825 CEDAR CT$700,000$870,000321664DETACHD3
762 9TH ST$799,500$910,000221281DETACHD4
1435 GREENTREE CIR$899,000$915,00042.12269DETACHD8
12860 SIERRA VISTA DR$880,000$1,110,000322307DETACHD2
126 DEL PRADO ST$985,000$1,150,00053.13932DETACHD4
19653 RIVER RUN DR$1,088,000$1,225,70042.12617DETACHD4
5542 DUNMIRE DR$1,015,000$1,254,00042.13256DETACHD4
5175 SW FIRWOOD RD$1,199,999$1,265,000322117DETACHD4
364 NORTHSHORE RD$1,200,000$1,350,000322066DETACHD1
4867 UPPER DR$1,349,000$1,375,000532956DETACHD5
18058 PILKINGTON RD$1,538,999$1,608,999433225DETACHD3
17448 OAK MEADOW LN$1,520,000$1,745,00042.13380DETACHD3
3115 WEMBLEY PARK RD$2,000,000$2,150,00043.13800DETACHD8
17230 Lake Haven DR$2,100,000$2,300,00032.13766DETACHD6
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) .

Market Activity ~ May 2-8, 2022

Last week Lake Oswego saw 16 properties enter the market, 24 move to Pending status, and 14 Closed/Sold.

Right now there are 61 properties to choose from ranging from $195,000 to $7.25 mil.

NEW May 2-8, 2022

AddressList PriceBedsBathsSFProp Type
47 EAGLE CREST DR #37$229,00011672CONDO
47 EAGLE CREST DR #20$280,000211009CONDO
86 KINGSGATE RD E103$370,00022924CONDO
2 MOUNTAIN CIR$499,00021.11372ATTACHD
4363 WOODSIDE CIR$581,950321532ATTACHD
16661 LAKE FOREST BLVD$585,00031936DETACHD
164 KINGSGATE RD$689,000321781DETACHD
17311 MANDI LN$695,00042.11779DETACHD
18440 SANDPIPER CIR$789,000321447DETACHD
343 3RD ST$935,00033.12101ATTACHD
4089 ORCHARD WAY$995,00042.12743DETACHD
19653 RIVER RUN DR$1,088,00042.12617DETACHD
13865 TAYLORS CREST LN$1,100,00042.12532DETACHD
19460 SW EASTSIDE RD$1,299,00053.24521DETACHD
5006 UPPER DR$1,499,90043.13284DETACHD
2671 GLEN EAGLES RD$1,895,000334014DETACHD

PENDING May 2-8, 2022

AddressList PriceBedsBathsSFProp TypeDays
45 EAGLE CREST DR #316$200,00011600CONDO168
47 EAGLE CREST DR #37$229,00011672CONDO0
45 EAGLE CREST DR #211$239,900221046CONDO89
47 EAGLE CREST DR #20$280,000211009CONDO3
3920 CARMAN DR$419,90022.11098CONDO15
1531 BONNIEBRAE DR$489,90031.11303ATTACHD32
2 MOUNTAIN CIR$499,00021.11372ATTACHD4
1674 FIRCREST DR$649,000421998DETACHD5
66 Wheatherstone$650,00043.12500CONDO8
5970 KENNYCROFT WAY$650,000321212DETACHD5
5342 BONITA RD$699,90031.11392DETACHD21
5710 WINDFIELD LOOP$699,900331822DETACHD6
36 GREENRIDGE CT$794,900432250ATTACHD35
5875 BONITA RD$839,00063.12650DETACHD24
17423 SCHALIT WAY$849,00042.12442DETACHD6
1299 HIDE A WAY LN$849,900321893DETACHD10
5750 WASHINGTON CT$869,00032.12430DETACHD4
4686 WINTHROP CT$895,00042.12238DETACHD3
343 3RD ST$935,00033.12101ATTACHD3
17865 SARAH HILL LN$1,099,95042.12871DETACHD5
5175 SW FIRWOOD RD$1,199,999322117DETACHD4
820 FAIRWAY RD$1,930,00043.13758DETACHD2
4460 UPPER DR$2,604,46043.14081DETACHD39
548 RIDGEWAY RD$2,995,000533498DETACHD32

SOLD May 2-8, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
668 MCVEY AVE #15$224,900$224,90011636CONDO2
47 EAGLE CREST DR #7$259,900$270,00021932CONDO4
47 EAGLE CREST DR #13$259,000$278,00021932CONDO27
317 CERVANTES / Grnd$330,000$382,000221209CONDO21
5838 LANGFORD LN$699,000$691,000331811DETACHD3
4813 REDWING WAY$699,900$745,000422092DETACHD2
17721 ARBOR LN$785,000$800,000321521DETACHD4
181 3RD ST #5$995,000$987,987221523CONDO4
1432 GREENTREE CIR$859,900$1,002,000432792DETACHD5
18108 HOBBIT CT$1,289,000$1,289,00032.13780DETACHD6
3781 TEMPEST DR$1,250,000$1,300,00042.13927DETACHD4
5863 SUNCREEK DR$1,295,000$1,570,000333302DETACHD1
603 ATWATER RD$1,750,000$1,720,00043.13430DETACHD4
4579 UPPER DR$2,250,000$2,250,00043.13701DETACHD3
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) .

Market Activity ~ April 18-24, 2022

This last week saw 23 New properties enter the market, 13 move to Pending status, and 24 Closed/Sold. Right now there are 68 properties available in Lake Oswego ranging from 195,000 to 7.25 mil.

NEW Apr 18-24, 2022

AddressList PriceBedsBathsSFProp Type
1979 COUNTRY CLUB RD$299,000221008CONDO
4405 THUNDER VISTA LN$395,500221506CONDO
3970 CARMAN DR$419,90022.11098CONDO
32 CONDOLEA DR / Grnd$434,00022.11197CONDO
210 OSWEGO SMT #210$469,000221448CONDO
1875 CREST DR$472,50022.11922CONDO
6331 SHAKESPEARE ST$519,90031.1992DETACHD
670 1ST ST$525,000221420CONDO
18554 HALLBERG CT$529,000321799ATTACHD
355 6TH ST$599,00032.11885DETACHD
3433 MCNARY PKWY #208$675,000321656DETACHD
3920 CARMAN DR$699,90031.11220DETACHD
5542 DUNMIRE DR$764,000421866DETACHD
18413 DEER OAK CIR$799,500221281DETACHD
762 9TH ST$829,00042.12252DETACHD
18084 WESTMINSTER DR$975,00033.12362ATTACHD
2088 CREST DR$1,015,00042.13256DETACHD
4206 WOODSIDE CIR$1,259,00032.12767CONDO
17596 OAK MEADOW LN$1,549,00053.15020DETACHD
5172 GREENSBOROUGH CT$1,599,00055.14143DETACHD
24 CONDOLEA DR / Grnd$1,599,00032.12844DETACHD
10 EAGLE CREST DR$1,995,00043.13957DETACHD
1474 GREENTREE CIR$7,250,00046.18259DETACHD

PENDING Apr 18-24, 2022

AddressList PriceBedsBathsSFProp TypeDays
4 TOUCHSTONE #69$239,90032.11351CONDO29
47 EAGLE CREST DR #7$259,90021932CONDO4
182 OSWEGO SMT / Upper$290,000221516CONDO4
3970 CARMAN DR$434,00022.11197CONDO5
5073 W SUNSET DR$515,00022.11720ATTACHD6
668 MCVEY AVE #63$575,00021852CONDO21
135 KINGSGATE RD$699,00032.11720DETACHD6
18554 HALLBERG CT$699,90031.11220DETACHD3
19 WALKING WOODS DR$749,900322513DETACHD4
181 3RD ST #5$995,000221523CONDO4
670 1ST ST$1,259,00032.12767CONDO2
17596 OAK MEADOW LN$1,599,00032.12844DETACHD2
17600 UPPER CHERRY LN$2,100,00043.13905DETACHD324

SOLD Apr 18-24, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY #52$229,000$170,00011617CONDO9
3930 LAKE GROVE AVE #2A$249,000$275,00021956CONDO4
3433 MCNARY PKWY #107$289,500$307,000221008CONDO3
224 RIDGEWAY RD / Upper$325,000$333,00011756CONDO6
5626 FERNBROOK WAY$574,960$610,00031.11250DETACHD2
5832 BENFIELD CT$575,000$634,00031.11336DETACHD4
1474 GREENTREE CIR$675,000$675,000321656DETACHD0
4200 OLD GATE RD$550,000$685,00031.11453DETACHD4
852 5TH ST$675,000$700,00021738DETACHD2
17763 MARDEE AVE$741,900$724,000532110DETACHD19
13700 PROVINCIAL HILL DR$725,000$800,00042.12078DETACHD2
12962 KNAUS RD$829,000$835,35032.11952DETACHD268
14 PARTRIDGE LN$668,000$838,000332658DETACHD5
4870 CENTERWOOD ST$839,900$840,00042.12434DETACHD5
17101 CAMPUS WAY$865,000$875,000433367DETACHD8
1150 GREENTREE RD$965,000$1,025,00041.22703DETACHD5
14580 UPLANDS DR$925,000$1,230,000332120DETACHD4
1001 CEDAR ST$1,495,000$1,340,00043.12572DETACHD14
1050 SCHUKART LN$1,399,900$1,455,00043.15847DETACHD4
4030 CANAL WOODS CT$1,380,000$1,500,000544103DETACHD4
734 CARRERA LN$1,295,000$1,510,00042.13898DETACHD4
1875 CREST DR$1,995,000$1,995,00043.13957DETACHD0
13725 CAMEO CT$2,450,000$2,300,00054.14984DETACHD14
1075 LAKE FRONT RD$5,500,000$5,300,00054.14562DETACHD0
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) .

Market Activity ~ April 4-10, 2022

This last week Lake Oswego saw 25 New properties enter the market, 28 move to Pending status, and 11 to Closed/Sold. Right now there are 57 properties available in Lake Oswego ranging from $195,000 to $7.2 Mil.

Here is a snapshot of what happened according to RMLS:

NEW April 4-10, 2022

AddressList PriceBedsBathsSFProp Type
4 TOUCHSTONE #124$320,00032.11351CONDO
86 KINGSGATE RD, D105$349,95022924CONDO
4000 CARMAN DR, C49$375,00011.11004CONDO
6025 KENNY ST$599,00031.11254DETACHD
1726 CONIFER DR$689,000521800DETACHD
4813 REDWING WAY$699,900422092DETACHD
18 NORTHVIEW CT$750,00033.12717ATTACHD
13855 VERTE CT$799,90032.11835DETACHD
16053 LAKE FOREST BLVD$799,950422100DETACHD
16525 GLENWOOD CT$890,00032.12298DETACHD
1435 GREENTREE CIR$899,00042.12269DETACHD
14580 UPLANDS DR$925,000332120DETACHD
2525 DELLWOOD DR$950,000532836DETACHD
126 DEL PRADO ST$985,00053.13932DETACHD
920 CAPILANO CT$999,00032.12887DETACHD
1909 PALISADES TERRACE DR$1,150,00033.13100DETACHD
19505 OLSON AVE$1,250,00052.13022DETACHD
14190 TAYLORS CREST LN$1,299,00052.12961DETACHD
4867 UPPER DR$1,349,000532956DETACHD
15804 ALLISON PL$1,538,00042.13662DETACHD
18058 PILKINGTON RD$1,538,999433225DETACHD
603 ATWATER RD$1,750,00043.13430DETACHD
17600 UPPER CHERRY LN$2,100,00043.13905DETACHD
17230 Lake Haven DR$2,100,00032.13766DETACHD
6319 WASHINGTON CT$2,200,000443854DETACHD

PENDING April 4-10, 2022

AddressList PriceBedsBathsSFProp TypeDays
4 SW TOUCHSTONE DR #150$220,00022984CONDO59
668 MCVEY AVE #15$224,90011636CONDO2
45 EAGLE CREST DR #309$229,900221056CONDO28
47 EAGLE CREST DR #13$275,00021932CONDO27
3958 CARMAN DR / Grnd$434,90022.11133CONDO15
6321 ALYSSA TER$515,00032.11546ATTACHD5
668 MCVEY AVE #63$575,00021852CONDO7
2091 BONNIEBRAE DR / Grnd$625,00032.11792CONDO6
4 PREAKNESS CT$650,000321985ATTACHD36
14 PARTRIDGE LN$668,000332658DETACHD5
4813 REDWING WAY$699,900422092DETACHD2
17721 ARBOR LN$785,000321521DETACHD4
2542 SW ORCHARD HILL LN$790,000321754DETACHD4
16053 LAKE FOREST BLVD$799,950422100DETACHD3
1432 GREENTREE CIR$859,900432792DETACHD5
17101 CAMPUS WAY$865,000433367DETACHD8
920 CAPILANO CT$999,00032.12887DETACHD3
14760 UPLANDS DR$999,000432772DETACHD6
1909 PALISADES TERRACE DR$1,150,00033.13100DETACHD3
26 BRIARWOOD RD$1,249,000432554DETACHD19
19505 OLSON AVE$1,250,00052.13022DETACHD2
3781 TEMPEST DR$1,250,00042.13927DETACHD4
734 CARRERA LN$1,295,00042.13898DETACHD4
17897 SUNDOWN CT$1,675,000533755DETACHD45
13636 GOODALL RD$2,395,00044.14380DETACHD7
13078 FIELDING RD$2,795,000433596DETACHD161
15508 DIAMOND HEAD RD$3,480,000343900DETACHD227
14390 UPLANDS DR$5,795,00044.17839DETACHD21

SOLD April 4-10, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
15483 Brianne CT$415,000$440,00022.11208ATTACHD2
210 S STATE ST #7$449,900$485,000321302CONDO4
6025 CARMAN DR$699,900$690,000321641DETACHD4
1625 MEADOWS DR$750,000$810,000421672DETACHD4
412 LIVINGOOD LN$1,072,698$989,25552.13880DETACHD10
17348 HUNTER CT$929,000$1,005,00032.13112DETACHD4
15562 HERITAGE CT$864,000$1,198,32342.12338DETACHD5
928 LAKE FRONT RD$1,299,900$1,405,000432468DETACHD6
3938 EDENS EDGE DR$1,450,000$1,662,00043.13880DETACHD4
411 RIDGEWAY RD$1,725,000$1,800,00032.13291DETACHD3
13041 KNAUS RD$4,198,000$3,650,00044.14924DETACHD91
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.

Portland Area Real Estate Stats + LO ~ Feb 2022

Here is your look at what’s been happening in the overall Portland area including individual areas of the metro, and with Lake Oswego broken out below:

Overview/Fluctuations ~

Market Data February 2022:                         

In the first two months of 2022 as compared with the same period in 2021, New Listings have decreased 3.6%, Pending Sales have slightly increased at 0.6% and Closed Sales decreased 1.0%.        Supply is still the drama queen affecting the local market and remains at historic lows, meaning Buyers are in heavy competition over what’s available. The other factor is rates. They are going to be going up, and not likely coming back down as low as they’ve been anytime soon, so if you’re wanting to purchase a home, it would be a good idea not to put it off.

Rates: “We have seen extreme volatility in the markets over the last few weeks. Right now 30-year fixed rates stand at about 4.125%.” Gary Boyer, Regional VP, Directors Mortgage                                                                                                                                                                                                                                          

According to the RMLS data  for the Portland Metro Area- Feb 2022:

  • There were 2,571 New Listings in Feb 2022 increased 3.9% from Feb of 2021’s 2,474,  and increased 11.4% from the previous month/Jan’s 2,307.
  • At 1,939  Feb 2022’s Closed Sales are down 2.0% from Feb 2021’s 1,978, and up 4.6% from the previous month/Jan 2022’s total of 1,853
  • At 2,452 Feb 2022’s Pending Sales are up 11.1% from Feb 2021’s 2,208, and up 7.2% from the previous month/Jan 2022’s total of 2,287.
  • The Average Sale Price in Feb 2022 of $582,200 is up $40,200 from last year/Feb 2021’s $542,000, and down a bit at $4,400 from the previous month/Jan’s $586,600.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Feb 2022 of $525,000 rose from last year/Feb 2021’s $479,100 by $45,900, and $13,000 from the previous month/Jan’s $512,000.

LAKE OSWEGO:

60 Active Listings (Jan 61)
110 New Listings  (Jan 83)
103 Pending Sales (Jan 78)
66 Closed Sales  (Jan 82)
Average Sale Price for Feb: $890,200 (Jan $1,054,400)
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.
25 Days on the Market   (Jan 29)

Market Activity ~ March 14-20, 2022

Last week Lake Oswego saw 13 properties come on the market, 17 move to Pending status and 19 Closed/Sold. There are currently 44 homes available in Lake Oswego ranging from $200,000 to $5.8mil.

NEW March 14-20, 2022

AddressList PriceBedsBathsSFProp Type
100 KERR PKWY #52$229,00011617CONDO
3433 MCNARY PKWY #107$289,500221008CONDO
224 RIDGEWAY RD / Upper$325,00011756CONDO
5211 MADRONA ST$574,900322042DETACHD
5832 BENFIELD CT$575,00031.11336DETACHD
4902 CHILDS RD$700,00031.11370DETACHD
412 LIVINGOOD LN$1,072,69852.13880DETACHD
1640 OAK ST$1,160,00042.13301DETACHD
18108 HOBBIT CT$1,289,00032.13780DETACHD
362 9TH ST$1,450,00032.12018DETACHD
4929 Park Bluff PL$2,600,00043.14067DETACHD
1075 LAKE FRONT RD$5,500,00054.14562DETACHD
14390 UPLANDS DR$5,795,00044.17839DETACHD

PENDING March 14-20, 2022

AddressList PriceBedsBathsSFProp TypeDays
6025 CARMAN DR$699,900321641DETACHD4
4870 CENTERWOOD ST$839,90042.12434DETACHD5
17348 HUNTER CT$929,00032.13112DETACHD4
1004 CUMBERLAND PL$1,100,000523313DETACHD4
12715 ADRIAN CT$1,150,00042.13003DETACHD3
1640 OAK ST$1,160,00042.13301DETACHD3
18108 HOBBIT CT$1,289,00032.13780DETACHD6
4030 CANAL WOODS CT$1,380,000544103DETACHD4
2612 RIVENDELL RD$1,389,900433521DETACHD4
1050 SCHUKART LN$1,399,90043.15847DETACHD4
735 7th ST$1,725,00033.13073DETACHD5
1949 CHERYL CT$1,750,00054.25011DETACHD4
3115 WEMBLEY PARK RD$2,000,00043.13800DETACHD8
13725 CAMEO CT$2,195,000.0054.14984DETACHD14
3578 CARMAN DR$2,200,000.0053.14000DETACHD27
4929 Park Bluff PL$2,600,000.0043.14067DETACHD
1075 LAKE FRONT RD$5,500,000.0054.14562DETACHD0

SOLD March 14-20, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
45 EAGLE CREST DR #312$229,000$214,00011780CONDO16
12 CERVANTES CIR$260,000$305,00021.1912CONDO206
750 1ST ST E27$615,900$478,500221350CONDO162
2806 SW ORCHARD HILL PL$649,000$649,00032.12324DETACHD5
959 LEE ST$719,000$665,000322340DETACHD42
3 MOUNTAIN CIR$675,000$730,000321580ATTACHD4
16946 LOWER MEADOWS DR$839,900$839,90032.11769DETACHD3
48 HILLSHIRE DR$795,500$955,000433034DETACHD5
1770 HEADLEE LN$879,000$970,745232505DETACHD4
4 WESTMINSTER DR$895,000$1,130,000432258DETACHD6
2719 GREENTREE RD$985,000$1,150,00053.13886DETACHD5
14232 MEADOW GRASS ST$1,100,000$1,249,000432894DETACHD4
3778 RIVERS EDGE DR$1,150,000$1,365,00043.13012DETACHD5
18002 PILKINGTON RD$1,599,000.00$1,600,000433629DETACHD3
2305 GLEN HAVEN RD$2,175,000.00$2,275,000543632DETACHD82
17486 REDFERN AVE$2,175,000.00$2,288,800543632DETACHD4
3817 UPPER DR$2,350,000.00$2,615,00053.14246DETACHD4
1845 HIGHLANDS LOOP$2,995,000$3,100,00043.25306DETACHD3
2812 LAKEVIEW BLVD$3,399,900$3,400,00033.13100DETACHD14

Criteria: (RMLS DATA) 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.

Attached vs Condo, What’s the Difference?

I think that most people think that the word attached (also commonly called townhouse) is based upon the design of the property.  Either one or two story with no neighbor above or below. That is not the case. Attached does mean that you don’t have a neighor above or below, but, more importantly, it means that you own the dirt underneath.  Because you own the dirt, you are responsible for the upkeep and maintenance of the crawl space.

There is a huge advantage to purchasing an attached home. Besides not having someone living above you, it is much  easier to finance, which makes it easier to sell. Lenders treat attached houses just like any other house.

 

With a condo you own the interior walls and everything inside of those walls. The exterior walls, crawlspace, and roof are all part of the limited common areas of the home owners association.

Condos can be a little bit problamatic when it comes to financing.  Federal lending guidelines requre that at least 50% of the units be owner occupied, and one individual or entity can not own more than 10% of the units. Additionally, to be FHA financeable, the HOA must apply for and maintain their FHA eligibility. This is often neglected by the HOA and so it is not always availble. Because condos tend to be more affordable, they are often purchased by first time home buyers. With out FHA financing, it can be too hard for first ime buyers to come up with enough of a down payment to purchase in communities that don’t have FHA approval.

When Linda and I do the Market Activity Report, we always indicate if a property is Detached, Attached, or a Condo. I thought it would be helpful if you understood the differences.

As always, thanks for reading the Blotter,

Dianne