Market Activity October 19-25, 2020

We had a burst of new listings in Lake Oswego last week with 23 properties coming onto the market. That’s about 30% more than recent previous weeks. We also had 20 properties that accepted offers and went into pending status. 20 properties became closed sales. Those numbers are very balanced. I’d call the market stable from every angle.

See below for an explanation of the RMLS data.

New listings October 19-25, 2020

AddressTypePriceBRBathsSq Ft
4000 Carman Dr #79Condo$270,00022993
16377 Kimball StDetached$389,000311200
206 Greenridge DrAttached$475,000321392
16246 Parker RdDetached$479,900321280
98 Kingsgate RdDetached$510,00032.51727
15500 Boones WayDetached$535,000321309
1705 Conifer DrDetached$539,00031.51850
127 Greenwood RdDetached$550,000311201
4362 Galewood StDetached$558,00032.51684
621 9th StDetached$649,000222214
17061 Crestview DrDetached$649,900422216
1202 Spruce StDetached$735,00022.51706
1604 Country Club RdDetached$800,00043.53878
5185 Woodcrest LnDetached$835,00032.52554
1216 Spruce StDetached$840,00032.52066
6 Yorick StDetached$849,950533116
17649 Woodhurst PlDetached$1,000,00064.55669
6441 Mission CtDetached$1,165,000433201
6155 McEwan RdDetached$1,250,000533728
312 9th StDetached$1,350,00032.52686
16234 Waluga DrDetached$1,395,00053.53130
45 Nanson SummitDetached$1,430,00044.55874
1132 Troon RdDetached$2,450,00043.54165

Pending sales October 19-25, 2020

AddressTypePriceBRBathsSq FtCDOM
4615 Lakeview BlvdCondo$242,5001175337
668 McVey Ave #65Condo$315,0001163638
5059 Foothills Dr ECondo$325,0002299127
5626 Fernbrook WayDetached$489,00031.5125059
5136 Jean RdDetached$495,00032141221
13679 Johnson TerraceDetached$515,000219176
4102 Buck Brush LnDetached$697,0004322053
4045 Melissa DrDetached$699,90042.5252940
17897 Sundown CtDetached$699,90053375599
312 4th StAttached$720,00022.5173122
12436 Orchard Hill RdDetached$725,00042.528918
7 Falstaff StDetached$729,00052.524841
5124 Rosewood StDetached$739,90043.5351639
634 Carrera LnDetached$750,00042.532824
13947 Majestic CtDetached$799,90043.528223
13453 Streamside DrDetached$839,00032.529325
14360 Trillium CtDetached$860,000533558122
6463 Mission CtDetached$1,165,00033.53547290
3131 Wembly Park RdDetached$1,344,50043.53597147
289 G AveDetached$1,499,00063.54193160

Sold/closed Sales October 19-25, 2020

AddressTypeList PriceSold PriceSq FtCDOM
126 Oswego SummitCondo$195,000$190,00076430
4000 Carmen Dr A-16Condo$264,900$257,0001,02548
4642 Lower DrCondo$275,000$260,000126033
213 Oswego SummitCondo$312,700$312,70013834
6073 Harrington AveDetached$429,900$414,000105034
16878 Canyon DrDetached$599,500$599,500229836
5885 Dove CtDetached$599,900$610,00017957
18706 Bryant RdDetached$655,000$630,000248999
2 Mozarteum CtDetached$705,000$715,00021924
5335 Westfield CtDetached$899,900$826,000312225
2146 Summit DrDetached$850,000$830,00025923
18857 Indian Springs CircleDetached$839,900$842,90025729
17931 Meadowlark LnDetached$899,900$889,900438514
3200 Upper DrDetached$900,000$900,00025424
19457 35th CtDetached$959,000$915,000353840
3343 Fir Ridge RdDetached$1,100,000$975,000343023
717 8th StDetached$1,235,000$1,133,800258454
3080 Westview CircleDetached$1,299,000$1,273,000347338
17522 Bryant RdDetached$1,399,000$1,325,000354539
13744 Knaus RdDetached$1,450,000$1,450,00036678

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.

Values on the Lake

As a Realtor in Lake Oswego, one of the most common questions I hear is “How much does it cost to buy a house on the Lake?” Now that the lake is full, and the sun is coming out, it seems like a good time to do a little analysis and answer this question.

There are 3 distinct types of water front property: canals, bays, and the main lake. The values are specific for these 3 areas. The canals have more shallow water and houses that face one another from one side of the canal to the other. These properties typically have the lowest values. There are 2 bays, one at each end of the lake, and these bays are shallow, but wide enough for water skiing. The main lake is by far the most valuable. Spectacular is the word that comes to mind. If you can afford it, this is the most beautiful setting.

There are currently 3 houses for sale on canals. The least expensive is $649,000 and the most expensive is $949,000.

There are 4 canal properties that are pending sales. The least expensive is listed for $749,000 and the most expensive is listed for $1,499,000.

In the last 12 months, 4 canal properties have sold and closed. The least expensive was sold for $510,000 and the most expensive was sold for $845,000.


There are 5 houses for sale on either of the two bays. The least expensive is listed for $599,000 and the most expensive is listed for $2,300,000.

One house on a bay is a pending sale that was listed for $950,000.

2 houses located on either bay are closed sales from the last 12 months. The least expensive was sold for $625,000 and the most expensive sold for $800,000.

Main Lake

23 houses on the main lake are currently for sale. The least expensive is offered at $924,900 and the most expensive is offered at $15,000,000.

1 house on the main lake is in “bumpable buyer” position. This means that a buyer has made and had an offer accepted that is subject to the sale of their current home. The list price on this house is $1,595,000.

4 houses on the main lake are sale pending. The least expensive was offered at $879,000 and the most expensive was offered at $1,985,000.

11 main lake houses became closed sales in the last twelve months. The least expensvie was sold for $300,000. (Really, an incredible value, probably reflecting land value. It was a short sale that was on the market for nearly a year. I do not know the details of this sale, but logic tells me that there were likely extreme structural or condition issues.) The most expensive was sold for $1,900,000.


So to answer the question “What does it cost to buy a home on the Lake?”, with this information I’d suggest it costs about $500,000 to $845,000 to buy a house on a canal; it costs about $625,000 to $800,000 to buy on a bay; and to get on the main lake, you might find a screaming deal for $300,000, but you can go as high as $1,900,000.


There has not been a closed sale over $2,000,000 in the last 12 months, yet of the 23 houses on the main lake currently for sale, 12 are listed for more than $2,000,000. This tells me that there are 12 home owners who are up against this economy in a very hard way.

The most expensive house for sale on the main lake is Jantzen Island, a 5 acre private estate. It has been in the news of late because the current owner, Jerry Stubblefield who founded Avia Shoes, and Chris Dudley, last year’s Republican candidate for Governor, are involved in a lawsuit over a 3.75 million dollar loan and ownership of Oregon’s most prestigious piece of real estate. The house was built in 1930, it has 13,500 square feet with 4 bedrooms, 6 full baths, and 2 half baths.

There is only one house for sale right now on the main lake that is priced at less than a million dollars. It’s a 1938 Tudor with 2889 square feet, 4 bedrooms, 3 full and 1 half baths, and it is neither a foreclosure or a short sale. If I were in the betting state of mind, I’d predict that this house will go pending long before the $2,300,000 house offered for sale on one of the bays.

I hope you find this information helpful. Give Linda or myself a call if you have any questions,