Market Activity January 4-10, 2021

The holidays are behind us and we are beginning to see the pick up of the real estate market. There is still a shortage of new listings with only 6 properties that came onto the market last week. However, we had 19 properties that received and accepted an offer. That’s a demand that is 3 times higher than the new inventory. This makes makes for a strong seller’s market. We also had 11 properties that sold/closed. Expect these numbers to all increase in the coming weeks.

See below for a breakdown of the RMLS data.

New on the Market January 4-10, 2021

AddressTypePriceBRBathsSq Ft
26 Cervantes CircleCondo$261,90021.51107
4000 Carman Dr C49Condo$315,00021.51004
1427 Greentree CircleDetached$605,000322239
13198 Peters RdDetached$675,000322630
4850 Lower DrDetached$825,000432700
151 3rd StCondo$,750,00032.53278

Pending January 4-10, 2021

AddressTypePriceBRBathsSq FtCDOM
42 Cervantes CircleCondo$189,00021.59124
4 Touchstone #85Condo$219,00032.513519
76 Cervantes CircleCondo$227,00021.59124
3872 Botticelli StCondo$299,000321171124
750 1st St #26Condo$350,00022135049
5061 Foothills Dr GCondo$354,900229912
27 Bloch TerrAttached$425,00032.519723
15012 Twin Fir RdDetached$549,90072.5+.5+.5337214
1599 Oak STDetached$659,90042.5246831
314 2nd StCondo$730,00033.5181538
19428 Kokanee CtDetached$769,00042.527926
5173 Woodcrest LnDetached$850,0005332202
5513 Rachel LnDetached$1,049,00042.5333529
4146 Chad DrDetached$1,049,90042.53637143
17196 Kelok RdDetached$1,099,00053.54348169
54 Wilbur StAttached$1,195,00033.5360079
72 Nansen SummitDetached$1,368,00042.544857
17495 Kelok RdDetached$1,600,00032.53282101
17561 Lake Haven DrDetached$1,795,00053.538790

Sold/Closed January 4-10, 2021

AddressTypeList PriceSold PriceSq FtCDOM
4640 Lower DrCondo$279,900$279,900117011
16191 Lake Forest BlvdDetached$424,999$433,0008644
17561 Lake Haven DrDetached$500,000$500,00011000
14150 Goodall RdDetached$525,000$545,00017453
17088 Rebecca LnDetached$650,000$640,000255859
4984 Bilford LnDetached$750,000$712,500262935
6123 Frost LnDetached$789,900$759,900233121
14360 Trillium CtDetached$927,000$845,5003558122
6155 McEwan RdDetached$1,250,000$1,145372836
859 F AveDetached$1,379,000$1,34532105
587 2nd StCondo$1,675,000$1,475225040

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

2021 Is Here

We hope you all are looking forward to new and exciting adventures in 2021! Dianne and I will be here bringing you the lay of the land in Lake Oswego each week with current market stats, real estate insights, marketing tips, community information & more. The horizon is looking good according to all the forecasters, and of course we’re all looking forward to upcoming immunization assistance in all of our communities. Rates are expected to rise a bit, and we’re all expecting Inventory, which is at an all-time low, to rise.

Dianne and I wish you the very best this year and extend our reminder that we’re always at the other end of a phone call or email. Always here for you!

Happy New Year.

Market Activity ~ Dec 14, 2020-Jan3, 2021

Welcome to 2021!

Dianne and I hope this finds you well and happy, and that you and yours have been able to enjoy some cozy holiday time.

Now we’re moving into 2021. Our report this week is covering the 3-week period during the holidays. Only 3 properties braved entering the market during that time, and/but 32 properties moved into Pending status, and a whopping 48 Sold/Closed.

Here’s the breakdown for you:

NEW Dec 14, 2020-Jan 3, 2021

AddressList Price# Beds# BathsTotal SFProp Type
45 EAGLE CREST DR  #210$199,00011780CONDO
72 NANSEN SMT$1,369,00042.14485DETACHD
14080 GOODALL RD$2,395,00054.26005DETACHD

PENDING Dec 14, 2020-Jan 3, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
45 EAGLE CREST DR  #212$179,00011780CONDO90
7200 SW MONTAUK CIR / Grnd$219,90021968CONDO3
4606 LOWER DR / Upper$260,00021.11170CONDO32
4000 CARMAN DR  #79$270,00022993CONDO53
3812 BOTTICELLI ST$319,995321194CONDO41
4047 JEFFERSON PKWY$330,00032.11228CONDO1
2061 BONNIEBRAE DR$397,50032.11687ATTACHD27
5 SUMMIT RIDGE CT$415,00022.11576ATTACHD101
43 ORIOLE LN$475,000221810DETACHD78
937 COUNTRY CLUB RD$478,400211650DETACHD91
5859 KENNYCROFT WAY$499,90031.11205DETACHD4
18964 REDWING WAY$549,95031.11406DETACHD24
18150 BRYANT RD$590,000321468DETACHD8
4380 DOUGLAS WAY$599,950321364DETACHD62
3595 UPPER DR$629,000421725DETACHD4
17012 CRESTVIEW DR$699,000542750DETACHD4
4584 TRILLIUM WOODS$724,90032.12179ATTACHD44
151 C AVE$775,00022.11934ATTACHD112
4890 SAGE HEN CIR$789,90042.12832DETACHD74
252 GREENWOOD RD$824,900523834DETACHD5
5228 LOWER DR$839,95032.12723DETACHD101
5590 LUCE LN$950,000543374DETACHD6
6 ESSEX CT$998,000444338DETACHD42
2591 PALISADES CREST DR$1,160,00032.14916DETACHD110
6407 MISSION CT$1,239,00043.13623DETACHD1
18460 RAY RIDGE DR$1,249,00042.13769DETACHD34
18024 EASTRIDGE LN$1,289,00053.13781DETACHD580
1200 LAKE GARDEN CT$1,295,000433347DETACHD16
17680 Stafford RD$1,299,00052.13804DETACHD185
978 10TH ST$1,449,000332578DETACHD25
1111 C AVE$1,469,00043.13354DETACHD
3509 LANEWOOD ST$1,800,000443830DETACHD114

SOLD Dec 14, 2020-Jan 3, 2021

AddressOpening PriceClosed Price# Beds# BathsTotal SFProp TypeCDOM
44 EAGLE CREST DR  #17$199,900$185,00011798CONDO16
200 BURNHAM RD  #303$257,000$242,132211200CONDO144
20 CERVANTES CIR$290,000$260,00021.1912CONDO30
45 EAGLE CREST DR  #100$295,000$280,000321537CONDO18
71 CONDOLEA WAY$425,000$415,000332131CONDO88
1402 PARRISH ST$469,000$445,00032.11863CONDO83
13679 JOHNSON TER$515,000$514,86021917DETACHD6
14402 SHERBROOK PL$530,000$515,00032.11976DETACHD43
6270 Shakespeare ST$495,000$527,000311009DETACHD3
4362 GALEWOOD ST$558,000$543,00032.11684DETACHD25
69 CONDOLEA TER$555,000$549,65022.12262CONDO100
29 WALKING WOODS DR$579,900$579,900322311DETACHD71
5204 ROSEWOOD ST$599,000$621,00032.11683DETACHD3
621 9TH ST$649,000$654,000222214DETACHD11
14 INDEPENDENCE AVE$684,900$660,000533296DETACHD191
17950 MEADOWLARK LN$649,000$675,000532727DETACHD97
18863 INDIAN SPRINGS RD$699,900$700,000432001DETACHD2
1227 ASH ST$700,000$717,000322151DETACHD4
9 SPINOSA$725,000$725,00022.12250DETACHD29
19 WESTRIDGE DR$765,000$745,00042.13711DETACHD28
2395 GREENTREE RD$779,900$750,00052.12777DETACHD15
5722 SOUTHWOOD DR$765,000$776,00042.12919DETACHD3
619 CLARA CT$789,000$789,00042.12958DETACHD0
2765 GLEN HAVEN RD$749,900$790,00042.12277DETACHD5
5338 ROYAL OAKS DR$819,000$800,00042.12720DETACHD67
20 Nansen Summit$749,900$800,00043.13768DETACHD2
13456 PROVINCIAL HILL WAY$840,000$805,00032.13071DETACHD69
6435 MCDUFF CT$975,000$890,00053.13424DETACHD65
14218 KIMBERLY CIR$916,500$899,50042.13272DETACHD22
5239 MADRONA ST$885,000$905,000332881DETACHD4
49 HILLSHIRE DR$939,900$915,00043.14268DETACHD113
17215 LOWENBERG TER$995,950$925,00042.12934DETACHD89
2934 TOLKIEN LN$974,800$985,00053.13851DETACHD11
1816 PALISADES LAKE CT$1,200,000$1,025,00032.14598DETACHD104
16791 SYLVAN CT$1,075,000$1,100,00053.14137DETACHD1
2148 Summit DR$1,295,000$1,157,50052.13883DETACHD104
13768 KNAUS RD$1,180,000$1,200,000322480DETACHD4
18375 RIVER EDGE LN$1,185,000$1,265,00042.13512DETACHD51
3131 WEMBLEY PARK RD$1,395,000$1,325,00043.13597DETACHD147
18020 MEADOWLARK LN$1,350,000$1,345,000544217DETACHD4
629 5TH ST$1,475,000$1,365,00042.12985DETACHD64
14005 GOODALL RD$1,800,000$1,500,00043.14809DETACHD207
490 G AVE$1,450,000$1,507,60043.12977DETACHD1
16877 CANYON DR$1,629,900$1,633,086443771DETACHD21
16881 CANYON DR$1,629,900$1,636,986443854DETACHD4
527 NORTHSHORE RD$1,800,000$1,744,000322433DETACHD20
1037 LAKE FRONT RD$2,100,000$2,100,000332700DETACHD0
961 TERRACE DR$2,899,000$2,460,00054.26016DETACHD213

Companion Calls for Senior Citizens

There is a brand new program happening in Lake Oswego. It’s been organized by 7 volunteers at the Lake Oswego Adult Community Center. This program connects senior citizens with volunteers who make a weekly phone call to them to just have a nice, neighborly visit.

Paricularly in the time of Covid, people are feeling alone in their homes. Getting that phone call once a week can really brighten up a person’s life. I think the idea is just brilliant.

“We just chat about local stuff and stay connected to what’s going on in this beautiful city of ours” says coordinator Ross Fearey.

Referrals for potential recipiants to date have come from the Adult Community Center and also from Tony Sparling, the adult resources officer with the Lake Oswego Police Department.

If you or someone you know would benefit from participating in this program, call 503-636-5040 to make arrangements to receive regular calls.

News & Notes ~ Nov 2020 Numbers

Here is your look at the most recent data for the entire Portland area (Nov2020) and how Lake Oswego fits in to this picture just below.

Overview/Fluctuations ~  Market Data Nov 2020:                                  

Inventory is now at 1.0 months of supply here, locally. The lowest it’s ever been. All forecasts are for continued increases in home sales and prices, though more modestly than 2020. Prediction #’s vary among economists. National Association of Realtors (NAR) is predicting a 7.3% increase in sales  nationally in 2021. Interest rates are still hovering around 2.875% but are expected to rise, albeit not dramatically. One very interesting item I noted from the NAR information is that nationally,  1 in 6 home purchases is now “multi-generational”. So, how we live is changing in many ways:  People are looking for more space to work from home, and generations are moving in together. There is generally more up-sizing than down-sizing going on.

According to the RMLS Market Action Report  for the Portland Metro Area, Nov. 2020:

  • There were 2,238 New Listings in Nov 2020 increased 5.7% from Nov of 2019’s 2,118,  and decreased a whopping 36.3% from the previous month/Oct’s 3,515.
  • At 2,745, Nov 2020’s Closed Sales are up 12.4% from Nov 2019’s 2,191, and decreased 13.0% from the previous month/Oct 2020’s total of 3,155
  • At 2,557, Nov 2020’s Pending Sales are up 12.4% from Nov 2019’s 2,274, and dropped 20.1% from the previous month/Oct 2020’s total of 3,199.
  • The Average Sale Price in Nov 2020 of $521,200 is up $58,600 from last year/Nov 2019’s $462,600, and is up $4,700 from the previous month/Oct 2020’s $516,500.   YTD increase is 7.1%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Nov 2020 of $457,000 rose from last year/Nov2019’s $415,000 by $42,000, and decreased $3,000 from the previous month/Oct 2020’s $460,000. YTD increase is 6.8%.

Neighborhoods: November’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $480,600              6.2%   (Oct $450,300) YTD Median: $431,000
  • NE Portland:  $508,700                    5.0%   (Oct $531,200) YTD Median: $455,000
  • SE Portland:  $478,200                    8.1%   (Oct $477,300) YTD Median: $409,000
  • Gresham/Troutdale:   $425,200    5.2%   (Oct $412,900) YTD Median: $378,000
  • Milwaukie/Clackamas: $510,700 7.7%   (Oct $512,100)  YTD Median: $450,000
  • Oregon City/Canby:   $506,300    6.5%  (Oct $511,300) YTD Median: $440,500
  • Lake Oswego/W Linn:$822,000 10.9%  (Oct $756,600) YTD Median: $645,000
  • West Portland:    $650,400              5.1%   (Oct $685,900) YTD Median: $550,000
  • NW Wash County:  $578,900        6.2%  (Oct $595,600) YTD Median: $527,500
  • Beaverton/Aloha:     $449,100        5.2%  (Oct $451,200)  YTD Median: $417,000
  • Tigard/Wilsonville:   $528,200       9.5%  (Oct $516,700) YTD Median: $479,000
  • Hillsboro/Forest Grove: $444,400 5.6%  (Oct $445,600)YTD Median: $410,000

LAKE OSWEGO:

  • The combined areas of Lake Oswego and West Linn  for  the month of November 2020 reported:
    •  177 Active Listings (Oct 213)
    •  104 New Listings     (Oct 197)
    •  106 Pending Sales   (Oct 193)
    •  166 Closed Sales       (Oct 173)
    • Average Sale Price for Nov: $822,000  (Oct $756,600)
      • 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.
    •  50 Average Days on the Market   (Oct 59)

Market Activity ~ Nov 30- Dec 6, 2020

This last week in Lake Oswego continues the trend we’ve been seeing of fewer homes being Listed (5) and more going Pending (17) & Sold (35). There are currently 106 homes available in Lake Oswego.

Here is a snapshot in time according to RMLS:

NEW: Nov 30-Dec 6, 2020:

AddressList Price# Beds# BathsTotal SFProp Type
1599 OAK ST$664,90042.12468DETACHD
2145 SUMMIT DR$1,000,00042.23111DETACHD
6485 MISSION CT$1,165,00043.13133DETACHD
18460 RAY RIDGE DR$1,249,00042.13769DETACHD
1200 LAKE GARDEN CT$1,400,000433347DETACHD

PEN: Nov 30-Dec 6, 2020:

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
44 EAGLE CREST DR #17$199,90011798CONDO16
200 BURNHAM RD #303$253,000211200CONDO144
4640 LOWER DR / Upper$279,90021.21170CONDO11
5071 TUALATA LN$584,900331540DETACHD22
17104 CANAL CIR$650,000321416DETACHD36
17095 WESTVIEW DR$664,900433354DETACHD32
5338 ROYAL OAKS DR$819,00042.12720DETACHD67
13456 PROVINCIAL HILL WAY$840,00032.13071DETACHD69
49 HILLSHIRE DR$909,90043.14268DETACHD113
1816 PALISADES LAKE CT$1,150,00032.14598DETACHD104
13310 FOX RUN$1,150,00043.13741DETACHD1006
18020 MEADOWLARK LN$1,350,000544217DETACHD4
490 G AVE$1,450,00043.12977DETACHD1
1111 C AVE$1,469,00043.13354DETACHD
4165 Childs RD$1,549,90032.13310DETACHD11
587 2ND ST / Upper$1,575,00022.12250CONDO40
4357 SOUTHSHORE BLVD$2,945,00055.15220DETACHD152

SLD: Nov 30-Dec 6, 2020

AddressOpening PriceClosed PriceBedBathTotal SFProp TypeCDOM
344 CERVANTES CIR/Grnd$223,000$223,00021.1921CONDO5
16377 KIMBALL ST$389,000$360,000311200DETACHD6
31 GREENRIDGE CT$430,000$425,00032.12012ATTACHD95
16246 PARKER RD$479,900$480,000321280DETACHD7
18275 TERRY CT$439,900$490,00031.11270DETACHD196
16242 INVERURIE RD$519,000$526,200321687DETACHD3
1705 CONIFER DR$539,000$535,00031.11850DETACHD11
77 GREENRIDGE CT$584,900$571,00032.12190ATTACHD11
769 4TH ST$499,000$586,000412000DETACHD4
15500 BOONES WAY$535,000$590,000321309DETACHD5
3102 DUNCAN DR$799,000$670,00043.13910DETACHD113
880 WOODWAY CT$700,000$670,000433800DETACHD30
221 HIDALGO ST$710,000$679,00032.12660DETACHD35
4045 MELISSA DR$758,000$690,00042.12529DETACHD40
15988 WHITE OAKS DR$785,000$710,00042.12854DETACHD41
4113 WOOD HILL CT$745,000$710,000432810DETACHD34
13881 SHIREVA DR$695,000$720,000432392DETACHD3
17841 WESTVIEW DR$739,000$720,00042.12434DETACHD20
634 CARRERA LN$750,000$740,00042.13282DETACHD4
1702 HIGHLAND DR$779,000$744,00032.12175DETACHD32
13947 MAJESTIC CT$799,900$805,00043.12822DETACHD3
15655 FIELDSTONE DR$830,000$830,00042.12781DETACHD2
13217 FOX RUN$868,000$831,000432706DETACHD40
19245 MEGLY CT$899,000$899,000533490DETACHD41
13745 CAMEO CT$999,500$910,000442846DETACHD78
4297 ALBERT CIR$999,995$920,00032.12335DETACHD69
5690 BAY CREEK DR$969,000$950,00042.13268DETACHD4
15930 TWIN FIR RD$995,000$970,00032.12620DETACHD82
2900 UPPER DR$1,040,000$977,500322272DETACHD66
3180 DOUGLAS CIR$1,475,000$1,240,00052.24768DETACHD496
13615 KNAUS RD$1,995,000$1,858,00043.14294DETACHD56
1588 VIEW LAKE CT$1,995,000$1,995,00042.24429DETACHD4
16865 GREENBRIER RD$2,695,000$2,200,000556404DETACHD101
4321 Southshore BLVD$3,950,000$3,756,70054.16731DETACHD118
1415 CHANDLER RD$4,250,000$3,862,50064.27054DETACHD87

Market Activity November 16-29, 2020

Here at the blotter we usually do the market activity report one week at a time, but with the holiday last week, we have combined two weeks. As you can see, not many houses came onto the market, just 12. However, the pending sales and closed sales remained strong. There were 34 properties that went into pending status and 35 closed sales. At this time of year, people making moves are highly motivated to get into the new house before Christmas.

See below for details

New on the Market November 16-29, 2020

AddressTypePriceBRBathsSq Ft
44 Eagle Crest #17Condo$199,90011798
668 McVey Ave #44Condo$229,00011636
4 Touchstone #85Condo$240,00032.51351
4606 Lower DrCondo$260,00021.11170
750 1st St #26Condo$360,010221350
4515 Oakridge RdAttached$685,00032.51981
314 2nd StCondo$740,00033.51815
6123 Frost LnDetached$789,90042.52331
4361 Southshore BlvdDetached$875,000432441
978 10th StDetached$1,495332578
4165 Childs RdDetached$1,549,90032.53310
1199 Sunningdale CtDetached$2,250,00044.54319

Pending Sales November 16-29, 2020

AddressTypePriceBRBathsSq FtCDOM
280 CervantesCondo$256,90022105035
16250 Pacific Hwy #77Condo$259,00022132779
45 Eagle Crest Dr #100Condo$285,00032153718
750 1st St E34Condo$309,900221350114
2061 Bonniebrae DrAttached$405,00032.516875
71 Condolea WayCondo$425,00033213188
5309 Lakeview BlvdDetached$474,950211320158
5136 Jean RdDetached$495,00032141244
16242 Inverurie RdDetached$519,0003216573
17297 Bryant RdDetached$550,0003214283
69 Condolea TerraceCondo$555,00022.5226215
1540 Meadowlark LnDetached$649,0005327275
17879 Hillside DrDetached$699,900333149271
18863 Indian Springs RdDetached$699,9004320012
9 SpinosaDetached$725,00022.5225022
1702 Highland DrDetached$749,00032.5217532
2395 Greentree RdDetached$749,90052.5277715
19 Westridge DrDetached$749,90042.5371128
1604 Country Club RdDetached$800,00043.5387834
5185 Woodcrest LnDetached$835,00032.5255433
5239 Madrona StDetached$885,0003328814
14218 Kimberly CircleDetached$899,50042.5327222
2349 Oakhurst LnDetached$935,00042.535488
2934 Toklien LnDetached$874,80053.5385111
3000 Brookside RdDetached$999,95032.5160050
6155 McEwan RdDetached$1,165,00053372836
6441 Mission CtDetached$1,165,00043320124
13768 Knaus RdDetached$1,180,0003224804
859 F AveDetached$1,379,00032.532105
14005 Goodall RdDetached$1,595,00043.54809207
527 Northshore RdDetached$1,800,00032243320
13615 Knaus RdDetached$1,895,00043.5429456
1540 Worthington StDetached$589,9005218724
5204 Rosewood StDetached$599,00032.516833

Closed Sales November 16-29, 2020

AddressTypeList PriceSold PriceSq FtCDOM
668 McVey Ave #40Condo$249,900$225,00063621
86 Kingsgate Rd E #101Condo$274,900$260,00095314
668 MdVey Ave #42Condo$257,900$261,0008523
668 McVey Ave #65Condo$315,000$307,00063638
5225 Jean Rd #511Condo$369,900$381,00014003
206 Greenridge DrAttached$475,000$502,50013924
98 Kingsgate RdDetached$510,000$505,00017272
1225 Hallinan StDetached$584,900$550,00018195
127 Greenwood RdDetached$550,000$556,000120113
2631 Orchard Hill PlDetached$619,900$599,900244733
14863 Twin Fir CtDetached$630,000$600,000164877
715 Hemlock StDetached$539,900$635,00013123
17226 Tualatin StDetached$695,000$679,00019424
29 Churchill DownsDetached$700,000$690,000201912
1725 Fernwood DrDetached$699,000$699,00015806
17061 Crestview DrDetached$649,900$705,00022163
12436  Orchard Hill RdDetached$725,000$710,00028918
5124 Rosewood StDetached$739,900$729,000351692
4102  Buck Brush LnDetached$697,000$729,00022053
7 Falstaff StDetached$729,000$731,25024841
4388 Snowbrush CtDetached$825,000$775,0003928230
2290 Overlook DrDetached$725,000$776,00030953
2585 Dellwood DrDetached$949,900$875,000374978
17421 Brookhurst DrDetached$899,900$895,000375612
18140 Pioneer CtDetached$964,900$965,00025242
1507 Cedar StDetached$1,099$1,100,000250567
6463 Mission CtDetached$1,165$1,165,0003547290
2250 Southshore BlvdDetached$1,299$1,185,0004432229
1989 Egan WayDetached$1,384$1,399,000407311
827 8th StDetached$1,425$1,399,0003852103
800 Terrace DrDetached$1,559$1,555,0005359160
4223 Upper DrDetached$1,650$1,699,0003902430
16793 Graef CircleDetached$2,695$1,900,0004220116
17787 Cardinal DrDetached$2,199$1,950,000327062
19025 Hill Top RdDetached$2,349$2,100,0005366755

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.

Market Activity ~ Nov 9-15, 2020

Last week in Lake Oswego we saw 7 New properties hit the market, 21 move to Pending status, and 29 transactions Close. Here is the breakdown according to RMLS:

NEW 11/9-15, 2020 :

AddressList Price# Beds# BathsTotal SFProp Type
3812 BOTTICELLI ST$319,995321194CONDO
17297 BRYANT RD$575,000321428DETACHD
5071 TUALATA LN$595,900331540DETACHD
2349 OAKHURST LN$935,00042.13548DETACHD
17596 GREEN BLUFF DR$959,90042.13039DETACHD
3250 WESTVIEW CT$1,200,00063.13928DETACHD
5055 LAKEVIEW BLVD$1,298,00043.13607DETACHD

PENDING 11/9-15, 2020 :

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
3433 MCNARY PKWY  #804$260,00022.11136CONDO103
20 CERVANTES CIR$275,00021.1912CONDO30
31 GREENRIDGE CT$425,00032.12012ATTACHD95
1402 PARRISH ST$449,00032.11863CONDO83
6270 Shakespeare ST$495,000311009DETACHD3
769 4TH ST$499,000412000DETACHD4
13 WALKING WOODS DR$515,000322130DETACHD4
14402 SHERBROOK PL$530,00032.11976DETACHD43
4362 GALEWOOD ST$558,00032.11684DETACHD25
14 INDEPENDENCE AVE$684,900533296DETACHD191
1227 ASH ST$700,000322151DETACHD4
20 Nansen Summit$749,90043.13768DETACHD2
19 WESTRIDGE DR$749,90042.13711DETACHD19
5722 SOUTHWOOD DR$765,00042.12919DETACHD3
6435 MCDUFF CT$899,90053.13424DETACHD65
17215 LOWENBERG TER$935,00042.12934DETACHD89
14144 GOODALL RD$950,000533701DETACHD157
2900 UPPER DR$995,000322272DETACHD66
6 ESSEX CT$998,000444338DETACHD4
3125 ALBER SPRING CT$1,098,00033.14308DETACHD195
18375 RIVER EDGE LN$1,185,00042.13512DETACHD51

SOLD 11/9-15, 2020:

AddressOpening PriceClosed Price# Beds# BathsTotal SFProp TypeCDOM
92 CERVANTES CIR$205,000$205,00021.1912CONDO36
4 TOUCHSTONE  #70$279,950$209,75032.11351CONDO136
320 CERVANTES CIR, #12B$209,900$209,90021832CONDO3
15938 QUARRY RD,  B4$225,000$235,00021996CONDO2
5225 JEAN RD  #505$255,000$265,000221100CONDO2
45 EAGLE CREST DR  #401$285,000$272,000321348CONDO40
15486 Brianne CT$375,000$355,00022.11246ATTACHD8
4401 THUNDER VISTA LANE LN$395,000$365,00022.11980CONDO89
4347 SILVER CT$445,000$429,00032.11844CONDO44
12 SAINT HELENS CIR$525,000$525,000321780DETACHD29
19167 LONGFELLOW AVE$525,000$544,000321782DETACHD6
4862 INDIAN CREEK CT$534,900$555,000321390DETACHD4
3595 TEMPEST DR$615,000$615,000322126DETACHD34
1427 ASPEN ST$635,000$625,000422319DETACHD15
39 TOUCHSTONE$749,900$650,000433400DETACHD39
4430 GALEWOOD ST$649,000$661,00032.12078DETACHD4
2734 SW ORCHARD HILL LN$699,000$701,000432800DETACHD5
312 4TH ST$710,000$710,00022.11731ATTACHD22
40 CONDOLEA CT  /  Main$775,000$725,000332958CONDO34
13453 STREAMSIDE DR$839,000$792,00032.12932DETACHD5
12730 ADRIAN CT$835,000$815,00042.12952DETACHD74
5682 CHARLES CIR$839,000$839,000433052DETACHD3
14527 RAINBOW DR$895,000$862,000533339DETACHD33
17641 BROOKHURST DR$989,000$995,00042.13470DETACHD5
14361 EDENBERRY DR$1,100,000$1,075,00043.13760DETACHD3
900 FAIRWAY RD$1,195,000$1,083,00053.13508DETACHD106
2701 GLEN HAVEN RD$1,085,000$1,125,000323134DETACHD3
18008 GREENBLUFF DR$1,849,000$1,550,00033.14402DETACHD179
13490 FIELDING RD$3,398,000$3,070,00056.18286DETACHD141

News & Notes ~ Oct 2020 Numbers

Here is your look at the most recent data for the entire Portland area (Oct 2020) and how Lake Oswego fits in to this picture just below.

Inventory remained at 1.1 months of supply in October. August was 1.3 and July was 1.2. The 1.1 mark is a record low according to RMLS. New Listings, Pending Sales and Appreciation are all up across the board.

Though we have an undeniable shortage of homes available, this is the time of year when Buyers can expect to find reasonable Sellers, and Sellers can expect to find serious Buyers out looking.

Rates are still very good, remaining around 2.875 as of today.

According to the RMLS Market Action Report for the Portland Metro Area, Sept 2020:

  • There were 3,515  New Listings in Oct 2020 increased 14.7%  from Oct of 2019’s 3,064, and also increased 7.7% over the previous month/Sept’s 3,264.
  • At 3,155, Oct 2020’s Closed Sales are up 21.9% from Oct 2019’s 2,588, and decreased 3.0% from the previous month/Sept 2020’s total of 3,251
  • At 3,199, Oct 2020’s Pending Sales are up 25.2% from Oct 2019’s 2,575, and also increased 1.5% over the previous month/Sept 2020’s total of 3,152.
  • The Average Sale Price in Oct 2020 of $516,000 is up $54,600 from last year/Oct 2019’s $461,400, and is up $6,000 from the previous month/Sept 2020’s $510,000.   YTD increase is 6.5%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Oct 2020 of $460,000 rose from last year/Oct 2019’s $410,500 by $49,500, and is up by $9,000 from the previous month/Sept 2020’s $451,000. YTD increase is 6.1%.

Neighborhoods: October’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $450,300              6.5%   (Sept $476,000)
    •                                                     YTD Median: $430,000
  • NE Portland:  $531,200                   4.6%   (Sept $532,100)
    •                                                     YTD Median: $452,500
  • SE Portland:  $477,300                   6.7%   (Sept $467,700)
    •                                                     YTD Median: $405,000
  • Gresham/Troutdale:   $412,900     4.8%   (Sept $409,300)
    •                                                     YTD Median: $374,900
  • Milwaukie/Clackamas:  $512,100  6.8%   (Sept $487,300)
    •                                                     YTD Median: $449,900
  • Oregon City/Canby:   $511,300      5.8%   (Sept $469,700)
    •                                                     YTD Median: $440,000
  • Lake Oswego/West Linn:$756,600  9.9%  (Sept $782,600)
    •                                                      YTD Median: $639,500
  • West Portland:    $685,900             4.5%  (Sept $636,600)
    •                                                     YTD Median: $550,000
  • NW Wash County:  $595,600          5.2%  (Sept $600,600)
    •                                                      YTD Median: $524,900
  • Beaverton/Aloha:     $451,200       4.9%   (Sept $447,000)
    •                                                     YTD Median: $415,300
  • Tigard/Wilsonville:   $516,700        8.0%   (Sept $534,300)
    •                                                      YTD Median: $475,000
  • Hillsboro/Forest Grove: $445,600  5.6%   (Sept $438,300)
    •                                                      YTD Median: $409,900

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of October 2020 reported:

    •  213 Active Listings (Sept 250)
    •  197 New Listings     (Sept 173)
    •  193 Pending Sales   (Sept 180)
    •  173 Closed Sales       (Sept 191)
    • Average Sale Price for Oct: $756,600  (Sept $782,600)
      • 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.
    •  59 Average Days on the Market   (Sept 45)