Portland Metro Neighborhood Stats + LO

Overview/Fluctuations ~ October 2023 Market Data:                                                                                                               

Here is your monthly look at what’s happening in Portland metro and how it relates to Lake Oswego (broken out at the bottom)

As we gear up for the holidays, activity is seasonally lower. But the most interesting thing for me to note is that the market seems to be stabilizing. I looked at last year’s October report, and prices were *much* more volatile at that time. Right now there is not so much fluctuation in price, and Inventory is continuing to rest at around 3 month’s worth. Overall activity is down a bit from last year in October.

Rates: “Great news this week showing inflation is continuing to slow. The Fed should be done raising rates! Look for more good news ahead.”        Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report  for the Portland Metro Area-October 2023:

  • There were 2,207 New Listings in October which is down 12.2% from 2,513 in Oct 2022 and  down 18.7% from the 2,713 in the previous month/September.
  • At 1,670 Oc­t 2023’s Closed Sales (Solds) are down 14.6% from Oct 2022’s 1,955, and decreased 2.7% from the previous month’s total of 1,717.
  • At 1,625 Oct 2023’s Pending Sales (Accepted Offers) are down 11.4% from Oct 2022’s 1,835, and also down 10.2% from the previous month/September’s total of 1,809.
  • The Average Sale Price for Sept 2023 of, $592,700 is up a whole $2,700. from last year/Oct 2022’s $592,000, and down $3,200 from the p­­revious month/Sept’s $595,900. 
  • The “Median Sale Price (the price smack dab in the middle of all sales) in Oct 2023 of $525,000 dropped $12,000 from Oct 2022’s $537,000, & is down $12,400 from Sept’s $537,400.

LAKE OSWEGO: (Oct ’23)

248 Active Listings (Sep 279)
98 New Listings  (Sep 137)
85 Pending Sales (Sep 98)
85 Closed Sales  (Sep 75)
Average Sale Price for Sept: $954,500 (Sep $1,076,000)
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.
47 Days on the Market   (Sep 51)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS)

Market Activity ~ Nov 6-12, 2023

Last week there were 6 properties entering the market, 12 with accepted Offers moving to Pending status and 11 Sold/Closed. Right now there are 141 properties available in Lake Oswego ranging from $219,900 to $11,500,000.

Here is the breakdown according to RMLS:

NEW Nov 6-12, 2023

AddressList PriceBedsBathsSFProp Type
4690 AUBURN LN$900,000$33.12750ATTACHD
6050 CHILDS RD$900,000$31.12129DETACHD
4904 PARKHILL ST$1,195,000$42.13433DETACHD
17393 GRANDVIEW CT$1,275,000$43.13772DETACHD
1885 CREST DR$1,429,900$332391DETACHD
2800 WEMBLEY PARK RD$2,600,000$44.14538DETACHD

PENDING Nov 6-12, 2023

AddressList PriceBedsBathsSFProp TypeDays
45 EAGLE CREST DR #506$189,900$11600CONDO44
96 OSWEGO SUMMIT /Lower$219,900$11964CONDO6
12884 BOONES FERRY RD$475,000$22.11210CONDO3
4510 LOWER DR B1$545,000$32.11729CONDO42
6 THE GROTTO$560,000$321381DETACHD197
5330 CARMAN GROVE LN$995,000$32.12493DETACHD43
1177 C AVE$999,000$321957DETACHD34
2020 WEMBLEY PARK RD$1,078,000$321712DETACHD369
14584 PFEIFER WAY$1,250,000$422647DETACHD14
17312 BERGIS FARM DR$1,999,000$44.24804DETACHD16
2248 SUMMIT CT$2,450,000$423024DETACHD10
2800 WEMBLEY PARK RD$2,600,00044.14538DETACHD0

SOLD Nov 6-12, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY #42$237,500$216,000$21.1822CONDO59
248 RIDGEWAY RD /Upper$395,000$315,000$11753CONDO155
5737 WASHINGTON CT$669,000$664,000$31.11521DETACHD5
3620 WREN ST$1,189,000$900,000$43.13056DETACHD75
807 HOODVIEW LN$1,200,000$1,315,000$433931DETACHD5
18653 PILKINGTON RD$1,525,000$1,410,000$43.13196DETACHD64
1885 CREST DR$1,429,900$1,429,900$332391DETACHD0
13052 KNAUS RD$1,690,000$1,500,000$433026DETACHD8
915 CEDAR ST$1,695,000$1,630,000$43.13219DETACHD26
4247 LORDS LN$2,680,000$2,200,000$43.13840DETACHD102
1860 EGAN WAY$2,250,000$2,300,000$433687DETACHD5
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 Oct 30-Nov 5, 2023

There is always a burst of buying activity about a month before Christmas as people rush to get into their new home before the Holidays. That is certainly reflected is last week’s sales in Lake Oswego. 21 properties received accepted offers and went into pending status. That is about twice what we have been averaging this fall. There were also 11 new listings, 2 of which sold quickly and appear as pending properties in this report. Finishing the statistics, there were 15 closed sales. Those folks will be in their new homes by Thanksgiving.

See below for RMLS data.

New Listings Oct 30-Nov 5, 2023

AddressTypePriceBedroomsBathsSq Feet
96 Oswego SummitCondo$219,90011964
5053 Foothills Dr ACondo$445,000321252
26 Greenridge CtAttached$467,00032.51996
13990 Shireva CtDetached$789,000321702
875 Palisades Terrace DrDetached$929,500432181
322 2nd StAttached$1,250,00033.51974
5527 Childs RdAttached$1,399,900432982
1959 Wembley PlDetached$1,595,00043.52922
5309 Denton DrDetached$1,620,00043.53626

Pending Sales Oct 30-Nov 5, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
45 Eagle Crest Dr #208Condo$219,90022104614
248 Ridgeway RdCondo$345,00011753155
3672 Spring LnCondo$439,9002211178
51 Greenridge CtAttached$475,0002213487
12802 Boones Ferry RdCondo$479,90032.511828
58 Condolea TerrCondo$669,000332958111
31 Churchill DownsDetached$775,00064.5379447
1600 Woodland TerrDetached$779,0003216993
8 Hotspur StDetached$799,99932.5196654
2979 Dellwood DrDetached$850,000433216144
16020 Kimball StDetached$899,00053.5242642
7 Grouse TerrDetached$935,00032.525163
14210 Amberwood CirDetached$1,150,00043339130
915 Cedar StDetached$1,645,00043.5321926
21 D Ave #14Condo$2,046,80022.521980
1808 Ridge Pointe DrDetached$2,199,00043.54860129
2275 Glen Haven RdDetached$2,269,90044410987
19777 Sycamore AveDetached$2,595,00044.5+.54432110
1101 Crestline CtDetached$3,150,0004.5+.5722652
13799 Atwater LnDetached$3,995,00034470031
128 Northshore CirDetached$4,295,00043.5350146

Sold/Closed Oct 30-Nov 5, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
54 Cervantes CirCondo$280,000$279,5009125
3433 McNary Pkwy #503Condo$318,000$318,00011342
207 Oswego SummitCondo$390,000$375,000149717
5225 Jean Rd #106Condo$400,000$405,000140029
4121 Hedge Nettle CtDetached$849,900$796,9992307111
15911 Fir Grove CtDetached$915,000$865,0002584172
14205 Edenberry DrDetached$1,150,000$1,005,000321916
63 Garibaldi StDetached$1,250,000$1,010,0004223112
1633 Maple StDetached$1,445,000$1,062,4223448194
233 E AveDetached$1,400,000$1,220,000115012
1125 Northshore RdDetached$1,495,000$1,250,000158932
5031 Laurel StDetached$1,549,000$1,349,0003169805
611 Ridgeway RdDetached$2,139,000$2,050,000484796
975 Englewood DrDetached$3,995,000$3,950,000598070
3648 Lakeview BlvdDetached$5,500,000$4,900,000400067

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 ~ Oct 23-29, 2023

Last week in Lake Oswego there were 16 properties entering the market, 9 moving to Pending status and 11 Closed/Sold.

Here is the breakdown according to RMLS:

NEW Oct 23-29, 2023

AddressList PriceBedsBathsSFProp Type
40 CRESTFIELD CT / Upper$239,000$11690CONDO
2019 BONNIEBRAE DR$525,000$321539ATTACHD
4510 LOWER DR, B1$545,000$32.11729CONDO
1228 CEDAR ST$625,000$321302DETACHD
18211 INDIAN CREEK DR$850,000$312204ATTACHD
7 GROUSE TER$935,000$32.12516DETACHD
17942 SAINT CLAIR DR$969,000$42.12533DETACHD
21 HIDALGO ST$1,000,000$433392DETACHD
807 HOODVIEW LN$1,200,000$433931DETACHD
14584 PFEIFER WAY$1,250,000$422647DETACHD
4360 WESTBAY RD$1,329,000$432636DETACHD
17312 BERGIS FARM DR$1,999,00044.24804DETACHD
541 8th ST$2,400,00043.13559DETACHD
2248 SUMMIT CT$2,450,000423024DETACHD
2430 SUMMIT CT$4,500,000333074DETACHD
17950 KELOK RD365. – 389,99.44.13600DETACHD

PENDING Oct 23-29, 2023

AddressList PriceBedsBathsSFProp TypeDays
1228 CEDAR ST$625,000$321302DETACHD2
16266 PARKER RD$735,000$422014DETACHD94
1525 IVY CT$739,000$42.12163DETACHD93
34 CHURCHILL DOWNS$774,900$432080DETACHD95
12 MORNINGVIEW LN$799,000$32.12730ATTACHD51
12123 ORCHARD HILL WAY$874,900$42.12841DETACHD107
18499 OLD RIVER DR$1,599,000$43.14217DETACHD130
3600 UPPER DR$1,849,000$533771DETACHD195
541 8th ST$2,400,000$43.13559DETACHD

SOLD Oct 23-29, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
5650 LAKEVIEW BLVD$515,000$449,900$31990DETACHD94
4980 SUNTREE LN$549,000$450,000$322715DETACHD45
5955 CLAIRMONT CT$579,800$505,000$321824ATTACHD162
114 GREENRIDGE CT$599,000$550,000$21.11112DETACHD10
378 9TH ST$749,000$760,000$32.12135DETACHD67
956 WESTPOINT RD$1,195,000$1,150,000$43.14192DETACHD70
4688 UPPER DR$1,350,000$1,200,000$32.12019DETACHD61
16394 LAKE FOREST BLVD$1,250,000$1,375,000$533292DETACHD1
15290 QUARRY RD$1,999,000$1,971,000$32.12404DETACHD5
10 INDEPENDENCE AVE$2,198,000$2,000,000$43.13962DETACHD14
5220 FIRWOOD RD$8,950,000$7,000,000$44.35235DETACHD111
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 Oct 16-22, 2023

Lake week in Lake Oswego we had 9 properties come onto the market. 2 of those sold quickly and appear in this report as pending sales. We had 10 properties move to pending status and 14 closed sales.

See below for RMLS data.

New on the Market Oct 16-22, 2023

AddressTypePriceBedroomsBathsSq Feet
45 Eagle Crest Dr #208Condo$219,900221046
16131 Lindsay CtDetached$680,00042.51832
4740 Lamont CtDetached$825,000321776
19025 Indian Springs CirDetached$889,95042.51811
18368 Tamaway DrDetached$1,150,000433741
364 Northshore RdDetached$1,795,000322066
399 Furnace StCondo$3,500,00033.54072

Pending Sales Oct 16-22, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
54 Cervantes CirCondo$280,00021.59125
3433 McNary Pkwy #503Condo$318,00021.511362
480 S State StCondo$375,000321659185
207 OswegoCondo$390,00022149717
3672 Spring LnCondo$439,90022111720
15290 Quarry RdDetached$475,0003199094
5733 Kimball CtDetached$659,00042134659
10 Sherwood CtDetached$949,00043.532892
3460 Lake Grove AveDetached$1,498,00032167330
1101 Crestline CtDetached$3,299,00044.5+.5722642

Sold/Closed Oct 16-22, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
4 Touchstone #65Condo$320,000$310,000135153
2818 Poplar WayDetached$550,000$435,000105634
5054 Foothills Dr ACondo$445,000$445,000125234
15370 Twin Fir RdDetached$560,000$560,00015468
5053 W Sunset DrAttached$595,000$590,000172029
545 Hemlock StDetached$669,900$650,0009844
18351 Wood Thrush WayDetached$690,000$690,00017624
16 Walking Woods DrDetached$779,000$762,8662897109
1481 Greentree CirDetached$875,000$867,000270480
11 El Greco StDetached$899,000$892,00024442
2834 Glenmorrie DrDetached$895,000$927,00024593
885 Lake Forest DrDetached$1,100,000$937,000220645
4353 Snowbrush CtDetached$1,500,000$1,375,000380848
17173 Cedar RdDetached$1,900,000$1,725,0003996236

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 Oct 2-8, 2023

Last week in Lake Oswego there were 12 new listings, 2 of which sold very fast and appear in this report as pending sales. There were a total of 15 properties that accepted offers and moved to pending status (pretty good for October!), and there were 8 closed sales.

See below for RMLS data.

New on the Market Oct 2-8, 2023

AddressTypePriceBedroomsBathsSq Feet
45 Eagle Crest #220Condo$250,00011768
750 1st St E29Condo$350,00011986
16394 Lake Forest BlvdDetached$599,00021.51112
17903 Ridge Lake DrDetached$854,99942.52540
1177 C AveDetached$1,100,000321957
1 Creekside TerrDetached$1,185,000544230
14210 Amberwood CirDetached$1,200,000433391
4854 Upper DrDetached$1,375,000532879
13052 Knaus RdDetached$1,690,000433026
915 Cedar StDetached$1,695,00043.53219

Pending Sales Oct 2-8, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
3433 McNary Pkwy #601Condo$325,00022.5128520
5225 Jean Rd #106Condo$400,00032140029
4093 Jefferson PkwyCondo$419,00022.5140348
114 Greenridge CtAttached$519,90032182474
668 McVey Ave #57Condo$549,00031.599239
2818 Poplar WayDetached$550,00031105634
15370 Twin Fir RdDetached$560,0003215468
51 Oriole LnDetached$589,0003212163
2834 Glenmorrie DrDetached$895,0002324593
13851 Verte CtDetached$939,00043292515
17144 Warren CtDetached$999,00042.528046
740 Pebble Beach CtDetached$1,050,0003217456
14205 Edenberry DrDetached$1,100,00032.5321916
1633 Maple StDetached$1,190,000333448122
503 Laurel StDetached$1,349,00043.53169115

Sold/Closed Oct 2-8, 2023

AddressTypeList PriceClosed PriceSQ FeetCDOM
4323 Lakeview BlvdDetached$550,000$561,000148335
5051 W Sunset DrAttached$620,000$620,000173412
4 Adams CtDetached$699,900$640,000228750
17503 Schalit WayDetached$759,900$755,15018014
4840 Dogwood DrDetached$1,125,000$800,000271695
1714 Greentree RdDetached$920,000$808,0003110190
14051 Chelsea DrDetached$1,300,000$1,350,00030221
650 1st StCondo$1,595,000$1,435,0002767101

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 Sept 25-Oct 1, 2023

With all of the jitters about the economy that is currently filling the news cycle, I am finding these market activity reports particularly important. The biggest trend I am seeing is that houses are simply taking a little longer to sell, but they are selling. And this week’s report I find encouraging. A healthy real estate market has balanced numbers: as many houses are coming on the market as a going pending and as are selling. Last week in Lake Oswego this was solidly the case. There were 13 new listings, 2 of which sold quickly and appear in this report as pending sales. There were 13 pending sales and there were 11 closed sales. This is extremely balanced. It’s not a seller’s market, it’s not a buyer’s market, it’s a solid market.

See below for RMLS data.

New on the Market Sept 25-Oct 1, 2023

AddressTypePriceBedroomsBathsSq Feet
207 Oswego SummitCondo$390,000221497
3672 Spring LnCondo$439,900221117
668 McVey Ave #42Condo$499,90021852
15370 Twin Fir RdDetached$560,000321546
640 Southshore BlvdDetached$760,00022.52391
17144 Warren CtDetached$999,00042.52804
740 Pebble Beach CtDetached$1,050,000321745
5330 Carman Grove LnDetached$1,100,00032.52493
16850 Cortez CtDetached$1,900,000443650
15112 Quarry RdDetached$1,950,00054.53953
13799 Atwater LnDetached$3,995,000344700

Pending Sales Sept 25-Oct 1 2023

AddressTypePriceBedroomsBathsSq FeetDOM
5054 Foothills Dr ACondo$445,0002212522
1720 Fernwood DrDetached$579,0003215605
15930 Waluga DrDetached$599,90031.5104010
18351 Wood Thrush WayDetached$690,0003217624
16266 Parker RdDetached$765,00042201466
1481 Greentree CircleDetached$875,00043270419
10 Independence AveDetached$1,150,00043.5419270
5955 Clairmont CtDetached$1,250,0005332921
3894 Tamarack LnDetached$1,499,00043.5403523
5220 Firwood RdDetached$1,999,00032.525075
611 Ridgeway RdDetached$2,099,00045.5484744
4247 Lords LnDetached$2,399,00043.53840102
956 Westpoint RdDetached$8,950,00044.5+.5+.55235111

Sold/Closed Sept 25-Oct 1, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
16200 Pacific Hwy #29Condo$500,000$500,00012079
17825 Tualata AveDetached$535,000$540,000118211
47 GreenridgeCtAttached$534,900$550,00011762
1368 Boca Ratan DrAttached$610,000$592,5001683109
89 Kingsgate RdDetached$675,000$640,000171329
6062 Burma RdDetached$650,000$649,000187596
16 Aquinas StDetached$699,000$675,000172027
529 Livingood LnDetached$800,000$800,00021244
21 Aquinas StDetached$799,900$930,00025787
13880 Knaus RdDetached$1,500,000$1,375,000376258
2600 Glenmorrie DrDetached$2,298,000$2,175,000423213

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 Sept 11-17, 2023

Fall is definitely in the air and the real estate market in Lake Oswego is transitioning into the typical ebbing of the season. We had 10 new listings last week, one of which sold quickly and appears in this report as a pending sale. We had 16 properties move to pending status and 13 closed sales.

See below for RMLS data.

New Listing Sept 11-17, 2023

AddressTypePriceBedroomsBathsSq Feet
45 Eagle Crest Dr #401Condo$278,00011768
3672 Spring LnCondo$450,000221117
12844 Boones Ferry RdCondo$489,00022.51191
51 Greenridge CtAttached$525,000221348
1975 Mapleleaf RdDetached$725,000422330
5097 Rosewood StDetached$775,00042.51920
13932 Sundeleaf DrDetached$1,449,00032.53068
47 Hillshire DrDetached$1,550,00042.53324
13084 Amber PlDetached$5,850,000335685

Pending Sales Sept 11-17, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
100 Kerr Pkwy #42Condo$220,00021.582259
30 Cervantes CircleCondo$277,00021.5111222
92 Cervantes CircleCondo$279,00021.591293
3972 Carman DrCondo$395,00022.512255
4306 Botticelli StCondo$450,00022.5+.5204362
18521 Don Lee WayDetached$475,0003212262
47 Greenridge CtAttached$534,90021.599223
668 McVey Ave #57Condo$549,00031.599223
1795 Kilkenny Rddetached$568,00032144942
5053 W Sunset DrAttached$595,00022.5172029
5051 W Sunset DrAttached$620,00022.5173412
4 Adams CtDetached$675,00032.5228721
378 9th StDetached$1,250,00032.5201961
4688 Upper DrDetached$2,198,00043.5396214
7 Dover WayDetached$2,595,00055.57803106
445 Northshore RdDetached$3,195,00033.53066151

Sold/Closed Sept 11-17, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
3876 Botticelli St #31Condo$355,000$360,000111027
2 Condolea DrCondo$469,000$464,00013128
12886 Boones Ferry RdCondo$475,000$475,75011828
49 Greenridge CtAttached$525,000$523,00015963
100 Greenridge CtAttached$525,000$535,00020046
5059 W Sunset DrAttached$649,000$587,500179453
85 Tanglewood DrDetached$599,000$630,00023231
15718 Murwood CtDetached$840,000$800,000198812
2401 Mayors LnDetached$900,000$845,000307630
2432 Park RdDetached$875,000$872,50023865
7 Cellini CtDetached$1,200,000$1,205,00035603
4230 Sunset DrDetached$1,699,000$1,600,000325024
18475 Crestline DrDetached$2,995,000$2,995,00049105

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

Portland Metro Neighborhood Stats + LO

Here is your monthly look at what’s happening in Portland metro and how it relates to Lake Oswego (broken out at the bottom):

Overview/Fluctuations ~ August 2023 Market Data:                                                                      

In August Inventory showed a bit of a dip but not much. We still have a pretty pronounced shortage of homes persisting. Prices are down from July in most places. Check out the Neighborhood Report below for specifics on various parts of Portland’s metro & surrounding areas.

Rates: “The Fed meets this week and no moves are expected. That is a good sign for rates moving forward”       Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report  for the Portland Metro Area-August 2023:

  • There were 2,923 New Listings in August which is down 8.9% from 3,209 in August 2022 and  up 0.8% from the 2,899 in the previous month/July.
  • At 2,155 August 2023’s Closed Sales (Solds) are down 16.5% from August 2022’s 2,581, and increased 12.7% from the previous month’s total of 1,912.
  • At 2,053 August 2023’s Pending Sales (Accepted Offers) are down 18.9% from August 2022’s 2,530, and also down 4.3% from the previous month/July’s total of 2145.
  • The Average Sale Price for August 2023 of, $608,300 is up a slight  $600. from last year/August 2022’s $607,700, and down $12,100 from the previous month/July’s $620,400. 
  • The “Median Sale Price (the price smack dab in the middle of all sales) in August 2023 of $536,000 dropped $12,400 from August 2022’s $548,400, & $13,900 from July’s $549,900.

NEIGHBORHOODS REPORT:

LAKE OSWEGO: (August ’23)

290 Active Listings (Jul 274)
151 New Listings  (Jul 176)
93 Pending Sales (Jul 109)
111 Closed Sales  (Jul 113)
Average Sale Price for August: $1,184,900 (Jul $990,700)
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.
44 Days on the Market   (Jul 31)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS).

Market Activity ~ Sept 4-10, 2023

Last week Lake Oswego saw 20 properties enter the market, 13 move to Pending status, and 11 Closed/Sold. Right now there are 195 homes to choose from ranging from $220,000 to $11,500,000.

Here is the breakdown:

NEW Sept 4-10, 2023

AddressList PriceBedsBathsSFProp Type
12802 BOONES FERRY RD$395,000$22.11225CONDO
782 LAUREL ST$400,000$321400CONDO
47 GREENRIDGE CT$450,000$221350CONDO
668 MCVEY AVE #14$479,000$11636CONDO
2400 PARK RD$505,000$32.11182CONDO
5051 W SUNSET DR$534,900$21.11176ATTACHD
3972 CARMAN DR$620,000$22.11734ATTACHD
14051 CHELSEA DR$815,000$32.12730ATTACHD
1776 RIDGECREST DR$865,000$32.11966DETACHD
3520 LAKE GROVE AVE$875,000$52.11962DETACHD
1101 CRESTLINE CT$875,000$432704DETACHD
8 HOTSPUR ST$1,300,000433022DETACHD
455 9TH ST$1,495,000321589DETACHD
1142 CRESTLINE CT$1,549,000342550DETACHD
12 MORNINGVIEW LN$1,895,00032.12169DETACHD
1125 NORTHSHORE RD$2,598,00043.13624DETACHD
1481 GREENTREE CIR$2,600,00043.13911DETACHD
750 1ST ST #16$3,299,000$44.27226DETACHD
17264 LAKE HAVEN DR$4,950,000$55.16440DETACHD
5225 JEAN RD #106$5,995,000$44.15876DETACHD

PENDING Sept 4-10, 2023

AddressList PriceBedsBathsSFProp TypeDays
15290 QUARRY RD$499,900$31990DETACHD51
16200 PACIFIC HWY #29$500,000$221207CONDO9
42 SPINOSA$650,000$32.12056DETACHD85
107 KINGSGATE RD$674,900$321516DETACHD12
4980 SUNTREE LN$699,000$32.12135DETACHD67
4500 GALEWOOD ST$775,000$332373DETACHD65
529 LIVINGOOD LN$800,000$32.12124DETACHD4
13410 S FIELDING RD$949,000$321837DETACHD25
4840 SW DOGWOOD DR$949,000$332716DETACHD95
13920 SHIREVA DR$1,300,000$533212DETACHD12
14051 CHELSEA DR$1,300,000$433022DETACHD1
650 1ST ST, Grnd$1,500,00032.12767CONDO101
19494 SW Lorna LN$2,989,00044.24806DETACHD276

SOLD Sept 4-10, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY #31$219,500$219,000$11617CONDO14
19201 INDIAN CREEK AVE$669,900$669,900$42.11721DETACHD7
17753 OVERLOOK CIR$824,900$824,900$433455DETACHD18
1590 HALLINAN ST$874,900$890,000$422070DETACHD4
15789 MURWOOD CT$974,900$1,055,000$42.12232DETACHD4
2411 GLEN EAGLES RD$1,250,000$1,200,000$52.12100DETACHD9
13531 FIELDING RD$1,395,000$1,400,000$43.14566DETACHD7
4665 FIRWOOD RD$1,495,000$1,587,300$32.12574DETACHD2
455 9TH ST$1,895,000$1,895,000$32.12169DETACHD0
915 OAK TER$2,435,000$2,191,777$443816DETACHD298
2936 LAKEVIEW BLVD$3,595,000$3,500,000$53.14208DETACHD4
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) .