Property Blotter

November 17, 2024November 17, 2024

Portland Area Oct 2024 Stats + LO

Here is your breakdown from the previous month, October, for Portland and surrounding areas including LO broken out at the bottom. ***Be sure to check out the Neighborhood Report which categorizes down into smaller pieces.

Overview/Fluctuations ~ October 2024 Market Data:

The Portland area is humming along, though Fall is a slower market traditionally as people enter the “Black Hole of the Holidays”. This year we were impacted with higher than expected rates & many holding off amidst election uncertainty to proceed in 2025 afresh. So, we are seeing a lot of Sellers removing their homes from the market & deciding to re-list in the Spring or after the first of the year. All that said, Closed Sales rose from both October 2023 & 2024, so perhaps that was a burst of Offers accepted right after the hotly anticipated/ultimately disappointing (for immediate mortgage rate relief) Fed rate cut on Sept 18^th? Average Sale Price on the whole was down due to Buyer pressure as well.

According to the RMLS Market Action Report for the Portland Metro Area October 2024:

There were 2,283 New Listings in October which is up 3.4% from the 2,207 in Oct 2023 and down 11.8% from the 2,589 in the previous month/Sept.
At 1,975 Oct 2024’s Closed Sales (Solds) are up 18.3% from Oct 2023’s 1,670 and up 16.0% from the previous month’s total of 1,702.
At 2,018 Oct 2024’s Pending Sales (Accepted Offers) increased 24.2% from Oct 2023’s 1,625, and decreased 2.8% over the previous month/Sept’s total of 2,076.
The Average Sale Price for October 2024 of, $604,200 is up$11,500. from last year/Oct 2023’s $592,700, and down $13,000 (!!) from the previous month/Sept’s $617,200.
The “Median Sale Price (the price smack dab in the middle of all sales) in Oct 2024 of $540,000 is up $15,000 over Oct 2023’s $525,000, and less by $1,000 than Sept’s $541,000.

LAKE OSWEGO: (Month of October ’24)

305 Active Listings (Sep 325)
108 New Listings (Sep 123)
90 Pending Sales (Sep 100)
93 Closed Sales (Sep 86)
Average Sale Price for Oct: $1,103,400 (Sep $1,152,900)
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.
67 Days on the Market (Sep 48)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS)

November 16, 2024November 16, 2024

Market Activity ~ Nov 4-10, 2024

Last week there were 10 properties entering the market, 10 that moved to Pending status, and 7 that Closed/Sold. Right now there are 204 properties available ranging from $169,900 to $10,500,000.

Here is the breakdown:

NEW Nov 4-10, 2024

Address	List Price	Beds	Baths	SF	Prop Type
750 1ST ST, #E31	$285,100	1	1	902	CONDO
48 EAGLE CREST DR, #2E	$399,900	3	2	1623	CONDO
1349 BONNIEBRAE DR	$485,000	3	1.1	1303	ATTACHD
1803 BOCA RATAN DR	$650,000	3	2.1	1780	ATTACHD
5050 LOWER DR	$735,000	3	2.1	1278	DETACHD
17291 CEDAR RD	$1,049,000	5	4.1	2872	DETACHD
213 HIDALGO ST	$1,075,000	4	3.1	4088	DETACHD
840 8TH ST	$1,100,000	4	3	1920	DETACHD
17010 CHAPIN WAY	$1,599,900	4	3.1	4032	DETACHD
688 6TH ST	$2,335,000	4	2.1	2939	DETACHD
13962 Knaus RD	$5,195,000	5	4.2	5404	DETACHD

PENDING Nov 4-10, 2024

Address	List Price	Beds	Baths	SF	Prop Type	Days
4 Touchstone, #110	$270,000	2	2	989	CONDO	6
16250 PACIFIC HWY, b#71	$299,000	2	2	1305	CONDO	543
512 S STATE ST, #512	$300,000	1	1	829	CONDO	20
146 OSWEGO / Upper	$309,900	2	2	1212	CONDO	212
4 TOUCHSTONE, #77	$324,999	3	2.1	1351	CONDO	179
16200 Pacific Hwy, #2	$525,000	2	2	1190	CONDO	54
6238 McEwan RD	$595,000	3	1	1170	DETACHD	23
4261 COUNTRY WOODS CT	$725,000	2	2	1608	DETACHD	18
18560 WESTVIEW DR	$1,200,000	5	2.1	3411	DETACHD	155
3159 DOUGLAS CIR	$1,850,000	6	4.1	4571	DETACHD	190

SOLD/CLOSED Nov 4-10, 2024

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
100 KERR PKWY, #8	$182,950	$159,900	1	1	617	CONDO	25
100 KERR PKWY, #36	$219,000	$180,000	1	1	617	CONDO	155
13 MORNINGVIEW CIR	$899,500	$820,000	3	2.1	2519	DETACHD	154
23 BECKET	$950,000	$920,000	5	4	4478	DETACHD	3
2004 RIDGEWOOD LN	$1,150,000	$1,075,000	3	2.1	2631	DETACHD	77
840 8TH ST	$1,100,000	$1,100,000	4	3	1920	DETACHD	0
18320 DELENKA LN	$1,300,000	$1,240,000	4	2.1	4519	DETACHD	89

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) .

November 9, 2024

Rassekh Skate Park is now Open

As of this month, not only is the skate park open, but so is the parking lot and the restrooms. If you are not in the area, you may not have seen all of the construction happening along Stafford Road between the City Golf Course and Rosemont Rd. The skate park is just one component of this development: the others being a new municipal pool and a large rec center. The skate park is step #1.

More exciting news is that this fall the City was awarded a $1 million matching grant from the Oregon Parks and Recreation Department Local Government Grant Program to fund construction of a play ground and picnic shelter adjacent to the skate park. The goal is to complete these by the summer of 2025.

The skate park is formally known as Rassekh Park. These are wonderful improvements to our community. The combination of skate park, playground and picnic shelter sounds like an ideal place to take the kiddos to work off some of that energy. Enjoy!

Dianne

November 7, 2024

Market Activity Oct 28-Nov 3, 2024

Closed sales and pending sales are holding strong with 16 closed sales and 12 pending sales in Lake Oswego last week. This is a reflection of folks being motivated to get into their new home before the holidays. Active listings have dropped off to just 6. One of those sold quickly and appears in this report as a pending sale.

See below for RMLS data.

New Listings Oct 28-Nov 3, 2024

Address	Type	Price	Bedrooms	Baths	Sq Feet
4 Touchstone #110	Condo	$270,000	2	2	989
5061 Foothills Dr B	Condo	$419,000	2	2	1077
5722 Fernbrook Way	Detached	$715,000	3	2	1580
333 6th St	Detached	$2,325,000	4	3.5	3605
1289 Chandler Rd	Detached	$5,100,000	4	4.5+.5	5451

Pending Sales Oct 28-Nov 3, 2028

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
5 Crestfield Ct	Condo	$285,000	2	1	921	16
6313 Alyssa Ter	Attached	$499,000	3	2.5	1534	58
5320 Chinook Ct	Detached	$575,000	3	1.5	1008	97
1277 Hallinan Cir	Detached	$649,000	3	2	1242	6
1471 Greentree Cir	Detached	$899,900	4	2.5	2128	91
4737 Lakeview Blvd	Detached	$949,000	4	2.5	2673	50
5364 Denton Dr	Detached	$1,250,000	4	2.5	3143	3
18440 Delenka Ln	Detached	$1,350,000	4	3.5	4696	28
5464 Southwood Dr	Detached	$1,450,000	5	3	3687	16
14260 Uplands Dr	Detached	$1,595,000	4	3	2924	2
3131 Westview Ct	Detached	$1,899,996	4	4.5	4597	52
17575 Crestline Dr	Detached	$3,898,000	5	4.5+.5	7240	85

Sold/Closed Oct 28-Nov 3, 2024

Address	Type	List Price	Closed Price	Sq Feet	CDOM
100 Kerr Pkwy #24	Condo	$207,000	$150,000	617	46
4000 Carman Dr D57	Condo	$319,900	$291,000	836	7
5061 Foothills Dr #87	Condo	$419,000	$400,000	991	8
5225 Jean Rd #501	Condo	$445,000	$440,000	1500	8
16538 Carnegie Ave	Detached	$589,900	$520,000	1189	41
5512 Childs Rd	Detached	$729,900	$604,000	1928	224
6355 Dawn St	Detached	$625,000	$610,000	1268	113
27 Oriole Ln	Detached	$675,000	$650,000	1851	33
5437 Heritage Ln	Detached	$775,000	$759,000	1619	62
18434 Sandpiper Cir	Detached	$824,900	$824,900	1849	7
3853 Carman Dr	Detached	$1,075,000	$1,088,094	2531	5
5651 La Mesa Ct	Detached	$1,170,000	$1,175,000	2718	1
1507 Cedar St	Detached	$1,249,000	$1,200,000	2590	21
10 Sherwood Ct	Detached	$1,575,000	$1,320,000	3289	116
2990 Glen Eagles Rd	Detached	$1,495,000	$1,500,000	3787	3
17160 Wall St	Detached	$1,899,000	$1,799,000	3305	86

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

November 6, 2024November 6, 2024

A Word From Our Mayor

Today we awake in the same great community we fell asleep in. Over our history as a community we’ve consistently demonstrated our ability to come together, lead by example, respectfully engage in civil dialogue and care for one another as neighbors. We’re a community of mixed political beliefs but many shared values, and today, just like every day, our neighbors are counting on us to continuing supporting one another as we make Lake Oswego a community every resident feels safe and at home in, where we enhance the natural environment for future generations, where local businesses can thrive and where our kids receive an incredible education.

I’m grateful to Lake Oswego voters for another term as your mayor. In that role my first priority is to ensure our community is safe and healthy for everyone in it. The impact we all have locally from the love we hold for our City and one another as neighbors transcends any national rhetoric meant to divide and instill fear. As Oswegans we stand united behind ensuring a positive future for our City, in protecting every one of our neighbors and in standing up for what’s right and just. I look forward to walking hand and hand with you all and my colleagues on the City Council as we work toward many more shared accomplishments in the years ahead! Congratulations to Councilors Mboup, Verdick and Rapf on their re-elections and to State Rep. Daniel Nguyen on his! Our community has good people representing it thanks to you all as voters.

Joe Buck, 11/6/24

November 3, 2024November 3, 2024

It’s Election Time!!!

Every four years we get to participate in this awesome privilege and responsibility of voting for President of the United States, along with many other important local and national choices. Lake Oswego makes it simple with Ballot Box drop-off sites available for easy submission. Here in Oregon we get an email letting us know that our ballot was received and counted. It’s important. Get out and Vote!!

Here is a link to Ballot Box location options: CLICK HERE

November 2, 2024November 3, 2024

Market Activity ~ Oct 21-27, 2024

Last week Lake Oswego had 13 properties enter the market, 12 move to ending status and 12 that Closed/Sold. Right now there are 213 properties available ranging from $180,000 to $8,800,000.

Here is the breakdown:

NEW Oct 21-27, 2024

Address	List Price	Beds	Baths	SF	Prop Type
45 EAGLE CREST DR #204	$245,000	1	1	768	CONDO
4640 LOWER DR / Upper	$375,000	2	1.1	1170	CONDO
52 GREENRIDGE CT	$599,000	3	2.2	2524	ATTACHD
1277 HALLINAN CIR	$649,000	3	2	1242	DETACHD
16643 SW ROOSEVELT AVE	$650,000	4	2	2222	DETACHD
1640 ASPEN ST	$740,000	4	3	2218	DETACHD
5363 GREYSTOKE DR	$759,000	3	2	1541	DETACHD
4322 COLLINS WAY	$820,000	5	3	2112	DETACHD
4582 TRILLIUM WOODS	$849,900	3	2.1	1927	ATTACHD
5364 DENTON DR	$1,250,000	4	2.1	3143	DETACHD
4114 CASEY CT	$1,425,000	4	2.1	3405	DETACHD
16878 CANYON DR	$1,499,000	4	2.1	2750	DETACHD
3159 DOUGLAS CIR	$1,850,000	6	4.1	4571	DETACHD

PENDING Oct 21-27, 2024

Address	List Price	Beds	Baths	SF	Prop Type	Days
141 Oswego Summit / Upper	$270,000	2	2	1140	CONDO	207
4055 JEFFERSON PKWY	$349,900	2	2.1	1210	CONDO	46
5325 OAKRIDGE RD	$550,000	4	2	1201	DETACHD	5
2818 POPLAR WAY	$575,000	3	1	1056	DETACHD	268
3492 DEVONSHIRE DR	$589,000	3	2.1	1556	ATTACHD	5
6336 FROST ST	$795,000	4	3	2200	DETACHD	7
23 TANGLEWOOD DR	$799,900	5	2.1	2522	DETACHD	52
19 CHURCHILL DOWNS	$899,500	4	3	2175	DETACHD	34
16904 GREENTREE AVE	$920,000	4	3	3356	DETACHD	58
111 LADD ST	$1,250,000	3	2.1	2303	DETACHD	46
2065 LILLI LN	$1,750,000	6	3.1	4457	DETACHD	75
159 5TH ST	$2,198,000	4	2.1	2960	DETACHD	27

SOLD Oct 21-27, 2024

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
16500 LAKE FOREST BLVD	$549,900	$549,900	3	1	960	DETACHD	9
19251 INDIAN CREEK AVE	$750,000	$705,000	3	2	1551	DETACHD	96
17681 LEAFY LN	$775,000	$735,000	5	3	2242	DETACHD	19
1701 WOODLAND TER	$887,000	$902,000	3	2.1	2729	DETACHD	6
1272 HIDE A WAY CT	$1,150,000	$1,025,000	4	3	1816	DETACHD	91
17749 LEAFY LN	$1,219,000	$1,100,000	4	3	3266	DETACHD	106
5552 YORKSHIRE PL	$1,150,000	$1,150,000	4	2.1	2637	DETACHD	9
3672 TEMPEST DR	$1,295,000	$1,230,000	3	3	3317	DETACHD	59
1920 PARK FOREST AVE	$1,379,000	$1,300,000	3	3	2869	DETACHD	56
13869 AMBERWOOD CIR	$1,597,500	$1,575,000	4	2.1	3405	DETACHD	24
17309 WESTVIEW DR	$2,395,000	$1,937,000	4	3.1	3973	DETACHD	144
4340 Lakeview BLVD	$4,750,000	$3,950,000	5	4.1	4191	DETACHD	133

October 26, 2024October 26, 2024

Plan Ahead for a very Trolley Holiday

Riding the Willamette Shore Trolley is a lot of fun. It runs on an old rail line from 313 N State Street in Lake Oswego to Bancroft Street in the South Waterfront in Portland. Round trip takes approximately 90 minutes.

I celebrated my Mom’s birthday on the Trolley several years ago. We brought along a picnic and turned it into an event.

Yesterday, while having lunch at Dang’s on State Street, I saw the Trolley go by. Here I had thought that the 2024 Trolley season was over. Turns out, it’s not.

There are 4 special Trolley events still happening. The first on is today and tomorrow (Oct 26 and 27), Fall Colors Trolley Trips. At noon and 2pm, fares are just $10.

At Christmas there is Fa La La Trolley, a Trolley ride for those who enjoy caroling. The Tinseltown Trolley is being organized by Lake Oswego Parks and Rec and may include a visit from Santa. Last, on December 10th, 13th, 17th, 19th and 21st, the Trolley will run to allow viewing of the Christmas Ship Parade on the Willamette River.

Plan ahead to participate because tickets are sold on a first-serve, first-come basis. For ticket information, click here.

Halloween my be just around the corner, but the holidays are not far behind. Enjoy!

Dianne

October 25, 2024

Market Activity Oct 14-20, 2024

New listings had a pretty big bump up last week with 20 new properties coming onto the market. It had me wondering why. There are two thoughts that come to my mind. First, many corporations align their fiscal year with the calendar year. Listing a property now will allow them to, hopefully, write off the costs associated with relocating an employee and writing it off in this fiscal year. My other thought is that people in general prefer to move before the holidays fully take over their lives. In any case, that’s a pretty bump from the dozen or so new listings that we’ve been seeing for sometime now.

There were 8 properties that moved to pending status and 13 closed sales.

See below for RMLS data.

New Listings Oct 14-20, 2024

Address	Type	Price	Bedrooms	Baths	Sq Feet
100 Kerr Pkwy #47	Condo	$190,000	1	1	617
29 Oswego Summit	Condo	$209,000	1	1	669
44 Eagle Crest Dr #15	Condo	$220,000	1	1	798
44 Eagle Crest Dr #21	Condo	$225,000	1	1	798
5 Crestfield Ct	Condo	$299,900	2	1	921
5058 Foothills Dr F	Condo	$424,800	2	2	1370
18538 Hallberg Ct	Detached	$575,000	3	1	870
3492 Devonshire Dr	Attached	$589,000	3	2.5	1556
6238 McEwan Rd	Detached	$595,000	3	1	1170
26 Greenridge Ct	Attached	$625,000	3	2.5	1996
1368 Boca Ratan Dr	Attached	$629,000	3	2	1611
1212 Laurel St #9	Detached	$678,000	33	2	1644
4261 Country Woods Ct	Detached	$725,000	2	2	1608
1560 Cherry Crest Ave	Detached	$789,000	3	2.5	1808
1621 Larch St	Detached	$799,000	4	2.5	3040
1 Bernini Ct	Detached	$1,150,000	4	3.5	3697
5464 Southwood Dr	Detached	$1,450,000	5	3	3687
871 Country Club Rd	Detached	$2,395,000	4	3.5	4429
5185 Carman Dr	Detached	$3,888,000	3	2.5	4407
876 North Shore Rd	Detached	$5,095,000	4	3.5	5793

Pending Sales Oct 14-20, 2024

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
360 Cervantes Cir	Condo	$245,000	2	1	832	7
174 Oswego Summit	Condo	$345,000	2	2	1506	28
5271 Chinook Ct	Detached	$650,000	3	2	1390	66
17900 Westview Dr	Detached	$799,000	3	2	1960	157
5948 Bay Point Dr	Detached	$909,950	4	2.5	2421	107
1327 Cedar St	Detached	$964,900	4	2.5	2350	5
200 Burnham Rd #410	Condo	$1,050,000	3	2	1806	18
18560 Westview Dr	Detached	$1,200,000	5	2.5	3411	136

Sold/Closed Oct 14-20, 2024

Address	Type	List Price	Closed Price	Sq Feet	CDOM
121 Leonard St C	Condo	$499,900	$465,000	1413	77
16 Grouse Ter	Detached	$1,050	$850,000	2627	154
1 Windsor Ct	Detached	$879,999	$850,000	2038	62
3 Scarborough Dr	Detached	$1,190,000	$900,000	3778	121
1237 Hallinan Cir	Detached	$995,000	$995,000	1590	0
782 Sunny Hill Dr	Detached	$1,145,000	$1,027,000	2012	51
1029 Laurel St	Detached	$1,350,000	$1,175,000	3208	108
171 5th St	Detached	$1,399,900	$1,400,000	2367	10
768 7th St	Detached	$1,895,000	$1,825,000	2921	22
17930 Kelok Rd	Detached	$3,149,900	$2,815,000	4715	569
3232 Lakeview Blvd	Detached	$5,850,000	$5,300,000	8170	668
16819 Allen Rd	Detached	$7,950,000	$6,500,000	4882	59
769 Northshore Rd	Detached	$3,995,000	$3,800,000	3700	0

October 20, 2024October 20, 2024

Portland Area Sept 2024 Stats + LO

Here is your breakdown from the previous month, September, for Portland and surrounding areas including LO broken out at the bottom. ***Be sure to check out the Neighborhood Report which categorizes down into smaller pieces.

Overview/Fluctuations ~ Sept 2024 Market Data:

The big news for September is that there is no real big news. Things are shifting slowly following the Fed’s interest rate cut on Sept 18, and this is taking some time to impact on the ground. The things we are seeing include increasing Pending sales (not decreasing) from the month prior, modestly increasing Inventory, most neighborhoods back in appreciation territory, and/but overall downward pressure on price with “time on market” increasing from 48 days in August to 55 days in Sept, further indicating Buyers waited it out. Though it takes time for the Fed’s actions to impact mortgage rates, it is happening, & we see increased activity and notably happier Buyers out making Offers!

Rates: “Strong jobs numbers have halted rates dropping, but the Fed has signaled more cuts ahead which should help. Right now we are in the low 6% range.” Gary Boyer, Regional VP, Gold Star Mortgage Financial

According to the RMLS Market Action Report for the Portland Metro Area September 2024:

There were 2,589 New Listings in September which is down 4.6% from 2,713 in Sept 2023 and down 3.0% from the 2,669 in the previous month/August.
At 1,702 Sept 2024’s Closed Sales (Solds) are down 0.9% from Sept 2023’s 1,717 and down 13.0% from the previous month’s total of 1,957.
At 2,076 Sept 2024’s Pending Sales (Accepted Offers) increased 14.8% from Sept 2023’s 1,809, and increased 1.2% over the previous month/August’s total of 2,052.
The Average Sale Price for September 2024 of, $617,200 is up$21,300. from last year/Sept 2023’s $595,900, and down $3,600 from the previous month/August’s $620,800.
The “Median Sale Price (the price smack dab in the middle of all sales) in Sept 2024 of $541,000 is up $3,700 from Sept 2023’s $537,400, & down $14,000 from August’s $555,000

LAKE OSWEGO: (Month of September ’24)

325 Active Listings (Aug 329)
123 New Listings (Aug 127)
100 Pending Sales (Aug 92)
86 Closed Sales (Aug 99)
Average Sale Price for Sept: $1,152,900 (Aug $1,050,500)
NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month. Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
48 Days on the Market (Aug 52)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS)