October Numbers- Portland Real Estate Stats + LO

This is our monthly look at the overall Portland area and neighborhoods including Lake Oswego broken out below:

Overview/Fluctuations ~ October Market Data: It’s fascinating to me as I take a look at this enigmatic market. Assessing neighborhoods (or areas of Portland) is of more interest to me than “overall” numbers as I can see closer to the ground that way. I added a couple columns so that we can look at the previous month/September vs October as that is where we can truly gauge the ultra-current local shifts. As much as I hear speculations about Buyer abstinence & power shifts in the market, I see that Inventory is up, and prices are not really doing anything dramatic. Some neighborhoods actually saw price increases in October over September, and the Median prices holding show that when push comes to shove, the price ranges people had in mind in Sept held firm in October. This surprises me a little, and/but is heartening in the sense that it may indicate: folks are moving ahead w/life plans regardless, prices have stabilized, and perhaps an & an understanding that rates are temporary/there are options to change them down the road a bit.

Rates: “Inflation is showing signs of peaking which is good news for mortgage rates. 30-year fixed rates are in the mid 6’s right now.” Gary Boyer, Regional VP, Directors Mortgage

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

  • There were 2,513 New Listings in Oct 2022 down 22.2% from 3,232 in Oct 2021 and down 20.2% from the previous month/Sept’s 3,151.
  • At 1,955 Oct 2022’s Closed Sales (Solds) are down 37.5% from Oct 2021’s 3,129, and down 12.6% from the previous month/Sept 2022’s total of 2,237.
  • At 1,835 Oct 2022’s Pending Sales (accepted Offers) are down 42.4% from Oct 2021’s 3,187, and also down 8.4% from the previous month/Sept’s total of 2,003.
  • The Average Sale Price in October 2022 of, $592,000 is up $16,800 from last year/Oct 2021’s $575,200, and down $6,700 from the previous month/Sept’s $598,700.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in October 2022 of $537,000 is up $21,000 over last year/Oct 2021’s $516,000, and down $11,000 from the previous month’s $548,000.

LAKE OSWEGO (October 2022):

177 Active Listings (Sep 208)
101 New Listings  (Sep 143)
93 Pending Sales (Sep 102)
96 Closed Sales  (Sep 104)
Average Sale Price for Aug: $933,800 (Sep $959,100)
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.
38 Days on the Market   (Sep 37)

Happy Thanksgiving

Dianne and I wish you and yours a holiday filled with those you love and all that makes you feel warmth and appreciation. We are so grateful to have you, this community and each other this holiday season and always.

Market Activity ~ Nov 14-20, 2022

Last week in Lake Oswego 11 properties entered the market, 10 move to Pending status, and 11 Closed/Sold. Right now there are 120 properties available ranging from $220,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Nov 14-20, 2022

AddressList Price# Beds# BathsSFProp Type
4 TOUCHSTONE #147$200,00032.11351CONDO
86 KINGSGATE RD, G102$295,00022849CONDO
1273 BOCA RATAN DR$450,000321398ATTACHD
15960 SW LAKE FOREST BLVD$624,900311080DETACHD
3 PERICLES$725,00042.12617DETACHD
6450 FROST ST$775,00042.12216DETACHD
17850 PILKINGTON RD$875,00032.13084DETACHD
1451 GREENTREE CIR$950,00043.12328DETACHD
4050 VIRGINIA WAY$999,000321344DETACHD
765 10TH ST$1,225,000332526DETACHD
19494 Lorna LN$4,189,00044.24806DETACHD

PENDING Nov 14-20, 2022

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
4 TOUCHSTONE #147$200,00032.11351CONDO0
86 CERVANTES CIR #10-B$230,00021.2912CONDO48
112 OSWEGO SMT/Upper$325,000221212CONDO13
1273 BOCA RATAN DR$450,000321398ATTACHD3
4226 WOODSIDE CIR$535,000321578ATTACHD45
3 PERICLES$725,00042.12617DETACHD2
6450 FROST ST$775,00042.12216DETACHD3
5677 CHARLES CIR$1,225,00042.12962DETACHD97
13371 ATWATER LN$1,899,000434795DETACHD27
16885 FERNWOOD DR$2,149,00043.13753DETACHD43

SOLD Nov 14-20, 2022

AddressOpeningClosed# Beds# BathsTotal SFProp TypeCDOM
17552 DEEMAR WAY$475,000$535,00031.11050DETACHD4
15235 BOONES WAY$624,900$625,000321686ATTACHD5
1105 HALLINAN CIR$724,900$699,000321612DETACHD16
2 CREEKSIDE TER$849,900$849,90042.12906DETACHD7
12 WALKING WOODS DR$749,950$850,000332224DETACHD2
860 LAKE FOREST DR$998,000$864,00052.12025DETACHD78
14400 TRILLIUM CT$839,000$900,00042.13193DETACHD4
625 3RD ST$1,050,000$1,090,00032.12645ATTACHD4
13218 DEERFIELD CT$1,100,000$1,160,00042.12860DETACHD5
13504 STREAMSIDE DR$1,279,000$1,265,00042.13486DETACHD94
3940 CANAL RD$1,500,000$1,500,00043.13983DETACHD2
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) .

Market Activity ~ Oct 31- Nov 6, 2022

Last week Lake Oswego saw 11 properties enter the market, 28 move to Pending status, and 8 Sold/Closed. Right now there are 119 homes available in Lake Oswego ranging from $235,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Oct 31-Nov 6, 2022

AddressList PriceBedsBathsSFProp Type
4 TOUCHSTONE #105$210,00022984CONDO
38 CERVANTES CIR$249,50021.1912CONDO
3433 MCNARY PKWY #806$305,00022.11136CONDO
112 OSWEGO SMT$325,000221212CONDO
210 S STATE ST #5$365,000211339CONDO
16200 PACIFIC HWY #5$530,000221207CONDO
5 GOYA ST$680,00042.12586DETACHD
643 4TH ST$925,000221453DETACHD
2020 WEMBLEY PARK RD$949,000321712DETACHD
3056 WEMBLEY PARK RD$1,350,00042.12611DETACHD
17327 WESTVIEW DR$2,495,000444008DETACHD

PENDING Oct 31-Nov 6, 2022

AddressList PriceBedsBathsSFProp TypeDays
17552 DEEMAR WAY$475,00031.11050DETACHD4
1728 BOCA RATAN DR$509,000321485ATTACHD2
15235 BOONES WAY$624,900321686ATTACHD5
1105 HALLINAN CIR$699,000321612DETACHD16
12 WALKING WOODS DR$749,950332224DETACHD2
17608 SYDNI CT$775,00042.12466ATTACHD126
18706 BRYANT RD$789,90032.12489DETACHD6
14400 TRILLIUM CT$839,00042.13193DETACHD4
17810 KELOK RD$845,000321557DETACHD9
314 2ND ST$850,00033.11814CONDO9
860 LAKE FOREST DR$889,00052.12025DETACHD78
72 TOUCHSTONE$899,900433908DETACHD28
4051 VIRGINIA WAY$999,000421903DETACHD49
625 3RD ST$1,050,00032.12645ATTACHD4
13218 DEERFIELD CT$1,100,00042.12860DETACHD5
5524 KODERRA AVE$1,100,00032.12957DETACHD113
5677 CHARLES CIR$1,225,00042.12962DETACHD69
1454 GLENMORRIE DR$1,350,00032.13345DETACHD7
5550 JEAN RD$1,499,00044.13001DETACHD107
3940 CANAL RD$1,500,00043.13983DETACHD2
853 E AVE$1,850,00033.12839DETACHD22
17312 BERGIS FARM DR$1,920,00044.24804DETACHD0
285 BERWICK RD$1,950,00033.12560DETACHD3
16873 CANYON DR$1,980,000443632DETACHD48
4241 COBB WAY$1,999,00043.13292DETACHD26
21 D #4$2,067,00022.12431CONDO333
1625 CLOVERLEAF RD$2,199,000443853DETACHD67
707 LAKE SHORE RD$2,795,00033.12992DETACHD112

SOLD Oct 31-Nov 6, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
1172 BOCA RATAN DR$580,000$580,000321611ATTACHD20
131 DEL PRADO ST$665,000$715,000332145DETACHD3
490 BOCA RATAN DR$849,000$770,000322108DETACHD95
19125 OLSON AVE$1,125,000$1,125,00042.13828DETACHD3
1 JUAREZ ST$1,245,000$1,130,00032.13388DETACHD23
17637 WOODHURST PL$1,299,000$1,267,00054.14833DETACHD106
732 LAKE FOREST DR$1,500,000$1,600,000322865DETACHD3
842 6TH ST$1,850,000$1,875,00043.13840DETACHD5
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) .

Vote in Lake Oswego!

Well, it’s that time again! In Oregon we enjoy a time-tested voting system including mailed ballots, email notifications/tracking and convenient dropboxes located in most neighborhoods. Lake Oswego’s Drop Box locations are:

– City Hall, 380 A Avenue – located on the upper parking lot near the main (A Avenue) entrance. 

– Westlake Park, 14165 Bunick Drive – located south of the covered park area on the lane that connects to Melrose Street. These boxes are secure, available 24/7 & will remain open till 8PM on Election Day, Tues Nov 8th.

Happy voting everyone!

Market Activity ~ Oct 17-23, 2022

Last week 13 properties entered the market, 7 moved to Pending status, and 16 Sold/Closed. Right now there are 120 properties ranging from $225,000 to $11.5 mil available in lake Oswego.

Here is the breakdown according to RMLS:

NEW Oct 17-23, 2022

AddressList PriceBedsBathsSFProp Type
16250 PACIFIC HWY, #81$338,00011841CONDO
15235 BOONES WAY$624,900321686ATTACHD
6426 FROST ST$699,900432276DETACHD
18706 BRYANT RD$789,90032.12489DETACHD
14400 TRILLIUM CT$839,00042.13193DETACHD
17810 KELOK RD$845,000321557DETACHD
314 2ND ST$850,00033.11814CONDO
15684 BOONES WAY$850,00032.12425DETACHD
17920 MEADOWLARK LN$1,295,00042.12758DETACHD
4039 CANAL WOODS CT$1,495,00043.14178DETACHD
523 LAUREL ST, Lot 3$1,500,000432620DETACHD
13371 ATWATER LN$1,899,000434795DETACHD
285 BERWICK RD$1,950,00033.12560DETACHD

PENDING Oct 17-23. 2022

AddressList PriceBedsBathsTotal SFProp TypeDays
131 DEL PRADO ST$665,000332145DETACHD3
72 TOUCHSTONE$899,900433908DETACHD28
13218 DEERFIELD CT$1,100,00042.12860DETACHD5
5677 CHARLES CIR$1,225,00042.12962DETACHD69
1454 GLENMORRIE DR$1,350,00032.13345DETACHD7
285 BERWICK RD$1,950,00033.12560DETACHD3
16873 CANYON DR$1,980,000443632DETACHD48

SOLD Oct 17-23, 2022

AddressOpeningClosedBedsBathsTotal SFProp TypeDays
4463 THUNDER VISTA LN$438,000$438,00022.11741CONDO2
30 GREENRIDGE CT$550,000$474,04531.11946ATTACHD4
1988 BONNIEBRAE DR$469,000$500,000321499ATTACHD10
113 TOUCHSTONE TER$510,000$505,00032.12104ATTACHD5
5270 CHINOOK CT$495,000$525,000321391DETACHD5
15450 STEPHANIE CT$580,000$550,00032.11662ATTACHD59
16074 LAKE FOREST BLVD$599,950$557,400321354DETACHD130
66 WHEATHERSTONE, #35$599,900$600,00043.12465CONDO2
8 MOUNTAIN CIR$629,000$629,000321316ATTACHD27
2050 SOUTHSHORE BLVD$780,000$795,00032.11629DETACHD5
38 MORNINGVIEW CIR$825,000$808,000432408DETACHD9
2711 Greentree RD$969,900$855,000433241DETACHD154
17423 SCHALIT WAY$998,900$1,060,00042.12442DETACHD85
4744 CAMBRIDGE CT$985,000$1,105,00032.12856ATTACHD66
2420 PALISADES CREST DR$1,599,900$1,450,00042.13583DETACHD3
13615 WESTLAKE DR$1,790,000$1,500,00044.14396DETACHD34
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) .

Sept Numbers- Portland Real Estate Stats + LO

Here is your snapshot of Real Estate Activity in the Portland Metro Area-Sept 2022: (LO broken out below)

Comparing the first nine months of 2022 to the same period in 2021, the Average Sale price has increased 8.6% overall and Median Sale price increased 8.9%. Sept volume in all categories (New, Pending & Sold) decreased from last year and the previous month, whereas in Sept of last year New Listings and Pending Sales actually increased. That said, this is now officially “Fall” and slowing down is normal. Inventory is up. Every year I especially tell Buyers that this is the absolute best time of year to buy in Portland, as Sellers tend to be more amenable to “discussions”, and this year it’s particularly pertinent. I’m also advising my New Listing clients to get their properties on the market now in order to get them Sold prior to the holidays setting in. In all cases, we know what is happening in the market right now and can plan around that, whereas we don’t know what will be happening in the Spring, for instance. Rates: “Currently 30-year fixed rates are in the mid 6% range. Inflation pressures are persisting, however we have finally seen some leveling off on that front.” Gary Boyer, Regional VP, Directors Mortgage

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

  • There were 3,151 New Listings in Sept 2022 down 16.2% from 3,760 in Sept 2021 and down 1.7% from the previous month/August’s 3,209.
  • At 2,237 Sept 2022’s Closed Sales (Solds) are down 29.4% from Sept 2021’s 3,167, and down 13.3% from the previous month/August 2022’s total of 2,581.
  • At 2,003 Sept 2022’s Pending Sales (accepted Offers) are down 36.8% from Sept 2021’s 3,170, and also down 20.8% from the previous month/August’s total of 2,530.
  • The Average Sale Price in September 2022 of, $598,700 is up $27,200 from last year/Sept 2021’s $571,500, and down $9,000 from the previous month/August’s $607,700.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in September 2022 of $548,00 is up $38,000 over last year/Sept 2021’s $510,000, and is nearly the same as the previous month’s $548,400.

LAKE OSWEGO (September 2022):

208 Active Listings (Aug 205)
143 New Listings  (Aug 151)
102 Pending Sales (Aug 117)
104 Closed Sales  (Aug 120)
Average Sale Price for Aug: $959,100 (Aug $950,000)
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.
37 Days on the Market   (Aug 25)

Market Activity ~ Oct 3-9, 2022

Last week Lake Oswego saw 15 properties enter the market, 11 move to Pending status, and 15 Sold/Closed. There are currently 126 available properties ranging from $169,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Oct 3-9, 2022

AddressList PriceBedsBathsSFProp Type
201 CERVANTES$325,00021.11247CONDO
1988 BONNIEBRAE DR$469,000321499ATTACHD
4226 WOODSIDE CIR$537,500321578ATTACHD
625 3RD ST$1,050,00032.12645ATTACHD
1685 FERNWOOD DR$1,325,000532592DETACHD
853 E AVE$1,850,00033.12839DETACHD
4241 COBB WAY$1,949,00043.13292DETACHD
17663 HILL WAY$1,999,000433375DETACHD
16885 FERNWOOD DR$2,149,00043.13753DETACHD
2320 GLEN HAVEN RD$2,385,000443875DETACHD
915 OAK TER$2,435,000443816DETACHD
3331 FIR RIDGE RD$2,499,000443771DETACHD
1012 LAKE FRONT RD$3,899,00044.14735DETACHD
1776 SKYLAND DR$4,975,00044.15034DETACHD
1455 CHANDLER RD$5,475,00056.15588DETACHD

PENDING Oct 3-9, 2022

AddressList PriceBedsBathsSFProp Type
201 CERVANTES$325,00021.11247CONDO
1988 BONNIEBRAE DR$469,000321499ATTACHD
4226 WOODSIDE CIR$537,500321578ATTACHD
625 3RD ST$1,050,00032.12645ATTACHD
1685 FERNWOOD DR$1,325,000532592DETACHD
853 E AVE$1,850,00033.12839DETACHD
4241 COBB WAY$1,949,00043.13292DETACHD
17663 HILL WAY$1,999,000433375DETACHD
16885 FERNWOOD DR$2,149,00043.13753DETACHD
2320 GLEN HAVEN RD$2,385,000443875DETACHD
915 OAK TER$2,435,000443816DETACHD
3331 FIR RIDGE RD$2,499,000443771DETACHD
1012 LAKE FRONT RD$3,899,00044.14735DETACHD
1776 SKYLAND DR$4,975,00044.15034DETACHD
1455 CHANDLER RD$5,475,00056.15588DETACHD

SOLD Oct 3-9, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
1 ORIOLE LN$625,000$565,00032.12317DETACHD101
1695 HALLINAN ST$729,000$650,000432763DETACHD11
18040 BELMORE AVE$749,900$695,000322077DETACHD37
15443 SW MEADOWLARK CT$824,900$709,500321895DETACHD17
2190 FERNWOOD CIR$735,000$710,000532507DETACHD15
67 TANGLEWOOD DR$839,900$764,00042.13149DETACHD56
17377 MARJORIE AVE$995,000$870,000432651DETACHD20
18100 BRYANT RD$990,000$890,00031.11425DETACHD13
18010 GIMLEY CT$1,200,000$1,090,00053.13652DETACHD53
17244 FERNWOOD DR$1,150,000$1,115,00042.12617DETACHD23
2777 GLEN HAVEN RD$1,200,000$1,127,50032.12560DETACHD102
5786 WASHINGTON CT$1,199,000$1,209,000433186DETACHD6
2211 FERNWOOD CIR$1,595,000$1,540,000533431DETACHD17
18735 BRYANT RD$2,695,000$2,300,00043.15544DETACHD118
16511 MAPLE CIR$3,800,000$3,500,00043.13356DETACHD30
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) .

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) .