A Guide to Lake Oswego Real Estate and Community
Brought to you by Dianne Gregoire and Linda Rossi, brokers with Oregon First, a professional real estate company licensed with the Oregon Real Estate Agency.
Contact: Dianne | Linda |
 Here is your look at the most recent data for the entire Portland area (July 2020) and how Lake Oswego fits in to this picture just below.
The Inventory says it all. Well, not maybe all… Just look at the increases over both last month and last year. Pending Sales are up 21.9% over last year/July, and Closed Sales are up 15% over July 2019 as well. Activity was put off in the Spring and is pushing into Summer.
It is currently understood to be a Seller’s Market. There are a large number of multiple-offer transactions for properties that are priced well. That will change as we head into Fall, where Buyers typically have more leverage. It is often a toss-up as to when you make your move as a Seller or a Buyer. Obviously, its good to be a Seller right now, and/but we don’t know where rates are headed, so I wouldn’t wait if I were a Buyer. At the moment, my trusted Mortgage Advisors tell me: Rates are inching up now, hovering around 3.125%.
According to the RMLS Market Action Report for the Portland Metro Area, July 2020:
- There were 4,236 New Listings in July 2020 which increased 6.8% from July of 2019’s 3,966, and increased 15.8% over the previous month/June’s 3,658.
- At 3,391, July 2020’s Closed Sales are up at 15.2% from July 2019’s 2,944, and also up by 25.2% from the previous month/June 2020’s total of 2,709
- At 3,656, July 2020’s Pending Sales are up 21.9% from July 2019’s 2,998, and increased 0.1% (virtually the same) from the previous month/June 2020’s total of 3,654.
- The Average Sale Price in July 2020 of $502,300 is up $36,300 from last year/July 2019’s $466,000, and is also up $22,600 from the previous month/June 2020’s $479,700. YTD increase is 3.7%.
- The “Median” Sale Price (the price smack dab in the middle of all sales) in July 2020 of $445,000 rose from last year/July 2019’s $411,600 by $33,400, and is up by $10,000 from the previous month/June 2020’s $435,000. YTD increase is 4.5%.
Neighborhoods: July’s Average Sale Price + 12-month Appreciation:
- North Portland: $453,900 4.1% (June $447,500)
- NE Portland: $515,100 2.6% (June $486,200)
- SE Portland: $459,500 3.1% (June $462,800)
- Gresham/Troutdale: $393,100 2.0% (June $383,000)
- Milwaukie/Clackamas: $487,000 4.0% (June $479,600 )
- Oregon City/Canby: $447,300 3.4% (June $447,300)
- Lake Oswego/West Linn:$830,600 7.1% (June $721,800)
- West Portland: $629,500 -0.2% (June $609,400)
- NW Wash County: $575,600 2.5% (June $585,000)
- Beaverton/Aloha: $416,300 2.6% (June $417,500)
- Tigard/Wilsonville: $537,300 4.1% (June $504,400)
- Hillsboro/Forest Grove: $437,100 5.4% (June $433,100)
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of July 2020 reported:
-
- 311 Active Listings (June 315)
- 242 New Listings (June 216)
- 191 Pending Sales (June 196)
- 193 Closed Sales (June 135)
- Average Sale Price for July: $830,600 (June $721,800)
- 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.
- 62 Average Days on the Market (June 54)
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Last week in Lake Oswego there were 16 New listings, 35 properties that went into Pending status, and 15 Closed sales. There are currently 206 Properties for sale in Lake Oswego!
Following is the breakdown for you according to RMLS:
New on the Market (Aug 3-9, 2020)
| Address |
List Price |
# Beds |
# Baths |
Total SF |
Prop Type |
| 47 EAGLE CREST DR |
$174,999 |
2 |
1 |
932 |
CONDO |
| 4000 CARMAN DR #E74 |
$229,900 |
2 |
2 |
836 |
CONDO |
| 750 1ST STb #E34 |
$319,900 |
2 |
2 |
1350 |
CONDO |
| 1120 BOCA RATAN DR |
$400,000 |
3 |
2 |
1611 |
ATTACHD |
| 63 AQUINAS ST |
$539,500 |
6 |
3 |
2892 |
DETACHD |
| 71 GREENRIDGE CT |
$549,000 |
3 |
2.1 |
2004 |
ATTACHD |
| 17950 MEADOWLARK LN |
$649,000 |
5 |
3 |
2710 |
DETACHD |
| 320 4TH ST |
$649,000 |
2 |
2.1 |
1731 |
ATTACHD |
| 17088 REBECCA LN |
$650,000 |
5 |
3 |
2558 |
DETACHD |
| 19457 35TH CT |
$959,000 |
4 |
2.1 |
3538 |
DETACHD |
| 5337 WASHINGTON CT |
$1,225,000 |
4 |
3 |
3789 |
DETACHD |
| 18002 PILKINGTON RD |
$1,225,000 |
4 |
3 |
3634 |
DETACHD |
| 3931 Bass LN |
$1,385,000 |
5 |
4.1 |
4248 |
DETACHD |
| 18147 PILKINGTON RD |
$1,796,000 |
4 |
3.1 |
4636 |
DETACHD |
| 1099 TERRACE DR |
$2,495,000 |
5 |
4.1 |
4965 |
PLNCOMM |
| 910 NORTHSHORE RD |
$4,595,000 |
4 |
6.1 |
5455 |
DETACHD |
Pending Sales (Aug 3-9, 2020)
| Address |
List Price |
# Beds |
# Baths |
Total SF |
Prop Type |
CDOM |
| 4 Touchstone #146 |
$224,900 |
2 |
2 |
979 |
CONDO |
88 |
| 47 EAGLE CREST DR |
$249,500 |
3 |
2 |
1026 |
ATTACHD |
64 |
| 3864 BOTTICELLI ST |
$257,500 |
2 |
1.1 |
1132 |
CONDO |
3 |
| 1276 HIDE A WAY CT |
$510,000 |
3 |
2 |
1603 |
DETACHD |
3 |
| 12 WALKING WOODS DR |
$568,000 |
3 |
3 |
2177 |
DETACHD |
3 |
| 17175 REBECCA LN |
$575,000 |
4 |
2.1 |
1833 |
DETACHD |
2 |
| 19235 REDWING CT |
$599,900 |
4 |
2 |
2084 |
DETACHD |
6 |
| 19 MORNINGVIEW CIR |
$629,000 |
3 |
2.1 |
2337 |
DETACHD |
48 |
| 38 NORTHVIEW CT |
$638,900 |
4 |
4 |
3125 |
ATTACHD |
21 |
| 4962 HARVARD CT |
$649,900 |
4 |
2.1 |
2522 |
DETACHD |
52 |
| 14825 RAINBOW DR |
$650,000 |
4 |
3.1 |
2582 |
DETACHD |
12 |
| 2811 PARK RD |
$659,000 |
4 |
2.1 |
2248 |
DETACHD |
4 |
| 1953 INDIAN TRL |
$675,000 |
3 |
2 |
2110 |
DETACHD |
12 |
| 5675 VICTORIA CT |
$699,000 |
3 |
2.1 |
2546 |
DETACHD |
92 |
| 7 BECKET ST |
$749,000 |
4 |
3.1 |
4329 |
DETACHD |
57 |
| 1500 EASTVIEW CT |
$784,999 |
4 |
3.1 |
3872 |
DETACHD |
116 |
| 4405 SUNDEW CT |
$840,000 |
5 |
3.1 |
4535 |
DETACHD |
107 |
| 2146 SUMMIT DR |
$850,000 |
3 |
2 |
2592 |
DETACHD |
3 |
| 19263 MEGLY CT |
$874,000 |
5 |
3 |
3242 |
DETACHD |
66 |
| 1511 Pine |
$879,450 |
3 |
2.1 |
2390 |
DETACHD |
163 |
| 885 8TH ST |
$885,000 |
3 |
2 |
1730 |
DETACHD |
195 |
| 6016 CLAIRMONT CT |
$950,000 |
3 |
2.1 |
3210 |
DETACHD |
9 |
| 5677 CHARLES CIR |
$995,000 |
4 |
2.1 |
2976 |
DETACHD |
5 |
| 100 LEONARD ST / Upper |
$1,079,000 |
3 |
2.1 |
3137 |
CONDO |
21 |
| 5156 SW DAWN ST |
$1,150,000 |
3 |
3 |
2413 |
DETACHD |
16 |
| 14414 PFEIFER DR |
$1,199,000 |
4 |
3.1 |
3744 |
DETACHD |
61 |
| 18260 RIVER EDGE CT |
$1,249,000 |
4 |
3.1 |
4711 |
DETACHD |
63 |
| 14190 SUNDELEAF DR |
$1,424,900 |
5 |
4 |
3688 |
DETACHD |
28 |
| 17684 STAFFORD RD |
$1,499,950 |
6 |
4.1 |
4407 |
DETACHD |
563 |
| 12812 ALTO PARK RD |
$1,500,000 |
4 |
3.1 |
4040 |
DETACHD |
26 |
| 883 8th ST |
$1,699,000 |
5 |
4.1 |
4546 |
DETACHD |
29 |
| 768 BERWICK CT |
$2,098,000 |
4 |
3.1 |
4127 |
DETACHD |
19 |
| 1575 COUNTRY CMNS |
$2,179,000 |
4 |
3.1 |
3951 |
DETACHD |
817 |
| 931 ATWATER RD |
$2,695,000 |
4 |
4.1 |
5059 |
DETACHD |
132 |
| 4175 SOUTHSHORE BLVD |
$3,900,000 |
4 |
4.1 |
6332 |
DETACHD |
1133 |
Sold/Closed (Aug 3-9, 2020)
| Address |
Opening Price |
Closed Price |
# Beds |
# Baths |
Total SF |
Prop Type |
CDOM |
| 16250 PACIFIC HWY #68 |
$210,000 |
$214,000 |
1 |
1 |
900 |
CONDO |
12 |
| 5064 FOOTHILLS DR #19 |
$317,000 |
$317,000 |
2 |
2 |
1252 |
CONDO |
12 |
| 16200 PACIFIC HWY #7 |
$495,000 |
$487,000 |
2 |
2 |
1190 |
CONDO |
29 |
| 1023 HALLINAN ST |
$495,000 |
$515,000 |
3 |
1.1 |
1092 |
DETACHD |
4 |
| 17721 OVERLOOK CIR |
$688,000 |
$637,000 |
3 |
2.1 |
3172 |
DETACHD |
231 |
| 14799 UPLANDS DR |
$724,900 |
$649,900 |
4 |
2 |
2150 |
DETACHD |
110 |
| 17270 CANYON DR |
$674,900 |
$668,000 |
4 |
3 |
2754 |
DETACHD |
5 |
| 17520 REDFERN AVE |
$692,000 |
$675,000 |
2 |
2 |
1776 |
DETACHD |
22 |
| 17502 ERIN CT |
$799,900 |
$785,000 |
4 |
3 |
3014 |
DETACHD |
13 |
| 5267 LAKEVIEW BLVD |
$979,000 |
$885,000 |
4 |
3.1 |
3454 |
DETACHD |
118 |
| 814 LAKE SHORE RD |
$1,249,000 |
$1,241,500 |
3 |
2.1 |
2385 |
DETACHD |
79 |
| 18965 Pilkington RD |
$1,439,000 |
$1,400,000 |
4 |
3 |
3926 |
DETACHD |
19 |
| 4660 UPPER DR |
$1,895,000 |
$1,550,000 |
5 |
3.1 |
3898 |
DETACHD |
209 |
| 17253 KELOK RD |
$2,659,000 |
$2,550,000 |
5 |
4.1 |
4429 |
DETACHD |
7 |
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.
 Westlake is probably the most classic “American” neighborhood in Lake Oswego. Developed in the 1980’s it is winding, quiet streets of lovely homes that just beg you to take your dog for a walk, or your kids to get on their bikes and spend the day outside. It is truly a wonderful neighborhood.
 It’s also unbelievably convenient. Located at the very Western edge of Lake Oswego, it is bounded by I-5 on the West, Melrose St on the North, Fosberg Rd on the East, and Kruse Way on the South. It is literally at the junction of I-5 and Hwy 217. I remember when it was being developed there was a big sign that said “If you lived here, you’d be home right now”. This is because as you leave the freeway, it’s right there. If you live in First Addition, you’ve got another 10 minutes of driving to get home. If you live in Palisades, you’ve also got another 10 minutes of driving to get home. It’s just super convenient.
Westlake has 2 parks, Westlake Park and Southwood Park. Southwood Park is more of a nature area with green lawns and walking paths. Westlake Park is more of a recreation area with a huge playground and an athletic field for baseball and soccer. It is also the sight of the August portion of the Lake Oswego Summer concert series. In a non-covid 19 world, there is a free outdoor concert every Wednesday evening in the month of August.
Westlake Elementary School is also adjacent to this neighborhood, which makes it close enough for kids to walk or ride their bikes to school.
Do you see what I”m saying about a classic “American” neighborhood. It’s like something straight out of a movie. The American dream. A family home and everyone enjoying recreation and friendships.
 The housing in Westlake is primarily single family residential. There are some apartments, but no condos. There is also a very small commercial area with a dozen businesses and a pizza restaurant.
There are currently 8 houses for sale in Westlake. The least expensive is 1861 square feet, 2 bedrooms, 2.5 baths, built in 1986, the interior is mostly original and would benefit from updating. It’s priced at $549,900. The most expensive is 2976 square feet, 4 bedrooms, 2.5 baths, built in 1985, it is beautifully updated and priced at $995,000.
Homes in Westlake sell fast. Because of everything I have shared here, it is a wildly popular place to live and buyers are watching and waiting. When the right house comes onto the market, they jump on it. This makes it not only a great place to live, but owning a home there is also a great investment.
The photos shared here are of homes that I have recently sold in Westlake. I know the neighborhood and would love to help you realize your dream of living in a classic “American” neighborhood.
As always, thanks for reading the blotter.
Dianne
Last week was another very active week for real estate in Lake Oswego. We had 13 new listings, 34 properties move to pending status, and 38 sold/closed sales.
Following is the breakdown for you according to RMLS:
New on the Market (July 27-August 2, 2020)
| Address |
Type |
Price |
BR |
Baths |
Sq Ft |
| 4000 Carmen A-16 |
Condo |
$264,900 |
2 |
2 |
1025 |
| 3433 McNary Pkwy #804 |
Condo |
$269,900 |
2 |
2.5 |
1136 |
| 750 1st St A12 |
Condo |
$369,000 |
2 |
2 |
1350 |
| 1 Pheasant Run |
Detached |
$475,000 |
3` |
2.5 |
1780 |
| 17015 Denny Ct |
Detached |
$549,977 |
3 |
2 |
1756 |
| 16715 Ford Pl |
Detached |
$875,000 |
3 |
2.5 |
3081 |
| 6016 Clairmont Ct |
Detached |
$950,000 |
3 |
2.5 |
3210 |
| 13822 Melrose Pl |
Detached |
$990,000 |
4 |
3.5 |
3529 |
| 1507 Cedar St |
Detached |
$1,099,900 |
3 |
2.5 |
2505 |
| 16429 Bonaire Ave |
Detached |
$1,299,900 |
4 |
3.5 |
2967 |
| 1111 C Ave |
Detached |
$1,549,000 |
4 |
3.5 |
3354 |
| 1003 Terrace Dr |
Detached |
$3,500,000 |
5 |
5.5+.5 |
7428 |
| 1415 Chandler Rd |
Detached |
$4,250,000 |
6 |
4.5+.5 |
7054 |
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Pending Sales (July 27-August 2, 2020)
| Address |
Type |
Price |
BR |
Baths |
Sq Ft |
CDOM |
| 7 Crestfield Ct |
Condo |
$160,000 |
1 |
1 |
689 |
31 |
| 16 Cervantes Circle 6E |
Condo |
$220,000 |
2 |
1.5 |
912 |
6 |
| 207 Oswego Summit |
Condo |
$289,000 |
2 |
1.5 |
1506 |
20 |
| 750 1st St #D25 |
Condo |
$325,000 |
2 |
2 |
1350 |
8 |
| 12844 Boones Ferry Rd |
Condo |
$390,000 |
2 |
2.5 |
1177 |
21 |
| 6 Wheatherstone #3 |
Condo |
$404,000 |
3 |
2.5 |
1692 |
11 |
| 5071 Tualata Ln |
Detached |
$449,000 |
3 |
2 |
1540 |
45 |
| 26 Briarwood Rd |
Detached |
$495,000 |
4 |
2.5+.5 |
2554 |
4 |
| 5767 Baleine St |
Detached |
$499,900 |
3 |
1.5 |
1160 |
4 |
| 29 Da Vinci St |
Detached |
$519,000 |
4 |
3 |
2632 |
5 |
| 18554 Hallberg Ct |
Detached |
$524,900 |
3 |
1.5 |
1202 |
2 |
| 6352 Dawn St |
Detached |
$584,900 |
3 |
2 |
1709 |
5 |
| 86 Greenridge Ct |
Attached |
$599,000 |
4 |
3.5 |
2718 |
39 |
| 1941 Green Acres Ln |
Detached |
$599,900 |
4 |
2.5 |
2459 |
394 |
| 12 Mozarteum Ct |
Detached |
$659,000 |
4 |
2.5 |
2915 |
30 |
| 16969 Alder Circle |
Detached |
$699,000 |
3 |
2 |
1676 |
18 |
| 397 Livingood Ln |
Detached |
$719,000 |
3 |
2.5 |
2631 |
6 |
| 28 Westridge Dr |
Detached |
$724,900 |
4 |
2.5 |
2580 |
25 |
| 12562 Orchard Hill Rd |
Detached |
$739,000 |
4 |
2.5 |
2574 |
47 |
| 14655 Uplands Dr |
Detached |
$739,000 |
3 |
2 |
2462 |
126 |
| 1868 Glenmorrie Dr |
Detached |
$769,000 |
4 |
4 |
3158 |
12 |
| 2782 Tolkien Ln |
Detached |
$769,000 |
4 |
3.5 |
3207 |
19 |
| 12821 Sierra Vista Dr |
Detached |
$819,500 |
5 |
3.5 |
3352 |
5 |
| 32 Wilbur St |
Condo |
$862,500 |
3 |
2.5 |
2671 |
1 |
| 1523 Pine |
Detached |
$869,900 |
3 |
2.5 |
2390 |
151 |
| 18283 Lothlorien Way |
Detached |
$889,000 |
4 |
3 |
3053 |
13 |
| 2944 Vale Ct |
Detached |
$958,000 |
4 |
2.5 |
3414 |
81 |
| 44 Touchstone |
Detached |
$975,000 |
5 |
3 |
2507 |
25 |
| 3122 Glenmorrie Dr |
Detached |
$1,299,000 |
4 |
3.5 |
3724 |
14 |
| 714 Evergreen Rd |
Detached |
$1,349,000 |
4 |
3 |
3464 |
135 |
| 610 4th St |
Detached |
$1,550,000 |
4 |
2.5 |
3394 |
157 |
| 17322 Cedar Rd |
Detached |
$1,950,000 |
4 |
4 |
3432 |
30 |
| 17147 Old River Dr |
Detached |
$2,350,000 |
4 |
4.5+.5 |
6936 |
52 |
| 18414 Old River Landing |
Detached |
$2,980,000 |
4 |
4.5+.5 |
7022 |
55 |
Sold/Closed (July 27-August 2, 2020)
| Address |
Type |
List Price |
Sold Price |
Sq Ft |
CDOM |
| 86 Kingsgate Rd C-102 |
Condo |
$225,000 |
$225,000 |
924 |
3 |
| 668 McVey Ave #82 |
Condo |
$235,000 |
$235,000 |
992 |
24 |
| 200 Burnham Rd #304 |
Condo |
$329,000 |
$309,000 |
1305 |
25 |
| 5225 Jean Rd #304 |
Condo |
$329,500 |
$325,000 |
1400 |
23 |
| 4324 Botticelli St |
Condo |
$359,000 |
$340,000 |
2260 |
89 |
| 1373 Bonniebrae Dr |
Attached |
$370,000 |
$375,000 |
1477 |
3 |
| 4386 Thunder Vista Ln |
Condo |
$399,900 |
$390,000 |
1980 |
41 |
| 111 Touchstone Terr |
Attached |
$420,000 |
$420,000 |
1341 |
16 |
| 76 Kingsgate |
Attached |
$434,900 |
$430,000 |
1527 |
73 |
| 19 Bloch Terr |
Attached |
$425,000 |
$430,000 |
1527 |
73 |
| 885 McVey Ave |
Detached |
$469,000 |
$450,000 |
1292 |
29 |
| 6397 McEwan Rd |
Detached |
$439,900 |
$453,000 |
1008 |
3 |
| 17635 Deemar Way |
Detached |
$549,000 |
$489,000 |
1488 |
201 |
| 121 Wilbur St |
Condo |
$537,500 |
$528,750 |
1631 |
117 |
| 1778 Fern Pl |
Detached |
$499,900 |
$529,500 |
1146 |
$11 |
| 13841 Verte Ct |
Detached |
$649,000 |
$560,000 |
2341 |
78 |
| 2388 Overlook Dr |
Detached |
$678,000 |
$657,000 |
2765 |
5 |
| 1069 Timberline Dr |
Detached |
$725,000 |
$725,000 |
2173 |
7 |
| 121 Condolea Dr |
Condo |
$799,000 |
$752,800 |
2143 |
1 |
| 64 Condolea Terr |
Condo |
$799,000 |
$799,000 |
2958 |
3 |
| 1010 Laurel St |
Detached |
$849,000 |
$800,000 |
2498 |
15 |
| 5608 Grand Oaks Dr |
Detached |
$879,000 |
$880,000 |
3129 |
2 |
| 205 5th St |
Detached |
$895,000 |
$895,000 |
2556 |
52 |
| 24 Del Prado St |
Detached |
$969,000 |
$959,000 |
3357 |
22 |
| 15371 Twin Fir Rd |
Detached |
$1,050,000 |
$1,012,500 |
2876 |
19 |
| 815 Oak ST |
Detached |
$1,035,000 |
$1,020,000 |
3836 |
6 |
| 18803 Rivendell Ct |
Detached |
$1,100,000 |
$1,050,000 |
4538 |
310 |
| 14260 Uplands Dr |
Detached |
$1,284,000 |
$1,267,000 |
2831 |
5 |
| 540 8th ST |
Detached |
$1,289,000 |
$1,279,000 |
2920 |
2 |
| 824 9th St |
Detached |
$1,375,000 |
$1,375,000 |
2800 |
0 |
| 163 Iron Mountain Blvd |
Detached |
$1,795,000 |
$1,500,000 |
4314 |
424 |
| 17475 Canal Circle |
Detached |
$1,650,000 |
$1,570,000 |
2290 |
0 |
| 4277 Upper DR |
Detached |
$1,595,000 |
$1,640,000 |
3851 |
141 |
| 18099 Green Bluff Dr |
Detached |
$1,695,000 |
$1,650,000 |
5343 |
43 |
| 16645 Graef Circle |
Detached |
$1,825,000 |
$1,825,000 |
3187 |
16 |
| 17537 Cardinal Dr |
Detached |
$1,995,000 |
$1,850,000 |
3187 |
16 |
| 1098 Chandler Rd |
Detached |
$1,995,000 |
$1,950,000 |
3934 |
12 |
| 16723 Maple Circle |
Detached |
$2,450,000 |
$2,150,000 |
2515 |
17 |
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.
 I always have a conversation with my clients before we begin their home-buying or -selling adventure regarding the basic markers, or hurdles we will clear as we move through the process. One of the most crucial is the Inspection Period.
After mutual acceptance, Buyer and Seller enter the Inspection Period. The Residential Sale Agreement specifies 10 business days unless the Buyer’s Agent shortens or lengthens that when writing, but 10 days is pretty typical. During this time Buyers may hire professionals to perform inspections on the home and will specify any “invasive inspections” which can include sewer scopes, mold, underground tank locates, and believe it or not, the collection of radon gasses to gauge safety of the air in the home.
I find this is one of the most misunderstood portions of the process, and/but it is pretty straightforward. I’m including an excerpt from the Residential Sale Agreement language below as, with most things, an actual reading of the language in the contract clears things up pretty quickly when clarity is needed.
Your time clock starts ticking on the first day following mutual acceptance. Sometimes when submitting an Offer as a Buyer, you might want to take into consideration that if your Offer is accepted on a weekend, your first business day will be a Monday, which will give you one weekend as part of your timeline. If your Offer is accepted on a Monday or a Tuesday, your timeline will include two weekends, which can be beneficial if you need time to get additional contractors out to look at various things that come up in the inspection, such as roof issues, electrical issues, foundation issues and the like. The timeline is very important to both the Seller and the Buyer as, in the state of Oregon, a Seller is selling a home “as-is”. This means that though there is a provision in the contract for inspection (and the contingency that a Buyer may decide to withdraw during the timeline based on dissatisfaction with the inspection(s), the Seller is not “obligated” to perform any repairs for the Buyer. Because of this, if a Buyer lets their allotted time lapse and you pass that 5PM deadline on the 10th business day without any written agreement on repairs, the home is then construed to be sold “as is”. Most Sellers and Buyers are reasonable during the allotted period and when issues of safety or impacted functionality of the home arise, accommodations of some sort are usually reached- not always to the extent a Buyer (or Seller) might like, but my experience is that there is usually goodwill and a real effort to deliver a home in good working order to the Buyer. Considerations that also come into play are Lender requirements, potential Appraiser concerns and the desire of both parties to Close the transaction and move on.
Here is the excerpt from the Sale Agreement that explains the basics:
177 LICENSED PROFESSIONAL INSPECTIONS: At Buyer’s expense, Buyer may have the Property and all elements and systems thereof
178 inspected by one or more licensed professionals of Buyer’s choice. Provided, however, Buyer must specifically identify in this Agreement any
179 desired invasive inspections that may include testing or removal of any portion of the Property including, for example, radon and mold. Identify
180 Invasive Inspections: .
181 Buyer understands Buyer is responsible for the restoration of the Property following any inspection(s)/test(s) performed by Buyer or on Buyer’s
182 behalf. Buyer shall have business days (ten [10] if not filled in), after the date Buyer and Seller have signed and accepted this Agreement
183 (hereinafter “the Inspection Period”), in which to complete all inspections and negotiations with Seller regarding any matters disclosed in any
184 inspection report. Buyer shall not provide all or any portion of the inspection reports to Seller unless requested by Seller. However, at any time
185 during this transaction, or promptly following termination, upon request by Seller, Buyer shall promptly provide a copy of such reports or portions of
186 reports, as requested. During the Inspection Period, Seller shall not be required to modify any terms of this Agreement already reached with Buyer.
187 Unless a written agreement has already been reached with Seller regarding Buyer’s requested repairs, at any time during the Inspection Period,
188 Buyer may notify Seller, in writing, of Buyer’s unconditional disapproval of the Property based on any inspection report(s), in which case, all earnest
189 money deposits shall be promptly refunded, and this transaction shall be terminated. If Buyer fails to provide Seller with written unconditional
190 disapproval of any inspection report(s) by 5:00 P.M. of the final day of the Inspection Period, Buyer shall be deemed to have accepted the
191 condition of the Property. Note if, prior to expiration of the Inspection Period, written agreement is reached with Seller regarding Buyer’s
192 requested repairs, the Inspection Period shall automatically terminate, unless the parties agree otherwise in writing.
Last week in Lake Oswego there were 25 New listings, 36 properties that went into Pending status, and 25 Closed sales. There are currently 217 Properties for sale in Lake Oswego!
Following is the breakdown for you according to RMLS:
New on the Market (July 20-26, 2020)
| Address |
List Price |
# Beds |
# Baths |
Total SF |
Prop Type |
| 44 EAGLE CREST DR #15 |
$170,000 |
1 |
1 |
798 |
CONDO |
| 368 CERVANTES CIR / Upper |
$200,000 |
2 |
1 |
854 |
CONDO |
| 750 1ST ST #D25 |
$325,000 |
2 |
2 |
1350 |
CONDO |
| 16200 PACIFIC HWY #21 |
$362,000 |
2 |
2 |
1190 |
CONDO |
| 4401 THUNDER VISTA LANE LN |
$395,000 |
2 |
2.1 |
1980 |
CONDO |
| 41 Greenridge CT |
$415,000 |
3 |
2.1 |
1652 |
ATTACHD |
| 78 GREENRIDGE CT |
$535,000 |
3 |
3 |
2000 |
ATTACHD |
| 1101 HEMLOCK ST |
$629,975 |
3 |
2.1 |
2213 |
DETACHD |
| 14863 TWIN FIR CT |
$630,000 |
3 |
2 |
1648 |
DETACHD |
| 4636 AUBURN LN |
$650,000 |
3 |
3.1 |
2732 |
ATTACHD |
| 14825 RAINBOW DR |
$650,000 |
4 |
3.1 |
2582 |
DETACHD |
| 17973 SAINT CLAIR DR |
$738,000 |
4 |
3 |
3323 |
DETACHD |
| 12788 SIERRA VISTA DR |
$770,000 |
4 |
3.1 |
2880 |
DETACHD |
| 15 BECKET ST |
$849,000 |
4 |
3.1 |
3750 |
DETACHD |
| 2340 OAKHURST LN |
$869,000 |
4 |
2.1 |
2860 |
DETACHD |
| 2585 DELLWOOD DR |
$949,900 |
4 |
3.1 |
3749 |
DETACHD |
| 5156 SW DAWN ST |
$1,150,000 |
3 |
3 |
2413 |
DETACHD |
| 17196 KELOK RD |
$1,199,000 |
5 |
3.1 |
4384 |
DETACHD |
| 717 8TH ST |
$1,235,000 |
4 |
2.1 |
2584 |
DETACHD |
| 4311 HAVEN ST |
$1,365,000 |
4 |
4 |
3915 |
DETACHD |
| 929 COUNTRY CMNS |
$1,420,000 |
4 |
3 |
3962 |
DETACHD |
| 768 BERWICK CT |
$2,098,000 |
4 |
3.1 |
4127 |
DETACHD |
| 2950 WEMBLEY PARK RD |
$2,375,000 |
4 |
5.1 |
6417 |
DETACHD |
| 1622 LESLIE LN |
$2,450,000 |
4 |
3.2 |
5827 |
DETACHD |
| 305 CHANDLER PL |
$2,850,000 |
5 |
3.3 |
5334 |
DETACHD |
Pending Sales (July 20-26, 2020)
| Address |
List Price |
# Beds |
# Baths |
Total SF |
Prop Type |
CDOM |
| 3930 LAKE GROVE AVE #3A |
$209,900 |
2 |
1 |
956 |
CONDO |
183 |
| 4 TOUCHSTONE #81 |
$224,950 |
3 |
2.1 |
1350 |
CONDO |
29 |
| 4000 CARMAN DR #C39 |
$229,000 |
2 |
2 |
866 |
CONDO |
14 |
| 90 OSWEGO SMT / Upper |
$239,000 |
2 |
2 |
1140 |
CONDO |
2 |
| 48 EAGLE CREST DR #5E |
$269,000 |
2 |
2 |
1443 |
CONDO |
10 |
| 4621 LAKEVIEW BLVD / Upper |
$279,999 |
2 |
2 |
1178 |
CONDO |
8 |
| 4372 WOODSIDE CIR |
$339,900 |
2 |
2 |
1178 |
ATTACHD |
4 |
| 13 MOUNTAIN CIR |
$375,000 |
2 |
1.1 |
1374 |
ATTACHD |
4 |
| 5168 LAKEVIEW BLVD |
$395,000 |
2 |
2 |
960 |
DETACHD |
4 |
| 16215 LAKE FOREST BLVD |
$425,000 |
3 |
1 |
1001 |
DETACHD |
5 |
| 16518 INVERURIE RD |
$425,000 |
3 |
2 |
1255 |
DETACHD |
3 |
| 21 BRITTEN CT |
$429,000 |
3 |
2.1 |
1972 |
ATTACHD |
4 |
| 18545 KRISTI WAY |
$434,900 |
3 |
1.1 |
1307 |
DETACHD |
4 |
| 7 SUMMIT RIDGE CT |
$449,000 |
2 |
2.1 |
1704 |
ATTACHD |
14 |
| 17207 REBECCA LN |
$599,000 |
3 |
2.1 |
1944 |
DETACHD |
6 |
| 1601 ASH ST |
$614,947 |
3 |
2 |
2045 |
DETACHD |
57 |
| 13758 REGENCY CT |
$649,900 |
3 |
2.1 |
1986 |
DETACHD |
2 |
| 720 BRIERCLIFF LN |
$650,000 |
4 |
3 |
2152 |
DETACHD |
3 |
| 4087 TROUT WAY |
$659,000 |
4 |
2.1 |
2330 |
DETACHD |
4 |
| 14074 SUNDELEAF DR |
$685,000 |
3 |
2.1 |
1760 |
DETACHD |
5 |
| 4890 INDIAN CREEK CT |
$699,000 |
3 |
2 |
2064 |
DETACHD |
15 |
| 18709 MIRKWOOD DR |
$729,000 |
4 |
3 |
3086 |
DETACHD |
3 |
| 4004 MELISSA DR |
$749,900 |
4 |
2.1 |
2865 |
DETACHD |
3 |
| 5820 STEWART GLENN CT |
$750,000 |
5 |
2.1 |
3262 |
DETACHD |
72 |
| 5734 CHARLES CIR |
$785,000 |
5 |
2.1 |
2663 |
DETACHD |
2 |
| 802 CLARA CT |
$849,000 |
4 |
3 |
2886 |
DETACHD |
7 |
| 12641 ADRIAN CT |
$896,448 |
4 |
4 |
3602 |
DETACHD |
9 |
| 19242 INDIAN SPRINGS RD |
$950,000 |
4 |
2.1 |
3365 |
DETACHD |
54 |
| 2655 DELLWOOD DR |
$950,000 |
4 |
2.1 |
3164 |
DETACHD |
28 |
| 19345 RIVERWOOD LN |
$969,000 |
4 |
3.1 |
3383 |
DETACHD |
7 |
| 1029 LAUREL ST |
$974,000 |
5 |
3.1 |
3195 |
DETACHD |
7 |
| 14380 TRILLIUM CT |
$995,000 |
5 |
3 |
3962 |
DETACHD |
128 |
| 18220 RIVER EDGE CT |
$998,800 |
4 |
3 |
3432 |
DETACHD |
60 |
| 1300 GLENMORRIE DR |
$1,050,000 |
5 |
3.1 |
4613 |
DETACHD |
3 |
| 3244 UPPER DR |
$1,575,000 |
5 |
4.1 |
3730 |
DETACHD |
11 |
| 16206 REESE RD |
$1,625,000 |
4 |
3.1 |
3631 |
DETACHD |
69 |
Sold/Closed (July 20-26, 2020)
| Address |
Opening Price |
Closed Price |
# Beds |
# Baths |
Total SF |
Prop Type |
CDOM |
| 4 TOUCHSTONE #71 |
$199,000 |
$180,000 |
2 |
2 |
984 |
CONDO |
49 |
| 82 OSWEGO SMT / Upper |
$239,000 |
$234,500 |
2 |
2 |
1212 |
CONDO |
14 |
| 48 EAGLE CREST DR #5C |
$279,000 |
$264,800 |
2 |
2 |
1443 |
CONDO |
201 |
| 3868 BOTTICELLI ST / Grnd |
$265,000 |
$265,000 |
3 |
2 |
1260 |
CONDO |
12 |
| 12806 SW BOONES FERRY RD |
$425,000 |
$400,000 |
3 |
2.1 |
1174 |
CONDO |
26 |
| 2164 GOODALL CT |
$300,000 |
$443,765 |
3 |
2 |
2016 |
DETACHD |
17 |
| 1400 LABURNUM WAY |
$475,000 |
$508,000 |
4 |
3 |
2106 |
DETACHD |
2 |
| 6151 CARMAN DR |
$589,750 |
$545,000 |
3 |
2 |
1641 |
DETACHD |
81 |
| 16111 LINDSAY CT |
$565,000 |
$565,000 |
3 |
2.1 |
1840 |
DETACHD |
34 |
| 4851 MADRONA ST |
$600,000 |
$580,085 |
4 |
2 |
1500 |
DETACHD |
22 |
| 19211 INDIAN SPRINGS RD |
$585,000 |
$585,000 |
4 |
3 |
2132 |
DETACHD |
1 |
| 6280 SUMMER WOODS |
$640,000 |
$600,000 |
4 |
2.1 |
2191 |
DETACHD |
112 |
| 461 COUNTRY CLUB RD |
$750,000 |
$730,000 |
2 |
1.1 |
1500 |
DETACHD |
57 |
| 9 BECKET ST |
$719,000 |
$740,000 |
4 |
2.1 |
3537 |
DETACHD |
4 |
| 4089 MELISSA DR |
$815,000 |
$777,500 |
4 |
2.1 |
2762 |
DETACHD |
22 |
| 15119 QUARRY RD |
$795,000 |
$795,000 |
3 |
2 |
2086 |
DETACHD |
16 |
| 830 4TH ST |
$799,900 |
$822,000 |
3 |
2 |
1890 |
DETACHD |
0 |
| 2201 OVERLOOK DR |
$825,000 |
$855,000 |
4 |
2.1 |
3360 |
DETACHD |
3 |
| 13751 CAMEO CT |
$1,100,000 |
$865,000 |
5 |
4 |
3350 |
DETACHD |
97 |
| 16 BERNINI CT |
$1,250,000 |
$1,095,000 |
6 |
5 |
4786 |
DETACHD |
92 |
| 18026 SKYLAND CIR |
$1,399,000 |
$1,330,000 |
5 |
3.1 |
4117 |
DETACHD |
102 |
| 157 6TH ST |
$1,595,000 |
$1,464,000 |
4 |
3.1 |
3614 |
DETACHD |
953 |
| 2880 UPPER DR |
$1,995,000 |
$1,920,000 |
5 |
4.1 |
5853 |
DETACHD |
141 |
| 17227 CANAL CIR |
$2,795,000 |
$2,600,000 |
5 |
4.1 |
4720 |
DETACHD |
79 |
| 1633 LESLIE LN |
$2,725,000 |
$2,650,000 |
5 |
4.2 |
5921 |
DETACHD |
15 |
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.
 I want to take a moment to explain not only what escrow is, but also to give a shout out to the amazing title companies that we have in the Portland area.
Escrow is the time that happens between an offer being accepted and the title being recorded for the new owner of the property. The Realtors involved submit a copy of the agreed upon paperwork to the title company that has been chosen. The buyer or the seller can select the title company, if they have a preference. By practice though, I’d say 90% of the time the seller’s agent will choose the title company. This is because prior to and during the course of the listing being marketed, it’s pretty common for the listing side Realtor to ask for information and favors from a title company. This can be things like obtaining a plat map, getting a copy of the deed, all sorts of favors. The title company will do these services at no charge. They do them, because they are hoping to be selected to handle a transaction. Just like Realtors, they don’t get paid until the transaction closes.
Upon receiving the new sale agreement, the “escrow officer”, which is what the person at the title company is usually called, will order a preliminary title report. It takes about a week to receive it and it is sent out to all parties involved: the buyer and their Realtor, the seller and their Realtor, and the lender if there is a lender involved. The title report shows what legal liens and encumbrances, such as easements, Home Owner Association documents, and mortgages are attached to the property. Once received, the buyer needs to review the prelim and they have 2 days to notify the seller if there is an issue that needs to be cleared up. The seller then has 5 days to fix the issue. If the seller can’t fix it, then the buyer can terminate and get their earnest money back. The sort of issue that might create this situation would be something like a judgement for alimony that must be proven to be current. That sort of thing.
Escrow lasts 30 to 45 days, typically. During this time the escrow officer will collect the needed information to close on the sale. They are the people who receive the lenders wire of funds from the new mortgage, and who contact the buyer to let them know how much money to bring to closing. They make appointments with the buyer and the seller and are in charge of everyone signing all of the documents correctly. They use the money that they have received to pay off any current liens and then they are the ones who take the new deed to the county and have it recorded, along with the new mortgage. Today this is done electronically.
On the day of closing they do the final title report to confirm that no knew encumbrances have been recorded on the property. With this in hand they issue a title insurance policy. This insurances benefits the buyer and is the title companies evidence that all of the seller encumbrances have been removed and the buyer is receiving the property with clear title and only the encumbrances that they place upon it, such as their new mortgage.
To a person, every single escrow officer I have ever met or worked with has been the utmost professional, competent and friendly person. In addition, the title companies perform these services for a very reasonable charge. Combining title and escrow charges, the average transaction earns the title company, perhaps, $3500. The charge for the title insurance is regulated by the state of Oregon. Escrow charges are pretty uniform between companies. The charges are split approximately 60/40, with the seller paying the larger amount because seller paid title insurance to benefit the buyer is more expensive than buyer paid title insurance to benefit the buyer’s lender.
If you ask any Realtor who their favorite title company is, every single one of them will have an immediate answer. For me, it’s Roni Winters at Fidelity National Title in Lake Oswego. But I would trust any of the companies and escrow officers in the metro area. They are all that good.
Stay cool in this heat, and as always, thank you for reading the blotter.
Dianne
The Lake Oswego real estate market is on fire! It feels like we are having our spring market in July. I’m sure it’s because in the spring the pandemic had just hit us and we all felt a sense of decision paralysis. But as time has gone by, and we’ve all adapted to the new normal, our confidence has come back. The Lake Oswego market truly is booming. Last week we had 26 properties come onto the market, 28 go into pending status, and 20 sold/closed purhases.
Following is the breakdown for you according to RMLS:
New on the Market (July 13-19, 2020)
| Address |
Type |
Price |
BR |
Baths |
Sq Ft |
| 48 Eagle Crest Dr 5E |
Condo |
$269,000 |
2 |
2 |
1443 |
| 4621 Lakeview Blvd |
Condo |
$279,999 |
2 |
2 |
1178 |
| 5061 Foothills Dr G |
Condo |
$395,000 |
2 |
2 |
991 |
| 6 Wheatherstone #3 |
Condo |
$404,000 |
3 |
2.5 |
1692 |
| 151 Kingsgate Rd |
Detached |
$499,999 |
3 |
2 |
1585 |
| 17207 Rebecca Ln |
Detached |
$599,000 |
3 |
2.5 |
1944 |
| 38 Northview Ct |
Attached |
$638,900 |
4 |
4 |
3125 |
| 1868 Glenmorrie Dr |
Detached |
$769,000 |
4 |
4 |
3158 |
| 4108 Orchard Way |
Detached |
$769,000 |
4 |
2.5 |
2981 |
| 5124 Rosewood St |
Detached |
$799,900 |
5 |
3.5 |
3516 |
| 802 Clara Ct |
Detached |
$849,000 |
4 |
3 |
2886 |
| 18283 Lothlorien Way |
Detached |
$889,000 |
4 |
3 |
3053 |
| 12641 Adrian Ct |
Detached |
$896,448 |
4 |
4 |
3602 |
| 19345 Riverwood Ln |
Detached |
$969,000 |
4 |
3.5 |
3383 |
| 1029 Laurel St |
Detached |
$974,000 |
5 |
3.5 |
3195 |
| 18400 Delenka Ln |
Detached |
$998,800 |
5 |
3.5 |
5245 |
| 100 Leonard St 4-2 |
Condo |
$1,079,000 |
3 |
2.5 |
3137 |
| 428 C Ave |
Attached |
$1,149,888 |
3 |
3 |
2607 |
| 6040 Lakeview Blvd |
Detached |
$1,200,000 |
5 |
3 |
3701 |
| 3122 Goodall Rd |
Detached |
$1,345,000 |
5 |
3.5 |
3735 |
| 17684 Stafford Lot 3 |
Detached |
$1,499,950 |
6 |
4.5 |
4407 |
| 17787 Cardinal Dr |
Detached |
$2,199,000 |
4 |
4 |
3270 |
| 16655 Maple Circle |
Detached |
$3,498,000 |
3 |
3 |
3100 |
| 4321 Southshore Blvd |
Detached |
$3,950,000 |
5 |
4.5 |
6731 |
| 1500 Northshore Rd |
Detached |
$11,888,000 |
5 |
6.5+.5+.5 |
13462 |
| 3122 Glenmorrie Dr |
Detached |
$1,299,000 |
4 |
3.5 |
3724 |
Pending Sales (July 13-19, 2020)
| Address |
Type |
Price |
BR |
Baths |
Sq Ft |
CDOM |
| 44 Eagle Crest Dr #9 |
Condo |
$194,900 |
2 |
1 |
908 |
4 |
| 668 McVey Ave #14 |
Condo |
$239,900 |
1 |
1 |
636 |
9 |
| 2164 Goodall Ct |
Detached |
$300,000 |
3 |
2 |
2016 |
17 |
| 16500 Lake Forest Blvd |
Detached |
$439,900 |
3 |
1 |
960 |
1 |
| 1400 Parrish St |
Condo |
$450,000 |
3 |
2.5 |
1863 |
130 |
| 5711 McEwan Rd |
Detached |
$529,950 |
3 |
2 |
1467 |
6 |
| 4910 Centerwood St |
Detached |
$650,000 |
4 |
2.5 |
2481 |
0 |
| 4746 Amherst Ct |
Attached |
$675,000 |
3 |
2.5 |
2985 |
55 |
| 205 Hidalgo St |
Detached |
$679,900 |
4 |
3.5 |
3032 |
4 |
| 17430 Schalit Way |
Detached |
$689,900 |
4 |
2.5 |
2379 |
1 |
| 3778 Rivers Edge Dr |
Detached |
$799,000 |
4 |
3.5 |
3012 |
53 |
| 121 Condolea Dr |
Condo |
$799,000 |
3 |
3 |
2143 |
1 |
| 19398 River Run Dr |
Detached |
$799,900 |
4 |
3 |
2790 |
24 |
| 5267 Lakeview Blvd |
Detached |
$895,000 |
4 |
3.5 |
3454 |
118 |
| 1425 Morning Sky Ct |
Detached |
$895,000 |
4 |
3 |
3282 |
2 |
| 1766 Palisades Terrace Dr |
Detached |
$914,000 |
4 |
2.5 |
2805 |
67 |
| 18707 Bryant Rd |
Detached |
$995,000 |
3 |
2 |
2184 |
0 |
| 1061 Chandler Rd |
Detached |
$999,000 |
4 |
3 |
2879 |
139 |
| 15371 Twin Fir Rd |
Detached |
$1,050,000 |
4 |
2.5 |
2876 |
19 |
| 17690 Blue Heron Rd |
Detached |
$1,199,900 |
4 |
3 |
3869 |
21 |
| 1301 Horseshoe Curve |
Detached |
$1,299,000 |
3 |
2 |
2260 |
3 |
| 13344 Briarwood Ln |
Detached |
$1,359,000 |
4 |
3 |
3413 |
394 |
| 4150 Upper Dr |
Detached |
$1,395,000 |
4 |
3.5 |
3466 |
14 |
| 792 5th St |
Detached |
$1,480,000 |
4 |
4.5 |
4379 |
69 |
| 1103 C Ave |
Detached |
$1,585,000 |
4 |
3.5 |
3530 |
110 |
| 1225 Oak Terrace |
Detached |
$1,600,000 |
5 |
4 |
3771 |
11 |
| 310 Iron Mountain Blvd |
Detached |
$2,150,000 |
5 |
3.5 |
4927 |
14 |
| 16793 Graef Circle |
Detached |
$2,150,000 |
4 |
3.5 |
69 |
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Sold/Closed (July 13-19, 2020)
| Address |
Type |
List Price |
Sold Price |
Sq Ft |
CDOM |
| 100 Kerr Pkwy #2 |
Condo |
$170,000 |
$165,000 |
822 |
9 |
| 44 Eagle Crest Dr #441 |
Condo |
$228,900 |
$224,900 |
908 |
30 |
| 65 Church St |
Condo |
$299,950 |
$248,792 |
1040 |
38 |
| 715 Hemlock St |
Detached |
$357,000 |
$357,000 |
1312 |
8 |
| 4292 Galewood St |
Detached |
$549,900 |
$561,000 |
1644 |
3 |
| 2745 Greentree Rd |
Detached |
$598,500 |
$600,000 |
3548 |
245 |
| 19200 Redwing Ct |
Detached |
$599,900 |
$620,000 |
2128 |
2 |
| 1110 Hallinan Circle |
Detached |
$699,000 |
$660,000 |
3548 |
245 |
| 1268 Spruce St |
Detached |
$665,000 |
$680,000 |
2220 |
3 |
| 14183 Taylors Crest Ln |
Detached |
$796,000 |
$748,750 |
3551 |
45 |
| 5950 Harrington Ave |
Detached |
$795,000 |
$790,000 |
1927 |
78 |
| 125 Furnace St #125 |
Condo |
$799,000 |
$790,000 |
1927 |
78 |
| 5382 Royal Oaks Dr |
Detached |
$796,000 |
$819,000 |
2970 |
7 |
| 4680 Upper Dr |
Detached |
$825,000 |
$825,000 |
1656 |
3 |
| 17065 Tualatin St |
Detached |
$869,900 |
$830,000 |
2808 |
89 |
| 285 Berwick Rd |
Detached |
$1,250,000 |
$900,000 |
2518 |
111 |
| 2795 Rivendell Rd |
Detached |
$915,000 |
$930,000 |
3518 |
3 |
| 815 E Ave |
Detached |
$1,379,000 |
$1,379,000 |
2796 |
3 |
| 2260 Summit Ct |
Detached |
$2,158,000 |
$1,700,000 |
3797 |
436 |
| 1415 Skyland Dr |
Detached |
$4,250,000 |
$3,995,000 |
6085 |
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.
 Here is your look at the most recent data for the entire Portland area (June 2020) and how Lake Oswego fits in to this picture just below.
Inventory has dropped in June. They all got snatched up in May! ; ) Seriously, look at the 38% rise in June Closed sales over May. We are seeing a housing shortage in the overall Portland area and it is reflected in Buyers experiencing lots of multiple-offer situations and overall competition over properties that are in good shape and priced well. Sellers are noticing this trend and continuing to list properties for sale. I’m anticipating an extended busy period this summer after some pent-up COVID-inspired “waiting” from earlier in the spring that is spilling into the post-4th of July time period which is usually a bit slower.
My trusted Mortgage Advisors tell me: Rates are at historic lows hovering around 3% and lower in some circumstances.
According to the RMLS Market Action Report for the Portland Metro Area, June 2020:
- There were 3,658 New Listings in June 2020 which decreased 14.6% from June of 2019’s 4,281, and/but increased 7% over the previous month/May’s 3,419.
- At 2,709, June 2020’s Closed Sales are down slightly at 1.7% from June 2019’s 2,756, and are up a whopping 38% from the previous month/May 2020’s total of 1,963
- At 3,654, June 2020’s Pending Sales are up 18.5% from June 2019’s 3,083, and also up 17.4% from the previous month/May 2020’s total of 3,112.
- The Average Sale Price in June 2020 of $479,700 is up $7,000 from last year/June 2019’s $472,700, and is also up $12,200 from the previous month/May 2020’s $467,500. YTD increase is 2.6%.
- The “Median” Sale Price (the price smack dab in the middle of all sales) in June 2020 of $435,000 rose from last year/June 2019’s $420,000 by $15,000, and is up by $10,000 from the previous month/May 2020’s $425,000. YTD increase is 3.9%.
Neighborhoods: June’s Average Sale Price + 12-month Appreciation:
- North Portland: $447,500 3.0% (May $442,900 )
- NE Portland: $486,200 3.0% (May $479,900)
- SE Portland: $462,800 2.1% (May $448,300 )
- Gresham/Troutdale: $383,000 1.8% (May $358,800)
- Milwaukie/Clackamas: $479,600 3.7% (May $435,200)
- Oregon City/Canby: $447,300 2.9% (May $454,500)
- Lake Oswego/West Linn:$721,800 3.9% (May $698,500)
- West Portland: $609,400 -0.9% (May $616,200)
- NW Wash County: $585,000 2.2% (May $520,400)
- Beaverton/Aloha: $417,500 3.2% (May $407,800)
- Tigard/Wilsonville: $504,400 3.7% (May $502,400)
- Hillsboro/Forest Grove: $433,100 5.7% (May $422,100)
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of June 2020 reported:
-
- 315 Active Listings (May 324)
- 216 New Listings (May 209)
- 196 Pending Sales (May 169)
- 135 Closed Sales (May 92)
- Average Sale Price for May: $721,800 (May $698,500)
- 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.
- 54 Average Days on the Market (May 59)
Last week in Lake Oswego there were 19 New listings, 26 properties that went into Pending status, and 20 Closed sales. There are currently 233 Properties for sale in Lake Oswego!
Following is the breakdown for you according to RMLS:
New on the Market (July 6-12, 2020)
| Address |
List Price |
# Beds |
# Baths |
Prop Type |
Total SF |
| 4000 CARMAN DR, C39 |
$229,000 |
2 |
2 |
CONDO |
866 |
| 207 OSWEGO SMT #207 |
$289,000 |
2 |
1.1 |
CONDO |
1506 |
| 12844 BOONES FERRY RD / Grnd |
$409,900 |
2 |
2.1 |
CONDO |
1177 |
| 7 SUMMIT RIDGE CT |
$449,000 |
2 |
2.1 |
ATTACHD |
1704 |
| 200 BURNHAM RD #311 |
$599,000 |
3 |
2 |
CONDO |
1894 |
| 4890 INDIAN CREEK CT |
$699,000 |
3 |
2 |
DETACHD |
2064 |
| 16969 ALDER CIR |
$729,000 |
3 |
2 |
DETACHD |
1676 |
| 3102 DUNCAN DR |
$785,000 |
4 |
3.1 |
DETACHD |
3910 |
| 15677 FIELDSTONE DR |
$798,950 |
3 |
2.1 |
DETACHD |
2527 |
| 2782 TOLKIEN LN |
$799,000 |
4 |
3.1 |
DETACHD |
3207 |
| 12986 KNAUS RD |
$1,249,000 |
5 |
4 |
DETACHD |
3242 |
| 2126 WEMBLEY PL |
$1,425,000 |
4 |
3.1 |
DETACHD |
3531 |
| 14190 SUNDELEAF DR |
$1,459,900 |
5 |
4 |
DETACHD |
3688 |
| 12812 ALTO PARK RD |
$1,500,000 |
4 |
3.1 |
DETACHD |
4040 |
| 3244 UPPER DR |
$1,575,000 |
5 |
4.1 |
DETACHD |
3730 |
| 1225 OAK TER |
$1,600,000 |
5 |
4 |
DETACHD |
3771 |
| 883 8th ST |
$1,699,000 |
5 |
4.1 |
DETACHD |
4546 |
| 16865 GREENBRIER RD |
$2,595,000 |
5 |
5 |
DETACHD |
6404 |
| 16649 MAPLE CIR |
$3,095,000 |
4 |
3 |
DETACHD |
2714 |
Pending Sales (July 6-12, 2020)
| Address |
List Price |
# Beds |
# Baths |
Total SF |
Prop Type |
CDOM |
| 104 OSWEGO SMT / Grnd |
$195,000 |
1 |
1 |
943 |
CONDO |
12 |
| 59 OSWEGO SMT / Upper |
$237,900 |
2 |
2 |
1140 |
CONDO |
59 |
| 4626 LOWER DR / Main |
$239,000 |
2 |
1.1 |
1260 |
CONDO |
57 |
| 82 OSWEGO SMT / Upper |
$239,000 |
2 |
2 |
1212 |
CONDO |
14 |
| 4000 CARMAN DR #31 |
$245,000 |
3 |
2 |
993 |
CONDO |
184 |
| 6301 ALYSSA TER |
$400,000 |
3 |
2.1 |
1546 |
ATTACHD |
4 |
| 5881 FERNBROOK CIR |
$419,000 |
4 |
1 |
1416 |
DETACHD |
2 |
| 76 KINGSGATE RD |
$434,900 |
2 |
2 |
1201 |
ATTACHD |
6 |
| 121 WILBUR ST |
$537,500 |
3 |
2 |
1631 |
CONDO |
117 |
| 6221 NOKOMIS CT |
$565,000 |
3 |
2 |
1870 |
DETACHD |
1 |
| 19101 REDWING CT |
$629,000 |
3 |
2 |
1434 |
DETACHD |
5 |
| 4260 CHAPMAN WAY |
$630,000 |
4 |
3 |
2301 |
DETACHD |
16 |
| 4962 HARVARD CT |
$649,900 |
4 |
2.1 |
2522 |
DETACHD |
24 |
| 28 WESTRIDGE DR |
$724,900 |
4 |
2.1 |
2580 |
DETACHD |
4 |
| 1069 TIMBERLINE DR |
$725,000 |
4 |
3 |
2173 |
DETACHD |
7 |
| 5 WESTMINSTER DR |
$729,900 |
5 |
3 |
3104 |
DETACHD |
97 |
| 14321 CAMDEN LN |
$759,900 |
4 |
2.1 |
2553 |
DETACHD |
3 |
| 17610 WESTVIEW DR |
$839,900 |
5 |
3 |
2924 |
DETACHD |
2 |
| 4991 HARTFORD PL |
$859,950 |
3 |
3.1 |
3098 |
DETACHD |
5 |
| 24 DEL PRADO ST |
$969,000 |
5 |
3.1 |
3357 |
DETACHD |
22 |
| 5996 SUNCREEK DR |
$995,000 |
4 |
3 |
3596 |
DETACHD |
2 |
| 3938 EDENS EDGE DR |
$1,199,990 |
4 |
3.1 |
3882 |
DETACHD |
18 |
| 749 SOUTHVIEW RD |
$1,325,000 |
4 |
3.1 |
3123 |
DETACHD |
36 |
| 2130 WEMBLEY PL |
$1,395,000 |
4 |
3.1 |
3651 |
DETACHD |
442 |
| 18218 MEADOWLARK LN |
$1,499,000 |
5 |
6.1 |
8320 |
DETACHD |
397 |
| 4660 UPPER DR |
$1,695,000 |
5 |
3.1 |
3898 |
DETACHD |
209 |
Sold/Closed (July 6-12, 2020)
| Address |
Opening Price |
Closed Price |
# Beds |
# Baths |
Total SF |
Prop Type |
CDOM |
| 9 OSWEGO SMT |
$180,000 |
$165,000 |
1 |
1 |
764 |
CONDO |
181 |
| 209 OSWEGO SMT / Upper |
$250,000 |
$250,000 |
2 |
2 |
1383 |
CONDO |
2 |
| 120 KINGSGATE RD |
$519,800 |
$512,000 |
3 |
2.1 |
1699 |
DETACHD |
15 |
| 1032 LAUREL ST |
$609,900 |
$595,000 |
4 |
2 |
2426 |
DETACHD |
109 |
| 6438 Frost ST |
$625,000 |
$610,000 |
4 |
2.1 |
2269 |
DETACHD |
39 |
| 17410 WREN CT |
$749,900 |
$750,000 |
3 |
2.1 |
2550 |
DETACHD |
4 |
| 173 FURNACE ST / Upper |
$819,900 |
$775,000 |
2 |
2.1 |
2090 |
CONDO |
18 |
| 1338 TIMBERLINE DR |
$874,900 |
$810,000 |
3 |
3 |
3754 |
DETACHD |
6 |
| 19681 PERCH CT |
$923,000 |
$820,000 |
4 |
3 |
3307 |
DETACHD |
82 |
| 4360 UPPER DR |
$915,000 |
$895,000 |
3 |
2.1 |
2613 |
DETACHD |
13 |
| 18483 RAY RIDGE DR |
$925,000 |
$900,000 |
3 |
2.1 |
3245 |
DETACHD |
9 |
| 2575 PALISADES CREST DR |
$1,250,000 |
$975,000 |
4 |
4.1 |
5251 |
DETACHD |
82 |
| 1267 MAPLE ST |
$1,098,000 |
$1,050,000 |
4 |
2.1 |
3388 |
DETACHD |
56 |
| 1225 LAKE GARDEN CT |
$1,295,000 |
$1,162,500 |
4 |
3.2 |
3558 |
DETACHD |
38 |
| 749 7TH ST |
$1,385,000 |
$1,350,000 |
4 |
3.1 |
4651 |
DETACHD |
28 |
| 839 F AVE |
$1,450,000 |
$1,358,725 |
4 |
3.1 |
3780 |
DETACHD |
109 |
| 475 IRON MOUNTAIN BLVD |
$1,379,000 |
$1,390,000 |
4 |
2.2 |
3254 |
DETACHD |
2 |
| 3040 STONEBRIDGE WAY |
$1,590,000 |
$1,450,000 |
4 |
4.1 |
5829 |
DETACHD |
100 |
| 17435 WREN CT |
$1,750,000 |
$1,668,000 |
4 |
3 |
2960 |
DETACHD |
443 |
| 4245 WEST BAY RD |
$2,350,000 |
$2,250,000 |
4 |
3.1 |
2958 |
DETACHD |
8 |
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.
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