Market Activity ~ Feb 8-14, 2021

This last week we saw 6 properties come onto the market, 15 move to Pending status, and 7 Closed/Sold. There are currently a whopping 47 homes on the market in Lake Oswego.

NEW Feb 8-14, 2021

AddressList Price# Beds# BathsTotal SFProp Type
3930 LAKE GROVE AVE, #1B$215,00021956CONDO
5091 TUALATA LN$625,000321500DETACHD
4846 LOWER DR$812,900532655DETACHD
1255 Bickner ST$1,235,00042.12764DETACHD
419 7TH ST$1,350,00042.12813DETACHD
769 4TH ST$1,965,00053.13922DETACHD

PENDING Feb 8-14, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
4000 CARMAN DR #47$259,90022993CONDO4
3433 MCNARY PKWY  #501$269,90022.11136CONDO3
1538 PINE ST$515,000321575DETACHD3
578 2ND ST$539,90022.11361PLNCOMM6
6210 CHILDS RD$699,000321433DETACHD2
5172 GREENSBOROUGH CT$719,00042.12184DETACHD86
4580 TRILLIUM WOODS$739,90032.11992ATTACHD10
876 SUNNY HILL DR$850,00042.12164DETACHD4
2318 HILLSIDE LN$899,99553.13258DETACHD8
2574 PALISADES CREST DR$975,00052.24563DETACHD22
13204 DEERFIELD CT$1,050,00042.13406DETACHD4
5686 LA MESA CT$1,225,00043.13840DETACHD1
16364 IVY LN$1,445,95053.14862DETACHD282
892 8TH ST$1,450,00043.12872DETACHD7
743 6TH ST$1,915,00053.13922DETACHD254

SOLD Feb 8-14, 2021

AddressOpening PriceClosed Price# Beds# BathsTotal SFProp TypeCDOM
47 EAGLE CREST DR  #50$210,000$208,65021932CONDO37
16 AQUINAS ST$525,000$555,00032.11720DETACHD1
3595 UPPER DR$629,000$645,000321420DETACHD4
4515 OAKRIDGE RD$685,000$685,00032.11981ATTACHD54
1111 C AVE$1,549,000$1,500,00043.13354DETACHD141
1547 GLENMORRIE DR$1,995,000$1,910,00043.14042DETACHD129
4357 SOUTHSHORE BLVD$2,995,000$2,600,00055.15220DETACHD152

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.

News & Notes ~ Dec 2020 Year-End Report

Here is your look at the most recent data for the entire Portland area (Dec2020 + Year-End) and how Lake Oswego fits in to this picture just below.

Overview/Fluctuations ~  Market Data Dec 2020:                                    

Inventory is now at a stunning 0.8 months of supply in the Portland area. So… still lower than its  ever been and getting lower, apparently, with Buyers out en force competing over existing  Properties for sale.  Rates right now are hovering at or a little under 3.0%.                                                                                                              

The twelve months of 2019 compared to 2020:

New Listings, (38,442) decreased 5.2%.  Pending Sales (32,849) increased 7.9%, and Closed Sales (32,031) increased 7.8%.  

By Comparison, Twelve months of 2018 as compared to 2019 from last year’s December report read: New Listings (40,579) decreased 1.7%, Pending Sales (30,430) increased 2.1% and Closed Sales (29,700) decreased 0.2%.                                                         

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

  • There were 1,740 New Listings in Dec 2020 increased 37% from Dec of 2019’s 1,270,  and decreased a whopping 22.3% from the previous month/Nov’s 2,238.
  • At 2,789, Dec 2020’s Closed Sales are up 26% from Dec 2019’s 2,213, and also up 1.6% from the previous month/Nov 2020’s total of 2,745
  • At 2,003, Dec 2020’s Pending Sales are up 13% from Dec 2019’s 1,772, and dropped 21.7% from the previous month/Nov 2020’s total of 2,557.
  • The Average Sale Price in Dec 2020 of $514,000 is up $56,300 from last year/Dec2019’s $457,700, and down $7,200 from the previous month/Nov 2020’s $521,200.   YTD increase is 7.6%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Dec 2020 of $455,000 rose from last year/Dec2019’s $405,000 by $50,000, and decreased 2,000 from the previous month/Nov 2020’s $457,000. YTD increase is 7.3%.

LAKE OSWEGO:

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

  •  114 Active Listings (Nov 177) (Dec 2019: 223)
  • 73 New Listings     (Nov 104) (Dec 2019: 50)
  •  110 Pending Sales  (Nov 106) (Dec 2019: 70)
  •  137 Closed Sales    (Nov 166) (Dec 2019: 107)
  • Average Sale Price for Dec: $845,700  (Nov $822,000) (Dec 2019: $732,400)
    • 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.
  •  60 Average Days on the Market   (Nov 50)

Market Activity ~ Jan 11-17, 2021

Last week Lake Oswego saw 6 properties enter the market, 19 proceed to Pending status, and 20 Closed/Sold. Right now there are a whopping 64 beautiful properties available in Lake Oswego.

NEW Jan 11-17, 2021

AddressList Price# Beds# BathsTotal SFProp Type
1790 CONIFER DR$539,000211003DETACHD
116 MIDDLECREST RD$1,390,000432545DETACHD
3555 LAKE GROVE AVE$1,535,00042.13433DETACHD
2230 WEMBLEY PARK RD$1,785,00054.14607DETACHD
1688 LESLIE LN$1,898,00044.15540DETACHD
13585 GOODALL RD$1,900,00043.14282DETACHD

PENDING Jan 11-17, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
45 EAGLE CREST DR  #210$199,00011780CONDO23
47 EAGLE CREST DR  #50$210,00021932CONDO37
4000 CARMAN DR, C49$315,00021.11004CONDO5
241 CERVANTES / Upper$400,000221382CONDO3
16 AQUINAS ST$525,00032.11720DETACHD1
13777 REGENCY CT$585,000222015DETACHD24
18975 OLSON AVE$600,000633569DETACHD5
1427 GREENTREE CIR$605,000322239DETACHD5
4515 OAKRIDGE RD$685,00032.11981ATTACHD54
1202 SPRUCE ST$735,00022.11706DETACHD84
6 YORICK ST$799,950533116DETACHD83
5322 CARMAN GROVE LN$849,90032.12615DETACHD65
17160 WALL ST$850,000433246DETACHD2
730 8TH ST$865,000432395DETACHD4
5775 DOGWOOD DR$1,679,00043.14003DETACHD3
13594 GOODALL RD$1,700,00044.13732DETACHD320
17313 BLUE HERON RD$1,968,00043.13454DETACHD431
1188 CHERRY CIR$2,198,00056.18772DETACHD550
13600 GOODALL RD$2,460,00066.16612DETACHD206

SOLD Jan 11-17, 2021

AddressOpening PriceClose Price# Beds# BathsTotal SFProp TypeCDOM
30 OSWEGO SMT, Bldg 4$198,500$197,00011700CONDO78
4 TOUCHSTONE  #85$219,000$197,45032.11351CONDO47
4000 CARMAN DR  #79$270,000$257,00022993CONDO53
2061 BONNIEBRAE DR$405,000$390,00032.11687ATTACHD27
16342 KIMBALL ST$525,000$498,00031.11250DETACHD70
1101 HEMLOCK ST$589,875$579,90032.12213DETACHD137
15677 FIELDSTONE DR$798,950$650,00032.12527DETACHD156
18150 BRYANT RD$590,000$650,000321468DETACHD8
314 2ND ST$740,000$725,00033.11815CONDO38
1604 COUNTRY CLUB RD$800,000$760,00043.13878DETACHD34
17970 MEADOWLARK LN$899,000$926,250433640DETACHD1
2349 OAKHURST LN$935,000$950,00042.13548DETACHD8
14144 GOODALL RD$950,000$972,000533701DETACHD157
14521 UPLANDS DR$1,150,000$1,150,000433520DETACHD0
5087 LAKEVIEW BLVD$1,200,000$1,200,00043.12957DETACHD0
488 7TH ST$1,395,000$1,395,00032.12801DETACHD0
17677 WESTVIEW DR$1,699,000$1,640,00054.15531DETACHD115
2510 WEMBLEY PARK RD$1,895,000$1,820,00043.14868DETACHD65
1287 CHERRY LN$2,595,000$2,630,00054.15312DETACHD110
13201 KNAUS RD$3,500,000$3,000,000433300DETACHD0

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

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

News & Notes ~ Aug 2020 Numbers

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

Inventory is still very low.  Pending Sales (Offers being accepted) are up this summer. About the same as July, and up a whopping 26.2% from last year.

It is still considered a Sellers’ Market and Buyers are still out en force. Rates are still very good, around 2.875 today.

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

  • There were 3,885  New Listings in Aug 2020 which increased 3.4%  from Aug of 2019’s 3,757, and decreased 8.3% over the previous month/July’s 4,236.
  • At 3,149, Aug 2020’s Closed Sales are up at 8.5% from Aug 2019’s 2,901, and dropped by 7.1% from the previous month/July 2020’s total of 3,391
  • At 3,697, Aug 2020’s Pending Sales are up 26.2% from Aug 2019’s 2,929, and increasing 1.1% over the previous month/July 2020’s total of 3,656.
  • The Average Sale Price in Aug 2020 of $511,000 is up $48,400 from last year/Aug 2019’s $462,600, and is also up $8,700 from the previous month/July 2020’s $502,300.   YTD increase is 4.8%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Aug 2020 of $449,000 rose from last year/July 2019’s $417,500 by $31,500, and is up by $4,000 from the previous month/July 2020’s $445,000    YTD increase is 4.9%.

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

  • North Portland:  $461,800              3.6%   (July $453,900)
    •                                                     YTD Median: $427,000
  • NE Portland:  $527,500                   2.6%   (July $515,100)
    •                                                     YTD Median: $445,000
  • SE Portland:  $487,200                   4.7%   (July $459,500)
    •                                                     YTD Median: $400,000
  • Gresham/Troutdale:   $393,900     2.3%   (July $393,100)
    •                                                     YTD Median: $369,000
  • Milwaukie/Clackamas:  $480,800  4.9%   (July $487,000)
    •                                                     YTD Median: $442,000
  • Oregon City/Canby:   $481,800      4.5%   (July $447,300 )
    •                                                     YTD Median: $439,800
  • Lake Oswego/West Linn:$787,000  10.2%  (July $830,600)
    •                                                      YTD Median: $629,000
  • West Portland:    $656,500             1.8%  (July $629,500)
    •                                                     YTD Median: $540,000
  • NW Wash County:  $574,200          2.5%   (July $575,600 )
    •                                                      YTD Median: $513,000
  • Beaverton/Aloha:     $442,000       3.1%   (July $416,300)
    •                                                     YTD Median: $410,500
  • Tigard/Wilsonville:   $537,900        5.7%   (July $537,300)
    •                                                      YTD Median: $474,000
  • Hillsboro/Forest Grove: $452,400  5.8%   (July $437,100)
    •                                                      YTD Median: $404,000

LAKE OSWEGO:

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

    •  290 Active Listings (July 311)
    •  229 New Listings     (July 242)
    •  208 Pending Sales   (July 191)
    •  178 Closed Sales       (July 193)
    • Average Sale Price for Aug: $787,000  (July $830,600)
      • 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.
    •  71 Average Days on the Market   (July 62)

 

Market Activity ~ Sept 14-20, 2020

Last week in Lake Oswego there were 14 New listings, 20 properties that went into Pending status, and 32 Closed sales.  There are currently 181 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Sept 14-20, 2020)

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #112 $219,900 3 2.1 1351 CONDO
4615 LAKEVIEW BLVD/Grnd $242,500 1 1 753 CONDO
4045 JEFFERSON PKWY $310,000 2 2.1 1182 CONDO
668 McVey AVE #65 $315,000 1 1 636 CONDO
937 COUNTRY CLUB RD $503,500 2 1 1650 DETACHD
5885 DOVE CT $599,900 3 3 1795 DETACHD
29 WALKING WOODS DR $600,000 3 2 2311 DETACHD
17226 TUALATIN ST $695,000 4 2.1 1942 DETACHD
15988 WHITE OAKS DR $749,950 4 2.1 2854 DETACHD
13998 WESTCOTT CT $849,900 4 2.1 2727 DETACHD
13217 FOX RUN $868,000 4 3 2906 DETACHD
639 CARRERA LN $1,350,000 4 3.1 4447 DETACHD
15536 VILLAGE DR $1,350,000 5 3 3985 DETACHD
629 5TH ST $1,475,000 4 2.1 2985 DETACHD

Pending Sales (Sept 14-20, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 Carman DR A-16 $257,000 2 2 1025 CONDO 48
213 OSWEGO SMT / Upper $312,700 2 2 1383 CONDO 4
16200 PACIFIC HWY #24 $315,900 2 2 1190 CONDO 164
4093 JEFFERSON PKWY $324,500 2 2.1 1302 CONDO 22
6073 HARRINGTON AVE $429,900 2 1 1050 DETACHD 34
1001 CEDAR ST $499,000 4 2.1 2572 DETACHD 5
5907 KENNY ST $499,900 3 2 1283 DETACHD 1
18706 BRYANT RD $645,000 3 2.1 2489 DETACHD 99
49 TANGLEWOOD DR $649,900 4 2.1 2502 DETACHD 161
15480 HERITAGE CT $665,000 4 2.1 2432 DETACHD 6
39 TOUCHSTONE $699,900 4 3 3400 DETACHD 39
2 MOZARTEUM CT $705,000 4 2.1 2192 DETACHD 4
4045 MELISSA DR $758,000 4 2.1 2529 DETACHD 7
2341 STONEHURST CT $885,000 4 2.1 3389 DETACHD 15
19457 35TH CT $929,000 4 2.1 3538 DETACHD 40
5983 CLAIRMONT CT $975,000 5 3 3518 DETACHD 1
15469 DIAMOND HEAD RD $1,098,000 4 3 3734 DETACHD 460
717 8TH ST $1,170,000 4 2.1 2584 DETACHD 54
17522 BRYANT RD $1,399,000 4 4 3545 DETACHD 39
17787 CARDINAL DR $2,098,000 4 4 3270 DETACHD 62

Sold/Closed (Sept 14-20, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #15 $170,000 $164,000 1 1 798 CONDO 23
4 TOUCHSTONE #81 $224,950 $175,000 3 2.1 1350 CONDO 29
4 TOUCHSTONE #130 $205,000 $195,000 2 2 984 CONDO 186
3864 BOTTICELLI ST $257,500 $255,000 2 1.1 1132 CONDO 28
7 SUMMIT RIDGE CT $449,000 $440,000 2 2.1 1704 ATTACHD 14
1 PHEASANT RUN $475,000 $450,000 3 2.1 1780 DETACHD 11
18344 TERRY AVE $425,000 $476,000 3 1 1204 DETACHD 6
151 KINGSGATE RD $499,999 $490,000 2 2 1585 DETACHD 34
112 TOUCHSTONE TER $520,000 $535,000 3 2.1 2002 ATTACHD 0
17200 ROBB PL $610,000 $600,000 3 2.1 2206 DETACHD 9
1714 MEADOWS DR $583,000 $602,000 3 2 1804 DETACHD 4
5834 SEVILLE AVE $679,900 $620,000 3 2 2056 DETACHD 13
4962 HARVARD CT $670,000 $642,000 4 2.1 2522 DETACHD 52
12788 SIERRA VISTA DR $770,000 $722,000 4 3.1 2880 DETACHD 29
460 BOCA RATAN DR $705,000 $750,000 3 3 2164 DETACHD 5
1868 GLENMORRIE DR $829,900 $769,000 4 4 3158 DETACHD 12
13885 PROVINCIAL HILL DR $799,500 $790,000 4 3.1 2970 DETACHD 2
885 8TH ST $949,000 $885,000 3 2 1730 DETACHD 36
17358 BROOKHURST DR $895,000 $895,000 4 3 3592 DETACHD 2
5224 LOWER DR $925,000 $925,000 4 3 2571 DETACHD 5
44 TOUCHSTONE $975,000 $955,000 5 3 2507 DETACHD 25
19345 RIVERWOOD LN $975,000 $969,000 4 3.1 3383 DETACHD 7
6040 LAKEVIEW BLVD $1,200,000 $1,123,000 5 3 3701 DETACHD 42
18253 SIENA DR $1,395,000 $1,200,000 5 4 4375 DETACHD 63
5337 WASHINGTON CT $1,225,000 $1,225,000 4 3 3789 DETACHD 5
3122 Glenmorrie DR $1,299,000 $1,225,000 4 3.1 3724 DETACHD 14
17684 STAFFORD RD, Lot 3 $1,499,950 $1,435,000 6 4.1 4407 DETACHD 563
3600 SOUTHSHORE BLVD $1,650,000 $1,463,845 3 2.1 2117 DETACHD 60
610 4TH ST $1,650,000 $1,525,000 4 2.1 3394 DETACHD 157
883 8th ST $1,750,000 $1,675,000 5 4.1 4546 DETACHD 29
936 EVERGREEN RD $1,995,000 $1,920,000 4 3.1 3772 DETACHD 297
18414 OLD RIVER LNDG $2,980,000 $2,400,000 4 4.2 7022 DETACHD 95

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.

8 Ways to Make a House Feel Larger

I think it is pretty well understood that proper staging of a house will help it to sell both more quickly and also at a higher price. One of the key elements in good staging is to make the rooms in the house feel as large as possible. In some houses this is easy because they already have large rooms. In other houses it needs to be enhanced and here are a few tips to help get this accomplished.

1. Think vertical. Decorating elements that draw the eye up to the ceiling will help the room feel taller. This can be done with a book shelf that goes all the way to the ceiling or a pendant light fixture that hangs down from the ceiling.

2. Use furniture that you can see under or through. Sofas and chairs with legs rather than skirts allows the eye to see under and beyond them. A glass coffee table or dining table also accomplishes this.

3. White walls and trim lightens the room and gives a sense of soaring, bright space.

4. Go with a few big accents as opposed to a bunch of little ones. A big piece of art or a single large chair has more impact than a bunch of little stuff that makes a room feel cluttered and cramped.

5. Get away from the wall. Pull furniture way from the wall and into the room to create conversation areas. When a sofa is pushed up against a wall, it drawers your eye to the wall, which brings the walls forward and makes the room feel smaller.

6. Simplify the color scheme. When walls and furniture are complimentary shades of the same color scheme it makes the room feel unified and more spacious. A bunch of different colors draws the eye to each individual object as opposed to a unified and uncomplicated space.

7. Don’t hang curtains. Curtains obstruct views to the outside and block natural light.

8. Bring the outside in. See #7 above, but also consider having a few house plants and decorating with natural objects and fibers. This helps to bring the outdoors inside to combine the space and enlarge the feeling of living area.

One of the services that Linda and I provide is that we go through a house with the homeowner before it is listed for sale. Visiting each room, we advise what to do to get that room ready so that it will show at its very best. Please don’t hesitate to give one of us a call if you are wanting to get your house ready to sell.

I hope you have found this information helpful. As always, thanks for reading the blotter.
Dianne

Market Activity ~ Aug 31 – Sept 6, 2020

Last week in Lake Oswego there were 14 New listings, 33 properties that went into Pending status, and 29 Closed sales.  There are currently 190 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 31-Sept 6, 2020)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWY #5 $169,000 1 1 617 CONDO
92 CERVANTES CIR $205,000 2 1.1 912 CONDO
3872 BOTTICELLI ST $289,900 3 2 1171 CONDO
4107 JEFFERSON PKWY $329,000 2 2.1 1507 CONDO
4347 SILVER CT $455,000 3 2.1 1844 CONDO
2631 SW ORCHARD HILL PL $619,900 4 2.1 2447 DETACHD
18857 INDIAN SPRINGS CIR $839,900 4 3 2572 DETACHD
5228 LOWER DR $850,000 3 2.1 2723 DETACHD
4850 LOWER DR $869,900 4 3 2700 DETACHD
2591 PALISADES CREST DR $1,219,000 3 2.1 4916 DETACHD
13744 KNAUS RD $1,450,000 4 3.1 3667 DETACHD
13594 GOODALL RD $1,669,000 4 4.1 3732 DETACHD
14500 UPLANDS DR $2,599,000 5 4.2 5544 DETACHD
1101 CRESTLINE CT $3,695,000 4 4.3 7226 DETACHD

Pending Sales (Aug 31-Sept 6, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
217 CERVANTES $250,000 2 1.1 1204 CONDO 12
4000 Carman DR, A-16 $257,000 2 2 1025 CONDO 37
3864 BOTTICELLI ST $257,500 2 1.1 1132 CONDO 28
16200 S Pacific HWY #23 $319,000 2 2 1208 CONDO 64
30 WHEATHERSTONE $415,000 3 2.1 1692 CONDO 1
25 AQUINAS ST $445,000 3 2 1477 DETACHD 18
6136 FERNBROOK CIR $449,900 3 1 1250 DETACHD 5
18508 BENFIELD AVE $479,900 4 2 1521 DETACHD 5
19175 SW PILKINGTON RD $599,900 3 1.1 1820 DETACHD 5
17950 MEADOWLARK LN $649,000 5 3 2710 DETACHD 32
639 2ND ST $649,900 2 2.1 1457 ATTACHD 25
620 TIPPECANOE CT $649,900 3 2 1718 DETACHD 9
6550 CHILDS RD $650,000 4 3 1864 DETACHD 2
17838 LAKE HAVEN DR $839,900 4 3 2214 DETACHD 3
17898 HILLSIDE DR $849,000 4 3 4158 DETACHD 8
1983 RIDGEWOOD RD $898,000 5 4.1 4961 DETACHD 142
5303 AMBERWOOD CT $999,000 3 2.1 3490 DETACHD 18
3343 FIR RIDGE RD $999,850 4 3 3430 DETACHD 23
1149 CHERRY LN $1,050,000 3 2.2 3231 DETACHD 12
4471 West RD, Lot 4 $1,125,000 4 3 3885 DETACHD 10
929 COUNTRY CMNS $1,200,000 4 3 3962 DETACHD 43
2250 SOUTHSHORE BLVD $1,248,000 4 4.1 4432 DETACHD 201
3080 WESTVIEW CIR $1,299,000 4 3 3473 DETACHD 38
16850 CORTEZ CT $1,349,900 4 4 3550 DETACHD 134
210 NORTHSHORE RD $1,398,000 4 3.1 3148 DETACHD 891
1318 HORSESHOE CURV $1,425,000 5 3 3715 DETACHD 3
17010 Canal CIR $1,665,000 4 3.1 3746 DETACHD
4233 UPPER DR $1,665,000 5 3.1 3902 DETACHD 430
936 EVERGREEN RD $1,949,000 4 3.1 3772 DETACHD 297
1217 Lake Front RD $1,995,000 3 2.1 2628 DETACHD 75
17787 CARDINAL DR $2,098,000 4 4 3270 DETACHD 44
16793 GRAEF CIR $2,150,000 4 3.1 4220 DETACHD 116
757 LAKE SHORE RD $3,089,000 4 3.1 4098 DETACHD 72

Sold/Closed (Aug 31-Sept 6, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #9 $194,900 $194,900 2 1 908 CONDO 4
3930 LAKE GROVE AVE #3A $210,800 $200,000 2 1 956 CONDO 183
4000 CARMAN DR, C39 $229,000 $223,500 2 2 866 CONDO 14
47 EAGLE CREST DR $259,500 $236,500 3 2 1026 ATTACHD 64
90 OSWEGO SMT / Upper $239,000 $241,500 2 2 1140 CONDO 2
4621 LAKEVIEW BLVD / Upper $279,999 $276,000 2 2 1178 CONDO 8
4372 WOODSIDE CIR $339,900 $342,000 2 2 1178 ATTACHD 4
12844 BOONES FERRY RD / Grnd $409,900 $398,000 2 2.1 1177 CONDO 21
1224 HEMLOCK ST $400,000 $415,000 2 1 784 DETACHD 3
16215 LAKE FOREST BLVD $425,000 $425,000 3 1 1001 DETACHD 5
19235 REDWING CT $619,900 $581,109 4 2 2084 DETACHD 6
13758 REGENCY CT $649,900 $665,000 3 2.1 1986 DETACHD 2
762 D AVE $640,000 $680,000 2 2 1358 DETACHD 2
5675 VICTORIA CT $800,000 $682,000 3 2.1 2546 DETACHD 92
2811 PARK RD $659,000 $690,000 4 2.1 2248 DETACHD 4
397 LIVINGOOD LN $719,000 $714,000 3 2.1 2631 DETACHD 6
2782 TOLKIEN LN $799,000 $728,812 4 3.1 3207 DETACHD 19
4991 HARTFORD PL $859,950 $830,000 3 3.1 3098 DETACHD 28
802 CLARA CT $849,000 $839,000 4 3 2886 DETACHD 7
32 WILBUR ST $862,500 $862,500 3 2.1 2671 CONDO 1
18283 LOTHLORIEN WAY $889,000 $875,000 4 3 3053 DETACHD 13
18220 RIVER EDGE CT $1,050,000 $938,800 4 3 3432 DETACHD 60
1425 MORNING SKY CT $895,000 $945,000 4 3 3282 DETACHD 2
100 LEONARD ST $1,079,000 $1,015,000 3 2.1 3137 CONDO 21
1300 GLENMORRIE DR $1,050,000 $1,050,000 5 3.1 4613 DETACHD 3
14414 PFEIFER DR $1,199,000 $1,210,000 4 3.1 3744 DETACHD 61
13344 BRIARWOOD LN $1,369,000 $1,315,000 4 3 3413 DETACHD 394
2126 WEMBLEY PL $1,425,000 $1,400,000 4 3.1 3531 DETACHD 42
14722 UPLANDS DR $1,599,000 $1,680,900 4 4.1 3831 DETACHD 3

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

The Buzz About Inventory

Real Estate is a complex beast, but some aspects of it are pretty simple- Supply and Demand, for instance.  When there are fewer homes on the market, Sellers are in a better position to bargain as it often means there will be multiple offers coming in. Markets like this wreak havoc with Buyers and Appraisers alike as folks start pushing prices up in order to win a given property in a bidding situation. I tell my clients who are worried about pushing value beyond the status quo with a higher offer that they are actually setting the standard for Appraised Value on homes in their new neighborhood as Appraisers really are just calculating what people are willing to pay/have paid, thus how much homes in any given area are worth. The sale only counts toward that calculation however after it is final. The immediate peril of course is the prospect of a Seller being unwilling to budge if the Appraisal comes in lower than the Sale Price and the Buyer is put in the position of having to decide whether to bring cash to the table.

Pluses & Minuses- As far as impact on the Buyer, the upside is that the above scenario spurred by low inventory positively affects future value/appreciation of their property as well as the aforementioned immediate effect of the Closing Sale Price impacting the neighborhood’s value. These things are almost always assured. On the less positive side, depending on what neighborhood this is occurring in, property values can rise to the degree that a large number of people are just priced out of the picture. This is called gentrification and usually relates to lower-priced areas becoming unrecognizable to those who live there and or would have normally wanted to live there. Obviously this is not the case in Lake Oswego which has historically been a generally higher-priced area on the outskirts of Portland, and/but there are areas of Lake Oswego that are wonderful, AND more affordable for many families that could be impacted as well.

So, that is what low inventory does  to the market. As far as how it is arrived at~ Essentially, the Inventory at any given time is calculated at how many months it will take to sell the existing homes on the market based on the current rate at which homes are selling. I used the formula espoused by Sapling to break out comparative Inventory for Lake Oswego.

If we compare just Lake Oswego and its inventory vs July 2019, it looks like this:

  • July 2019: 451 Active Listings divided by Sold & Pendings at 357 = 1.26 Months of Inventory.
  • July 2020: 311 Active Listings divided by Sold & Pendings at 384 = .809 Months of Inventory.

So, you can see how a large number of Buyers actively looking for houses and a limited number of properties for sale can affect the overall landscape of real estate in a given area. Looks like it might be time to sell if you’ve been on the fence?