Market Activity for August 24th to 30th, 2009

It sure feels to me like summer is winding down with cooler evenings and the leaves starting to turn color.  However, that is not the case in the local housing market.  OK, I know it is still not as hot as it was before July of 2007, but compared to recent market activity, last week was HOT.  14 new listings, 12 pending sales, and 17 closed sales, what a relief it is to see houses selling at a greater number than they are coming on the market.

I see two particular items to make note of.  Out of 17 closed sales, 6 sold in 16 days or less.  That is fast.  It shows that when staged properly and priced right houses are selling in this market.  Buyers are smart.  They really look at what’s for sale and recognize value when they see it. Also worth noting is the sale at 13237 Knaus Rd.  Originally listed almost 2 years ago for $2,400,000, this house had 4909 square feet, Mt. Hood view, about an acre of land with a tennis court and a 4 car garage.  It became a short sale and closed for $750,750.  Wow!  That sale has earned a gold star from me for being the smokin’ hot deal of the summer.  Whoever bought it did very well.

So here is your market activity for last week:

(see below the tables for additional notes):

NEWLY LISTED (August 24—August 30, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address List Price # BR # BTHS Total SF Prop Type List Date CDOM
4615 LAKEVIEW BLVD $127,900 1 1 753 CONDO 8/30/2009
4000 CARMAN DR $128,900 1 1 767 CONDO 8/25/2009
4000 CARMAN DR $129,900 1 1 836 CONDO 8/24/2009
210 RIDGEWAY RD $192,500 1 1 778 CONDO 8/24/2009
192 RIDGEWAY RD $235,000 2 1 1,659 CONDO 8/24/2009
5958 KENNYCROFT WAY $264,900 3 2.1 1,450 DETACHD 8/27/2009
18690 DON LEE WAY $325,000 3 2 1,136 DETACHD 8/24/2009
1630 WOODLAND TER $399,900 4 2 2,131 DETACHD 8/25/2009
17366 CARDINAL DR 444000 4 2.1 2,107 DETACHD 8/24/2009
13395 VERMEER DR 485000 4 2.1 2,461 DETACHD 8/29/2009
1550 MAPLE ST 486000 3 2.1 2,136 DETACHD 8/28/2009
2525 DELLWOOD DR 549900 5 3 2,836 DETACHD 8/25/2009
460 BOCA RATAN DR 599000 3 2 2,238 DETACHD 8/26/2009
2335 OSWEGO GLEN CT 1150000 4 4 3,682 DETACHD 8/24/2009

PENDING SALES (August 24 -August 30, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address List Price # BR # BTHS Total SF Prop Type CDOM
4 TOUCHSTONE DR $106,000 2 2 984 CONDO 227
48 EAGLE CREST DR $164,900 2 2 1,443 CONDO 108
18121 TUALATA AVE $246,750 3 2 1,766 DETACHD 168
1057 C AVE $299,000 2 1 1,048 DETACHD 81
45 TANGLEWOOD DR $330,000 5 3.1 3,166 DETACHD 165
28 PREAKNESS CT $350,000 5 4 2,871 DETACHD 56
13899 MAJESTIC CT $375,000 3 2 2,357 DETACHD 86
17760 SW CARDINAL CT $395,000 3 2.1 2,147 DETACHD 60
17221 ROBB PL 427500 3 2 1,812 DETACHD 12
1250 Andrews RD 649000 4 2.1 3,137 DETACHD 277
5459 WESTFIELD CT 875000 5 3.1 3,670 DETACHD 23
511 6TH ST 896950 5 3.1 4,000 DETACHD 146

SOLD (August 24-August 30, 2009)

ADDRESS ORIG. PRICE SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
15210 BOONES WAY $175,000 $167,500 2 2 1,185 CONDO 50
4 TOUCHSTONE $179,900 $175,000 3 2.1 1,351 CONDO 23
750 1ST ST $264,500 $185,000 2 2 1,350 CONDO 327
12844 BOONES FERRY RD $257,000 $215,000 2 2.1 1,136 CONDO 135
4749 FIRWOOD RD $229,900 $222,000 3 1.1 1,440 DETACHD 13
6137 CHILDS RD $240,000 $236,500 3 1 946 DETACHD 10
17570 MARDEE AVE $324,950 $256,250 3 1 1,050 DETACHD 284
655 HEMLOCK ST $314,900 $307,000 3 1.1 1,352 DETACHD 16
802 SUNNY HILL DR 429000 410000 4 2.1 2,508 DETACHD 16
20 HOTSPUR ST 425000 417000 4 2.1 2,456 DETACHD 5
5807 RIDGETOP CT $589,900 474400 4 2.1 2,650 DETACHD 190
16439 LEXINGTON CT $514,950 479900 2 2 1,563 DETACHD 237
686 SUNNY HILL DR 569500 569500 4 2.1 2,300 DETACHD 67
2130 HILLSIDE CT 675000 675000 5 2.2 3,954 DETACHD 8
13237 KNAUS RD $2,400,00 750750 3 3.1 4,909 DETACHD 560
17178 CEDAR RD 1195000 1049000 5 3.1 4,209 DETACHD 92
16359 CHAPIN WAY 1429000 1259000 4 3.1 4,158 DETACHD 404

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.

2 Replies to “Market Activity for August 24th to 30th, 2009”

  1. Great blog! I came here from move2westlin.com Jody and Ron’s site. Jody recommended this site after I posted a question about LO prices.

    Do you ladies how roughly what percentage of the sales in the 500+K range involve people who recently moved here from California? California expats drove up the prices here. Local salaries cannot support such high prices unless the couple both work in professionals area (engineers or lawyers making combined 200K a year). But those kinds households are very few percentage wise.

    I’m just surprised that LO is holding up pretty well in the high end market better than west linn.

    David

  2. Hi David,
    Good question. My opinion is that the 500+K sales are more local buyer than people coming in from out ot state. That is not to say that there are not buyers from California. It’s just that, in my current experience, out of state buyers are taking a beating when they sell. They just simply aren’t coming into town with the big piles of cash that was so common prior to 2007. I am currently working with 2 different buyers from California. One has a house to sell that’s been on the market for a long time with no offers. One has sold and moved here but is renting while they watch and wait to see what prices will do.

    Most of what is selling is 500k or less. That part of the market appears to be fairly strong. But this past summer we’ve seen quite a few million dollar homes sell, including one that closed a couple of weeks ago for $2,000,000+, full price, in just 13 days.

    If I had to take a guess at percentage of buyers that are from California, I think I would guess about 10%. If I combined other out of state buyers that percentage would go to 50% (by my guess). And all of that means that at least 50% of the buyers are local. And I do mean local. It is just really, really common for people to buy into LO and then stay here and move up as their careers advance.

    I hope this answers your question. Thanks for reading the blotter!
    Dianne

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