I’m noticing a lot of the homes that have been on the market awhile are moving now. You’ll notice CDOM (Cumulative Days on Market) numbers below in Pendings and Solds such as 628, 343, 497, 243, 328, 247, 541, 582… In 100% of these cases, the price has dropped, and significantly. In our outline below, in the “Solds”, for instance, the “Opening Price” is the price at which the latest iteration of the Listing opened. One of these shows an increase, whereas the actual price drop from where the listing originally started was $279,000. Anyway, the takeaway here is to aim to price your home right at the start as close as possible to what the market shows it will bear… even if its tempting to go higher. You’ll be better off in the long run… and the process will be much shorter : ) ***This is in no way a criticism of the individual homes below or the people involved… (there are always individual circunstances not reflected here) but rather, just an observation & some thoughts based on the historical data as presented by RMLS, and my thoughts on general best practice.
Another thing I thought to be interesting is the number of what I call “Refreshed” Listings. I regularly go through the “New” Properties and weed out those that have been refreshed/given a new Listing Number (we Realtors often do this to help boost the marketing for a home a little bit), or that have been off the market less than 30 days. This helps me feel confident that our Property Blotter readers are really getting the scoop on actual “New” properties entering the market. Out of the 24 Properties listed as “New” this week, a full 9 of those were “Refreshed” Listings (thus, the only 15 listed for you below as really New). Here is some interesting info I put together from a week’s data snapshot as I was looking to see if there are any trends for the Properties that end up being Refreshed:
| Prev. DOM | Asking Price Drop from Original |
| 128 | |
| 88 | $40,000 |
| 192 | $74,000 |
| 36 | $73,000 |
| 109 | $29,950 |
| 84 | $20,400 |
| 662 | $71,000 |
| 108 | $5,000 |
| 22 |
Last week in Lake Oswego we saw 15 New properties enter the market, 25 move to Pending status, and 23 “Closed”/Sold.
Following is the breakdown for you according to RMLS for last week:
NEW on Mkt (June 8-14, 2015)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 100 KERR PKWY #42 | $100,000 | 2 | 1.1 | 822 | CONDO |
| 100 KERR PKWY #35 | $109,900 | 1 | 1 | 617 | CONDO |
| 4433 THUNDER VISTA LN | $274,900 | 2 | 2.1 | 1980 | CONDO |
| 4965 SUNTREE LN | $399,900 | 3 | 2.1 | 1572 | DETACHD |
| 16946 LOWER MEADOWS DR | $450,000 | 3 | 2.1 | 1795 | DETACHD |
| 1559 WORTHINGTON ST | $459,900 | 4 | 2 | 2016 | DETACHD |
| 5045 GREENSBOROUGH CT | $579,900 | 4 | 2.1 | 2107 | DETACHD |
| 17721 OVERLOOK CIR | $599,900 | 4 | 2.1 | 3172 | DETACHD |
| 16750 PHANTOM BLUFF CT | $614,500 | 3 | 3 | 2267 | DETACHD |
| 18034 WESTVIEW DR | $725,000 | 4 | 2.1 | 3562 | DETACHD |
| 3232 WEMBLEY PARK RD | $749,900 | 4 | 3.1 | 2805 | DETACHD |
| 251 D AVE | $849,000 | 4 | 2.2 | 2635 | DETACHD |
| 2024 PALISADES TERRACE DR | $975,000 | 4 | 3.1 | 4819 | DETACHD |
| 990 TERRACE DR | $1,075,000 | 4 | 2.1 | 3740 | DETACHD |
| 706 5TH ST | $1,099,900 | 4 | 2.1 | 2730 | DETACHD |
PENDING SALES (June 8-14, 2015)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 4626 LOWER DR #Main | $132,000 | 2 | 1.1 | 1260 | CONDO | 22 |
| 47 EAGLE CREST DR #18 | $136,950 | 2 | 1 | 932 | CONDO | 5 |
| 208 OSWEGO SMT #Upper | $169,900 | 2 | 2 | 1383 | CONDO | 4 |
| 1790 CONIFER DR | $325,000 | 2 | 1 | 1003 | DETACHD | 15 |
| 5547 WASHINGTON CT | $349,900 | 4 | 2 | 1300 | DETACHD | 24 |
| 6461 SW EDGEWOOD ST | $384,900 | 4 | 2.1 | 1950 | DETACHD | 72 |
| 6352 SW DAWN ST | $389,000 | 3 | 2 | 1684 | DETACHD | 3 |
| 14383 HOLLY SPRINGS RD | $437,990 | 5 | 3 | 2238 | DETACHD | 82 |
| 1448 CEDAR ST | $440,000 | 4 | 3 | 2544 | DETACHD | 628 |
| 18581 WAXWING WAY | $469,000 | 4 | 2.1 | 2076 | DETACHD | 24 |
| 15941 INVERURIE RD | $495,000 | 4 | 2 | 2611 | DETACHD | 14 |
| 17902 MEADOWLARK LN | $514,900 | 3 | 2.1 | 1950 | DETACHD | 38 |
| 27 BECKET ST | $549,000 | 3 | 2 | 2724 | DETACHD | 106 |
| 2251 SUMMIT DR | $599,000 | 5 | 3 | 2676 | DETACHD | 118 |
| 760 TIMBERLINE DR | $599,900 | 4 | 3 | 3058 | DETACHD | 12 |
| 4141 BIRDBILL CT | $675,000 | 5 | 2.1 | 2912 | DETACHD | 8 |
| 1770 HEADLEE LN | $699,000 | 2 | 3 | 2434 | DETACHD | 112 |
| 5728 BAY CREEK DR | $799,000 | 5 | 2.1 | 3504 | DETACHD | 5 |
| 5590 KODERRA AVE | $828,800 | 4 | 2.1 | 3289 | DETACHD | 10 |
| 1917 PALISADES LAKE CT | $899,000 | 4 | 2.1 | 3852 | DETACHD | 343 |
| 50 BRIARWOOD RD | $949,000 | 6 | 6 | 6000 | DETACHD | 497 |
| 4579 UPPER DR | $1,198,000 | 4 | 3.1 | 3720 | DETACHD | 20 |
| 1539 LAKE FRONT RD | $1,200,000 | 4 | 3.1 | 3385 | DETACHD | 243 |
| 1135 LAKE FRONT RD | $2,150,000 | 4 | 4 | 4245 | DETACHD | 113 |
| 1199 FAIRWAY RD | $2,799,000 | 4 | 4.2 | 5527 | DETACHD | 328 |
SOLD (June 8-14, 2015)
| Address | Opening Price | Closed Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 47 Eagle Crest DR #43 | $124,900.0 | $115,000.0 | 2 | 1 | 932 | CONDO | 25 |
| 4630 LOWER DR #Lower | $137,000.0 | $131,500.0 | 2 | 1.1 | 1260 | CONDO | 5 |
| 4000 CARMAN DR #G101 | $149,900.0 | $152,000.0 | 2 | 2 | 869 | CONDO | 12 |
| 4 TOUCHSTONE #78 | $160,000.0 | $166,000.0 | 3 | 2.1 | 1351 | CONDO | 151 |
| 5860 LAKEVIEW BLVD | $289,900.0 | $289,900.0 | 2 | 1.1 | 1435 | DETACHD | 14 |
| 6288 SEVILLE AVE | $295,000.0 | $302,500.0 | 3 | 2 | 1470 | DETACHD | 3 |
| 1422 ASH ST | $337,500.0 | $340,000.0 | 4 | 3 | 2583 | DETACHD | 137 |
| 13985 SUNDELEAF DR | $359,990.0 | $352,000.0 | 3 | 2 | 1278 | DETACHD | 23 |
| 4283 WOODSIDE CIR | $359,900.0 | $359,900.0 | 4 | 2 | 2032 | ATTACHD | 10 |
| 3101 WEMBLEY PARK RD | $319,000.0 | $375,000.0 | 2 | 1 | 858 | DETACHD | 3 |
| 17390 CARDINAL DR | $425,000.0 | $425,000.0 | 3 | 2 | 1585 | DETACHD | 2 |
| 19 MONTICELLO DR | $479,900.0 | $450,500.0 | 6 | 3 | 3678 | DETACHD | 27 |
| 18530 BRYANT RD | $514,995.0 | $521,125.0 | 3 | 2.1 | 2400 | DETACHD | 14 |
| 14309 MEADOW GRASS ST | $599,999.0 | $610,000.0 | 4 | 2.1 | 2620 | DETACHD | 1 |
| 221 6TH ST | $625,000.0 | $619,250.0 | 3 | 2 | 1508 | DETACHD | 14 |
| 15 NANSEN SMT | $685,000.0 | $647,100.0 | 3 | 2.1 | 3098 | DETACHD | 17 |
| 1210 WELLS ST | $719,000.0 | $656,000.0 | 6 | 3.1 | 4464 | DETACHD | 247 |
| 3180 WESTVIEW CT | $875,000.0 | $840,000.0 | 5 | 3.1 | 4216 | DETACHD | 14 |
| 15195 LILY BAY CT | $898,000.0 | $850,000.0 | 4 | 2.1 | 4099 | DETACHD | 66 |
| 17970 ROYCE WAY | $1,125,000.0 | $1,000,000.0 | 5 | 4.1 | 5355 | DETACHD | 34 |
| 1850 ATHERTON DR | $1,179,000.0 | $1,125,000.0 | 3 | 2.1 | 4825 | DETACHD | 581 |
| 2410 SUMMIT CT | $1,595,000.0 | $1,550,000.0 | 3 | 3.1 | 3750 | DETACHD | 0 |
| 1495 OAK TER | $1,995,000.0 | $2,000,000.0 | 4 | 4 | 3983 | DETACHD | 542 |
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.