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

Market Activity ~ Feb 14-20, 2022

Last week Lake Oswego had 5 properties enter the market, 14 move to Pending status, and 11 that Sold/Closed. Right now there are 53 properties available in Lake Oswego ranging from $214,000 to $5.3 mil.

Here is the breakdown according to RMLS:

NEW Feb 14-20, 2022

AddressList PriceBedsBathsSFProp Type
47 EAGLE CREST DR  #16$239,00021932CONDO
209 CERVANTES, Lower$325,00021.11216CONDO
20 SUMMIT RIDGE CT$499,00022.11704CONDO
17897 SUNDOWN CT$1,950,000533755DETACHD
3578 CARMAN DR$2,200,00053.14000DETACHD

PENDING Feb 14-20, 2022

AddressList PriceBedsBathsSFProp TypeDays
44 EAGLE CREST DR  #32$250,00021908CONDO3
3101 MCNARY PKWY  #8$320,000323064CONDO0
5309 SW WEST SUNSET DR$599,900421449DETACHD25
3 MOUNTAIN CIR$675,000321580ATTACHD4
12962 KNAUS RD$829,00032.11952DETACHD255
1770 HEADLEE LN$879,000232505DETACHD4
4 WESTMINSTER DR$895,000432258DETACHD6
2095 RIDGE POINTE DR$1,085,00032.13748DETACHD4
4719 LAKEVIEW BLVD$1,499,000432934DETACHD3
566 4TH ST$1,549,00044.23376ATTACHD33
17486 REDFERN AVE$2,175,000543632DETACHD4
5001 SW Park Bluff PL$2,200,000444022DETACHD32
15012 TWIN FIR RD$2,599,00053.13897DETACHD187
2812 LAKEVIEW BLVD$3,399,90033.13100DETACHD14

SOLD Feb 14-20, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY  #38$185,000$185,00011628CONDO123
47 EAGLE CREST DR  #36$249,900$275,00021932CONDO1
16250 PACIFIC HWY  #45$359,000$345,000221311CONDO45
5225 JEAN RD  #501$399,900$455,000321500ATTACHD3
4325 SILVER CT,  Upper$499,000$485,00032.11844CONDO49
1719 ASPEN CT$590,000$575,000321444DETACHD49
351 3RD ST$924,900$951,00033.12042ATTACHD3
837 OAK ST$999,950$1,100,00032.12796DETACHD5
19 HIDALGO ST$998,500$1,150,00043.14747DETACHD2
17908 BLUE HERON DR$1,799,000$1,775,000344172DETACHD58
567 10TH ST$1,785,000$1,870,00043.14706DETACHD85

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.

News & Notes ~ Jan 2022 Numbers

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 January 2022:                                         Looking at the first month of 2022 as compared to the same month last year, New Listings have decreased 10.5%, Pending Sales have decreased 8.4% and Closed Sales increased 0.3%. Supply is still the biggest issue affecting the local market and remains at historic lows with less than a few week’s worth of inventory available.

The other factor is rates~ While they remain very low relatively speaking (for anyone who remembers how high they’ve been in the past) they’re hovering around 3.875% right now and all predictions are for several increases this year. This factor would be spurring more Buying activity than we currently see but for the lack of inventory. That said, it remains a given that savvy Buyers ought to be taking advantage of these rates now, and, generally speaking, would-be Sellers would be well advised to List now rather than wait till later.

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

  • There were 2,307 New Listings in Jan 2022 decreased 10.5% from Jan of 2021’s 2,579, and decreased a whopping 44.3% from the previous month/Dec’s 1,599.
  • At 1,853  Jan 2022’s Closed Sales are up 0.3% from Jan 2021’s 1,847, and down 28.2% from the previous month/Dec 2021’s total of 2,582
  • At 2,287 Jan 2022’s Pending Sales are down 8.4% from Jan 2021’s 2,496, and up 17.8% from the previous month/Dec 2021’s total of 1,942.
  • The Average Sale Price in Dec 2021 of $586,600 is up $71,900 from last year/Jan 2021’s $514,700, and up $3,700 from the previous month/Dec2021’s $582,900.   YTD increase is 15.8%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Jan 2022 of $512,000 rose from last year/Jan 2021’s $460,000 by $52,000, and also $1,000 from the previous month

LAKE OSWEGO:

61 Active Listings (Dec 63)
83 New Listings  (Dec 71)
78 Pending Sales (Dec 82)
82 Closed Sales  (Dec 134)
Average Sale Price for Jan: $1,054,400 (Dec $1,024,400)
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.
29 Days on the Market   (Nov 36)

Market Activity ~ Jan 31-Feb 6, 2022

This last week 5 Properties entered the market, 10 moved to Pending status, and 7 Closed/Sold. There are 48 homes available right now in Lake Oswego ranging from 215,000 to 5.2 mil.

Here is the latest:

NEW Jan 31-Feb 6, 2022

AddressList PriceBedsBathsTotal SFProp Type
45 EAGLE CREST DR$249,900221046CONDO
5225 JEAN RD$360,000221100CONDO
3990 CARMAN DR$415,90022.11098CONDO
13078 FIELDING RD$3,150,000433936DETACHD
2812 LAKEVIEW BLVD$3,399,90033.13100DETACH

PENDING Jan 31-Feb 6, 2022

AddressList PriceBedsBathsTotal SFProp TypeDays
4 TOUCHSTONE  #94$248,00032.11351CONDO7
47 EAGLE CREST DR  #36$249,90021932CONDO1
4 TOUCHSTONE  #101$268,00042.11456CONDO8
86 KINGSGATE RD, H101$349,00022918CONDO4
1720 KILKENNY DR$685,00032.11348DETACHD53
17763 MARDEE AVE$741,900532110DETACHD19
4503 BLACK FOREST CT$795,00042.12166DETACHD2
18582 BRYANT RD$799,90032.12579DETACHD2
19 HIDALGO ST$998,50043.14747DETACHD2
15508 DIAMOND HEAD RD$3,480,000343900DETACHD169

SOLD Jan 31-Feb 6, 2022

AddressOpeningClosedProp TypeSFBedsBathsDays
6317 CARMAN DR $      650,000 $      560,000DETACHD134431.178
52 NORTHVIEW CT $      649,900 $      635,000ATTACHD219832.154
4966 GALEN ST $      600,000 $      656,000DETACHD1699325
115 TOUCHSTONE TER $      709,000 $      670,000ATTACHD256043.179
302 LAUREL ST $      679,000 $      684,000DETACHD1907326
175 FURNACE ST/Upper $   1,598,000 $  1,598,000CONDO189822.11
752 8TH ST $   1,877,000 $  1,903,000DETACHD403253.127
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.

Lake Oswego Canals

The city/town of Lake Oswego completely surrounds Oswego Lake. Living here is all about the water. There are various options when it comes to considering waterfront property. The main lake is one (most expensive option) the bays are another possibility, and then there are the unique and beautiful canals that are actually more affordable & have that other-worldly or at least Venetian feel.

But whether you live waterfront or not, the water is a constant companion & everything in Lake Oswego is built to accommodate it’s flow. Before I became a Realtor (waaaay back ; ) I used to work in Lake Oswego. And I would drive from my Palisades home via South Shore Blvd to get to my office. I love that drive, and especially love passing over the bridges that cross the canals. There is such a peaceful feeling to it. The only better commute came when I shifted to an in-home office! But of course I can always find a reason, work-related or not, to wind my way along South Shore.

Traversing along South Shore, you cross three bridges. Oswego Canal runs alongside Kelok Rd & was completed in 1872 when it was dug with the intention to connect the Tualatin River to the Willamette River via “Sucker Lake” (originally known “Waluga Lake” & later more eloquently renamed from the “Sucker Lake” moniker given it by the settlers). It was widened in 1881. Originally this canal was meant to allow for lumber & other goods to traverse across the lake & then move on to the Willamette across a very short distance via a planned series of aqueducts to adjust for elevation differences. Those aqueduct plans were eventually scrubbed after Willamette Falls Locks created a new and easier/preferable shipping option than the Tualatin River.

The other two canals that you cross over when taking that beautiful scenic drive are the Blue Heron Bay/Canal. It winds along and ends before you reach Bryant Rd, not connecting to any other body of water than Oswego Lake. West Bay also has a shorter canal that you’ll cross over while on South Shore that leads from the lake to the bay.

On the other side of the lake, a short canal was dug back in 1828 to connect to a marshy area called the Duck Pond which was flooded and then became a part of the lake. We know it as Lakewood Bay near city-center shops, restaurants, the theater, Millenium Plaza Park, and Hwy 43/State St. There is a little bridge over the canal at Northshore Rd.

Market Activity ~Jan 17-23, 2022

Greetings Dear Property Blotter Readers! Last week we had just one property come to market, and that one was on the market in December/then something happened & it came back as available. It is a beautiful home! I used to live right up the hill from it and though it backs to a busy road, the landscaping and well-nurtured privacy they’ve created is really something to see. Plus, it is in a coveted spot in Palisades! It’s very near to where the Palisades Market used to be…I called it Planet Palisades as when you walked in the door (which I did often), the ambience and the people who worked there really did make your day…every time. There is a New Seasons slated to go in that space and I have a feeling they will carry that whole tradition forward. The 7 Dees landscaping nursery is also nearby, as is a really nice Thai dining place, as well as easy access on Stafford or South Shore or Hwy 43…its all close, and the list goes on. Check it out if you’re looking.

We also saw 11 properties move to Pending status, and 10 that Closed/Sold. Right now there are 36 properties available in Lake Oswego from $248,000 to $5.2.

Here is the breakdown for last week according to RMLS:

NEW Jan 17-23, 2022

AddressList Price# Beds# BathsTotal SFProp Type
1720 KILKENNY DR $        699,90032.11348DETACHD

PENDING Jan 17-23, 2022

AddressList Price# Beds# BathsTotal SFProp TypeDays
100 KERR PKWY  #38$185,00011628CONDO123
30 CRESTFIELD CT$290,00022989CONDO1
1719 ASPEN CT$575,000321444DETACHD49
16940 SW TRACY AVE$650,00041.21656DETACHD88
17763 MARDEE AVE$741,900532110DETACHD6
8 DA VINCI ST$779,000532906DETACHD4
19001 REDWING WAY$829,00032.12116DETACHD3
12962 KNAUS RD$829,00032.11952DETACHD230
14361 SHERBROOK PL$899,00032.12100DETACHD2
17095 WESTVIEW DR$985,000433356DETACHD2
13888 SHIREVA DR$1,200,00052.13827DETACHD4

SOLD Jan 17-23. 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY  #19$170,000$170,00011617CONDO52
200 SW Burnham RD  #203$299,000$296,000211199CONDO29
4429 THUNDER VISTA LN$479,900$455,00022.12002CONDO111
4 PREAKNESS CT$550,000$500,000321985ATTACHD32
4939 HAMPTON CT$895,000$900,00042.12971DETACHD62
41 AQUINAS ST$785,000$985,00043.13558DETACHD1
425 KENWOOD RD$1,090,000$1,140,00032.13527DETACHD6
223 Cornell CT$965,000$1,190,00053.13756DETACHD10
1913 CHERYL CT$1,895,000$1,699,00044.15341DETACHD103
4247 LORDS LN$2,650,000$2,275,00043.13785DETACHD115

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.

News & Notes ~ Dec 2021 + Year-End Comparison

Every year I like to add in a comparison at the end of the year to the year prior being as the December report offers a unique opportunity to look at just that. So, below you’ll find our usual monthly overview & Neighborhood Report along with a comparison; 2021 to 2020.

As always, Lake Oswego info for Dec 2021 is broken out below as well.

Overview/Fluctuations ~  Market Data Dec 2021 (+2020):    

Inventory is now at a stunning 0.6 months of supply in the Portland area for December. Our supply has simply never been this low… a little more than 2 weeks of Inventory available. Rates as of this writing are hovering around 3.5%, and the Fed is signaling that rates will be rising.                                      

The twelve months of 2021 compared to 2020:

New Listings, (40,531) increased 5.4%.Pending Sales (35,405) increased 7.8%, and –Closed Sales (35,182) increased 9.8%.   ***By Comparison, Twelve months of 2020 (to compare to 2021 above) from last year’s December report read: -New Listings, (38,442) decreased 5.2%, -Pending Sales (32,849) increased 7.9%, and -Closed Sales (32,031) increased 7.8%.

LAKE OSWEGO:

63 Active Listings (Nov 92)
71 New Listings  (Nov 99)
82 Pending Sales (Nov 124)
134 Closed Sales  (Nov 127)
Average Sale Price for Nov: $1,024,400 (Nov $964,300)
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.
29 Days on the Market   (Nov 36)