Lake Oswego Market Activity Report ~ Jan 4 – 10, 2010

The pace is picking up a bit. According to RMLS, there are 17 truly NEW properties in Lake Oswego this last week, 9 that went to PENDING status, and 8 that SOLD. Interesting to note that of the 17 NEW properties on the market, there are no shortsales in the bunch according to RMLS, and of the 9 PENDING sales, there were 2 short-sales, with another 2 short-sales out of the 8 SOLDS’s. There are a lot of good deals out there that do not fall into the short-sale or bank-owned categories, and Buyers seem to be looking for that “right” house instead of lasering in on short-sales in general. That said, it is hard to tell how many of the “NEW” properties could be teetering that direction. There is a whole different closing timeline to be considered if you get into that situation, so just be aware and consult with your Realtor.

One thing to be aware of is that we are not able to tell in an RMLS listing exactly how far above the “short-sale line” a property’s asking price may be.  There is always the possibility that a property could turn into a short-sale if the negotiated price with the Seller ends up lower than what they owe.  Just sayin’.  Talk with your Realtor about what that could mean for you if you think you may be offering an amount that could bring up this possibility in your transaction.

Anyway, here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Jan. 4—Jan. 10, 2010)

Address List Price # Beds # Baths Total SF Prop Type List Date
47 EAGLE CREST DR $99,500 1 1 666 CONDO 1/4/2010
668 MCVEY AVE $164,900 2 1 852 CONDO 1/4/2010
18025 TUALATA AVE $349,000 3 2 1,970 DETACHD 1/6/2010
2705 ORCHARD HILL PL $374,900 3 2.1 2,250 DETACHD 1/8/2010
2530 PALISADES CREST DR $376,200 4 2.1 2,774 DETACHD 1/7/2010
13213 SW 63 PL $399,900 4 3 2,604 DETACHD 1/6/2010
4651 HASTINGS PL $454,900 4 2.1 2,215 DETACHD 1/7/2010
1641 ASH ST $475,000 4 3 2,825 DETACHD 1/4/2010
16909 CRESTVIEW DR $524,900 4 3 2,553 DETACHD 1/7/2010
17930 MEADOWLARK LN $599,900 4 4 3,300 DETACHD 1/8/2010
72 CONDOLEA WAY $629,000 2 2.1 3,088 CONDO 1/7/2010
51 HILLSHIRE DR $679,000 4 2.2 4,306 DETACHD 1/5/2010
5234 WESTFIELD CT $724,900 4 3 3,252 DETACHD 1/4/2010
14435 UPLANDS DR $799,995 4 3.1 4,822 DETACHD 1/6/2010
17884 SW KELOK RD $949,000 4 3.1 4,124 DETACHD 1/4/2010
15444 BOONES WAY $998,500 3 2.1 3,364 ATTACHD 1/4/2010
5665 BONITA RD $1,279,900 2 1 1,500 DETACHD 1/9/2010

PENDING SALES (Jan. 4 – Jan. 10, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
668 MCVEY AVE $136,400.00 3 1.1 992 CONDO 95
4447 GOLDEN LN $229,000.00 2 2.1 1,980 ATTACHD 521
16546 BONAIRE AVE $239,900.00 3 1 1,064 DETACHD 82
2062 CEDAR CT $299,000.00 4 2 1,800 DETACHD 237
909 CUMBERLAND PL 299000 – 349000 4 3 2,716 DETACHD 43
3634 TEMPEST DR $424,900.00 4 3 2,931 DETACHD 3
4040 VIRGINIA WAY $524,900.00 3 2.1 2,623 DETACHD 243
5310 WASHINGTON CT $624,900.00 4 3.1 3,328 DETACHD 865
1839 PALISADES LAKE CT $899,900.00 4 3.1 4,570 DETACHD 166

SOLD (Jan. 4 – Jan. 10, 2010)

Address O/Price Sold Price # Beds # Baths Total SF Prop Type CDOM
26 WHEATHERSTONE $265,000 $210,000 3 2.1 1,692 CONDO 135
5686 WASHINGTON CT $275,000 $259,800 2 2 1,342 DETACHD 25
5956 FERNBROOK CIR $299,999 $295,000 4 2 1,376 DETACHD 370
4191 CHAPMAN WAY $409,000 $360,000 4 2.1 2,610 DETACHD 194
4 ICARUS LOOP $449,000 $445,000 4 2.1 2,743 DETACHD 57
17675 CARDINAL DR $599,000 $500,000 3 3 3,458 DETACHD 294
2200 PRESTWICK RD $1,095,000 $825,000 4 2.1 3,356 DETACHD 539
17345 BERGIS FARM DR $1,249,900 $1,062,500 4 3.2 5,199 DETACHD 665

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.

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