Market Activity February 15-22, 2021

I think that the fact that our current real estate market is lacking inventory is pretty well known. There are many more buyers trying to buy homes than there are homes for sale. Preparing this market activity report a first has happened. Last week in Lake Oswego there was just one new listing. In all of the many years that Linda and I have been writing the blotter, I don’t recall that this has happened before. Hopefully it’s just a fluke and in the coming weeks the inventory will start to build up to meet the spring demand. Last week there were also 12 properties that accepted offers and went into pending status, as well as 18 closed/sold houses.

See below for RMLS data explanations

New on the market February 15-22, 2021

AddressTypePriceBRBathsSq Ft
4832 Redwing WayDetached$599,900321472

Pending sales February 15-21, 2021

AddressTypePriceBRBathsSq FtCDOM
100 Kerr Pkwy #5Condo$169,00011617171
3930 Lake Grove Ave 1BCondo$215,0002195811
4320 Botticelli ST #11Attached$309,90022.5+.5226018
16880 Cortez CtDetached$599,9003323133
5091 Tualata LnDetached$625,0003215006
853 E AveDetached$650,000217506
19603 River Run DrDetached$800,00042.526566
15606 Manchester DrDetached$849,90032.526563
1920 Park Forest AveDetached$1,125,00033267919
17884 Kelok RdDetached$1,229,00043.5412419
2230 Wembley Park RdDetached$1,785,00054.5460736
907 Terrace DrDetached$2,875,00064.5+.5+.57296128

Closed/Sold February 15-22, 2021

AddressTypeList PriceSold PriceSq FtCDOM
3872 Botticelli StCondo$289,900$293,0001171124
16250 Pacific Hwy #59Condo$319,000$319,0001,3059
5225 Jean Rd #510Condo$305,000$335,00011005
750 1st St E34Condo$335,000$335,00013503
16250 Pacific Hwy #73Condo$319,000$341,000130587
18667 Benfield AveDetached$485,000$529,00014145
17104 Canal CircleDetached$650,000$625,000141636
1427 Greentree CircleDetached$605,000$650,00022395
17160 Wall StDetached$850,000$888,00032462
2145 Summit DrDetached$1,000,000$1,000,000311148
4146 Chad DrDetached$1,099,900$1,030,0003637143
54 Wilbur StAttached$1,247,000$1,170,000360079
18460 Ray Ridge DrDetached$1,249,000$1,224,000376934
72 Nansen SummitDetached$1,369,000$1,240,00044857
978 10th StDetached$1,495,000$1,400,000257825
3175 Douglas CircleDetached$1,425,000$1,500,00054003
13594 Goodall RdDetached$1,700,000$1,700,00037320
16470 Phantom Bluff CtDetached$2,695,000$2,684,515518811

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

News & Notes ~ Jan 2021 Numbers

Overview/Fluctuations ~  Portland Area Market Data Jan 2021: 

The big story in January is that our Inventory increased from .8 to 1.0 months of supply. If you  think that’s not much, you’re right! We continue to be at record lows in available homes. Last year in January we had 2.2 months of Inventory, which was low. The previous year (Jan 2019) we had 3.3 months of Inventory. So, the field is still competitive out there which means it is a terrific time to sell a home and if you’re buying, rates are still low hovering around 3.125, so better not to wait!

According to the RMLS Market Action Report  for the Portland Metro Area, Jan. 2021:

  • There were 2,579 New Listings in Jan 2021 decreased  6.4% from Jan of 2020’s 2,754, and increased 48.2% from the previous month/Dec’s 1,740.
  • At 1,847, Jan 2021’s Closed Sales are up 11.1% from Jan 2020’s 1,663, and down 33.8% from the previous month/Dec 2020’s total of 2,789
  • At 2,496, Jan 2021’s Pending Sales are up 9.9% from Jan 2020’s 2,271, and also up 24.6% from the previous month/Dec 2020’s total of 2,003.
  • The Average Sale Price in Jan 2021 of $514,700 is up $51,700 from last year/Jan 2020’s $463,000, and up $700. from the previous month/Dec 2020’s $514,000.   
  • The “Median” Sale Price  (the price smack dab in the middle of all sales) in Jan 2021 of $460,000 rose from last year/Jan 2020’s $406,000 by $54,000, and decreased 5,000 from the previous month/Dec 2020’s $455,000

LAKE OSWEGO

The combined areas of Lake Oswego and West Linn  for  the month of January 2021 reported:

  • 84 Active Listings (Dec 114)
  • 112 New Listings    (Dec 73)
  •  121 Pending Sales (Dec 110)
  •   92 Closed Sales    (Dec 137)
  • Average Sale Price for Jan: $812,700  (Dec $845,700)
    • 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.
  •  46 Average Days on the Market   (Dec 60)

Market Activity ~ Feb 8-14, 2021

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

NEW Feb 8-14, 2021

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

PENDING Feb 8-14, 2021

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

SOLD Feb 8-14, 2021

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

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

Market Activity ~ Jan 25-31, 2021

We logged 4 New Listings, 21 (not bad for a rainy week) moving to Pending status, and 6 Properties Sold/Closed last week. Here’s the breakdown according to RMLS data:

NEW Jan 25-31, 2021

AddressList Price# Beds# BathsTotal SFProp Type
4580 TRILLIUM WOODS$739,90032.11992ATTACHD
1920 Park Forest AVE$1,125,000332679DETACHD
1483 WOODLAND TER$1,199,999543135DETACHD
1870 TWIN POINTS RD$2,895,00044.14649DETACHD

PENDING Jan 25-31, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
16250 PACIFIC HWY  #50$284,000221305CONDO2
16250 PACIFIC HWY  #73$319,000221305CONDO87
16250 PACIFIC HWY  #59$319,000221305CONDO9
750 1ST ST,  E34$335,000221350CONDO3
18667 SW BENFIELD AVE$485,000421414DETACHD5
1790 CONIFER DR$524,900211003DETACHD13
28 AQUINAS ST$529,000321960DETACHD6
17095 WESTVIEW DR$649,000433356DETACHD90
4361 SOUTHSHORE BLVD$819,000432441DETACHD75
1780 YARMOUTH CIR$845,00032.12307DETACHD0
17596 GREEN BLUFF DR$959,90042.13039DETACHD75
5900 SUNCREEK DR$999,00052.13942DETACHD4
3600 PIPER CT$1,050,00053.14549DETACHD4
19125 35TH PL$1,114,90044.15153DETACHD257
2120 GLENMORRIE DR$1,298,00053.14293DETACHD115
639 CARRERA LN$1,350,00043.14447DETACHD16
312 9TH ST$1,350,00032.12686DETACHD103
3175 DOUGLAS CIR$1,425,00043.25400DETACHD3
13701 KNAUS RD$1,849,00054.15730DETACHD2
14080 GOODALL RD$2,095,00064.26005DETACHD23
1340 CHERRY LN$2,145,00044.25922DETACHD9

SOLD Jan 25-31, 2021

AddressOpening PriceClosed Price# Beds# BathsTotal SFProp TypeCDOM
5859 KENNYCROFT WAY$499,900$511,00031.11205DETACHD4
1599 OAK ST$664,900$655,00042.12468DETACHD31
4584 TRILLIUM WOODS$739,900$715,00032.12179ATTACHD44
18064 JENIFERS WAY$930,000$895,000532965DETACHD44
6429 Mission CT$1,165,000$1,184,00043.13182DETACHD277
16337 CHAPIN WAY$2,599,000$2,270,00054.15115DETACHD71

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 Jan 18-24, 2021

The real estate market is really heating up. Buyers are out in hordes wanting to take advantage of the lowest interest rates in decades. They have gotten themselves pre-approved and are ready to go. The issue is, inventory is incredibly low. For every property that comes on the market, there are half a dozen buyers ready to buy. The result? Houses are selling fast, often with multiple offers. It is very much a sellers market. With multiple offers houses are frequently selling at or over the list price. So yes, this late winter and spring market truly is an amazing time to sell your house.

In Lake Oswego last week we had 6 properties come onto the market, 12 move into pending status with an accepted offer, and 16 closed sales.

See below for RMLS data and an explanation of this chart.

New on the Market Jan 18-24, 2021

AddressTypePriceBRBathsSq Ft
16250 Pacific Hwy #59Condo$319,000221305
2574 Palisades Crest DrDetached$975,00042.5+.54563
17311 Canyon DrDetached$1,099,500635376
667 Lake Bay CtDetached$1,899,90043.53616
1340 Cherry LnDetached$2,145,00044.5+.55922
16470 Phantom Bluff CtDetached$2,695,00044.55188

Pending sales Jan 18-24, 2021

AddressTypePriceBRBathsSq FtCDOM
5225 Jean Rd #510Condo$305,0002211005
456 5th StCondo$450,00021.510921
1238 Laurel StDetached$524,9003214852
1920 Southshore BlvdDetached$569,9003213138
6126 Frost LnDetached$749,0005324979
4264 West Bay RdDetached$799,0003213082
4850 Lower DrDetached$825,00043270011
2145 Summit DrDetached$1,000,00042.5+.5311148
975 Schukart LnDetached$1,198,00042.54449350
16234 Waluga DrDetached$1,349,00053.5313086
701 4th StDetached$1,450,00032.5278643
3735 Upper DrDetached$2,000,000444056137

Closed/Sold Jan 18-24, 2021

AddressTypeList PriceSold PriceSq FtCDOM
42 Cervantes CircleCondo$189,000$185,0009124
7200 Montauk CircleCondo$219,900$228,0009683
47 Eagle Crest Dr #62Condo$249,000$233,000102677
668 McVey Ave #85Condo$274,900$290,0009924
4047 Jefferson PkwyCondo$330,000$346,00012281
27 Bloch TerrAttached$425,000$442,00019723
15012 Twin Fir RdDetached$599,900$610,0003372
18861 Indian Springs CircleDetached$635,000$645,00016492
17012 Crestview DrDetached$699,000$699,00027504
5228 Lower DrDetached$850,000$839,9502723101
802 Clara CtDetached$850,000$875,00028863
3000 Brookside RdDetached$999,950$950,000160050
6 Essex CtDetached$998,000$998,000433842
5055 Lakeview BlvdDetached$1,298,000$1,245,000360728
1200 Lake Garden CtDetached$1,400,000$1,400,000334716
3509 Lanewood StDetached$1,799,000$1,790,9003830114

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

News & Notes ~ Dec 2020 Year-End Report

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

Overview/Fluctuations ~  Market Data Dec 2020:                                    

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

The twelve months of 2019 compared to 2020:

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

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

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

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

LAKE OSWEGO:

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

  •  114 Active Listings (Nov 177) (Dec 2019: 223)
  • 73 New Listings     (Nov 104) (Dec 2019: 50)
  •  110 Pending Sales  (Nov 106) (Dec 2019: 70)
  •  137 Closed Sales    (Nov 166) (Dec 2019: 107)
  • Average Sale Price for Dec: $845,700  (Nov $822,000) (Dec 2019: $732,400)
    • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
  •  60 Average Days on the Market   (Nov 50)

Market Activity ~ Jan 11-17, 2021

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

NEW Jan 11-17, 2021

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

PENDING Jan 11-17, 2021

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

SOLD Jan 11-17, 2021

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

Market Activity ~ Dec 14, 2020-Jan3, 2021

Welcome to 2021!

Dianne and I hope this finds you well and happy, and that you and yours have been able to enjoy some cozy holiday time.

Now we’re moving into 2021. Our report this week is covering the 3-week period during the holidays. Only 3 properties braved entering the market during that time, and/but 32 properties moved into Pending status, and a whopping 48 Sold/Closed.

Here’s the breakdown for you:

NEW Dec 14, 2020-Jan 3, 2021

AddressList Price# Beds# BathsTotal SFProp Type
45 EAGLE CREST DR  #210$199,00011780CONDO
72 NANSEN SMT$1,369,00042.14485DETACHD
14080 GOODALL RD$2,395,00054.26005DETACHD

PENDING Dec 14, 2020-Jan 3, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
45 EAGLE CREST DR  #212$179,00011780CONDO90
7200 SW MONTAUK CIR / Grnd$219,90021968CONDO3
4606 LOWER DR / Upper$260,00021.11170CONDO32
4000 CARMAN DR  #79$270,00022993CONDO53
3812 BOTTICELLI ST$319,995321194CONDO41
4047 JEFFERSON PKWY$330,00032.11228CONDO1
2061 BONNIEBRAE DR$397,50032.11687ATTACHD27
5 SUMMIT RIDGE CT$415,00022.11576ATTACHD101
43 ORIOLE LN$475,000221810DETACHD78
937 COUNTRY CLUB RD$478,400211650DETACHD91
5859 KENNYCROFT WAY$499,90031.11205DETACHD4
18964 REDWING WAY$549,95031.11406DETACHD24
18150 BRYANT RD$590,000321468DETACHD8
4380 DOUGLAS WAY$599,950321364DETACHD62
3595 UPPER DR$629,000421725DETACHD4
17012 CRESTVIEW DR$699,000542750DETACHD4
4584 TRILLIUM WOODS$724,90032.12179ATTACHD44
151 C AVE$775,00022.11934ATTACHD112
4890 SAGE HEN CIR$789,90042.12832DETACHD74
252 GREENWOOD RD$824,900523834DETACHD5
5228 LOWER DR$839,95032.12723DETACHD101
5590 LUCE LN$950,000543374DETACHD6
6 ESSEX CT$998,000444338DETACHD42
2591 PALISADES CREST DR$1,160,00032.14916DETACHD110
6407 MISSION CT$1,239,00043.13623DETACHD1
18460 RAY RIDGE DR$1,249,00042.13769DETACHD34
18024 EASTRIDGE LN$1,289,00053.13781DETACHD580
1200 LAKE GARDEN CT$1,295,000433347DETACHD16
17680 Stafford RD$1,299,00052.13804DETACHD185
978 10TH ST$1,449,000332578DETACHD25
1111 C AVE$1,469,00043.13354DETACHD
3509 LANEWOOD ST$1,800,000443830DETACHD114

SOLD Dec 14, 2020-Jan 3, 2021

AddressOpening PriceClosed Price# Beds# BathsTotal SFProp TypeCDOM
44 EAGLE CREST DR  #17$199,900$185,00011798CONDO16
200 BURNHAM RD  #303$257,000$242,132211200CONDO144
20 CERVANTES CIR$290,000$260,00021.1912CONDO30
45 EAGLE CREST DR  #100$295,000$280,000321537CONDO18
71 CONDOLEA WAY$425,000$415,000332131CONDO88
1402 PARRISH ST$469,000$445,00032.11863CONDO83
13679 JOHNSON TER$515,000$514,86021917DETACHD6
14402 SHERBROOK PL$530,000$515,00032.11976DETACHD43
6270 Shakespeare ST$495,000$527,000311009DETACHD3
4362 GALEWOOD ST$558,000$543,00032.11684DETACHD25
69 CONDOLEA TER$555,000$549,65022.12262CONDO100
29 WALKING WOODS DR$579,900$579,900322311DETACHD71
5204 ROSEWOOD ST$599,000$621,00032.11683DETACHD3
621 9TH ST$649,000$654,000222214DETACHD11
14 INDEPENDENCE AVE$684,900$660,000533296DETACHD191
17950 MEADOWLARK LN$649,000$675,000532727DETACHD97
18863 INDIAN SPRINGS RD$699,900$700,000432001DETACHD2
1227 ASH ST$700,000$717,000322151DETACHD4
9 SPINOSA$725,000$725,00022.12250DETACHD29
19 WESTRIDGE DR$765,000$745,00042.13711DETACHD28
2395 GREENTREE RD$779,900$750,00052.12777DETACHD15
5722 SOUTHWOOD DR$765,000$776,00042.12919DETACHD3
619 CLARA CT$789,000$789,00042.12958DETACHD0
2765 GLEN HAVEN RD$749,900$790,00042.12277DETACHD5
5338 ROYAL OAKS DR$819,000$800,00042.12720DETACHD67
20 Nansen Summit$749,900$800,00043.13768DETACHD2
13456 PROVINCIAL HILL WAY$840,000$805,00032.13071DETACHD69
6435 MCDUFF CT$975,000$890,00053.13424DETACHD65
14218 KIMBERLY CIR$916,500$899,50042.13272DETACHD22
5239 MADRONA ST$885,000$905,000332881DETACHD4
49 HILLSHIRE DR$939,900$915,00043.14268DETACHD113
17215 LOWENBERG TER$995,950$925,00042.12934DETACHD89
2934 TOLKIEN LN$974,800$985,00053.13851DETACHD11
1816 PALISADES LAKE CT$1,200,000$1,025,00032.14598DETACHD104
16791 SYLVAN CT$1,075,000$1,100,00053.14137DETACHD1
2148 Summit DR$1,295,000$1,157,50052.13883DETACHD104
13768 KNAUS RD$1,180,000$1,200,000322480DETACHD4
18375 RIVER EDGE LN$1,185,000$1,265,00042.13512DETACHD51
3131 WEMBLEY PARK RD$1,395,000$1,325,00043.13597DETACHD147
18020 MEADOWLARK LN$1,350,000$1,345,000544217DETACHD4
629 5TH ST$1,475,000$1,365,00042.12985DETACHD64
14005 GOODALL RD$1,800,000$1,500,00043.14809DETACHD207
490 G AVE$1,450,000$1,507,60043.12977DETACHD1
16877 CANYON DR$1,629,900$1,633,086443771DETACHD21
16881 CANYON DR$1,629,900$1,636,986443854DETACHD4
527 NORTHSHORE RD$1,800,000$1,744,000322433DETACHD20
1037 LAKE FRONT RD$2,100,000$2,100,000332700DETACHD0
961 TERRACE DR$2,899,000$2,460,00054.26016DETACHD213

Market Activity Dec 7-13, 2020

Last week in Lake Oswego sales remainded strong. 24 houses received offers that were accepted and 18 properties sold with finalized sales. New inventory remained low at just 6 new listings.

See below for RMLS details

New on the Market Dec 7-13, 2020

AddressTypePriceBRBathsSq Ft
47 Eagle Crest Dr #50Condo$210,00021932
18964 Redwing WayDetached$549,95031.51406
6126 Frost LnDetached$765,000532497
252 Greenwood RdDetached$824,900523834
5513 Rachel LnDetached$1,049,00042.53335
701 4th StDetached$1,499,00032.52885

Pending Sales Dec 7-13, 2020

AddressTypePriceBRBathsSq FtCDOM
30 Oswego SummitCondo$198,5001170078
750 1st St #26Condo$350,00022135020
16191 Lake Forest BlvdDetached$424,999318644
16342 Kimball StDetached$495,00031.512506
1225 Lee StDetached$511,00031.510561
14150 Goodall RdDetached$525,0003217453
1101 Hemlock SStDetached$574,90032.5221326
4380 Douglas WayDetached$599,95032136419
18861 Indian Springs CircleDetached$635,0003216492
15677 Fieldstone DrDetached$688,00032.52527156
4984 Bilford LnDetached$725,00032.5262935
2679 Glen Eagles RdDetached$729,9003323786
1771 Campus WayDetached$738,0003332773
2765 Glen Haven RdDetached$749,90042.522775
6123 Frost LnDetached$759,90042.5233121
803 Clara CtDetached$850,0004328863
17970 Meadowlark LnDetached$899,0004336401
18064 Jenifers WayDetached$899,90053296544
17596 Green Bluff DrDetached$959,90042.5303926
5055 Lakeview BlvdDetached$1,298,00043.5360728
961 Terrace DrDetached$2,495,00054.5+.5601696
1287 Cherry LnDetached$2,595,00054.55212110
2950 Lakeview BlvdDetached$2,750,00043.54299190
16649 Maple CircleDetached$2,969,000432714113

Closed/Sold Dec 7-13, 2020

AddressTypeList PriceSold PriceSq FtCDOM
48 Eagle Crest 5ECondo$269,000$249,0001442103
16250 Pacific Hwy #77Condo$289,900$259,0001,327257
3433 McNary Pkwy #804Condo$269,900$260,0001136103
65 Oswego SummitCondo$274,900$260,00011404
4107 Jefferson PkwyCondo$329,000$325,000150732
5626 Fernbrook WayDetached$511,000$489,000125059
17020 Denny CtDetached$650,000$525,0001704150
17297 Bryant RdDetached$575,000$550,000142811
13 Walking Woods DrDetached$515,000$556,00021304
17879 Hillside DrDetached$849,999$630,0003149271
18225 SW 65th AveDetached$799,000$747,000221037
3125 Alber Sring CtDetached$1,198,000$1,0654308195
16291 Bonaire AveDetached$1,096,660$1,09632400
6441 Mission CtDetached$1,165,000$1,165320124
3920 Upper DrDetached$1,595,000$1,4253800$115
15532 Village DrDetached$1,599,000$1,545344647
4165 Childs RdDetached$1,549,000$1,549331011
15607 Village DrDetached$2,589,000$2,2005407525

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

News & Notes ~ Nov 2020 Numbers

Here is your look at the most recent data for the entire Portland area (Nov2020) and how Lake Oswego fits in to this picture just below.

Overview/Fluctuations ~  Market Data Nov 2020:                                  

Inventory is now at 1.0 months of supply here, locally. The lowest it’s ever been. All forecasts are for continued increases in home sales and prices, though more modestly than 2020. Prediction #’s vary among economists. National Association of Realtors (NAR) is predicting a 7.3% increase in sales  nationally in 2021. Interest rates are still hovering around 2.875% but are expected to rise, albeit not dramatically. One very interesting item I noted from the NAR information is that nationally,  1 in 6 home purchases is now “multi-generational”. So, how we live is changing in many ways:  People are looking for more space to work from home, and generations are moving in together. There is generally more up-sizing than down-sizing going on.

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

  • There were 2,238 New Listings in Nov 2020 increased 5.7% from Nov of 2019’s 2,118,  and decreased a whopping 36.3% from the previous month/Oct’s 3,515.
  • At 2,745, Nov 2020’s Closed Sales are up 12.4% from Nov 2019’s 2,191, and decreased 13.0% from the previous month/Oct 2020’s total of 3,155
  • At 2,557, Nov 2020’s Pending Sales are up 12.4% from Nov 2019’s 2,274, and dropped 20.1% from the previous month/Oct 2020’s total of 3,199.
  • The Average Sale Price in Nov 2020 of $521,200 is up $58,600 from last year/Nov 2019’s $462,600, and is up $4,700 from the previous month/Oct 2020’s $516,500.   YTD increase is 7.1%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Nov 2020 of $457,000 rose from last year/Nov2019’s $415,000 by $42,000, and decreased $3,000 from the previous month/Oct 2020’s $460,000. YTD increase is 6.8%.

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

  • North Portland:  $480,600              6.2%   (Oct $450,300) YTD Median: $431,000
  • NE Portland:  $508,700                    5.0%   (Oct $531,200) YTD Median: $455,000
  • SE Portland:  $478,200                    8.1%   (Oct $477,300) YTD Median: $409,000
  • Gresham/Troutdale:   $425,200    5.2%   (Oct $412,900) YTD Median: $378,000
  • Milwaukie/Clackamas: $510,700 7.7%   (Oct $512,100)  YTD Median: $450,000
  • Oregon City/Canby:   $506,300    6.5%  (Oct $511,300) YTD Median: $440,500
  • Lake Oswego/W Linn:$822,000 10.9%  (Oct $756,600) YTD Median: $645,000
  • West Portland:    $650,400              5.1%   (Oct $685,900) YTD Median: $550,000
  • NW Wash County:  $578,900        6.2%  (Oct $595,600) YTD Median: $527,500
  • Beaverton/Aloha:     $449,100        5.2%  (Oct $451,200)  YTD Median: $417,000
  • Tigard/Wilsonville:   $528,200       9.5%  (Oct $516,700) YTD Median: $479,000
  • Hillsboro/Forest Grove: $444,400 5.6%  (Oct $445,600)YTD Median: $410,000

LAKE OSWEGO:

  • The combined areas of Lake Oswego and West Linn  for  the month of November 2020 reported:
    •  177 Active Listings (Oct 213)
    •  104 New Listings     (Oct 197)
    •  106 Pending Sales   (Oct 193)
    •  166 Closed Sales       (Oct 173)
    • Average Sale Price for Nov: $822,000  (Oct $756,600)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  50 Average Days on the Market   (Oct 59)