Market Activity ~ May 2-8, 2022

Last week Lake Oswego saw 16 properties enter the market, 24 move to Pending status, and 14 Closed/Sold.

Right now there are 61 properties to choose from ranging from $195,000 to $7.25 mil.

NEW May 2-8, 2022

AddressList PriceBedsBathsSFProp Type
47 EAGLE CREST DR #37$229,00011672CONDO
47 EAGLE CREST DR #20$280,000211009CONDO
86 KINGSGATE RD E103$370,00022924CONDO
2 MOUNTAIN CIR$499,00021.11372ATTACHD
4363 WOODSIDE CIR$581,950321532ATTACHD
16661 LAKE FOREST BLVD$585,00031936DETACHD
164 KINGSGATE RD$689,000321781DETACHD
17311 MANDI LN$695,00042.11779DETACHD
18440 SANDPIPER CIR$789,000321447DETACHD
343 3RD ST$935,00033.12101ATTACHD
4089 ORCHARD WAY$995,00042.12743DETACHD
19653 RIVER RUN DR$1,088,00042.12617DETACHD
13865 TAYLORS CREST LN$1,100,00042.12532DETACHD
19460 SW EASTSIDE RD$1,299,00053.24521DETACHD
5006 UPPER DR$1,499,90043.13284DETACHD
2671 GLEN EAGLES RD$1,895,000334014DETACHD

PENDING May 2-8, 2022

AddressList PriceBedsBathsSFProp TypeDays
45 EAGLE CREST DR #316$200,00011600CONDO168
47 EAGLE CREST DR #37$229,00011672CONDO0
45 EAGLE CREST DR #211$239,900221046CONDO89
47 EAGLE CREST DR #20$280,000211009CONDO3
3920 CARMAN DR$419,90022.11098CONDO15
1531 BONNIEBRAE DR$489,90031.11303ATTACHD32
2 MOUNTAIN CIR$499,00021.11372ATTACHD4
1674 FIRCREST DR$649,000421998DETACHD5
66 Wheatherstone$650,00043.12500CONDO8
5970 KENNYCROFT WAY$650,000321212DETACHD5
5342 BONITA RD$699,90031.11392DETACHD21
5710 WINDFIELD LOOP$699,900331822DETACHD6
36 GREENRIDGE CT$794,900432250ATTACHD35
5875 BONITA RD$839,00063.12650DETACHD24
17423 SCHALIT WAY$849,00042.12442DETACHD6
1299 HIDE A WAY LN$849,900321893DETACHD10
5750 WASHINGTON CT$869,00032.12430DETACHD4
4686 WINTHROP CT$895,00042.12238DETACHD3
343 3RD ST$935,00033.12101ATTACHD3
17865 SARAH HILL LN$1,099,95042.12871DETACHD5
5175 SW FIRWOOD RD$1,199,999322117DETACHD4
820 FAIRWAY RD$1,930,00043.13758DETACHD2
4460 UPPER DR$2,604,46043.14081DETACHD39
548 RIDGEWAY RD$2,995,000533498DETACHD32

SOLD May 2-8, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
668 MCVEY AVE #15$224,900$224,90011636CONDO2
47 EAGLE CREST DR #7$259,900$270,00021932CONDO4
47 EAGLE CREST DR #13$259,000$278,00021932CONDO27
317 CERVANTES / Grnd$330,000$382,000221209CONDO21
5838 LANGFORD LN$699,000$691,000331811DETACHD3
4813 REDWING WAY$699,900$745,000422092DETACHD2
17721 ARBOR LN$785,000$800,000321521DETACHD4
181 3RD ST #5$995,000$987,987221523CONDO4
1432 GREENTREE CIR$859,900$1,002,000432792DETACHD5
18108 HOBBIT CT$1,289,000$1,289,00032.13780DETACHD6
3781 TEMPEST DR$1,250,000$1,300,00042.13927DETACHD4
5863 SUNCREEK DR$1,295,000$1,570,000333302DETACHD1
603 ATWATER RD$1,750,000$1,720,00043.13430DETACHD4
4579 UPPER DR$2,250,000$2,250,00043.13701DETACHD3
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) .

Portland Area Real Estate Stats + LO ~ March 2022

Here is your look at what’s been happening in the overall Portland area including individual areas of the metro, and with Lake Oswego broken out below:

In the In the first three months of 2022 as compared with the same period in 2021, New Listings have decreased 1.3%, Pending Sales have decreased 3.7% and Closed Sales increased 1.2%.  Supply So, basically Inventory is insanely low, & that fact is keeping sales (Pendings & Solds) low as well for the quarter. BUT, as you’ll see below, though Inventory is still ridiculous, activity is picking up this month as it usually does and competition is still stiff, which means Appreciation is continuing to climb (see March 2022 & Neighborhood Report below).

Rates: “The Fed is trying to slow things down, and consequently right now rates sit at about 5.125%.”     Gary Boyer, Regional VP, Directors Mortgage                                                                                                                                                                                                                                          

According to the RMLS Market Action Report  for the Portland Metro Area-Mar 2022:

  • There were 3,521 New Listings in March 2022 increased 1.6% from March of 2021’s 3,465, and increased a whopping 37.0% from the previous month/Feb’s 2,571.
  • At 2,683  March 2022’s Closed Sales are up 5.0% from March 2021’s 2,556, and up another whopping 38.4% from the previous month/Feb 2022’s total of 1,939
  • At 3,045 March 2022’s Pending Sales are down 9.0% from March 2021’s 3,346, and up 24.2% from the previous month/Feb 2022’s total of 2,452.
  • The Average Sale Price in March 2022 of $610,900 is up $56,600 from last year/March 2021’s $554,300, and up $28,700 from the previous month/Feb’s $582,200.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in March 2022 of $550,000 rose from last year/March 2021’s $488,000 by $62,000, and $25,000 from the previous month/Feb’s $525,000. ***I’m not a statistician, but it seems to me that the above similarities in Average –vs- Median increases indicate that homes are selling across all pricing spectrums in somewhat even distribution. Prove me wrong! ; ) If true, this surprises me as the current rate hikes tend to make it harder for first time home-buyers who historically tend to buy in lower price ranges.

LAKE OSWEGO:

96 Active Listings  (Feb 60)
171 New Listings  (Feb 110)
119 Pending Sales (Feb 103)
102 Closed Sales  (Feb 66)
Average Sale Price for March: $1,092,200 (Feb $890,200)
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.
31 Days on the Market   (Feb 25)

Market Activity ~ April 18-24, 2022

This last week saw 23 New properties enter the market, 13 move to Pending status, and 24 Closed/Sold. Right now there are 68 properties available in Lake Oswego ranging from 195,000 to 7.25 mil.

NEW Apr 18-24, 2022

AddressList PriceBedsBathsSFProp Type
1979 COUNTRY CLUB RD$299,000221008CONDO
4405 THUNDER VISTA LN$395,500221506CONDO
3970 CARMAN DR$419,90022.11098CONDO
32 CONDOLEA DR / Grnd$434,00022.11197CONDO
210 OSWEGO SMT #210$469,000221448CONDO
1875 CREST DR$472,50022.11922CONDO
6331 SHAKESPEARE ST$519,90031.1992DETACHD
670 1ST ST$525,000221420CONDO
18554 HALLBERG CT$529,000321799ATTACHD
355 6TH ST$599,00032.11885DETACHD
3433 MCNARY PKWY #208$675,000321656DETACHD
3920 CARMAN DR$699,90031.11220DETACHD
5542 DUNMIRE DR$764,000421866DETACHD
18413 DEER OAK CIR$799,500221281DETACHD
762 9TH ST$829,00042.12252DETACHD
18084 WESTMINSTER DR$975,00033.12362ATTACHD
2088 CREST DR$1,015,00042.13256DETACHD
4206 WOODSIDE CIR$1,259,00032.12767CONDO
17596 OAK MEADOW LN$1,549,00053.15020DETACHD
5172 GREENSBOROUGH CT$1,599,00055.14143DETACHD
24 CONDOLEA DR / Grnd$1,599,00032.12844DETACHD
10 EAGLE CREST DR$1,995,00043.13957DETACHD
1474 GREENTREE CIR$7,250,00046.18259DETACHD

PENDING Apr 18-24, 2022

AddressList PriceBedsBathsSFProp TypeDays
4 TOUCHSTONE #69$239,90032.11351CONDO29
47 EAGLE CREST DR #7$259,90021932CONDO4
182 OSWEGO SMT / Upper$290,000221516CONDO4
3970 CARMAN DR$434,00022.11197CONDO5
5073 W SUNSET DR$515,00022.11720ATTACHD6
668 MCVEY AVE #63$575,00021852CONDO21
135 KINGSGATE RD$699,00032.11720DETACHD6
18554 HALLBERG CT$699,90031.11220DETACHD3
19 WALKING WOODS DR$749,900322513DETACHD4
181 3RD ST #5$995,000221523CONDO4
670 1ST ST$1,259,00032.12767CONDO2
17596 OAK MEADOW LN$1,599,00032.12844DETACHD2
17600 UPPER CHERRY LN$2,100,00043.13905DETACHD324

SOLD Apr 18-24, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY #52$229,000$170,00011617CONDO9
3930 LAKE GROVE AVE #2A$249,000$275,00021956CONDO4
3433 MCNARY PKWY #107$289,500$307,000221008CONDO3
224 RIDGEWAY RD / Upper$325,000$333,00011756CONDO6
5626 FERNBROOK WAY$574,960$610,00031.11250DETACHD2
5832 BENFIELD CT$575,000$634,00031.11336DETACHD4
1474 GREENTREE CIR$675,000$675,000321656DETACHD0
4200 OLD GATE RD$550,000$685,00031.11453DETACHD4
852 5TH ST$675,000$700,00021738DETACHD2
17763 MARDEE AVE$741,900$724,000532110DETACHD19
13700 PROVINCIAL HILL DR$725,000$800,00042.12078DETACHD2
12962 KNAUS RD$829,000$835,35032.11952DETACHD268
14 PARTRIDGE LN$668,000$838,000332658DETACHD5
4870 CENTERWOOD ST$839,900$840,00042.12434DETACHD5
17101 CAMPUS WAY$865,000$875,000433367DETACHD8
1150 GREENTREE RD$965,000$1,025,00041.22703DETACHD5
14580 UPLANDS DR$925,000$1,230,000332120DETACHD4
1001 CEDAR ST$1,495,000$1,340,00043.12572DETACHD14
1050 SCHUKART LN$1,399,900$1,455,00043.15847DETACHD4
4030 CANAL WOODS CT$1,380,000$1,500,000544103DETACHD4
734 CARRERA LN$1,295,000$1,510,00042.13898DETACHD4
1875 CREST DR$1,995,000$1,995,00043.13957DETACHD0
13725 CAMEO CT$2,450,000$2,300,00054.14984DETACHD14
1075 LAKE FRONT RD$5,500,000$5,300,00054.14562DETACHD0
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 ~ April 4-10, 2022

This last week Lake Oswego saw 25 New properties enter the market, 28 move to Pending status, and 11 to Closed/Sold. Right now there are 57 properties available in Lake Oswego ranging from $195,000 to $7.2 Mil.

Here is a snapshot of what happened according to RMLS:

NEW April 4-10, 2022

AddressList PriceBedsBathsSFProp Type
4 TOUCHSTONE #124$320,00032.11351CONDO
86 KINGSGATE RD, D105$349,95022924CONDO
4000 CARMAN DR, C49$375,00011.11004CONDO
6025 KENNY ST$599,00031.11254DETACHD
1726 CONIFER DR$689,000521800DETACHD
4813 REDWING WAY$699,900422092DETACHD
18 NORTHVIEW CT$750,00033.12717ATTACHD
13855 VERTE CT$799,90032.11835DETACHD
16053 LAKE FOREST BLVD$799,950422100DETACHD
16525 GLENWOOD CT$890,00032.12298DETACHD
1435 GREENTREE CIR$899,00042.12269DETACHD
14580 UPLANDS DR$925,000332120DETACHD
2525 DELLWOOD DR$950,000532836DETACHD
126 DEL PRADO ST$985,00053.13932DETACHD
920 CAPILANO CT$999,00032.12887DETACHD
1909 PALISADES TERRACE DR$1,150,00033.13100DETACHD
19505 OLSON AVE$1,250,00052.13022DETACHD
14190 TAYLORS CREST LN$1,299,00052.12961DETACHD
4867 UPPER DR$1,349,000532956DETACHD
15804 ALLISON PL$1,538,00042.13662DETACHD
18058 PILKINGTON RD$1,538,999433225DETACHD
603 ATWATER RD$1,750,00043.13430DETACHD
17600 UPPER CHERRY LN$2,100,00043.13905DETACHD
17230 Lake Haven DR$2,100,00032.13766DETACHD
6319 WASHINGTON CT$2,200,000443854DETACHD

PENDING April 4-10, 2022

AddressList PriceBedsBathsSFProp TypeDays
4 SW TOUCHSTONE DR #150$220,00022984CONDO59
668 MCVEY AVE #15$224,90011636CONDO2
45 EAGLE CREST DR #309$229,900221056CONDO28
47 EAGLE CREST DR #13$275,00021932CONDO27
3958 CARMAN DR / Grnd$434,90022.11133CONDO15
6321 ALYSSA TER$515,00032.11546ATTACHD5
668 MCVEY AVE #63$575,00021852CONDO7
2091 BONNIEBRAE DR / Grnd$625,00032.11792CONDO6
4 PREAKNESS CT$650,000321985ATTACHD36
14 PARTRIDGE LN$668,000332658DETACHD5
4813 REDWING WAY$699,900422092DETACHD2
17721 ARBOR LN$785,000321521DETACHD4
2542 SW ORCHARD HILL LN$790,000321754DETACHD4
16053 LAKE FOREST BLVD$799,950422100DETACHD3
1432 GREENTREE CIR$859,900432792DETACHD5
17101 CAMPUS WAY$865,000433367DETACHD8
920 CAPILANO CT$999,00032.12887DETACHD3
14760 UPLANDS DR$999,000432772DETACHD6
1909 PALISADES TERRACE DR$1,150,00033.13100DETACHD3
26 BRIARWOOD RD$1,249,000432554DETACHD19
19505 OLSON AVE$1,250,00052.13022DETACHD2
3781 TEMPEST DR$1,250,00042.13927DETACHD4
734 CARRERA LN$1,295,00042.13898DETACHD4
17897 SUNDOWN CT$1,675,000533755DETACHD45
13636 GOODALL RD$2,395,00044.14380DETACHD7
13078 FIELDING RD$2,795,000433596DETACHD161
15508 DIAMOND HEAD RD$3,480,000343900DETACHD227
14390 UPLANDS DR$5,795,00044.17839DETACHD21

SOLD April 4-10, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
15483 Brianne CT$415,000$440,00022.11208ATTACHD2
210 S STATE ST #7$449,900$485,000321302CONDO4
6025 CARMAN DR$699,900$690,000321641DETACHD4
1625 MEADOWS DR$750,000$810,000421672DETACHD4
412 LIVINGOOD LN$1,072,698$989,25552.13880DETACHD10
17348 HUNTER CT$929,000$1,005,00032.13112DETACHD4
15562 HERITAGE CT$864,000$1,198,32342.12338DETACHD5
928 LAKE FRONT RD$1,299,900$1,405,000432468DETACHD6
3938 EDENS EDGE DR$1,450,000$1,662,00043.13880DETACHD4
411 RIDGEWAY RD$1,725,000$1,800,00032.13291DETACHD3
13041 KNAUS RD$4,198,000$3,650,00044.14924DETACHD91
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 Area Real Estate Stats + LO ~ Feb 2022

Here is your look at what’s been happening in the overall Portland area including individual areas of the metro, and with Lake Oswego broken out below:

Overview/Fluctuations ~

Market Data February 2022:                         

In the first two months of 2022 as compared with the same period in 2021, New Listings have decreased 3.6%, Pending Sales have slightly increased at 0.6% and Closed Sales decreased 1.0%.        Supply is still the drama queen affecting the local market and remains at historic lows, meaning Buyers are in heavy competition over what’s available. The other factor is rates. They are going to be going up, and not likely coming back down as low as they’ve been anytime soon, so if you’re wanting to purchase a home, it would be a good idea not to put it off.

Rates: “We have seen extreme volatility in the markets over the last few weeks. Right now 30-year fixed rates stand at about 4.125%.” Gary Boyer, Regional VP, Directors Mortgage                                                                                                                                                                                                                                          

According to the RMLS data  for the Portland Metro Area- Feb 2022:

  • There were 2,571 New Listings in Feb 2022 increased 3.9% from Feb of 2021’s 2,474,  and increased 11.4% from the previous month/Jan’s 2,307.
  • At 1,939  Feb 2022’s Closed Sales are down 2.0% from Feb 2021’s 1,978, and up 4.6% from the previous month/Jan 2022’s total of 1,853
  • At 2,452 Feb 2022’s Pending Sales are up 11.1% from Feb 2021’s 2,208, and up 7.2% from the previous month/Jan 2022’s total of 2,287.
  • The Average Sale Price in Feb 2022 of $582,200 is up $40,200 from last year/Feb 2021’s $542,000, and down a bit at $4,400 from the previous month/Jan’s $586,600.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Feb 2022 of $525,000 rose from last year/Feb 2021’s $479,100 by $45,900, and $13,000 from the previous month/Jan’s $512,000.

LAKE OSWEGO:

60 Active Listings (Jan 61)
110 New Listings  (Jan 83)
103 Pending Sales (Jan 78)
66 Closed Sales  (Jan 82)
Average Sale Price for Feb: $890,200 (Jan $1,054,400)
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.
25 Days on the Market   (Jan 29)

Market Activity ~ March 14-20, 2022

Last week Lake Oswego saw 13 properties come on the market, 17 move to Pending status and 19 Closed/Sold. There are currently 44 homes available in Lake Oswego ranging from $200,000 to $5.8mil.

NEW March 14-20, 2022

AddressList PriceBedsBathsSFProp Type
100 KERR PKWY #52$229,00011617CONDO
3433 MCNARY PKWY #107$289,500221008CONDO
224 RIDGEWAY RD / Upper$325,00011756CONDO
5211 MADRONA ST$574,900322042DETACHD
5832 BENFIELD CT$575,00031.11336DETACHD
4902 CHILDS RD$700,00031.11370DETACHD
412 LIVINGOOD LN$1,072,69852.13880DETACHD
1640 OAK ST$1,160,00042.13301DETACHD
18108 HOBBIT CT$1,289,00032.13780DETACHD
362 9TH ST$1,450,00032.12018DETACHD
4929 Park Bluff PL$2,600,00043.14067DETACHD
1075 LAKE FRONT RD$5,500,00054.14562DETACHD
14390 UPLANDS DR$5,795,00044.17839DETACHD

PENDING March 14-20, 2022

AddressList PriceBedsBathsSFProp TypeDays
6025 CARMAN DR$699,900321641DETACHD4
4870 CENTERWOOD ST$839,90042.12434DETACHD5
17348 HUNTER CT$929,00032.13112DETACHD4
1004 CUMBERLAND PL$1,100,000523313DETACHD4
12715 ADRIAN CT$1,150,00042.13003DETACHD3
1640 OAK ST$1,160,00042.13301DETACHD3
18108 HOBBIT CT$1,289,00032.13780DETACHD6
4030 CANAL WOODS CT$1,380,000544103DETACHD4
2612 RIVENDELL RD$1,389,900433521DETACHD4
1050 SCHUKART LN$1,399,90043.15847DETACHD4
735 7th ST$1,725,00033.13073DETACHD5
1949 CHERYL CT$1,750,00054.25011DETACHD4
3115 WEMBLEY PARK RD$2,000,00043.13800DETACHD8
13725 CAMEO CT$2,195,000.0054.14984DETACHD14
3578 CARMAN DR$2,200,000.0053.14000DETACHD27
4929 Park Bluff PL$2,600,000.0043.14067DETACHD
1075 LAKE FRONT RD$5,500,000.0054.14562DETACHD0

SOLD March 14-20, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
45 EAGLE CREST DR #312$229,000$214,00011780CONDO16
12 CERVANTES CIR$260,000$305,00021.1912CONDO206
750 1ST ST E27$615,900$478,500221350CONDO162
2806 SW ORCHARD HILL PL$649,000$649,00032.12324DETACHD5
959 LEE ST$719,000$665,000322340DETACHD42
3 MOUNTAIN CIR$675,000$730,000321580ATTACHD4
16946 LOWER MEADOWS DR$839,900$839,90032.11769DETACHD3
48 HILLSHIRE DR$795,500$955,000433034DETACHD5
1770 HEADLEE LN$879,000$970,745232505DETACHD4
4 WESTMINSTER DR$895,000$1,130,000432258DETACHD6
2719 GREENTREE RD$985,000$1,150,00053.13886DETACHD5
14232 MEADOW GRASS ST$1,100,000$1,249,000432894DETACHD4
3778 RIVERS EDGE DR$1,150,000$1,365,00043.13012DETACHD5
18002 PILKINGTON RD$1,599,000.00$1,600,000433629DETACHD3
2305 GLEN HAVEN RD$2,175,000.00$2,275,000543632DETACHD82
17486 REDFERN AVE$2,175,000.00$2,288,800543632DETACHD4
3817 UPPER DR$2,350,000.00$2,615,00053.14246DETACHD4
1845 HIGHLANDS LOOP$2,995,000$3,100,00043.25306DETACHD3
2812 LAKEVIEW BLVD$3,399,900$3,400,00033.13100DETACHD14

Criteria: (RMLS DATA) 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.

Attached vs Condo, What’s the Difference?

I think that most people think that the word attached (also commonly called townhouse) is based upon the design of the property.  Either one or two story with no neighbor above or below. That is not the case. Attached does mean that you don’t have a neighor above or below, but, more importantly, it means that you own the dirt underneath.  Because you own the dirt, you are responsible for the upkeep and maintenance of the crawl space.

There is a huge advantage to purchasing an attached home. Besides not having someone living above you, it is much  easier to finance, which makes it easier to sell. Lenders treat attached houses just like any other house.

 

With a condo you own the interior walls and everything inside of those walls. The exterior walls, crawlspace, and roof are all part of the limited common areas of the home owners association.

Condos can be a little bit problamatic when it comes to financing.  Federal lending guidelines requre that at least 50% of the units be owner occupied, and one individual or entity can not own more than 10% of the units. Additionally, to be FHA financeable, the HOA must apply for and maintain their FHA eligibility. This is often neglected by the HOA and so it is not always availble. Because condos tend to be more affordable, they are often purchased by first time home buyers. With out FHA financing, it can be too hard for first ime buyers to come up with enough of a down payment to purchase in communities that don’t have FHA approval.

When Linda and I do the Market Activity Report, we always indicate if a property is Detached, Attached, or a Condo. I thought it would be helpful if you understood the differences.

As always, thanks for reading the Blotter,

Dianne

Market Activity March 7-13, 2022

Last week in Lake Oswego there were 21 new listings, 15 that went into pending status, and 9 sold/closed properties.

Something that has frustrated me for a while is that when I pull the stats for this report many houses will have already moved into pending status, when, in fact, they were also new listings last week. I tried something different this week by taking an additional step to make sure they are included as new listings as well as pending. For this reason, you’ll see several properties that show up in both sections of this report.

See below for additional RMLS data.

New on the Market March 1-13, 2022

Address Type Price BR Baths Sq Ft
45 Eagle Crest Dr #309 Condo $259,900 2 2-Jan 1056
230 Laurel St Detached $661,900 3 2 1339
6025 Carman Dr Detached $699,900 3 2 1641
13700 Provencial Hill Dr Detached $725,000 4 2.5 2078
12729 SW 19th Ave Detached $799,000 4 3 2554
4870 Centerwood St Detached $839,900 4 2.5 2434
17348 Hunter Ct Detached $929,000 3 2.5 3112
5554 Luce Ln Detached $998,900 4 3 3269
1004 Cumberland Pl Detached $1,100,000 5 2 3313
12715 Adrian Ct Detached $1,150,000 4 2.5 3003
38 Briarwood Rd Detached $1,279,000 4 3 2552
26 Briarwood Rd Detached $1,279,000 4 3 2554
4030 Canal Woods Ct Detached $1,380,000 5 4 4103
2612 Rivendell Rd Detached $1,389,000 4 3 3521
1050 Schukart Ln Detached $1,399,000 4 3.5 5847
3938 Edens Edge Dr Detached $1,450,000 4 3.5 3880
21 D Ave #2 Condo $1,718,400 2 2.5 2183
735 7th St Detached $1,725,000 3 3.5 3073
1949 Cheryl Ct Detached $1,750,000 $5 4.5+.5 5011
21 D Ave #12 Condo $1,863,600 2 2.5 2177
3115 Wembley Park Rd Detached $2,000,000 4 3.5 3800

Pending Sales March 7-13, 2022

Address Type Price BR Baths Sq Ft CDOM
213 Cervantes Condo $329,000 2 1.5 1216 7
210 State St 37 Condo $449,900 3 2 1302 32
4434 Thunder Vista Ln Condo $479,000 2 2.5 2040 4
27 Aquinas St Detached $559,900 3 2.5 1530 4
230 Laurel St Detached $661,900 3 2 1339 2
143 Church St Detached $700,000 2 1 1220 61
13700 Provincial Hill Dr Detached $725,000 4 2.5 2078 2
15562 Heritage Ct Detached $864,000 4 2.5 2338 5
23 Touchstone Detached $924,900 5 4 3169 7
554 Luce Ln Detached $998,900 4 3 3269 3
3778 Rivers Edge Dr Detached $1,150,000 4 3.5 3012 5
928 Lake Front Rd Detached $1,299,900 4 3 2468 6
3938 Edens Edge Dr Detached $1,450,000 4 3.5 3880 4
1001 Cedar St Detached $1,495,000 4 3.5 2572 14
21 D Ave #2 Condo $1,718,400 2 2.5 2183 0

Sold/Closed March 7-13, 2022

Address Type List Price Sold Price Sq Feet DOM
200 Burnham Rd #206 Condo $359,000 $345,000 1199 62
3974 Carman Dr Attached $380,000 $380,000 1107 0
13991 Majestic Ct Detached $550,000 $600,000 1765 4
16940 Tracy Ave Detached $675,000 $624,000 1656 88
91 Tanglewood Dr Detached $799,900 $789,900 3111 21
14141 Goodall Rd Detached $784,900 $815,000 1939 2
18582 Bryant Rd Detached $799,900 $872,698 2579 2
19001 Redwing Way Detached $829,000 $876,500 2116 3
150 Iron Mountain Blvd Detached $1,100,000 $1,200,000 2868 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.

Market Activity ~ Feb 28- Mar 6, 2022

Spring is sprung in the local market! Last week in Lake Oswego we saw 20 Properties enter the market, 20 move to Pending/Accepted Offer status and 15 Sold/Closed. There are 51 from 215,000 to 5.3 mil available in Lake Oswego right now.

NEW Feb 28-Mar 6, 2022

213 CERVANTES, Grnd$329,00021.11216CONDO
15483 Brianne CT$415,00022.11208ATTACHD
4061 JEFFERSON PKWY$425,00022.11462CONDO
210 S STATE ST #7$449,900321302CONDO
4434 THUNDER VISTA LN$479,00022.12040CONDO
4200 OLD GATE RD$550,00031.11453DETACHD
13991 MAJESTIC CT$550,000321765DETACHD
27 AQUINAS ST$599,90032.11530DETACHD
4 PREAKNESS CT$650,000321985ATTACHD
5497 WILLOW CT$775,00032.12427ATTACHD
14179 SUNDELEAF DR$849,900522617DETACHD
15562 HERITAGE CT$864,00042.12338DETACHD
86 TANGLEWOOD DR$885,000433192DETACHD
23 TOUCHSTONE$924,900543169DETACHD
3778 RIVERS EDGE DR$1,150,00043.13012DETACHD
928 LAKE FRONT RD$1,299,900432468DETACHD
3545 UPPER DR$1,300,00043.12742DETACHD
1000 UPPER DEVON LN$1,695,00043.13535DETACHD
21 D AVE #5$1,808,40022.12108CONDO
13725 CAMEO CT$2,450,00054.14984DETACHD

PENDING Feb 28-Mar 6, 2022

AddressList Price# Beds# BathsTotal SFProp TypeDays
4 TOUCHSTONE #101$254,00042.11456CONDO31
12 CERVANTES CIR$260,00021.1912CONDO206
209 CERVANTES$325,00021.11216CONDO18
200 BURNHAM RD #208$347,500221320CONDO2
16250 PACIFIC HWY #44$387,000221305CONDO10
15483 Brianne CT$415,00022.11208ATTACHD2
20 SUMMIT RIDGE CT$499,00022.11704CONDO13
4200 OLD GATE RD$550,00031.11453DETACHD4
1625 MEADOWS DR$750,000421672DETACHD4
12962 KNAUS RD$829,00032.11952DETACHD268
14179 SUNDELEAF DR$849,900522617DETACHD3
86 TANGLEWOOD DR$885,000433192DETACHD4
353 3RD ST$909,00033.12044ATTACHD7
1805 GLENMORRIE TER$1,075,00032.12798DETACHD4
5959 SUNCREEK DR$1,150,00042.13315DETACHD5
2991 DELLWOOD DR$1,289,00042.24308DETACHD104
21 D AVE #12$1,863,60022.12177CONDO86
3817 UPPER DR$2,350,00053.14246DETACHD4
14655 UPLANDS DR$3,300,00055.24775DETACHD107
13041 KNAUS RD$3,695,00044.14924DETACHD91

SOLD Feb 28-Mar 6, 2022

AddressOpeningClosedBedsBathsSFProp TypeDAYS
89 GALEN ST$199,000$225,00011552CONDO3
4647 LAKEVIEW BLVD, D1$229,999$250,00011753CONDO4
44 EAGLE CREST DR #39$269,900$269,900211085CONDO0
44 EAGLE CREST DR #32$250,000$280,00021908CONDO3
86 KINGSGATE RD, H101$349,000$355,00022918CONDO4
5788 KIMBALL CT$530,000$590,00041.11148DETACHD4
1720 KILKENNY DR$699,900$737,02432.11348DETACHD53
18561 KRISTI WAY$649,950$750,00032.11450DETACHD6
5207 COVENTRY CT$759,698$840,000321858DETACHD3
6 GROUSE TER$850,000$1,000,000333653DETACHD4
17095 WESTVIEW DR$985,000$1,052,000433356DETACHD2
580 WEIDMAN CT$1,100,000$1,219,17553.13952DETACHD5
3545 UPPER DR$1,300,000$1,400,00043.12742DETACHD0
872 COUNTRY CMNS$140,000$1,428,00042.12800DETACHD0
566 4TH ST$1,549,000$1,455,00044.23376ATTACHD33
Criteria: (RMLS DATA) 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.

This Week in Lake Oswego

Here are my picks for what to do this week in Lake Oswego, either online or in person:

Mon, Feb 28, 2022 – 5:30PM-9:00PM– 12 yrs & up.- Bob Ross Oil Painting: Tropical Sunset (Live Instruction) ~Easy in-person instruction for beginners and more experienced painters ~ CCP, 1060 Chandler Rd –  More Info & Registration:  CLICK HERE

Tues, March 1, 2022 – 4:30PM-6:30PM – 18yrs & up – Painting in Oils & Acrylic (Virtual Class )~Learn to paint! All materials provided for this virtual class – More Info & Registration:  CLICK HERE

Wed, March 2, 2022 – 6:30PM-8:00PM Chautaqua Historic Lecture Series (in-person or virtual)~ “ Kim Huey discusses the beginnings of Chautauqua and the Gladstone Chautauqua  ~ Oswego Heritage House and Museum, 398 Tenth Street – or Zoom! – More Info & Registration:  CLICK HERE

Thurs, March 3, 2022 – 9:15AM-10:30PMPMNia at Lakewood Drop-In ~ Series taught by Black Belt Nia Instructor Carol Kaplan at Lakewood Center on Tuesdays and Thursdays.- Lakewood Center for the Arts ~ 368 S State St – More Info & Registration Options:  CLICK HERE

Fri, March 4, 2022 – 3:30-4:15PM – (3-5yrs) Toes & Tap! ~ Learn the basics of ballet and tap dancing in this fun environment using popular music. CCP, 1060 Chandler Rd More Info & Registration: CLICK HERE

Sat, March 5, 2022 – 11:00AM till Tickets gone! – Author C Pam Zhang Ticket Giveaway – This is a ticket-giveaway for the upcoming event with author  C Pam Zhang who discusses How Much of These Hills Is Gold: A Reimagined History.  Her presentation will wind up the Lake Oswego Reads 2022 program on Friday, April 29th at 7:00 p.m. at Lakeridge High School. Event is free to all library-cardholders, but a ticket is required- Lake Oswego Library, 706 4th St – More Info :  CLICK HERE

Sun, March 6, 2022 – From Tuesday, March 1 – 10:00am Thursday, March 31 – All Open HoursGlobal Art Project for Peace~ Participate with the Lake Oswego Library in the 2022 15th Biennial by visiting the children’s library to create an art piece expressing your vision of global peace and goodwill. Art supplies provided. You can also participate by creating art at home and bringing it to the library. ~ Lake Oswego Library (lower level), 706 4th St More Info : CLICK HERE