Market Activity ~ Jan 23-29, 2023

Last week there were 10 properties entering the market (New), 7 accepted Offers (Pending) and 6 that Sold/Closed in Lake Oswego. Right now there are 88 homes available ranging from $229,900 to $9.9 mil.

Here is the breakdown of last week’s activity:

NEW Jan 23-29, 2023

AddressList PriceBedsBathsSFProp Type
44 EAGLE CREST DR #24$265,000321085CONDO
1600 ASPEN ST$575,00032.12212DETACHD
1448 GREENTREE CIR$945,00042.12649DETACHD
17390 GRANDVIEW CT$1,450,00044.24502DETACHD
21 D AVE #6$1,693,60022.11999CONDO
21 D AVE #3$1,850,40022.12178CONDO
21 D AVE #8$1,945,60022.12183CONDO
17173 CEDAR RD$2,350,00044.13996DETACHD
1956 HIGHLANDS LOOP$2,750,00054.14641DETACHD
17930 KELOK RD$3,849,90053.24715DETACHD

PENDING Jan 23-29, 2023

AddressList PriceBedsBathsSFProp TypeDays
16250 PACIFIC HWY #81$327,80011841CONDO99
19019 TERRY AVE$674,900321344DETACHD9
19176 SW BENFIELD AVE$749,900321538DETACHD3
1248 LARCH ST$750,000422347DETACHD6
13991 MAJESTIC CT$789,000321765DETACHD6
15684 BOONES WAY$815,00032.12425DETACHD97
21 D AVE #7$1,804,00022.12023CONDO434

SOLD Jan 23-29, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
4361 ALBERT CIR$919,000$752,50042.12382DETACHD118
16439 LEXINGTON CT$740,000$845,000221563DETACHD52
13659 WESTLAKE DR$1,625,000$1,550,00043.14422DETACHD122
141 FURNACE ST/Lower$1,750,000$1,615,00022.12249CONDO67
16873 CANYON DR$1,980,000$1,980,000443632DETACHD48
16885 FERNWOOD DR$2,149,000$2,149,00043.13753DETACHD43
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) .

Radon: Take Action

As January comes to a close, I want to take advantage of the fact that January is Radon Awareness Month. This is important as you buy or sell a home, but it’s also important simply as a human who lives in a contained environment. Whether you are buying or sell or not, you should test your house for radon.

Radon is a naturally occurring gas that is given off by granite boulders. These boulders are buried deep in the ground. You can’t see them, so you don’t know if they are there or not. This is why everyone should be doing radon tests.

I first became concerned about radon when I read an article in a local newspaper about 20 years ago. A resident of my neighborhood, in the Lake Grove section of Lake Oswego, died of lung cancer. He had been a non-smoker. After his death, his wife checked their home for radon and discovered elevated levels. It was the likely cause of his death.

It’s estimated that 20,000 deaths in the US each year are caused by radon exposure. It is the second leading cause of lung cancer, after cigarette exposure.

While some parts of the metro area are known for elevated radon levels (the Alameda Ridge is Northeast Portland is often referred to as Radon Ridge), radon can be found in Lake Oswego. I sold a house in Village on the Lake a number of years ago and radon was found. It was a lake-front house.

In Oregon, radon is fairly common in the northern Willamette Valley. This is a result of the Great Missoula Flood that occurred thousands of years ago. A huge ice dam formed in the area of what is now Sandpoint, Idaho. It contained a lake that went deep into Montana. When the ice melted it released a huge flow of water and debris that came across Eastern Washington, dug out the Columbia River Gorge, and came to rest in the Willamette Valley. This flow contained granite boulders that, today, are the primary source of radon in homes in this area.

While there is no known safe level of radon, it can be measured. The test is simple. You can buy a test at most home improvement stores. You set two canisters in your house for several days, then mail them off to a lab, and you get emailed results within about 10 days. It’s been awhile since I’ve done it this way, but I believe it costs under $100. Or you can hire a professional. This costs about $150. They set a test box into your house for 2 days and you get same day results.

Correcting radon is usually under $2000. Not super expensive.

My point here is that it’s easy to do. Realtors in Oregon are trained to make radon testing a part of the home inspection process. But do the test for the benefit of yourself even if you aren’t selling.

I hope you find this information helpful. Here’s to going into February living in the safest and healthiest home possible.

Dianne

Market Activity January 16-22, 2023

It feels to me like the market is really picking up. Multiple offers are happening again on well-priced houses. The inventory remains low, but it will pick up steam as we head towards spring.

Last week in LO there were 10 new listings, 7 of which sold fast and are represented here as pending sales. There were 13 houses that went pending, and 1 closed sale.

See below for RMLS data.

New on the Market January 16-22, 2023

AddressTypePriceBedroomsBathsSq. Feet
44 Eagle Crest #23Condo$229,90011798
47 Eagle Crest #18Condo$249,99921932
16250 Pacific Hwy #75Condo$419,000321593
16880 Tracy AveDetached$539,900311080
16019 Terry AveDetached$674,900321344
573 2nd StCondo$1,200,00022.51659
2126 Wembley PlDetached$1,795,00043.53603

Pending Sales January 16-22, 2023

AddressTypePriceBedroomsBathsSq. FeetDOM
86 Kingsgate Rd #63Condo$265,00022849156
3808 Botticelli StCondo$349,5003212243
12826 Boones Ferry RdCondo$463,70022.5118273
258 CervantesAttached$559,90032.523123
18350 Pilkington RdDetached$565,0003212902
1141 Devon LnDetached$750,00022.5193217
791 4th StDetached$879,000321568240
1466 Nelson CtDetached$1,149,00043/53169137
913 Sunny Hill DrDetached$1,250,00063.541967
853 E AveDetached$1,999,00033.52839109
4938 Park Bluff PlDetached$2,495,00044.54046167
17688 Upper Cherry LnDetached$2,685,00043.5504067
3917 Southshore BlvdDetached$5,200,00034.5+.550830

Closed/Sold January 16-22, 2023

AddressTypeList PriceSold PriceSq. FeetCDOM
1612 Lake Front RdDetached$950,000$945,000183151

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.

Dec ’22+Year-End Report~Portland Neighborhood Stats + LO

Here you’ll find the overall Monthly Report plus year-end details and Neighborhood Stats as of Dec 31st, 2022, with Lake Oswego broken out below:

Overview/Fluctuations ~ December 31, 2022 – YEAR-END Market Data:

Inventory has risen substantially over December last year, and steadily in the last few months. Average & Median Values have risen by approx. $40,000 over last year, which is good, but not as substantial an annual increase as in the previous few years. Activity/Volume (Actives/Pendings/Solds) decreased across the board from the last year/2021 and mostly occurring in the last few months as an apparent reaction to rates.                                                                                                                                       

Rates: “Rates are still hovering in the lower 6% range. There has been less volatility lately which is a positive sign.” Gary Boyer, Regional VP, Directors Mortgage

The twelve months of 2022 compared to 2021: New Listings, (36,210) decreased 10.7%. Sales (26,852) decreased 24.2%, and Closed Sales (27,985) decreased 20.5%.         By Comparison, Twelve months of 2021 as compared to 2020 from last year’s December Report read: New Listings, (40,531) increased 5.4%. Pending Sales (35,405) increased 7.8%, and Closed  Sales (35,182) increased 9.8%.

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

  • There were 1,073 New Listings in Dec 2022 down 32.9% from 1,599 in Dec 2021 and down 35.6% from the previous month/Nov’s 1,666.
  • At 1,464 Dec 2022’s Closed Sales (Solds) are down 43.3% from Dec 2021’s 2,582, and down 9.7% from the previous month/Nov 2022’s total of 1,621.
  • At 1,206 Dec 2022’s Pending Sales (accepted Offers) are down 37.9% from Dec 2021’s 1,942, and also down 19.5% from the previous month/Nov’s total of 1,498.
  • The Average Sale Price for December 2022 of, $566,700 is down $16,200 from last year/Dec 2021’s $582,900, and down $17,900 from the previous month/Nov’s $584,600.  YTD Average is 610,900, up 6.8%  (+15.8% in 2021)
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in December 2022 of $507,500 is down $3,500 from last year/Dec 2021’s $511,000, and down $18,400 from the previous month’s $525,900.  YTD Median is 548,400, up 7.7%   (+15.7% in 2021)                    

Neighborhoods/Areas of Portland:

LAKE OSWEGO (December 2022):

142 Active Listings (Nov 173)
40 New Listings  (Nov 73)
35 Pending Sales (Nov 48)
59 Closed Sales  (Nov 69)
Average Sale Price for Nov: $820,200 (Nov $1,003,400)
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.
58 Days on the Market   (Nov 42)

Market Activity ~ Jan 9-15, 2023

Last week we saw 6 properties enter the market in Lake Oswego, 6 move to Pending status, and 3 Sold/Closed.

Right now there are 91 homes available in lake Oswego ranging from 229,900 to 9.9 mil.

Here is the breakdown according to RMLS:

NEW Jan 9-15, 2023

AddressList PriceBedsBathsSFProp Type
258 CERVANTES$559,90032.12312ATTACHD
15430 PARTRIDGE DR$746,50042.12279DETACHD
913 SUNNY HILL DR$1,250,00063.14196DETACHD
530 MIDDLECREST RD$1,659,000433280DETACHD
4694 UPPER DR$2,098,000333637DETACHD
1960 Mapleleaf RD$2,450,00055.14099DETACHD

PENDING Jan 9-15, 2023

AddressList PriceBedsBathsSFProp TypeDays
210 S STATE ST #5$365,000211339CONDO70
16 HOTSPUR ST$799,000432335DETACHD5
2845 VALE CT$800,000433157DETACHD101
3195 EDGEMONT RD$975,000321858DETACHD4
6545 CHILDS RD$1,199,90064.13508DETACHD28
789 E AVE$1,899,90032.12733DETACHD4

SOLD Jan 9-15, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
5 GOYA ST$680,000$665,50042.12586DETACHD39
2424 GREENTREE RD$729,000$735,00032.11944DETACHD17
4920 MULHOLLAND DR$805,000$775,00032.12498ATTACHD62
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) .

Adapt and Learn

When I started in Real Estate 35 years ago, our sale agreement was one page, legal size, and there were few, if any, supplemental forms. If something additional needed to be added, like a home inspection, I took out a blank addendum and wrote it up myself. Over the years many, many forms have been added. The sale agreement is 11 pages long and there are about 100 supplemental forms.

Realtors are not attorneys, so it’s a good thing that we no longer write our own addendums for things like home inspections. However, we do have to know the forms inside and out. We use them and we need to be able to explain what they mean. This requires a lot of continuing education. Now, add to the mix that an entire new set of paperwork is being rolled out.

Signing Official Document

The forms that we have historically used were developed by Oregon Real Estate Forms, OREF. This entity primarily consisted of the two largest Realtor Associations in the state: Portland Metro and Eugene.

Now the Oregon Association of Realtors has developed a new set of forms. The old ones are not being retired, instead we will have 2 complete sets of forms to use and both are acceptable. This means that Realtors need to be training and learning about these new forms. There are pluses and minuses to both. I also think it’s likely that eventually one will dominate and my prediction is that it will be the new forms.

I am very proud to say that Linda and I have both been training for the past 2 months to become knowledgeable about the new forms. I think we are positioning ourselves to give the best service possible to our clients. I also want to give a shout out to Oregon First. Our company started this training, and went in depth with it, from the get go.

So, Linda and I are adapting and learning. It really is exciting and it feels good to know that we are positioning ourselves to give you the best experience possible when you buy or sell a house. We are here to be of help!

Dianne

Market Activity Jan 2-8, 2023

So exciting to be starting another new year in real estate! I’ve been seeing tulips in the stores and enjoying that feeling that spring is around the corner.

While there are not yet tulips in our yards, there are houses coming on the market and selling. Last week in Lake Oswego we had 3 new listings, one of which sold quickly and is reflected here as pending. We also had 5 pending sales and 5 closed sales.

Please see below for RMLS data.

New on the Market Jan 2-8, 2023

AddressTypePriceBedroomsBathsSq Feet
16250 Pacific Hwy #57Condo$384,000221305
30 Condolea DrCondo$450,000221420

Pending Sales Jan 2-8, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
16439 Lexington CtDetached$740,00022156352
1141 Devon LnDetached$750,00022.519325
4361 Albert CircleDetached$795,00042.52282118
17920 Meadowlark LnDetached$1,200,00042.5275810
13052 Knaus RdDetached$1,400,00043302623

Sold/Closed Jan 2-8, 2023

AddressTypeList PriceClosed PriceSq FeetCDOM
3433 McNary Pkwy #806Condo$324,900$308,300113649
1475 Cornell StDetached$799,000$640,0001599103
1310 Lee StDetached$789,900$730,000234491
2350 Southshore BlvdDetached$996,000$926,000223652
13017 Knaus RdDetached$1,898,000$1,595,0004690148

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.

This Week in Lake Oswego


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

Mon, Jan 9, 2022 – 11:15 AM- 12:30PMLunch at the ACC (M/W/F)- Call (503) 635-3758 for reservations. Adult Community Center, 505 G Ave – For more info CLICK HERE

Tues, Jan 10, 2022 – 6:30PM-8:00PM – Pints from the Past (Part 3) ~ 3rd in the 3-part series on Georgiana Pittock and the Pittock family presented by Mary and Michael Hutchens  The Lake Theater &Cafe, 106 North State Street- More Info: CLICK HERE

Wed, Jan 11, 2022 – 10:00-11:30AM Geneology Interest Group~  Meet in person or online on the 2nd Wed of each month with others interested in geneology research. 505 G Ave – More Info + Link:  CLICK HERE

Thurs, Jan 12, 2022 – 7:00PM BIPOC Women’s Speaker Series at Mary’s Woods: Rep. Tawna Sanchez ~ In person at Mary’s Woods or live-streamed, enjoy this series featuring local BIPOC women as they answer the questions “What is your story? What are your passions?” ~ 17400 Holy Names Dr – More Info + Link:  CLICK HERE

Fri, Jan 13, 2022 – 7:00-9:00PM – Living Well Dance – featuring the Millennium Dance Band ~ Come dance! Dance music as performed by the “Big Bands” of the 1930’s, 40’s, and 50’s, with an occasional ballroom favorite. $7.00 at the door ~ CCP, 1060 Chandler Rd. – All ages are invited (14 and under w/an adult) – More Info: CLICK HERE

Sat, Jan 14, 2022 – 3:00-4:00PMLego Club- T (ages K-5) Every 2nd & 4th Saturday at the Lake Oswego Public Library downststairs. Build & create based on optional themes. Legos provided! – 380 A Ave – More Info :  CLICK HERE

Sun, Jan 15, 2022 -Martin Luther King Jr Celebration- 2:00PM – Join the community at Lake Oswego High School or online for this tribute featuring D.J Avalanche as M.C., a keynote address from Dr Shirley Jackson, Portland State University Professor with specializations in race, social movement and gender, Mayor Joe Buck, musical performances by premier male vocalist Alonzo Chadwick, Sr, and artwork created by community members. This will be followed by a car rally. ~   2501 Country Club Rd – More Info + Links: CLICK HERE

Market Activity ~ Dec 12, 2022 – Jan 1, 2023

Happy new Year! Here is a look at the last 3 weeks during the time we all withdraw focus from the rest of our lives and enjoy the holidays with family and friends. Real Estate is always happening even during the holidays, and/but tends to slow down a bit too. We’ve got 7 properties that entered the market, 10 that moved to Pending status, and 19 Closed/Sold. Right now there are 91 homes available in Lake Oswego ranging from $285,000 to $6.75 mil.

Here is the breakdown according to RMLS:

NEW Dec 12, 2022 – Jan 1, 2023

AddressList PriceBedsBathsSFProp Type
3930 LAKE GROVE AVE, #3B$275,00021952CONDO
211 CERVANTES$359,900221100CONDO
6545 CHILDS RD$1,199,90064.13508DETACHD
13052 KNAUS RD$1,400,000433026DETACHD
2671 GLEN EAGLES RD$1,895,000334014DETACHD
4340 CHAPMAN WAY$2,450,000544058DETACHD
4101 SOUTHSHORE BLVD$5,500,00055.15938DETACHD

PENDING Dec 12, 2022 – Jan 1, 2023

AddressList PriceBedsBathsSFProp TypeCDOM
16 SUMMIT RIDGE CT$454,90022.11576CONDO93
1475 CORNELL ST$650,000321599DETACHD103
2424 GREENTREE RD$729,00032.11944DETACHD17
4920 MULHOLLAND DR$785,00032.12498ATTACHD62
2350 SOUTHSHORE BLVD$926,00042.12236DETACHD52
1612 LAKE FRONT RD$950,000321831DETACHD51
17291 CEDAR RD$1,245,00054.12872DETACHD130
13659 WESTLAKE DR$1,590,00043.14422DETACHD122
17484 BRYANT RD$1,675,00043.13615DETACHD152
141 FURNACE ST/Lower$1,699,00022.12249CONDO67

SOLD Dec 12, 2022 – Jan 1, 2023

AddressOpeningClosedBedsBathsSFProp TypeCDOM
45 EAGLE CREST DR, #407$245,000$203,00021.11056CONDO48
86 CERVANTES CIR, #10B$240,000$238,00021.2912CONDO45
38 CERVANTES CIR$249,500$240,00021.1912CONDO5
3930 LAKE GROVE AVE, #3B$275,000$296,00021952CONDO163
201 CERVANTES / Lower$325,000$325,00021.11247CONDO6
11 SUMMIT RIDGE CT$475,000$420,00022.11576ATTACHD208
4226 WOODSIDE CIR$537,500$503,000321578ATTACHD67
1273 BOCA RATAN DR$450,000$525,000321398ATTACHD111
17050 TUALATIN ST$749,000$770,000331905DETACHD31
17810 KELOK RD$845,000$830,000321557DETACHD27
7200 CHILDS RD$950,000$850,000442988DETACHD248
16678 INVERURIE RD$810,000$855,000422666ATTACHD507
13248 ROGERS RD$1,299,000$1,125,00053.13107DETACHD1
1451 GREENTREE CIR$950,000$1,125,00043.12328DETACHD1
3056 WEMBLEY PARK RD$1,350,000$1,280,00042.12611DETACHD9
13371 ATWATER LN$1,899,000$1,583,000434795DETACHD32
13258 AMBER PL$2,295,000$1,775,00044.13735DETACHD3
732 ELLIS AVE$2,385,000$2,095,00042.13482DETACHD60
1625 CLOVERLEAF RD$2,450,000$2,149,000443853DETACHD3
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) .