Market Activity ~ Sept 19-25, 2022

Last week we saw 9 properties enter the market, 13 move to Pending status and 5 Sold/Closed. Right now there are 130 properties ranging from $240,000 to $11.5 mil available in Lake Oswego.

Here is the latest according to RMLS:

NEW Sept 19-25, 2022

AddressList PriceBedsBathsSFProp Type
45 EAGLE CREST DR #208$249,900221046CONDO
246 RIDGEWAY RD #17B$344,00011753CONDO
11 SUMMIT RIDGE CT$475,00022.11576ATTACHD
1172 BOCA RATAN DR$580,000321611ATTACHD
4724 LAMONT CT$649,000321698DETACHD
72 TOUCHSTONE$929,900433908DETACHD
4744 CAMBRIDGE CT$985,00032.12856ATTACHD
17423 SCHALIT WAY$998,90042.12442DETACHD
842 6TH ST$1,850,00043.13840DETACHD

PENDING Sept 19-25, 2022

AddressList PriceBedsBathsSFProp TypeDays
900 CORNELL ST$495,00031.11300DETACHD4
256 CERVANTES$539,90022.11984ATTACHD158
918 LAKE FRONT RD$650,00021921DETACHD11
5429 KENNY ST$695,000321584DETACHD61
1695 HALLINAN ST$699,900432763DETACHD96
15443 SW MEADOWLARK CT$749,999321895DETACHD17
2711 Greentree RD$919,900433241DETACHD59
4744 CAMBRIDGE CT$985,00032.12856ATTACHD2
18010 GIMLEY CT$1,090,00053.13652DETACHD53
13615 WESTLAKE DR$1,550,00044.14396DETACHD85
2485 GREENTREE RD$2,350,000443853DETACHD21
18735 BRYANT RD$2,495,00043.15544DETACHD118
1287 CHERRY LN$2,999,90054.15312DETACHD4

SOLD Sept 19-25, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
360 CERVANTES CIR$240,000$240,00021832CONDO19
1000 BICKNER ST$635,000$635,00032.11988DETACHD2
1620 ASPEN ST$785,000$825,000432284DETACHD7
12886 SIERRA CT$1,085,000$1,125,000433188DETACHD3
542 4TH ST$1,549,000$1,525,00044.23376ATTACHD3
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) .

Open House Sat & Sun, Oct 1 & 2, noon-3:00

I am thrilled to introduce you to my new listing at 4704 Cambridge Ct in the West Lake neighborhood of Lake Oswego.

With the primary bedroom on the main level, it is a wonderful floorplan with a huge kitchen that is open to the family room. The Southern side consists of walls of windows that allow you to enjoy expansive Southern views of the greenspace behind and also across the West Lake neighborhood.

There are 3 large bedrooms plus a bonus room. In addition to the great room, there is a formal living room and formal dining. The primary suite has a fireplace and a huge bathroom with double sinks, a jetted tub, and a custom walk-in shower. There is also a huge walk-in closet.

As part of the Devonshire Home Owner’s Association, the exterior maintenance and landscaping is maintained by the HOA for easy-care living.

Priced at $985,000, it is an opportunity to own a newer home in Lake Oswego with a primary bedroom on the main.

I will be holding it open this Saturday and Sunday from noon to 3pm. Please park on Peter’s Rd.

I’m looking forward to seeing you!

Dianne

The Power of 20

Years ago, I realized that the number 20 is very powerful in real estate. It applies both when buying and when selling.

When Buying

I think most people do the bulk of their house hunting online. The Internet is an amazing tool. However, it is also super important to physically visit houses. I think you need to go into them to get a feeling for value. What does $500,000 look like? By the time that you have gone through 20 houses you will have a strong sense of value. You’ll know what feels like a good deal and what feels like it is overpriced.

This does not mean that you absolutely have to see exactly 20 houses. No. In fact, the first house that my husband and I bought was the first house that we looked at. We walked in, fell in love, and made an offer.

20 is simply a good guide and a way to set some expectations for the experience of house hunting.

When Selling

When selling, you need about 20 showings to get an offer. Again, it can happen faster than that, but 20 is a good barometer.

So, if you put your house on the market and you get 20 showings in the first few days, you are going to get an offer quickly.

If the reverse happens and you get 2 showings the first week, and then 2 the next, this means you’re going to be on the market for about 10 weeks to get an offer. If you need an offer more quickly, then you need to drop the price or fix what people are objecting to.

If you get 20 showings and no offer happens, again, you need to drop the price or fix what people are objecting to.

I hope you find this concept useful. As always, thanks for reading the blotter.

Dianne

Market Activity Sept 12-18, 2022

Last week in Lake Oswego there were 14 new listings, 4 of which sold quickly and are represented in this report as pending sales. There were 24 properties that moved to pending status and 14 sold/closed homes.

See below for RMLS details.

New on the Market Sept 12-18, 2022

AddressTypePriceBedroomsBathsSquare Feet
900 Cornell StDetached$495,00031.51300
103 Kingsgate RdDetached$625,00032.51352
27 Partridge LnDetached$699,000322317
918 Lake Front RdDetached$700,00021921
4793 Auburn LnAttached$750,00032.52083
17944 Tualata AveDetached$995,000432325
19125 Olson AveDetached$1,125,00042.53828
1 Juarez StDetached$1,245,00032.53388
17228 Blue Heron RdDetached$1,829,00042.5+.54236
13800 Goodall Rd Lot 1Detached$4,350,00056.15642
13770 Goodall Rd Lot 2Detached$4,395,00054.15933

Pending Sept 12-18, 2022

AddressTypePriceBedroomsBathsSquare FeetDOM
4 Touchstone #95Condo$219,900229848
4 Touchstone #77Condo$240,00032.5135151
4463 Thunder Vista LnCondo$438,00022.517412
113 Touchstone TerrAttached$510,00032.521043
1272 Hide A Way CtDetached$549,0004218163
15450 Stephanie CtAttached$565,00032.5166266
5850 Kenny StDetached$589,0002211726
66 Weatherstone #35Condo$599,90043.5246520
8 Mountain CircleAttached$629,0003213165
1130 Hallinan CtDetached$650,0003214634
18040 Belmore AveDetached$674,90032207737
32 Independence AveDetached$740,00043.134205
18 Partridge LnDetached$780,00043314517
2050 Southshore BlvdDetached$780,00032.5162910
67 Tanglewood DrDetached$799,90042.5314956
490 Boca Ratan DrDetached$824,90032210863
18591 Waxwing WayDetached$875,00032.5214532
2050 Wembley Park RdDetached$1,099,5004218685
19125 Olson AveDetached$1,125,0004238283
2777 Glen Haven RdDetached$1,159,00032.52560102
13504 Streamside DrDetached$1,279,00042.5348631
1625 Cloverleaf RdDetached$2,375,00044385331
864 6th StDetached$2,998,00054.55266124
16561 Maple CircleDetached$3,800,00043.5335630

Sold/Closed Sept. 12-18, 2022

AddressTypeList PriceSold PriceSquare FeetDOM
45 Oswego SummitCondo$240,000$245,0007644
168 Oswego SummitCondo$330,000$315,000138329
4300 Botticelli StAttached$399,900$374,900172142
200 Burnham Rd #103Condo$419,500$419,00076516
4 WeatherstoneDetached$535,000$480,000169241
4266 Woodside CircleDetached$549,900$502,00019448
18690 Wood Duck WayDetached$775,000$775,00018950
5272 Tree StDetached$799,900$810,00019484
5557 Langford LnDetached$839,000$844,500153915
1202 Spruce StDetached$850,000$850,00017063
63 TouchstoneDetached$925,000$885,000308821
1571 HIghland DrDetached$989,000$980,00030003
2600 Dellwood DrDetached$1,600,000$1,525,0003690314
17226 Chapin jWayDetached$2,600,000$2,750,00049301

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.

August Numbers- Portland Real Estate Stats + LO

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

Overview/Fluctuations ~ Market Data:
As we move from summer to fall, we see a continuing trend of market stabilization & readjustment. Inventory is still holding its own compared to last year but down slightly from the prior month. Prices are slowing down as far as the steep upward trend that we’ve been seeing. Activity remains strong with accepted Offers and Closings increasing in volume over July, and average time on market is currently at 28 days.
Rates: “Rates have pushed up based on inflation and are now around 6% for a 30-year fixed rate mortgage.” Gary Boyer, Regional VP, Directors Mortgage

  • There were 3,209 New Listings in August 2022 down 13.2% from 3,698 in August 2021 and down 14.7% from the previous month/July’s 3,763.
  • At 2,581 August 2022’s Closed Sales (Solds) are down 19.8% from August 2021’s 3,219, and up 8.9% from the previous month/July 2022’s total of 2,369.
  • At 2,530 August 2022’s Pending Sales (accepted Offers) are down 28.4% from August 2021’s 3,535, and also down 3.5% from the previous month/July’s total of 2,445.
  • The Average Sale Price in August 2022 of, $607,700 is up $24,100 from last year/August 2021’s $583,600, and took a quick dive of $28,000 from the previous month/July’s $635,700.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in August 2022 of $548,400 rose from last year/August 2021’s $525,000 by $23,000, and is down $17,600 from the previous month’s $566,000.

LAKE OSWEGO (August 2022):

205 Active Listings (Jul 202)
151 New Listings  (Jul 169)
117 Pending Sales (Jul 111)
120 Closed Sales  (Jul 119)
Average Sale Price for Aug: $950,100 (Jul $1,029,100)
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   (Jul 15)

Market Activity ~ Sept 5-11, 2022

Last week Lake Oswego saw 24 properties enter the market, 12 moved to Pending status and 16 Sold/Closed. Right now there are 127 properties available ranging from $240,000 to $11.5 mil.

Here is the breakdown according to RMLS:

NEW Sept 5-11, 2022

AddressList PriceBedsBathsSFProp Type
113 TOUCHSTONE TER$510,00032.12104ATTACHD
1272 HIDE A WAY CT$549,000421816DETACHD
30 GREENRIDGE CT$550,00031.11928ATTACHD
5850 KENNY ST$589,000221172DETACHD
8 MOUNTAIN CIR$629,000321316ATTACHD
1130 HALLINAN CT$650,000321463DETACHD
32 INDEPENDENCE AVE$740,00043.13420DETACHD
7 SPINOSA$769,900332295DETACHD
2050 SOUTHSHORE BLVD$780,00032.11629DETACHD
1310 LEE ST$789,900322344DETACHD
4361 ALBERT CIR$919,00042.12382DETACHD
674 1ST ST$1,074,00022.12147CONDO
2050 WEMBLEY PARK RD$1,099,500421868DETACHD
4051 VIRGINIA WAY$1,100,000421903DETACHD
171 5TH ST$1,368,000422367DETACHD
178 PINE VALLEY RD$1,595,00053.13001DETACHD
18975 OLSON AVE$1,850,000533569DETACHD
3900 CANAL RD$1,990,00043.14934DETACHD
17688 UPPER CHERRY LN$2,850,00043.15040DETACHD
890 Lake Shore RD$3,450,00033.13555DETACHD
2643 SOUTHSHORE BLVD$3,895,00033.24872DETACHD
1098 CHANDLER RD$3,995,00043.14003DETACHD
1425 CHANDLER RD$4,800,00055.15692DETACHD
1475 SKYLAND DR$6,750,00056.28986DETACHD

PENDING Sept 5-11, 2022

AddressList PriceBedsBathsSFProp TypeDays
16074 LAKE FOREST BLVD$559,950321354DETACHD34
1 ORIOLE LN$585,00032.12317DETACHD101
6 ADAMS CT$665,000321549DETACHD83
1250 HALLINAN CIR$749,950432168DETACHD57
1475 CORNELL ST$799,000321599DETACHD7
38 MORNINGVIEW CIR$825,000432408DETACHD9
4264 HARVEY WAY$895,000432728DETACHD36
2775 VALE CT$949,95042.12805DETACHD97
4137 ORCHARD WAY$1,175,00052.13680DETACHD15
13248 ROGERS RD$1,195,00053.13107DETACHD87
15784 TWIN FIR RD$2,200,00032.13471DETACHD20
961 LAKE FRONT RD$4,895,00033.14998DETACHD59

SOLD Sept 5-11, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
47 EAGLE CREST DR #24$224,900$215,00011672CONDO7
122 OSWEGO SMT / main$235,000$251,33011764CONDO22
200 BURNHAM RD #405$380,000$382,500221328CONDO22
12822 BOONES FERRY RD$479,900$455,00022.11136CONDO41
6240 BURMA RD$647,500$627,500321724DETACHD6
5297 CENTERWOOD ST$655,000$665,000321746DETACHD7
5 PARTRIDGE LN$779,000$672,00032.12794DETACHD5
5840 BURMA RD$829,000$818,000421632DETACHD19
12562 SW ORCHARD HILL RD$937,000$925,00042.12574DETACHD292
19 TOUCHSTONE$899,000$925,000432789DETACHD25
33 WESTRIDGE DR$1,150,000$1,250,00053.13864DETACHD11
5014 UPPER DR$1,399,900$1,365,000533416DETACHD44
1991 RIDGEWOOD RD$1,550,000$1,450,00042.24993DETACHD3
1250 SW Englewood DR$2,499,000$2,499,00033.15097DETACHD70
2493 SOUTHSHORE BLVD$3,699,000$3,000,00065.17561DETACHD64
162 BERWICK RD$3,295,000$3,147,50044.14657DETACHD0
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) .

Getting a Great Inspection

When buying a house, it is just super important to have a really great home inspection. It’s a big deal to buy a house; probably the biggest investment of your life. You want to get it right.

So who should you hire? How do you know you are hiring a professional who will do the most thorough inspection possible.?

I have come to believe that the expensive inspectors ($700+) are worth every extra dollar. First of all, to successfully stay in business at the higher cost level, they have to do a good job. But even more than that, when you hire an expensive inspector, what you are paying for is time.

A less expensive inspector ($350 or so) has to do 2 inspections to make as much money as the person who is charging $700. In other words, they have a schedule to keep. They have to watch their time to be certain that they can conclude the current inspection, get a bit to eat and find a restroom, drive to the next appointment and arrive on time.

The inspector who is charging more, in my experience, only does one inspection a day. At least this is the case with inspectors that I recommend. If they need time to explore the house more and to figure things out, they have the time.

Along with a thorough inspection, a good inspector will also take the time to teach the home buyer some basics about the house. Things like how to change the furnace filter and how often to clean the gutters.

Along with a general inspection, you should plan to have a sewer scope done and to do radon testing. If it’s an older home, you need to find out if there is an in-ground oil tank. The whole process will cost about $1000. As I said, every dollar is worth it.

Both Linda and I recommend excellent inspectors. Feel free to reach out if you would like more information.

Dianne

Market Activity Aug 29-Sept 4, 2022

The market feels stable to me right now. Numbers are very similar to what they were when I last posted a market activity report two weeks ago. Last week in Lake Oswego we had 10 new listings, one of which sold quickly and appears in this report as a pending sale. We also had 15 properties move to pending status and 18 that closed with finalized sales.

See below for RMLS data.

New Listings Aug 29-Sept 4, 2022

AddressTypePriceBRBathSq Feet
1475 Cornell StDetached$799,000321599
15443 Meadowlark CtDetached$824,900321895
38 Morningview CircleDetached$825,000432408
5140 Lower DriveDetached$929,995321706
1466 Nelson CtDetached$1,195,00043.53169
16873 Canyon DrDetached$1,980,000443632
55 Eagle Crest DrDetached$2,295,00054.5+.55629
2485 Greentree RdDetached$2,325,000443853
3220 Southshore BlvdDetached$2,790,000333462

Pending Sales Aug 29-Sept 4, 2022

AddressTypePriceBRBathsSq FtCDOM
360 Cervantes CircleCondo$240,000218327
4266 Woodside CircleAttached$519,9994219448
136 Touchstone TerDetached$630,00032.519664
939 Devon LnDetached$730,00032224980
2190 Fernwood CircleDetached$735,00053250715
1202 Spruce StDetached$850,00022.517063
17377 Margorie AveDetached$914,80043265120
17291 Cedar RdDetached$1,149,99954.528729
17244 Fernwood DrDetached$1,150,00042.5261723
4360 West Bay RdDetached$1,185,0004326363
5786 Washington CtDetached$1,199,0004331866
165 Furnace StCondo$1,299,99922.5202339
2211 Fernwood CircleDetached$1,595,00053343117
13615 Westlake DrDetached$1,599,00044.5439667
2420 Palisades Crest DrDetached$1,599,90042.535835

Closed/Sold Aug 29-Sept 4, 2022

AddressTypeList PriceSold PriceSq FeetDOM
40 Crestfield CtCondo$200,000$225,0006902
45 Eagle Crest Dr #415Condo$240,000$239,000105645
4061 Jefferson PkwyCondo$425,000$352,0001462152
3822 Botticelli StCondo$344,900$371,00011715
5055 Foothills Dr GCondo$429,900$429,9001,25210
3930 Carman DrCondo$439,000$439,000114629
4363 Woodside CircleAttached$581,950$581,950153263
439 Livingood LnDetached$814,000$815,00025406
2 YorkickDetached$975,000$895,50029793
4618 Auburn LnAttached$895,000$898,50027323
12843 Sierra Vista DrDetached$998,900$1,060,00028102
346 Lake Bay CtDetached$1,075,000$1,100,00019003
4996 Cascara LnDetached$1,245,000$1,155,000310625
754 5th StDetached$1,298,000$1,175,00021797
1131 Northshore RdDetached$2,100,000$2,100,00038502
732 2nd StDetached$2,399,000$2,150,000354732
489 8th StDetached$2,100,000$2,150,00036485
17527 Kelok RdDetached$2,150,000$2,285,000466410

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 ~ Aug 22-28, 2022

Last week Lake Oswego saw 14 properties enter the market, 11 move to Pending status, and 16 Closed/Sold. Right now there are 125 homes available in Lake Oswego ranging from $245,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Aug 22-28, 2022

AddressList PriceBedsBathsSFProp Type
360 CERVANTES CIR$240,00021832CONDO
4266 WOODSIDE CIR$519,999421944ATTACHD
136 TOUCHSTONE TER$630,00032.11996DETACHD
10 MOUNTAIN CIR$639,000321434ATTACHD
18 PARTRIDGE LN$780,000433145DETACHD
1620 ASPEN ST$785,000432284DETACHD
1202 SPRUCE ST$850,00022.11706DETACHD
4137 ORCHARD WAY$1,175,00052.13680DETACHD
5786 WASHINGTON CT$1,199,000433186DETACHD
4410 LORDS LN$1,485,00053.13499DETACHD
1261 WELLS ST$1,750,00043.14316DETACHD
17261 KELOK RD$2,000,00043.13450DETACHD
718 MAPLE ST$2,295,00032.14023DETACHD
17226 CHAPIN WAY$2,600,00043.14930DETACHD

PENDING Aug 22-28, 2022

AddressList PriceBedsBathsSFProp TypeDays
200 BURNHAM RD #103$425,90011765CONDO11
20 WHEATHERSTONE$479,90032.11692CONDO7
14402 SHERBROOK PL$649,99932.11976DETACHD7
1620 ASPEN ST$785,000432284DETACHD3
7200 CHILDS RD$950,000442660DETACHD11
890 C AVE$1,275,00032.12596DETACHD11
13504 STREAMSIDE DR$1,279,00042.13486DETACHD72
542 4TH ST$1,549,00044.23376ATTACHD19
1991 RIDGEWOOD RD$1,550,00042.24993DETACHD19
17226 CHAPIN WAY$2,600,00043.14930DETACHD1
707 LAKE SHORE RD$2,950,00033.12992DETACHD64

SOLD Aug 22-28, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
4405 THUNDER VISTA LN$467,500$435,00022.11922CONDO92
5054 FOOTHILLS DR, #70F$485,000$448,000221252CONDO24
4268 WOODSIDE CIR$589,900$560,000421944ATTACHD33
5342 RED LEAF ST$599,000$570,00032.11710DETACHD29
16532 SW Mellon AVE$625,000$625,00041.11760DETACHD5
14332 SHERBROOK PL$689,900$645,00032.11770DETACHD18
1765 CONIFER DR$785,000$749,000422334DETACHD16
39 TANGLEWOOD DR$899,000$922,000433167DETACHD4
347 6TH ST$1,050,000$1,175,00033.12360ATTACHD3
14760 UPLANDS DR$999,000$1,200,000432772DETACHD6
1455 NELSON CT$1,149,000$1,245,00042.12210DETACHD14
3151 ALBER SPRING CT$1,375,000$1,400,00053.13917DETACHD1
1839 PALISADES LAKE CT$1,599,900$1,500,00043.14570DETACHD43
13740 KNAUS RD$1,895,000$1,845,00043.14459DETACHD36
17261 KELOK RD$2,000,000$2,000,00043.13450DETACHD0
2088 CREST DR$7,250,000$6,900,00046.18259DETACHD80
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) .