Market Activity ~Jan 17-23, 2022

Greetings Dear Property Blotter Readers! Last week we had just one property come to market, and that one was on the market in December/then something happened & it came back as available. It is a beautiful home! I used to live right up the hill from it and though it backs to a busy road, the landscaping and well-nurtured privacy they’ve created is really something to see. Plus, it is in a coveted spot in Palisades! It’s very near to where the Palisades Market used to be…I called it Planet Palisades as when you walked in the door (which I did often), the ambience and the people who worked there really did make your day…every time. There is a New Seasons slated to go in that space and I have a feeling they will carry that whole tradition forward. The 7 Dees landscaping nursery is also nearby, as is a really nice Thai dining place, as well as easy access on Stafford or South Shore or Hwy 43…its all close, and the list goes on. Check it out if you’re looking.

We also saw 11 properties move to Pending status, and 10 that Closed/Sold. Right now there are 36 properties available in Lake Oswego from $248,000 to $5.2.

Here is the breakdown for last week according to RMLS:

NEW Jan 17-23, 2022

AddressList Price# Beds# BathsTotal SFProp Type
1720 KILKENNY DR $        699,90032.11348DETACHD

PENDING Jan 17-23, 2022

AddressList Price# Beds# BathsTotal SFProp TypeDays
100 KERR PKWY  #38$185,00011628CONDO123
30 CRESTFIELD CT$290,00022989CONDO1
1719 ASPEN CT$575,000321444DETACHD49
16940 SW TRACY AVE$650,00041.21656DETACHD88
17763 MARDEE AVE$741,900532110DETACHD6
8 DA VINCI ST$779,000532906DETACHD4
19001 REDWING WAY$829,00032.12116DETACHD3
12962 KNAUS RD$829,00032.11952DETACHD230
14361 SHERBROOK PL$899,00032.12100DETACHD2
17095 WESTVIEW DR$985,000433356DETACHD2
13888 SHIREVA DR$1,200,00052.13827DETACHD4

SOLD Jan 17-23. 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY  #19$170,000$170,00011617CONDO52
200 SW Burnham RD  #203$299,000$296,000211199CONDO29
4429 THUNDER VISTA LN$479,900$455,00022.12002CONDO111
4 PREAKNESS CT$550,000$500,000321985ATTACHD32
4939 HAMPTON CT$895,000$900,00042.12971DETACHD62
41 AQUINAS ST$785,000$985,00043.13558DETACHD1
425 KENWOOD RD$1,090,000$1,140,00032.13527DETACHD6
223 Cornell CT$965,000$1,190,00053.13756DETACHD10
1913 CHERYL CT$1,895,000$1,699,00044.15341DETACHD103
4247 LORDS LN$2,650,000$2,275,00043.13785DETACHD115

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.

Market Activity ~ Jan 3-9, 2022

This first full week in the New Year we had only ONE property go on the market in Lake Oswego, and that one is a major fixer/possible rebuild over by George Rogers Park (per the Listing). In my Master’s Group, Realtors are begging each other to list the properties they have in their pockets. My guess is that Sellers are seeing the news of Omicron likely hitting peak soon to then taper off… and so are holding on a bit longer. IMHO there may be a flood of new properties hitting the market in the near future, and anyone in their right mind ought to list their property *now*. All in all, if you’re Buying… hold ‘yer horses! Things will change soon.

There were 11 properties that moved to Pending status and 16 that Closed/Sold last week as well. Right now there are 38 homes available in Lake Oswego.

Here is the data according to RMLS:

NEW Jan 3-9, 2022

AddressList Price# Beds# BathsTotal SFProp Type
143 CHURCH ST$700,000211220DETACHD

PENDING Jan 3-9, 2022

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
200 SW Burnham RD, #203$299,000211199CONDO29
4632 LOWER DR, B2$320,00021.11170CONDO19
16250 PACIFIC HWY, #75$355,000321593CONDO29
1694 BONNIEBRAE DR$415,00021864ATTACHD2
4325 SILVER CT / Upper$499,00032.11844CONDO49
1247 CEDAR ST$550,000322022DETACHD9
1719 ASPEN CT$575,000321444DETACHD31
302 LAUREL ST$679,000321907DETACHD6
770 5TH ST$975,00033.13180DETACHD45
17908 BLUE HERON DR$1,850,000344172DETACHD58
4247 LORDS LN$2,275,00043.13785DETACHD115

SOLD Jan 3-9, 2022

AddressOpening PriceClosed PriceBedsBathsSFProp TypeDays
100 KERR PKWY #51 $      179,000.00 $      186,000.0011617CONDO7
4 TOUCHSTONE  #76 $      234,900.00 $      228,000.0022984CONDO27
4610 LOWER DR / Main $      325,000.00 $      310,000.0021.11260CONDO22
86 KINGSGATE RD, E203 $      325,000.00 $      325,000.0022924CONDO3
4000 CARMAN DR  #92 $      349,000.00 $      349,000.0022999CONDO12
1455 HALLINAN ST $      639,900.00 $      650,000.0032.11325DETACHD5
8 PHEASANT RUN $      649,950.00 $      675,000.0042.11845DETACHD5
5431 BONITA RD $      859,000.00 $      835,000.00432784DETACHD15
548 4TH ST $  1,524,900.00 $  1,450,000.0034.13186ATTACHD103
19317 LORNA LN $  1,699,000.00 $  1,515,000.0054.14634DETACHD186
4118 GLACIER LILY ST $  1,499,500.00 $  1,625,000.0043.14452DETACHD3
312 9TH ST $  1,650,000.00 $  1,650,000.0032.12686DETACHD8
1155 CRESTLINE CT $  2,195,000.00 $  2,010,998.0054.17438DETACHD73
16847 GREENBRIER RD $  2,598,000.00 $  2,598,000.0032.12360DETACHD0
16767 GRAEF CIR $  2,950,000.00 $  2,700,000.0044.14222DETACHD13
1226 NORTHSHORE RD $  7,000,000.00 $  5,500,000.0045.16330DETACHD160
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.

Choosing a Home Inspector

There is a tendancy to shop for good value. It’s bread into us by the reality that making our dollars go further enhances our ability to invest and plan for the future. This is a good trait in people, but when it comes to home inspectors, you really do get what you pay for.

You can get a home inspection done for around $300-$400. The inspectors that I recommend charge twice that. So what’s the difference? Time, my friend. The difference is time.

The good inspectors book 1 or 2 inspections a day. The cheap inspectors book 3-4 a day. This means that in saving money you are probably hiring someone who is checking their watch and thinking that they need time to drive to the next appointment to get there on time.

You just don’t know what is going to turn up in a home inspection. Your inspector needs time to dwell on details and figure the house out. The two companies I recommend most highly are Associated Master Inspectors and Inspectek West. Both have mulitiple employees and anyone of them is terrific. In addition, AMI maintains a contractor list that is long and well vetted. Painters, asbestos abatement, electricians, you name it, they have it. For the AMI contractor list click here.

I want to assure you that I am not in kahoots with either company. I have attended many, many home inspections. I know what a good inspection looks like. In my entire career, I’ve never had a client come back to me after the sale with a horror story of something missed in the home inspection.

I also had a client a few years ago that was certain that I must be recommending people who would go easy on the house so that the sale would be more likely to happen. She hired an inspector who inspected the roof from the driveway. He did not even walk on the roof.

I want my clients to know what they are buying. If something so bad turns up that makes them change their mind about buying the house, I am happy it happened early in the process and that they didn’t buy a problem.

As always, thanks for reading the blotter,

Dianne

News & Notes ~ November Numbers 2021

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 Nov 2021:   

What I call the Black Hole of the Holidays is upon us! Meaning- while it is an amazing time to buy a home, there is also shrinking inventory even from the low levels we already had. So… great time to buy- just fewer homes available from which to choose. All that said, when you look at previous years, you can see inventory always takes a dip this time of year as both Buyers and Sellers become distracted with all the trappings of the season. So…nothing out of the ordinary, except for how low supply has fallen. Right now if you’re selling, you can be sure that the Buyers who are looking at your home are savvy, serious, and probably a bit sappy : ) That means…get the cookies in the oven and play those old timey holiday tunes in the background!

Rates: “Rates are being pushed up a bit with continued inflation concerns. Right now they are at about 3.375%.”   Gary Boyer, Regional VP, Directors Mortgage                                                                                                                            

According to the RMLS Market Action Report  for the Portland Metro Area, Nov 2021:

  • There were 2,229 New Listings in Nov 2021, down slightly at 0.4% from Nov 2020’s 2,238 and also down a whopping 31.0% from the previous month/Oct’s 3,232 (normal, seasonal stuff).
  • At 2,832, Nov 2021’s Closed Sales are up 3.2% from Nov 2020’s 2,745, and dropped 9.5% from the previous month/Oct’s total of 3,129
  • At 2,660, Oct 2021’s Pending Sales increased 4.0% from Nov 2020’s 2,557, and decreased 16.5% from the previous month/Oct’s total of 3,187.
  • The Average Sale Price in Nov 2021 of $575,600 is up $54,400 from last year/Nov 2020’s $521,200, and nearly the same as the previous month/Oct’s $575,200.   
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Nov 2021 of $517,800 rose $60,800 from last year/Nov 2020’s $457,000, and was also up $1,800 from the previous month/Oct’s $516,000.

LAKE OSWEGO:

92 Active Listings (Oct 138)
99 New Listings  (Oct 146)
124 Pending Sales (Oct 152)
134 Closed Sales    (Oct 142)
Average Sale Price for Nov: $964,300 (Oct $853,200)
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.
36 Days on the Market   (Oct 27)

Market Activity ~ Nov 29-Dec 5, 2021

This last week we saw 4 properties enter the market, 11 move to Pending status, and 23 Sold/Closed. Right now there are 59 homes in all price ranges available in Lake Oswego.

NEW Nov 29-Dec 5, 2021

AddressList Price# Beds# BathsTotal SFProp Type
12962 KNAUS RD$829,00032.11952DETACHD
17154 LOWENBERG TER$1,295,00053.13412DETACHD
13648 GOODALL RD$2,499,90044.25288DETACHD
13041 KNAUS RD$4,395,00044.14924DETACHD

PENDING Nov 29-Dec 5, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
4 TOUCHSTONE,  #76$228,00022984CONDO27
4000 CARMAN DR,  G108$249,00021767CONDO3
86 KINGSGATE RD,  E103$355,00022924CONDO66
4083 JEFFERSON PKWY$366,900221202CONDO8
1719 ASPEN CT$590,000321444DETACHD2
4104 LAKEVIEW BLVD$735,000422244DETACHD87
4080 COLTSFOOT LN$899,90042.12884DETACHD11
4118 GLACIER LILY ST$1,499,50043.14452DETACHD3
312 9TH ST$1,650,00032.12686DETACHD8
752 8TH ST$1,877,00053.14032DETACHD27
21 D AVE,  #14$2,046,80022.12406CONDO1

SOLD Nov 29-Dec5, 2021

AddressOpeningClosedBedsBathsSFProp TypeDays
4000 CARMAN DR,  C44$260,000$256,50022866CONDO46
86 KINGSGATE RD, A203$285,000$307,00022849CONDO1
4000 CARMAN DR,  B23$307,500$321,70022866CONDO3
218 RIDGEWAY RD / Main$350,000$360,00021914CONDO4
1400 BONNIEBRAE DR / Main$425,000$415,00021890CONDO7
71 KINGSGATE RD$595,000$625,00032.11727DETACHD2
1638 PINE ST$800,000$835,000433105DETACHD4
15449 PARTRIDGE DR$824,900$865,00042.12817DETACHD2
14655 UPLANDS DR$1,065,000$1,065,000532462DETACHD0
5492 YORKSHIRE PL$1,130,000$1,180,00042.12462DETACHD4
1776 OAK ST$1,350,000$1,290,00043.14012DETACHD89
2630 RIVENDELL RD$1,399,000$1,378,20043.14612DETACHD10
4305 UPPER DR$1,525,000$1,540,00042.13483DETACHD8
17301 BERGIS FARM DR$2,250,000$1,785,00043.14737DETACHD188
611 RIDGEWAY RD$2,049,000$1,900,00045.14463DETACHD145
4480 UPPER DR$2,000,000$1,950,00043.13497DETACHD19
16743 SW Pacific HWY$2,195,000$2,085,000444340DETACHD132
1099 CHERRY CIR$2,275,000$2,300,00053.14039DETACHD3
4105 UPPER DR$3,250,000$3,450,00053.14967DETACHD4
17475 BLUE HERON RD$3,995,000$3,600,00055.15787DETACHD39
736 SOUTHVIEW RD$4,195,000$3,940,00043.24639DETACHD6
2088 CREST DR$6,995,000$5,800,00046.18259DETACHD91
3232 LAKEVIEW BLVD$7,000,000$7,000,00045.18170DETACHD0
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.

Market Activity ~ Nov 15-21, 2021

Last week we saw 7 properties enter the market, 22 move to Pending status and 20 Closed/Sold. Right now there are 60 beautiful homes available in Lake Oswego.

Here is the breakdown:

NEW Nov 15-21, 2021

AddressList Price# Beds# BathsTotal SFProp Type
871 COUNTRY CLUB RD$215,00011600CONDO
2991 DELLWOOD DR$499,00032.11844CONDO
45 EAGLE CREST DR #316$580,000421546DETACHD
21 D AVE  #4$625,00031.11449DETACHD
2305 GLEN HAVEN RD$1,425,00042.24308DETACHD
4325 SILVER CT / Upper$2,067,00022.12431CONDO
6050 FERNBROOK ST$2,275,000543632DETACHD

PENDING Nov 15-21, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
7155 CHILDS RD / Grnd$278,00021916CONDO4
1400 BONNIEBRAE DR / Main$425,00021890CONDO7
71 KINGSGATE RD$595,00032.11727DETACHD2
5020 JEAN RD$599,000321837DETACHD3
16989 TUALATIN ST$650,00032.11491DETACHD50
1695 MEADOWS DR$698,000432219DETACHD6
74 CONDOLEA WAY$699,000332965CONDO51
1335 LAUREL ST$699,000311898DETACHD62
326 LAKE BAY CT$820,000321427DETACHD3
129 DEL PRADO ST$829,00042.12622DETACHD2
16510 MAPLE CIR$899,00042.12295DETACHD101
223 Cornell CT$965,00053.13756DETACHD10
3777 RIVERS EDGE DR$1,095,00042.12875DETACHD6
16164 PARKER RD  #2$1,098,00032.12091DETACHD57
18168 WESTMINSTER DR$1,099,00053.14220DETACHD5
828 7TH ST$1,250,000342418DETACHD4
16164 PARKER RD  #1$1,395,000543257DETACHD79
17912 KELOK RD$1,650,000533218DETACHD19
17908 BLUE HERON DR$1,799,000344172DETACHD4
2245 GLEN HAVEN RD$1,950,000443830DETACHD9
6720 CHILDS RD$2,395,00044.16898DETACHD64
637 ENGLEWOOD DR$2,825,00073.14231DETACHD19

SOLD Nov 15-21, 2021

AddressOpeningClosedBedsBathsSFProp TypeDays
316 CERVANTES CIR  #316 $      220,000 $     225,00021832CONDO13
29 CRESTFIELD CT/ Grnd $      249,900 $     232,00022989CONDO357
350 CERVANTES CIRb#1E $      259,900 $     249,50021.1912CONDO10
28 AQUINAS ST $      529,000 $     539,000321960DETACHD6
18840 SW 65TH AVE $      549,000 $     549,00032.11634DETACHD34
5944 BURMA RD $      629,000 $     675,000321409DETACHD4
4191 SOUTHSHORE BLVD $      699,000 $     705,000421361DETACHD5
4322 COLLINS WAY $      765,500 $     727,000532112DETACHD36
17226 MARJORIE AVE $      684,900 $     750,000321782DETACHD3
603 ATWATER RD $      924,900 $     850,00053.13430DETACHD73
4705 LAKEVIEW BLVD $      875,000 $     874,00032.12700DETACHD41
17555 ERIN CT $      969,000 $     910,000433156DETACHD17
3211 WESTVIEW CT $  1,150,000 $ 1,150,00043.13325DETACHD20
14322 EDENBERRY DR $  1,295,000 $ 1,230,00042.13262DETACHD31
7 GARIBALDI ST $  1,450,000 $ 1,450,00043.16303DETACHD85
860 SKYLAND DR $  1,299,000 $ 1,460,000433527DETACHD4
9 HIDALGO ST $  1,400,000 $ 1,500,00043.35713DETACHD4
792 2ND ST $  1,650,000 $ 1,670,000432786DETACHD8
14034 TAYLORS CREST LN $  1,685,000 $ 1,685,00053.24007DETACHD0
13710 KNAUS RD $  2,990,000 $ 2,950,00044.25780DETACHD0
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.

Market Activity ~ Oct 18-24, 2021

True to the season, last week Lake Oswego saw just 4 properties enter the market. There were, however, 21 moving to Pending status, and 15 that Sold/Closed. At this moment there are 77 fabulous homes priced from $170,000 to $6.5 Million available in this little hamlet.

Here is your weekly detailed breakdown:

NEW Oct 18-24, 2021

AddressList Price# Beds# BathsTotal SFProp Type
100 KERR PKWY  #19$170,00011617CONDO
135 OSWEGO SMT / Upper$263,000221140CONDO
5051 FOOTHILLS DR  D$340,00022991CONDO
16940 SW TRACY AVE$675,00041.21656DETACHD

PENDING Oct 18-24, 2021

AddressList Price# Beds# BathsTotal SFProp TypeDays
358 CERVANTES CIR$234,90021.1912CONDO5
4000 CARMAN DR  C44$255,00022866CONDO46
18840 SW 65TH AVE$549,00032.11634DETACHD34
4191 SOUTHSHORE BLVD$699,000421361DETACHD5
13819 PROVINCIAL HILL DR$785,00032.12021DETACHD3
15450 PARTRIDGE DR$800,00032.12624DETACHD4
3718 RIVERS EDGE DR$960,00042.12512DETACHD0
13280 SANDALWOOD CT$1,050,000433080DETACHD5
3211 WESTVIEW CT$1,150,00043.13325DETACHD20
17975 RIDGE LAKE DR$1,199,00042.12835DETACHD2
18470 RAY RIDGE DR$1,350,00052.14329DETACHD136
9 HIDALGO ST$1,400,00043.35713DETACHD4
7 GARIBALDI ST$1,450,00043.16303DETACHD85
17625 WOODHURST PL$1,495,00054.14513DETACHD39
4305 UPPER DR$1,525,00042.13483DETACHD8
611 RIDGEWAY RD$1,995,00045.14463DETACHD145
4480 UPPER DR$2,000,00043.13497DETACHD19
1099 CHERRY CIR$2,275,00053.14039DETACHD3
19155 BRYANT RD$2,275,00033.13371DETACHD20
16767 GRAEF CIR$2,950,00044.14222DETACHD13
1101 CRESTLINE CT$3,000,00044.37226DETACHD415

SOLD Oct 18-24, 2021

AddressOpeningClosedBedsBathsSFTypeDays
47 EAGLE CREST DR  #54 $     186,000 $     182,50011672CONDO37
47 EAGLE CREST DR  #48 $     200,000 $     203,50011696CONDO16
96 CERVANTES CIR / Main $     230,000 $     205,00021.1912CONDO7
47 EAGLE CREST DR  #56 $     240,000 $     240,000311031CONDO5
68 WHEATHERSTONE CT $     549,900 $     534,00043.12465CONDO19
5715 BONITA RD $     599,000 $     599,00032.11614DETACHD0
1386 BOCA RATAN DR $     524,900 $     600,00032.11739ATTACHD4
20 AQUINAS ST $     649,900 $     649,90042.11838DETACHD15
14425 HOLLY SPRINGS RD $     770,000 $     696,500532238CONDO108
18867 Arrowwood AVE $     659,900 $     760,000321488DETACHD6
4848 LOWER DR $     822,000 $     766,000432531DETACHD27
2515 GREENTREE RD $     735,000 $     777,000422300DETACHD3
18820 GREEN BLUFF DR $  1,599,000 $ 1,400,00044.15643DETACHD6
2420 PRESTWICK RD $  2,500,000 $ 1,420,00063.13723DETACHD73
16206 REESE RD $  1,895,000 $ 1,895,00043.13631DETACHD1
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.

Oswego Lake

In the heart of Lake Oswego is Oswego Lake. I decided that today I’d focus on the homes that are actually on the lake. I’m going to share with you a bit of what I have learned over the years.

When I got my real estate license in 1987, one of my very first clients was my former boss, and he bought a home on the lake. Over the years I’ve had the pleasure of working with both buyers and sellers who were involved with properties on Oswego Lake. I’ve learned a bit about the types of housing and the various waterfront options.

There are actually 3 different waterfront options. There is the lake itself. Oswego Lake is a natural body of water that was enlarged by development. The most valuable homes are on the lake itself. Then there are 2 “bays”. The bays are extensions of the lake, but not on the lake itself. There is one at the East end of the lake, Lakewood Bay, and one at the West end of the lake, Westbay. The bays have slightly less value than the main lake, but not by much. Then there are the canals. One of the canals is natural and it is where the water comes into the lake from the Tualatin River. There are two more canals, one at Kelok and one at Blue Heron. The canals are the least expensive of the waterfront homes.

I will also mention that on the main lake, the Northside tends to have higher values than the Southside. This is because the sun exposure is better on the Northside, and the sunlight directly benefits the waterfront exposure. There are a couple of streets on the Southside that pretty much don’t get sun exposure at all.

In the last 12 months 47 lake front properties have sold. The least expensive was in the condominiums “Villas on the Lake”. It was 1 bedroom, 1 bath, and 636 square feet. It sold for $215,000. These condominiums share a community dock and several of them have boat slips. The most expensive home that sold on the lake was a 6675 square foot home with 4 bedrooms and 5.5 bathrooms. With a gated entry and 100 feet of lake front, it sold for $6,175,000.

I think that the condominiums are a bit on an annomoly because most of the lake front properties are just so much more expensive. The average sales price is $2,388,000.

I hope you’ve enjoyed this over view. Please let Linda or I know if you have any questions or are interested in learning more.

Dianne

News & Notes ~ Sept 2021 Numbers

Overview/Fluctuations ~  Market Data Sept 2021:                                                                                           

Again this last month we’re seeing a cooling indicative of Fall, with Buyer Activity slowed a bit and/but conversely, Seller activity (Listings) increasing. It’ll be interesting to see October’s activity as Fall is one of the best times to buy a property in Portland, especially given the competitive landscape this year. We’ll find out if Buyers come out for the opportunity it presents. Market time remains pretty much the same at 24 days. We also see another slight increase in inventory looking pretty steady during these last few months. Appreciation remains remarkable.

Rates: “With increased inflation pressures, rates have moved higher to roughly 3.25% currently.  We are likely to continue to see rates moving higher in the coming months.”   Gary Boyer, Regional VP, Directors Mortgage                                                                                                                              

According to the RMLS Market Action Report  for the Portland Metro Area, Sept 2021:

  • There were 3,760 New Listings in Sept 2021 up 15.2% from Sept 2020’s 3,264 and also up 1.7% from the previous month/August’s 3,698.
  • At 3,167, Sept 2021’s Closed Sales are down 2.6% from Sept 2020’s 3,251, and also down 1.6% from the previous month/August’s total of 3,219
  • At 3,170, Sept 2021’s Pending Sales increased 0.6% from Sept 2020’s 3,152, and decreased 10.3% from the previous month/August’s total of 3,535.
  • The Average Sale Price in Sept 2021 of $571,500 is up $61,500 from last year/Sept 2020’s $510,000, and down $12,100. from the previous month/August’s $583,600.   
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Sept 2021 of $510,000 rose $59,000 from last year/Sept 2020’s $451,000, and was down $15,000 from the previous month/August’s $525,000.

LAKE OSWEGO:

154 Active Listings (Aug 161)
178 New Listings    (Aug 168)
170 Pending Sales (Aug 163)
168 Closed Sales    (Aug 171)
Average Sale Price for Sept: $975,700 (Aug $878,600)
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.
 27 Days on the Market   (Aug 23)

Market Activity ~ Oct 4-10, 2021

This last week in Lake Oswego there were 9 New homes entering the market, 24 moving to Pending status (accepted Offers), and 19 that Closed/Sold.

Right now there are 81 fantastic properties to suit all kinds of tastes, price ranges & requirements available in Lake Oswego!

Here is the latest breakdown according to RMLS:

NEW: Oct 4-10, 2021

AddressList Price# Beds# BathsTotal SFProp Type
4 TOUCHSTONE  #137$208,50022984CONDO
86 KINGSGATE RD,  A101$265,00022849CONDO
17555 ERIN CT$969,000433156DETACHD
16645 FIR LN$1,100,00042.13066DETACHD
2630 RIVENDELL RD$1,399,00043.14612DETACHD
611 RIDGEWAY RD$1,995,00045.14463DETACHD
4480 UPPER DR$2,000,00043.13497DETACHD
767 10TH ST$2,100,00044.13900DETACHD
16767 GRAEF CIR$2,950,00044.14222DETACHD

PENDING Oct 4-10, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
100 KERR PKWY  #38$185,00011628CONDO22
29 CRESTFIELD CT / Grnd$239,90022989CONDO357
15938 QUARRY RD, 3A$259,90021988CONDO4
5225 JEAN RD  #203$359,900321400CONDO117
4101 JEFFERSON PKWY / Upper$369,50022.11375CONDO11
3101 MCNARY PKWY  #6$395,00032.11884ATTACHD25
14 WHEATHERSTONE  #7$449,90032.11692CONDO2
750 1ST ST, A10$465,000221350CONDO117
5077 W SUNSET DR$500,00022.11720ATTACHD4
1386 BOCA RATAN DR$524,90032.11739ATTACHD4
12572 BOONES FERRY RD$525,000421577DETACHD138
6 ADAMS CT$539,900321571DETACHD2
2515 GREENTREE RD$735,000422300DETACHD3
1704 MEADOWS DR$750,000331956DETACHD4
1631 ASH ST$750,00042.12227DETACHD3
4705 LAKEVIEW BLVD$875,00032.12700DETACHD9
14867 TWIN FIR CT$899,00063.13625DETACHD5
603 ATWATER RD$899,90053.13430DETACHD73
2915 DELLWOOD DR$899,90042.23690DETACHD8
5598 LUCE LN$979,000433432DETACHD40
6413 MCDUFF CT$1,050,00032.13091DETACHD37
18365 SW 65TH AVE$1,290,000543331DETACHD22
1776 OAK ST$1,290,00043.14012DETACHD89
3411 LAKE GROVE AVE$1,599,00043.14434DETACHD47

SOLD Oct 4-10, 2021

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY  #31 $      185,000 $     185,00011617CONDO5
200 BURNHAM RD  #402 $      355,000 $     360,000221305CONDO10
5101 JEAN RD $      475,000 $     459,938311012DETACHD5
16417 LAKE FOREST BLVD $      540,000 $     540,000211066DETACHD12
17830 SW TUALATA AVE $      595,000 $     587,000321373DETACHD30
17902 TAMARA AVE $      569,900 $     605,000422082DETACHD59
8 BOLIVAR ST $      640,000 $     640,000222149DETACHD3
16624 ROOSEVELT AVE $      699,900 $     661,000322802DETACHD15
14 PREAKNESS CT $      669,000 $     680,00022.12190ATTACHD6
5911 SW CARMAN DR $      695,800 $     700,000321400DETACHD10
1880 FERNWOOD DR $      875,000 $     875,00053.13049DETACHD65
16033 REESE RD $      849,900 $     951,00042.12810DETACHD5
920 YORK RD $      985,000 $ 1,043,925432026DETACHD2
1161 SUNNINGDALE RD $      950,000 $ 1,060,00032.12378DETACHD3
1687 VILLAGE PARK LN $  1,500,000 $ 1,350,000433362DETACHD74
127 FURNACE ST / Upper $  1,375,000 $ 1,375,00022.12016CONDO0
14500 UPLANDS DR $  2,495,000 $ 2,225,00054.25544DETACHD74
1075 CHANDLER RD $  2,799,000 $ 2,700,00054.15710DETACHD113
259 PINE VALLEY RD $  4,000,000 $ 4,000,00044.14640DETACHD0

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.