Market Activity ~ Sept 6-12, 2021

This last week in Lake Oswego there were 11 New homes entering the market, 18 moving to Pending status (accepted Offers), and 19 that Closed/Sold.

Right now there are 93 lovely properties available in Lake Oswego!

Here is the latest breakdown according to RMLS:

NEW Sept 6-12, 2021

AddressList Price# Beds# BathsTotal SFProp Type
100 KERR PKWY  #2$199,00022822CONDO
316 CERVANTES CIR  #316$220,00021832CONDO
4000 CARMAN DR, C44$260,00022866CONDO
68 WHEATHERSTONE CT$549,90043.12465CONDO
26 PREAKNESS CT$663,00021.11654ATTACHD
16624 ROOSEVELT AVE$699,900322802DETACHD
4085 BUCK BRUSH LN$729,000322489DETACHD
4104 LAKEVIEW BLVD$849,000422244DETACHD
180 IRON MOUNTAIN BLVD$1,495,000543378DETACHD
1839 PALISADES LAKE CT$1,499,00043.14570DETACHD
3330 CEDAR CT$1,649,00043.14467DETACHD

PENDING Sept 6-12, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
79 OSWEGO SMT / Upper$239,000221212CONDO2
200 BURNHAM RD   #402$355,000221305CONDO10
210 S STATE ST  #9$525,00032.11642CONDO19
12572 BOONES FERRY RD$525,000421577DETACHD113
17902 TAMARA AVE$569,900422082DETACHD59
17830 SW TUALATA AVE$595,000321373DETACHD30
825 OAK ST$595,000321335DETACHD4
656 3RD ST$675,000321200DETACHD5
12363 CLARA LN$699,999311390DETACHD3
1571 WOODLAND TER$715,000322400DETACHD121
20 DA VINCI ST$799,900533089DETACHD1
48 SPINOSA$799,90043.12848DETACHD33
6413 MCDUFF CT$1,035,00032.13091DETACHD3
17151 WALL ST$1,099,000644141DETACHD79
5349 CARMAN GROVE LN$1,298,000432903DETACHD22
2420 PRESTWICK RD$1,420,00063.13723DETACHD73
4715 FIRWOOD RD$1,452,561433586DETACHD4
2088 CREST DR$6,995,00046.18259DETACHD91

SOLD Sept 6-12, 2021

AddressOpeningClosed# Beds# BathsTotal SFProp TypeCDOM
12826 Boones Ferry RD$445,000$434,00022.11182CONDO6
15115 QUARRY RD$725,000$650,000432865DETACHD19
457 LAUREL ST$650,000$660,000332264DETACHD14
6666 SW CHILDS RD$750,000$725,000312408DETACHD8
12 MORNINGVIEW LN$730,000$730,00032.12718ATTACHD4
13366 AUBURN CT$750,000$735,00032.12492ATTACHD11
49 DA VINCI ST$739,000$772,000322351DETACHD26
1430 LARCH ST$815,000$800,000332312DETACHD7
5466 BAY CREEK DR$789,000$820,000332535DETACHD4
1672 HIGHLAND DR$699,900$825,000421867DETACHD4
18360 TUALATA AVE$845,000$891,00052.12703DETACHD10
1739 PALISADES TERRACE DR$1,095,000$975,00042.13654DETACHD33
16750 PHANTOM BLUFF CT$899,000$975,000332267DETACHD2
4750 UPPER DR$1,149,000$1,035,00053.13091DETACHD125
2011 RIDGEWOOD LN$999,900$1,050,00053.13115DETACHD75
4721 FIRWOOD RD$1,425,000$1,449,995433236DETACHD0
2950 GREENTREE RD$1,495,000$1,495,00043.13691DETACHD8
2167 WEMBLEY PARK RD$1,750,000$1,780,00043.14015DETACHD9
13217 AMBER PL  #1`$1,650,000$2,000,00043.13861DETACHD474

History of Labor Day

Labor Day pays tribute to the contributions and achievements of American workers and is traditionally observed on the first Monday in September. It was created by the labor movement in the late 19th century and became a federal holiday in 1894 under President Grover Cleveland.

Peter J. McGuire, a carpenter and labor union leader and Matthew Maguire were the two who who came up with the idea for Labor Day. They thought American workers should be honored with their own day. Peter was the vice president of the American Federation of Labor and Matthew was secretary of the Central Labor Union in New York. Some stories say these men with similar last names were actually brothers. In any case, they chose a date midway between the Fourth of July and Thanksgiving. The weather would be ideal for parades and picnics, two events we still enjoy on Labor Day today. They proposed his idea to New York’s Central Labor Union early in 1882, and they thought the holiday was a good idea, too. This holiday was in response to a series of worker strikes in the late 19th century as workers protested against unfair working conditions.

The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.

***Data from: earthsky.org, history.com, americaslibrary.com, Wikipedia, NY Times

Market Activity ~ Aug 30-Sept 5, 2021

This last week in Lake Oswego we had 12 Properties enter the market, 27 go Pending (Accepted Offers) and 30 Closed/Sold. There are 80 wonderful homes for sale in Lake Oswego right now.

NEW Aug 30-Sept 5, 2021

AddressList Price# Beds# BathsTotal SFProp Type
4 TOUCHSTONE  #157$224,90022984CONDO
200 BURNHAM RD  #402$355,000221305CONDO
750 1ST ST / Upper$615,900221350CONDO
656 3RD ST$675,000321200DETACHD
6472 SW DAWN ST$695,000321032DETACHD
4848 LOWER DR$822,000432531DETACHD
658 BOCA RATAN DR$967,00043.13593DETACHD
17001 WESTVIEW DR$968,500322005DETACHD
6413 MCDUFF CT$1,035,00032.13091DETACHD
16164 PARKER RD #1$1,395,000543257DETACHD
548 4TH ST$1,524,90034.13186ATTACHD
1913 CHERYL CT$1,895,00044.15341DETACHD

PENDING Aug 30-Sept 5, 2021

Address List Price# Beds# BathsTotal SFProp TypeCDOM
100 KERR PKWY, #31$185,00011617CONDO5
100 KERR PKWY, #43$214,90022823CONDO41
36 CRESTFIELD CT / Upper$279,90021921CONDO48
4000 CARMAN DR  E70$299,90022974CONDO3
4652 LOWER DR / Upper$350,00021.11170CONDO4
5101 JEAN RD$475,000311012DETACHD5
16691 BONAIRE AVE$499,900311110DETACHD3
5711 MCEWAN RD$565,000321467DETACHD10
8 BOLIVAR ST$640,000222149DETACHD3
16 WALKING WOODS DR$649,00032.12897DETACHD11
14 PREAKNESS CT$669,00022.12190ATTACHD6
3065 ROYCE WAY$750,00042.12726DETACHD46
15509 PARTRIDGE DR$789,900432299DETACHD3
4545 BLACK FOREST CT$799,00042.12168DETACHD2
759 TIMBERLINE DR$835,000432928DETACHD70
19431 KOKANEE CT$849,90042.12214DETACHD4
17994 SAINT CLAIR DR$900,00052.13916DETACHD3
920 YORK RD$985,000432026DETACHD2
2936 SW ORCHARD HILL PL$989,00042.14089DETACHD61
4261 COBB WAY$1,089,000432362DETACHD1
13536 STREAMSIDE DR$1,150,00043.13033DETACHD7
15776 INVERURIE RD$1,299,000322352DETACHD74
14495 PFEIFER DR$1,299,900433944DETACHD21
4531 WEST RD$1,429,00033.13926DETACHD54
16650 FIR LN$1,898,00043.13860DETACHD8
929 CUMBERLAND RD$2,495,00056.15129DETACHD3
1199 FAIRWAY RD$3,498,00044.25527DETACHD33

SOLD Aug 30-Sept 5, 2021

AddressOpeningClosedBedsBathsSFProp TypeDays
4 TOUCHSTONE  #69$220,000$220,00032.11351CONDO33
5058 FOOTHILLS DR, A$420,000$418,000321252CONDO8
1 PEACOCK PL$529,000$500,00032.11336DETACHD30
17500 PILKINGTON RD$460,000$500,000211050DETACHD8
13198 PETERS RD$695,000$677,75032.12630DETACHD29
605 7TH ST$775,000$750,000212035DETACHD3
4 SHERWOOD CT$825,000$757,00042.12870DETACHD16
16901 LAKERIDGE DR$729,000$762,500432080DETACHD3
1033 SPRUCE ST$765,000$775,00032.11663DETACHD4
18260 Indian Creek DR$759,000$790,000322082DETACHD11
17730 MARYLBROOK DR$850,000$840,00032.12951DETACHD14
17211 ROBB PL$790,000$840,000322085DETACHD5
491 COUNTRY CLUB RD$865,000$850,000422486DETACHD97
14121 REDWOOD CT$969,900$867,50043.12827DETACHD24
4987 BILFORD LN$799,900$890,00032.12302DETACHD5
19531 RIVER RUN DR$899,900$975,00042.12440DETACHD5
13060 SW ELK ROCK RD$1,178,000$1,100,000433681DETACHD9
13207 DEERFIELD CT$1,175,000$1,125,00043.13801DETACHD35
17543 LAKE HAVEN DR$1,185,000$1,125,00042.12333DETACHD9
12730 ADRIAN CT$1,295,000$1,178,00042.13014DETACHD24
5428 ROYAL OAKS DR$1,200,000$1,200,00063.14994DETACHD7
4210 VIRGINIA WAY$1,549,000$1,365,00044.13508DETACHD58
151 3RD ST #1$1,499,000$1,475,00032.13278CONDO37
2805 SOUTHSHORE BLVD$1,300,000$1,553,05022.12623DETACHD3
3155 UPPER DR$1,599,900$1,720,000433297DETACHD1
2165 RIDGE POINTE DR$2,100,000$1,828,000544749DETACHD29
2572 GLEN EAGLES PL$2,595,000$2,300,00054.26532DETACHD107
18000 EASTRIDGE LN$2,495,000$2,495,00044.15610DETACHD6
17575 S CRESTLINE DR$3,500,000$2,925,00054.27496DETACHD48
3328 LAKEVIEW BLVD$6,398,000$6,175,00045.16675DETACHD18

News & Notes ~ July Numbers 2021

Here is your look at the latest numbers as released by RMLS for the overall Portland area and how Lake Oswego fits in just below.

Overview/Fluctuations ~  Market Data July 2021:                                                                                            Things typically start to slow a bit in July. We saw a change in the usual pattern last year with activity pushing through the summer months. This year there is still lots of activity, but for two months in a row we see prices in some areas looking like they *may* be showing signs of jockeying into some kind of stabilization. We’ll check again next month.

Inventory rose another .1% in July, so people are perhaps starting to reach the end of their “waiting-to-sell” ropes. We usually see an uptick in the fall after vacations, so again, we’ll take a look at the trend next month to see if there really is a pattern developing. If there is… I can only say it’s a pretty subdued one. Houses are still hard to come by driving higher prices. Rates are around 3.125%.

According to the RMLS Market Action Report  for the Portland Metro Area, July 2021:

  • There were 4,267 New Listings in July 2021 increasing 0.7% over July 2020’s 4,236 and decreasing 0.7% from the previous month/June’s 4,298.
  • At 3,439, July 2021’s Closed Sales are up 1.4% from July 2020’s 3,391, dropping 1.1% from the previous month/June’s total of 3,477
  • At 3,534, June 2021’s Pending Sales decreased 8.3% from July 2020’s 3,656, and also dropped 5.1% from the previous month/June’s total of 3,534.
  • The Average Sale Price in July 2021 of $593,100 is up $90,800 from last year/July2020’s $502,300, and down $4,000. from the previous month/June’s $597,100.   
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in July 2021 of $522,000 rose $77,000 from last year/July 2020’s $445,000, and also increased $1,000 from the previous month/June’s $521,000.

LAKE OSWEGO:

  • 165 Active Listings (June 146)
  • 214 New Listings    (June 262)
  • 177 Pending Sales (June202)
  • 184 Closed Sales    (June 229)
  • Average Sale Price for July: $1,020,600 (June $1,018,100)
    • 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.
  •  19 Average Days on the Market   (June 21)

Market Activity ~ Aug 9-15, 2021

This last week we saw 10 properties enter the market, 31 move to Pending status (accepted offers) and 26 that Closed/Sold. This is the first time in awhile that I’ve not eliminated any “refreshed” properties from the “New” category…no need for refreshing, I suppose. Right now there are 90- beautiful homes available in Lake Oswego.

NEW Aug 9-15, 2021

AddressList PriceBeds BathsSFProp Type
210 S STATE ST  #9$535,00032.11642CONDO
17830 SW TUALATA AVE$595,000321373DETACHD
26 BRIARWOOD RD$665,00043.12554DETACHD
6666 SW CHILDS RD$750,000312408DETACHD
16510 MAPLE CIR$899,00042.12295DETACHD
5923 BAY POINT DR$925,000533187DETACHD
4224 HAVEN ST$1,199,950522600DETACHD
14495 PFEIFER DR$1,299,900433944DETACHD
15012 TWIN FIR RD$2,395,00053.13845DETACHD
1051 SW FOREST MEADOWS WAY$4,149,00066.15597DETACHD

PENDING Aug 9-15, 2021

AddressList PriceBedsBathsSFProp TypeCDOM
4 TOUCHSTONE #62$204,95032.11351CONDO46
47 EAGLE CREST DR #41$230,00021932CONDO14
4 TOUCHSTONE  #74$235,00032.11351CONDO8
12848 BOONES FERRY RD$425,00022.11182CONDO0
12826 Boones Ferry RD$445,00022.11182CONDO6
41 ORIOLE LN$500,000221564DETACHD10
17 AQUINAS ST$599,900322139DETACHD6
4241 COBB WAY$599,950321484DETACHD8
18431 INDIAN CREEK DR$635,000421736DETACHD17
457 LAUREL ST$650,000332264DETACHD14
5795 LANGFORD LN$659,000221687DETACHD0
1672 HIGHLAND DR$699,900421867DETACHD4
2697 LOOKOUT CT$720,000322219DETACHD29
12 MORNINGVIEW LN$730,00032.12718ATTACHD4
16904 CHERRY CREST AVE$759,000322167DETACHD2
5466 BAY CREEK DR$789,000332535DETACHD4
1580 WOODLAND TER$835,00032.12430DETACHD4
18360 TUALATA AVE$845,00052.12703DETACHD10
14121 REDWOOD CT$885,00043.12827DETACHD24
16750 PHANTOM BLUFF CT$899,000332267DETACHD2
41 TOUCHSTONE$920,000433090DETACHD21
18430 PILKINGTON RD$1,095,000433021DETACHD77
5316 CHILDS RD$1,097,77062.13847DETACHD318
12730 ADRIAN CT$1,195,00042.13014DETACHD24
14360 UPLANDS DR$1,230,00043.22577DETACHD16
17467 WESTVIEW DR$1,275,00043.14119DETACHD4
2950 GREENTREE RD$1,495,00043.13691DETACHD8
2442 PALISADES CREST DR$1,598,00042.13071DETACHD4
855 G AVE$2,000,00032.13710DETACHD17
1889 HIGHLANDS LOOP$5,499,00056.16832DETACHD20
3328 LAKEVIEW BLVD$6,398,00045.16675DETACHD18

SOLD AUG 9-15, 2021

AddressOpeningClosedBedsBathsSFProp TypeCDOM
39 OSWEGO SMT$269,000$280,500221212CONDO3
4041 JEFFERSON PKWY$289,000$300,00011.11060CONDO4
1367 BONNIEBRAE DR$399,000$400,00021.11008ATTACHD2
1509 BONNIEBRAE DR$482,900$507,00032.11739ATTACHD6
23 FALSTAFF ST$649,000$600,000321435DETACHD38
5051 TUALATA LN$714,900$640,000421581DETACHD37
5880 ROCKWOOD CT$656,500$680,000321772DETACHD2
18811 REAO CT$639,900$705,00032.11916DETACHD7
18426 SANDPIPER WAY$688,000$705,000431884DETACHD5
537 COUNTRY CLUB RD$849,000$760,000321901DETACHD93
13041 THOMA RD$770,000$760,00032.12418DETACHD4
1811 KILKENNY DR$758,000$780,000433794DETACHD0
32 MORNINGVIEW CIR$750,000$799,00032.12718DETACHD7
1672 LAKE FRONT RD$650,000$805,000321768DETACHD5
2440 OVERLOOK DR$879,900$825,000433850DETACHD15
5895 SUNCREEK DR$749,000$910,000422379DETACHD5
17 WESTRIDGE DR$875,000$935,00043.23533DETACHD11
3830 TEMPEST DR$999,995$937,00032.13099DETACHD22
16933 GREENTREE AVE$874,900$975,00042.12276DETACHD28
1931 PARK FOREST CT$1,025,000$1,085,00064.14107DETACHD6
17649 WOODHURST PL$1,198,000$1,120,00054.15669DETACHD103
4440 UPPER DR$1,899,000$1,850,00043.13583DETACHD42
18783 STAFFORD RD$2,295,000$1,875,00054.25757DETACHD147
1978 EGAN WAY$2,198,000$2,095,15045.26761DETACHD64
18098 PILKINGTON RD$2,199,000$2,277,00045.16680DETACHD6
3183 DOUGLAS CIR$3,450,000$3,450,00044.15595DETACHD0
Criteria: (RMLS DATA) 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.

Someone’s Got to Do It!

Monday, August 9th is Realtor Day at the Street of Dreams. Dianne and I decided to get a jump on everything and visited a day early. I know she wants to do a post on trends, so I won’t share the most fun pictures with you, but here we are as real human Realtors doing the hard investigative work for YOU!

Here is Dianne in very good hands (sorry…couldn’t resist : )

Again… we work hard for you.

Dianne hated this bathroom ; )

AND we’re learning that (as we wipe our brows) we really need to avail ourselves of the help that has become so common in all of our lives. (So bougie…)

Lastly, with all that energy we save by not having to mow our lawns, we can now relax with a few of our best moves on the court.

Seriously, it was a lovely day. Dianne and I get to see a lot of homes obviously, but its always a treat to see the latest trends in layout, materials, fixtures & colors. As I mentioned, Dianne will be covering these trends, so I’ll let her share the meaty stuff, but I will say that it is very worth your while this year. Here is a link to get your ticket! You may visit 10AM-9PM through August 22nd. They’re closed Mondays & Tuesdays. CLICK HERE

Market Activity ~ July 26-Aug 1, 2021

There were 11 homes entering the market last week, 19 that moved to Pending status (accepted offers) and 30 that Closed/Sold. Right now there are 109 lovely properties available in Lake Oswego!

Here is the breakdown using RMLS data:

NEW July 26-Aug 1, 2021

 List PriceBedsBathsSFType
47 EAGLE CREST DR  #41$230,00021932CONDO
4 TOUCHSTONE   #143$239,00032.11351CONDO
1589 BOCA RATAN DR$470,000321611ATTACHD
457 LAUREL ST$650,000332264DETACHD
18431 INDIAN CREEK DR$660,000421736DETACHD
15964 WHITE OAKS DR$949,90042.13015DETACHD
13060 SW ELK ROCK RD$1,178,000433681DETACHD
7 GARIBALDI ST$1,450,00043.16303DETACHD
14050 GOODALL RD$2,350,00054.26943DETACHD
2643 SOUTHSHORE BLVD$3,300,00033.24543DETACHD
1199 FAIRWAY RD$3,498,00044.25527DETACHD

PENDING July 26-Aug 1, 2021

AddressList PriceBedsBaths SFTypeDays
4 TOUCHSTONE #66$205,00032.11351CONDO6
16250 PACIFIC HWY  #78$343,500221305CONDO35
5058 FOOTHILLS DR, A$420,000321252CONDO8
17500 PILKINGTON RD$460,000211050DETACHD8
15115 QUARRY RD$650,000432865DETACHD19
5101 ROSEWOOD ST$665,00032.11736DETACHD4
13198 PETERS RD$695,00032.12630DETACHD29
17 MORNINGVIEW CIR$785,00032.12532DETACHD6
4987 BILFORD LN$799,90032.12302DETACHD5
1520 EASTVIEW CT$963,000443789DETACHD4
4750 UPPER DR$1,100,00053.13091DETACHD125
17543 LAKE HAVEN DR$1,185,00042.12333DETACHD9
427 9TH ST$1,199,00053.13250DETACHD12
17190 WALL ST$1,395,00054.26702DETACHD131
151 3RD ST   #1$1,499,00032.13278CONDO37
2167 WEMBLEY PARK RD$1,750,00043.14015DETACHD9
2572 GLEN EAGLES PL$2,195,00054.26532DETACHD107
1677 LESLIE LN$2,390,00046.17534DETACHD147
2945 UPPER DR$2,500,00044.14227DETACHD0

SOLD July 26-Aug 1, 2021

AddressOpenClosedBedsBathsSFType
42 CERVANTES CIR  #4B$250,000$261,00021.1912CONDO
153 OSWEGO SMT, Lower$279,990$269,000221677CONDO
163 OSWEGO SMT, Upper$285,000$310,000221506CONDO
16250 PACIFIC HWY  #41$360,000$350,000221380CONDO
  #10$515,000$500,00022.11743CONDO
5616 CHILDS RD$495,000$536,000311232DETACHD
53 ORIOLE LN$549,000$545,00032.12072DETACHD
38 NORTHVIEW CT$638,900$618,000443125ATTACHD
1701 ASPEN CT$663,800$663,800321956DETACHD
5 BECKET ST$685,000$685,00042.13654DETACHD
17 CHURCHILL DOWNS$649,900$712,000431966DETACHD
217 HIDALGO ST$769,900$737,45032.14312DETACHD
5440 BAY CREEK DR$775,000$840,00032.12442DETACHD
9 PREAKNESS CT$849,900$875,000433750DETACHD
1692 HIGHLAND DR$795,000$905,000432162DETACHD
1874 GLENMORRIE TER$950,000$952,000333508DETACHD
1503 PINE ST$875,000$959,000432842DETACHD
5681 YORKSHIRE CT$894,900$962,50042.12985DETACHD
1704 GLENMORRIE TER$950,000$965,00052.14292DETACHD
663 CARRERA LN$899,000$1,000,000322356DETACHD
125 FURNACE ST, Upper$995,000$1,075,00022.11927CONDO
12723 ADRIAN CT$1,098,000$1,098,000433190DETACHD
5933 SUNCREEK DR$1,250,000$1,200,00043.24027DETACHD
18635 WESTVIEW DR$1,150,000$1,275,000455102DETACHD
19305 HILL TOP RD$1,375,000$1,405,00043.15116DETACHD
569 7TH ST$1,450,000$1,450,000443135DETACHD
4502 LAMONT WAY$1,795,000$1,675,000443880DETACHD
301 IRON MOUNTAIN BLVD$1,649,000$1,752,00043.23036DETACHD
2254 KNAUS RD$4,125,000$3,900,00045.17436DETACHD
1617 LAKE FRONT RD$4,500,000$4,500,00044.14610DETACHD
Criteria: (RMLS DATA) 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.

News & Notes ~ June Numbers 2021

Here is your look at the latest numbers as released by RMLS for the overall Portland area and how Lake Oswego fits in just below.

Overview/Fluctuations ~  Market Data June 2021: 

New Listings and Closings increased in June, and/but Accepted Offers (Pendings) decreased from last year’s June figures as well as last month /May.

Inventory rose a whopping .1% in June (ha ha). We’re still at record (record) lows. While we’re talking records, check out those neighborhood appreciation levels below. Just wow.

My trusted mortgage advisor says rates are down a bit to 3.0%! Fed is indicating that they’ll continue to support the markets as the job picture improves.

According to the RMLS Market Action Report  for the Portland Metro Area, June 2021:

  • There were 4,298 New Listings in June 2021 increased 17.5% over April 2020’s 3,658 and increased 8.2% from the previous month/May’s 3,971.
  • At 3,477, June 2021’s Closed Sales are up 28.3% from June 2020’s 2,709, and also up 9.2% from the previous month/May’s total of 3,183
  • At 3,534, June 2021’s Pending Sales decreased 3.3% from June 2020’s 3,654, and also dropped 4.9% from the previous month/May’s total of 3,717.
  • The Average Sale Price in June 2021 of $597,100 is up $117,400 from last year/June2020’s $479,700, and up $14,900. from the previous month/May’s $582,200. 
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in June 2021 of $521,000 rose $86,000 from last year/June 2020’s $435,000, and also increased $6,000 from the previous month/May’s $515,000.

LAKE OSWEGO

  • 146 Active Listings (May 129)
  • 262 New Listings    (May 222)
  • 202 Pending Sales (May223)
  • 229 Closed Sales    (May 199)
  • Average Sale Price for June: $1,018,100 (May $928,300)
    • 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.
  •  21 Average Days on the Market   (May 28)

Market Activity ~ July 12-18, 2021

This last week there were 14 properties entering the market, 25 moving to Pending/accepted contract, and 20 that Sold/Closed. here is the latest according to RMLS:

NEW July 12-18, 2021

AddressList Price# Beds# BathsTotal SFProp Type
29 CRESTFIELD CT / Grnd$249,90022989CONDO
36 CRESTFIELD CT / Upper$295,00021921CONDO
18281 WOOD THRUSH CIR$715,00042.12240DETACHD
2697 LOOKOUT CT$720,000322219DETACHD
1430 LARCH ST$815,000332312DETACHD
4 SHERWOOD CT$825,00042.12870DETACHD
3065 ROYCE WAY$835,00042.12726DETACHD
14121 REDWOOD CT$969,90043.12827DETACHD
1535 PINE ST$1,100,00032.12390DETACHD
427 9TH ST$1,199,00053.13250DETACHD
45 NANSEN SMT$1,250,00044.15874DETACHD
12730 ADRIAN CT$1,295,00042.13014DETACHD
732 ELLIS AVE$2,350,00042.13482DETACHD
17475 BLUE HERON RD$3,995,00055.15787DETACHD

PENDING July 12-18, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
45 EAGLE CREST DR  #49$249,900221214CONDO5
163 OSWEGO SMT / Upper$285,000221506CONDO2
4041 JEFFERSON PKWY$289,00011.11060CONDO4
16250 PACIFIC HWY  #41$360,000221380CONDO20
6135 SHAKESPEARE ST$549,900421656DETACHD21
16501 LAKE FOREST BLVD$550,000311429DETACHD28
31 ORIOLE LN$569,000331968DETACHD4
17902 TAMARA AVE$569,900422082DETACHD4
6545 SW Childs RD$600,000643134DETACHD1
23 FALSTAFF ST$629,000321435DETACHD38
18811 REAO CT$639,90032.11916DETACHD7
6227 WAYZATA CT$649,99931.11232DETACHD7
5880 ROCKWOOD CT$656,500321772DETACHD2
4 PIMLICO TER$690,000322100DETACHD3
9 SPINOSA$749,00022.12250DETACHD5
1811 KILKENNY DR$758,000433794DETACHD0
17802 HILLSIDE WAY$779,80042.13026DETACHD23
759 TIMBERLINE DR$825,000432928DETACHD21
16933 GREENTREE AVE$874,90042.12276DETACHD28
3333 ROYCE WAY$949,90032.12896DETACHD7
18320 DELENKA LN$995,00042.14519DETACHD67
17649 WOODHURST PL$1,198,00054.15669DETACHD103
4210 VIRGINIA WAY$1,489,00044.13508DETACHD58
19395 HILL TOP RD$1,575,00053.24788DETACHD4
13700 FIELDING RD$4,998,00054.25802DETACHD3

SOLD July 12-18, 2021

AddressOpeningClosedBedsBathsSFProp TypeDays
23 CRESTFIELD CT / Grnd$199,000$220,00011689CONDO2
4 TOUCHSTONE  #123$215,000$225,00032.11351CONDO26
45 EAGLE CREST DR  #311$245,000$260,000221046CONDO2
4000 CARMAN DR,  E80$289,000$289,00022993CONDO28
3892 BOTTICELLI ST / Main$303,500$305,000321288CONDO4
5691 WINDFIELD LOOP$599,000$594,000321588DETACHD6
16775 WESTVIEW DR$629,000$693,000321806DETACHD4
13019 SIERRA CT$819,000$805,00042.12522DETACHD8
19001 BARTON RD$899,000$830,00042.12194DETACHD13
18343 ANDUIN TER$995,000$970,00042.13000DETACHD19
5774 BAY POINT DR$1,195,000$1,119,00052.13674DETACHD25
18711 WESTVIEW DR$1,195,000$1,200,00043.13592DETACHD6
5024 DOGWOOD DR$1,195,000$1,358,00043.13267DETACHD2
4640 DOGWOOD DR$1,550,000$1,400,000444142DETACHD9
560 4TH ST$1,449,000$1,450,00034.13186ATTACHD23
3729 ELEANOR CT$1,598,000$1,500,00044.14061DETACHD9
18031 MEADOWLARK LN$1,585,000$1,525,00043.13798DETACHD5
853 D AVE$1,950,000$1,812,50043.15137DETACHD56
1845 PALISADES TERRACE DR$3,650,000$2,990,00032.12674DETACHD17
1125 MAPLE ST$3,900,000$3,650,00043.16254DETACHD82
Criteria: (RMLS DATA) 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.

When Looking At Houses~

  • Notice the light and assess the windows– Have they been updated? If not, that’s an investment ahead.
  • Try to ignore the staging and/or personal belongings– You’re potentially buying the house, and not these distracting things. They can, and in the case of staging, are meant to elicit emotional reactions in you. Stay focused on the house.
  • Ask about the heat source– Different heating/cooling methods can drastically change your experience of the home in both functionality and in cost to you. For instance, if the source is “Electric”, that can be more expensive if it refers to baseboard, and much less expensive if it is a mini-split system. Oil heat has its own challenges, and gas furnaces may or may not be up to the task of heating a home today, especially if its been remodeled and additional SF has been added.
  • Pay attention to how SF is presented– If a home is 2000SF, and 1000 of that is unfinished basement space, you may want to assess ahead of time if that is a home you want to view.
  • Lot size & amenitites– You have general ideas of either wanting lots of space and/or privacy, or wanting to be in a friendly “neighborhood” environment with smaller lots closer together. Each home will be different.
    • Do you have pets? If so, check out fencing and whether it’s adequate. If not, that can be fixed, but its an investment.
    • Some large lots will be set back and have minimal yard space to enjoy with most of the area in the entrance, say, or perhaps a good percentage of the lot’s SF is on a hill.
    • Some homes will be high maintenance, ie, if a home has that “falling in love” factor, and it is because of the beautiful gardens surrounding it on all sides….remember that those gardens need care- Are you a gardener? Are you OK with paying someone to maintain those grounds? Just good questions to ask yourself.
    • Some smaller lots may be set closer to the street with ample backyard space.
    • You’ll want to note whether the home has covered areas outside which can add more living space for you in the rainy months.
  • Is the flooring to your liking? – If not that can be fixed, but its an investment. On the other hand, if a home has everything you want, the price is right, and you hate carpet, flooring can likely be changed for much less than you imagine, and often for much less than it will cost you to keep looking and pay for a different home that is priced higher than the actual cost of flooring because it is called “updated” or “remodeled” in the Listing. It’s fairly common to have a flooring contractor lined up to do the flooring work the day after Closing so that your move-in timeline is only slightly affected.
  • Hate the kitchen counters? See my advice on flooring above.
  • Keep things in perspective- While many homes will just not fit the bill, in this market, it pays to really assess what is important and what can be changed to your liking with a little investment on your part after Closing. For years now Buyers have not been in the mood to make any changes and have generally been looking for “move-in-ready”. Right now, we are at historic lows in inventory and have been for many months. If you find a home that meets most of your needs and/but could use a tweak here & there, my advice is: Go for it! Consider it an opportunity to make it your own.