Category: Buying Advice

What to do when buying real estate in Lake Oswego, Oregon

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News & Notes ~ Dec 2019 Numbers

Here is your look at the most recent data for the entire Portland area (December 2019) and how Lake Oswego fits in to this picture just below.

Inventory dropped a bit in December, but this is to be expected at the holidays. By the same token New Listings and Pending Sales took some steep dives from November, but all numbers are up from last year to varying degrees.  Year-end Average and Median Sales Prices were up modestly from 2018. Neighborhoods are broken out below.

According to the RMLS Market Action Report for the Portland Metro Area, December, 2019:

  • There were 1,270  New Listings in December 2019 which was up 1.2%  from December of 2018’s 1,255, and  dropped 40.0% from the previous month/November’s 2,118.  (Pssst…holidays.)
  • At 2,213, December 2019’s Closed Sales were up 19.9% over December 2018’s 1,846, and also up 1.0% from the previous month/November 2019’s total of 2,191.
  • At 1,772, December 2019’s Pending Sales rose 10.8% over December 2018’s 1,599, and fell 22.1% from the previous month/November 2019’s total of 2,274.
  • The Average Sale Price in December 2019 of $457,700 up $19,100 from last year/December 2018’s $438,600, and down $4,900 from the previous month/November 2019’s $462,600.  
    • Year-to-Date for End-2019 is $459,200
    • Year-to-Date for End-2018 WAS $452,400
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in December 2019 of $405,000 was up from last year/December 2018’s $390,000 by $15,000, and down $10,000 from the previous month/November 2019’s $415,000.   
    • Year-to-Date for End-2019 is $410,000
    • Year-to-Date for End-2018 WAS $400,000

Neighborhoods: December’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $440,200           0.1%   (Nov $453,100)
    •                                                     YTD Median: $409,000
  • NE Portland:  $460,800                   1.8%   (Nov $466,000)
    •                                                     YTD Median: $425,000
  • SE Portland:  $409,000                   1.7%   (Nov $422,200)
    •                                                     YTD Median: $375,000
  • Gresham/Troutdale:   $370,100     4.8%   (Nov $380,800)
    •                                                     YTD Median: $350,300
  • Milwaukie/Clackamas:  $441,300  3.0%   (Nov $450,000)
    •                                                     YTD Median: $419,000
  • Oregon City/Canby:   $446,500      4.1%   (Nov $437,900)
    •                                                     YTD Median: $415,000
  • Lake Oswego/West Linn:$732,400  2.6%  (Nov $718,200)
    •                                                      YTD Median: $590,000
  • West Portland:    $614,300             -2.2%  (Nov $608,900)
    •                                                     YTD Median: $525,000
  • NW Wash County:  $522,600         -0.8%   (Nov$512,000)
    •                                                      YTD Median: $511,000
  • Beaverton/Aloha:     $385,000       3.3%   (Nov$410,800)
    •                                                     YTD Median: $390,000
  • Tigard/Wilsonville:   $438,900        0.5%   (Nov $463,100)
    •                                                      YTD Median: $439,900
  • Hillsboro/Forest Grove: $420,400  4.9%   (Nov $411,700)
    •                                                      YTD Median: $385,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of December 2019 reported:

    •  223 Active Listings (Nov 287)
    •   50 New Listings     (Nov  85)
    •   70 Pending Sales   (Nov  97)
    •  107 Closed Sales    (Nov 126)
    • Average Sale Price for December: $732,400  (Nov $718,200)
      • 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.
    •  109 Average Days on the Market   (Nov 101)

 

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Market Activity ~ Jan 6-12, 2020

Hello 2020!  Anecdotally, the word on the street is that the market is starting to heat up more like spring than January this year. Last week in Lake Oswego, 12 New properties entered the market, 13 moved to Pending status, and 11 were “Closed”/Sold. We also have 144 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Jan 6-12, 2020)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR #19 $210,000 1 1 836 CONDO
14446 HOLLY SPRINGS RD $529,900 3 2.1 1699 CONDO
76 GREENRIDGE CT $650,000 4 3.1 2868 ATTACHD
34 MORNINGVIEW CIR $662,900 4 2.1 2942 DETACHD
13479 FIELDING RD $949,000 4 2.1 3385 DETACHD
13483 FIELDING RD $949,999 4 3 3149 DETACHD
5340 GREYSTOKE DR $1,095,000 3 4 2955 DETACHD
6429 Mission CT $1,165,000 4 3.1 3182 DETACHD
1692 VILLAGE PARK LN $1,198,000 4 3.1 3581 DETACHD
878 7TH ST $1,350,000 4 3.1 3017 DETACHD
4357 SOUTHSHORE BLVD $3,100,000 5 5.1 5220 DETACHD
1415 SKYLAND DR $4,785,000 5 4.1 6085 DETACHD

PENDING SALES (Jan 6-12, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #94 $145,900 3 2.1 1351 CONDO 99
16317 BONAIRE AVE $369,900 3 1.1 1219 DETACHD 4
5057 W SUNSET DR $474,500 2 2.1 1720 ATTACHD 423
38 BRIARWOOD RD $500,000 7 2.2 2554 DETACHD 493
5095 OAKRIDGE RD $549,000 4 2 1743 DETACHD 3
2425 PRESTWICK RD $699,000 3 2 1464 DETACHD 46
4092 ORCHARD WAY $835,000 4 3.1 3591 DETACHD 140
5581 YORKSHIRE PL $898,500 5 2.1 3218 DETACHD 3
939 F AVE $975,000 3 3 1706 DETACHD 0
16800 LAKERIDGE DR $1,069,000 4 3 2369 DETACHD 138
762 3RD ST $1,100,000 3 2.1 2590 DETACHD 26
589 7TH ST $1,275,000 5 4.1 3657 DETACHD 181
4350 LORDS LN $1,395,000 5 4 3888 DETACHD 5

SOLD (Jan 6-12, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
42 OSWEGO SMT / Main $142,500 $152,500 1 1 764 CONDO 3
1581 BONNIEBRAE DR $365,000 $329,500 2 2 1393 ATTACHD 77
1010 LAUREL ST $559,900 $525,800 2 2 2498 DETACHD 36
2950 GREENTREE RD $517,500 $545,000 3 2 3002 DETACHD 13
3615 UPPER DR $600,000 $587,000 3 2 1529 DETACHD 37
1293 HIDE A WAY LN $585,000 $590,550 3 2.1 1720 DETACHD 10
1982 WEMBLEY PARK RD $824,900 $685,000 6 4 4561 DETACHD 164
4125 CASEY CT $1,195,000 $956,000 4 3.1 3728 DETACHD 179
15986 Parker RD $1,099,413 $963,800 4 3.1 3130 DETACHD
4840 LAMONT WAY $1,475,000 $1,324,000 5 3.1 3277 DETACHD 141
1159 LAKE FRONT RD $1,848,800 $1,675,000 5 4 3756 DETACHD 10

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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News & Notes ~ Nov 2019 Numbers

Here is your look at the most recent data for the entire Portland area (November 2019) and how Lake Oswego fits in to this picture just below.

Inventory is about the same as last month with a wide selection of homes still on the market in this now-holiday season. The biggest news in the overall numbers for November as compared with October is that almost everything is pretty nearly exactly the same, or at least not much has changed. The main exception would be the New & Closed numbers being down, but that is to be expected as we moved from October into the holiday season.

According to the RMLS Market Action Report for the Portland Metro Area, November, 2019:

  • There were 2,118  New Listings in November 2019 which was down 8.3%  from November of 2018’s 2,310, and  30.9% from the previous month/October’s 3,064.
  • At 2,191, November 2019’s Closed Sales rose at 2.2% over November 2018’s 2,144, and fell 15.3% from the previous month/October 2019’s total of 2,588.
  • At 2,274, November 2019’s Pending Sales rose 19.4% over November 2018’s 1,904, and fell 11.7% from the previous month/October 2019’s total of 2,575.
  • The Average Sale Price in November 2019 of $462,600 up $13,700 from last year/November 2018’s $448,900, and up $1,200 from the previous month/October 2019’s $461,400.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in November 2019 of $415,000 was up from last year/November 2018’s $391,400 by $23,600, and up $4,500 from the previous month/October 2019’s $410,500.   

Neighborhoods: November’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $453,100           0.1%   (Oct $408,000)
    •                                                     YTD Median: $409,000
  • NE Portland:  $466,000                   2.2%   (Oct $466,800)
    •                                                     YTD Median: $425,000
  • SE Portland:  $422,200                   1.7%   (Oct $422,000)
    •                                                     YTD Median: $376,000
  • Gresham/Troutdale:   $380,800     4.5%   (Oct $376,000)
    •                                                     YTD Median: $352,500
  • Milwaukie/Clackamas:  $450,000  3.0%   (Oct $431,600)
    •                                                     YTD Median: $419,300
  • Oregon City/Canby:   $437,900      4.2%   (Oct $438,100)
    •                                                     YTD Median: $411,000
  • Lake Oswego/West Linn:$718,200  1.4%  (Oct $763,800)
    •                                                      YTD Median: $590,000
  • West Portland:    $608,900             -2.6%  (Oct $627,500)
    •                                                     YTD Median: $525,000
  • NW Wash County:  $512,000         -1.8%   (Oct $573,800)
    •                                                      YTD Median: $515,000
  • Beaverton/Aloha:     $410,800       3.7%   (Oct $405,500)
    •                                                     YTD Median: $391,000
  • Tigard/Wilsonville:   $463,100        1.0%   (Oct $474,700)
    •                                                      YTD Median: $440,000
  • Hillsboro/Forest Grove: $411,700  4.5%   (Oct $420,700)
    •                                                      YTD Median: $385,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of November 2019 reported:

    •  287 Active Listings  (Oct 354)
    •   85 New Listings     (Oct 129)
    •   97 Pending Sales   (Oct 126)
    •  126 Closed Sales      (Oct 106)
    • Average Sale Price for November: $718,200  (Oct $763,800)
      • 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.
    •  101 Average Days on the Market   (Oct 92)

 

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Market Activity ~ Dec 9-15, 2019

Last week 6 New properties entered the market, 15 moved to Pending status, and 11 were “Closed”/Sold. We also have 161 homes for sale right now in Lake Oswego this week before Christmas.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Dec 09-15, 2019)

Address List Price # Beds # Baths Total SF Prop Type
17635 DEEMAR WAY $549,000 4 2 1488 DETACHD
3 BECKET ST $699,900 4 2.1 4285 DETACHD
14253 KIMBERLY CIR $895,000 4 3.1 3527 DETACHD
762 3RD ST $1,100,000 3 2.1 2590 DETACHD
1159 LAKE FRONT RD $1,848,800 5 4 3756 DETACHD
4660 UPPER DR $1,895,000 5 3.1 3898 DETACHD

PENDING SALES (Dec 09-15, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
54 CERVANTES CIR / Grnd $205,000 2 1.1 912 CONDO 29
164 OSWEGO SMT / Upper $244,900 2 2 1383 CONDO 116
5054 FOOTHILLS DR, H $320,000 3 2 1252 CONDO 107
12862 BOONES FERRY RD #114 $378,500 2 2.1 1136 CONDO 47
1122 ERICKSON ST $495,000 3 2 1511 DETACHD 4
3241 PHYLLIS CT $525,000 4 3 2674 DETACHD 8
30 BECKET ST $544,999 3 2 2077 DETACHD 113
3615 UPPER DR $600,000 3 2 1529 DETACHD 37
3735 UPPER DR $620,000 4 2 1770 DETACHD 3
41 TANGLEWOOD DR $632,500 4 3 3001 DETACHD 162
1982 WEMBLEY PARK RD $674,000 6 4 4561 DETACHD 164
17821 HILLSIDE WAY $785,000 4 3.1 3480 DETACHD 89
17618 BLUE HERON RD $795,000 4 2 2413 DETACHD 77
1952 EGAN WAY $864,000 3 3 2961 DETACHD 191
135 FURNACE ST / Upper $870,000 2 2.1 1927 CONDO 74

SOLD (Dec 09-15, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
82 GALEN ST / Upper $175,000 $180,000 1 1 690 CONDO 36
219 CERVANTES, #219 $229,000 $225,000 2 2 1100 CONDO 135
4510 LOWER DR, B1 $425,000 $410,000 3 2.1 1729 CONDO 30
16200 PACIFIC HWY, #6 $419,500 $419,500 2 2 1190 CONDO 2
500 MAPLE ST $647,500 $583,000 3 2.1 2567 DETACHD 87
2 CREEKSIDE TER $679,900 $635,000 4 2.1 2906 DETACHD 30
4379 SNOWBRUSH CT $825,000 $700,000 4 3 3596 DETACHD 606
4006 CANAL WOODS CT $799,000 $790,000 4 3.1 3514 DETACHD 35
2311 PALISADES CREST DR $1,279,000 $1,200,000 4 2.1 4903 DETACHD 88
994 COUNTRY CMNS $1,348,850 $1,200,000 4 2.1 3968 DETACHD 180
3102 DOUGLAS CIR $1,695,000 $1,600,000 5 4.1 4644 DETACHD 197

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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A Partnership

In this sweet time between Thanksgiving and Christmas I find myself reflecting on so many good things. One of those good things is my clients, both past and present. Over the years I’ve kept a note book where I write down names and addresses, but also personal information such as children’s names and pets. Then each December I send out a holiday greeting that I snail mail and hand address. I do it this way for a very specific reason. We learn in different ways, but writing is a method of memorizing. So each year, as I go through my note book and hand address envelopes, I find myself remembering people and reflecting on their lives and how long they have been in their homes. This year it has also lead me to think about how I feel like with each and every one of my clients I have formed a partnership.

I think there are a lot of misconceptions about Realtors and how Realtors work. I would estimate that for every hour you spend with your Realtor, that Realtor is working about 4 hours behinds the scenes without you. We do a lot of research, correspondence, investigating, and so much more. In turn I think it is about the same for my clients. When they are not with me I think that they too are doing research, correspondence, and investigating. Together we are working towards the same goal, a successful real estate experience and transaction.

I also think the key to a good partnership is communication and listing. Sometimes we just need to quit talking and pay attention to what the other person is saying. The listening is so important. I need to understand where you are coming from. I need to HEAR you.

I really value these partnerships. Twice in the last week I have had past clients let me know that they really appreciate what I do for them. Such music to my ears! I know it’s been a good partnership and that we will work together again in the future.

So I guess I’m counting my blessings and feel grateful for such good partnerships.

Linda and I have really worked on being the best Realtors we can be for our clients. She and I would love to be of help to you if you have any questions or concerns when it comes to real estate. Feel free to reach out to either one of us. We’d love to be your real estate partner.

-Dianne

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Market Activity ~ Nov 25-Dec 1, 2019

Last week 5 New properties entered the market, 12 moved to Pending status, and 10 were “Closed”/Sold.

Its officially “Holiday Season”, so new properties get scarcer for a few weeks, and/but we have a great inventory already at 183 homes for sale right now in Lake Oswego. This week we only saw 5 properties truly enter the market, however, I did delete 5 that had been “refreshed” with a new ML#, which is also a mark of the season. Overall, Life is good, and folks continue to buy and sell property for a whole host of reasons, so… If you’re looking to make a change that involves either of these, Dianne and I are always busy this time of year, AND always here for you. And… like a broken record, this is an incredible time of year to catch focused, serious Buyers and motivated Sellers. Win/win.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Nov 25-Dec 1, 2019)

Address List Price # Beds # Baths Total SF Prop Type
30 BECKET ST $544,999 3 2 2077 DETACHD
308 4TH ST $625,000 2 2.1 1731 TOWNHSE
17525 CHERRY CT $1,199,000 5 3.1 4559 DETACHD
3250 FIR RIDGE RD $1,349,000 4 3.1 3541 DETACHD
1976 HIGHLANDS LOOP $1,695,000 4 3.2 4881 DETACHD

PENDING SALES (Nov 25-Dec 1, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #76 $180,000 2 2 984 CONDO 20
15938 QUARRY RD #5B $225,000 2 1 996 CONDO 3
4000 CARMAN DR #C37 $249,000 1 1 836 CONDO 34
16250 PACIFIC HWY #76 $325,000 3 2 1745 CONDO 74
4282 WOODSIDE CIR $385,000 2 2 1444 ATTACHD 29
24 DEL PRADO ST $450,000 6 2.1 3034 DETACHD 0
4688 OAKRIDGE RD $475,000 3 2 1788 DETACHD 51
16946 LOWER MEADOWS DR $520,000 3 2.1 1792 DETACHD 20
1293 HIDE A WAY LN $585,000 3 2.1 1720 DETACHD 10
4379 SNOWBRUSH CT $799,000 4 3 3596 DETACHD 606
4125 CASEY CT $999,000 4 3.1 3728 DETACHD 179
19025 SW HILL TOP RD $2,349,500 5 4.1 5366 DETACHD 445

SOLD (Nov 25-Dec 1, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
8 CRESTFIELD CT / Upper $172,900.00 $155,000.00 1 1 689 CONDO 132
25 OSWEGO SMT #25 $180,000.00 $175,000.00 1 1 721 CONDO 53
4634 LOWER DR / Grnd $240,000.00 $245,000.00 2 1.1 1260 CONDO 19
17761 DEEMAR WAY $519,900.00 $430,000.00 3 2 1610 DETACHD 179
5430 SW SILETZ CT $495,000.00 $480,000.00 4 2 1915 DETACHD 4
5071 W SUNSET DR $519,000.00 $496,000.00 2 2.1 1734 TOWNHSE 148
34 MORNINGVIEW CIR $679,000.00 $649,900.00 4 2.1 2942 DETACHD 36
319 3RD ST $679,000.00 $660,000.00 3 3.1 1937 ATTACHD 68
14711 UPLANDS DR $1,290,000.00 $1,150,000.00 4 4.1 3327 DETACHD 931
1225 OAK TER $1,450,000.00 $1,497,900.00 4 4 3771 DETACHD 149

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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News & Notes ~ October 2019 Numbers

Here is your look at the most recent data for the entire Portland area (October 2019) and how Lake Oswego fits in to this picture just below.

According to the RMLS Market Action Report for the Portland Metro Area, October, 2019:

  • There were 3,064  New Listings in October 2019 which was down 1.2%  from October of 2018’s 3,100, and  11.7% from the previous month/September’s 3,470.
  • At 2,588 October 2019’s Closed Sales rose at 6.1% over October 2018’s 2,440, and  also increased 8.9% from the previous month/September 2019’s total of 2,377.
  • October 2019’s Pending Sales (accepted offers), at 2,575 were up  3.7% from October of 2018’s 2,484, but fell 4.1% from the previous month/September 2019’s total of  2,686.
  • The Average Sale Price in October 2019 of $461,400 up $7,000 from last year/October 2018’s $454,400, and up $3,000 from the previous month/September 2019’s $458,400.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in October 2019 of $410,500 was up from last year/October 2018’s $395,000 by $15,500, and up $500 from the previous month/September 2019’s $410,000.   

Neighborhoods: October’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $408,000           -0.4%   (Sep $422,300)
    •                                                     YTD Median: $407,500
  • NE Portland:  $466,800                   2.3%   (Sep $429,000)
    •                                                     YTD Median: $430,000
  • SE Portland:  $422,000                   2.2%   (Sep $422,600)
    •                                                     YTD Median: $376,000
  • Gresham/Troutdale:   $376,000     4.3%   (Sep $368,800)
    •                                                     YTD Median: $350,000
  • Milwaukie/Clackamas:  $431,600  3.6%   (Sep $442,000)
    •                                                     YTD Median: $419,000
  • Oregon City/Canby:   $438,100      4.9%   (Sep $437,400)
    •                                                     YTD Median: $411,000
  • Lake Oswego/West Linn:$763,800  1.2%  (Sep $680,900)
    •                                                      YTD Median: $589,900
  • West Portland:    $627,500             -2.5%  (Sep $593,700)
    •                                                     YTD Median: $520,000
  • NW Wash County:  $573,800         -1.8%   (Sep $534,800)
    •                                                      YTD Median: $520,000
  • Beaverton/Aloha:     $405,500       4.5%   (Sep $408,100)
    •                                                     YTD Median: $390,000
  • Tigard/Wilsonville:   $474,700        1.9%   (Sep $465,900)
    •                                                      YTD Median: $439,900
  • Hillsboro/Forest Grove: $420,700  4.3%   (Sep $411,300)
    •                                                      YTD Median: $384,900

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of October 2019 reported:

    •  354 Active Listings  (Sep 405)
    •  129 New Listings     (Sep 162)
    •  126 Pending Sales   (Sep 128)
    •  106 Closed Sales      (Sep 120)
    • Average Sale Price for October: $763,800  (Sep $680,900)
      • 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.
    •  92 Average Days on the Market   (Sep 58)

 

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Market Activity ~ Nov 11-17, 2019

There are a total of 204 homes for sale right now in Lake Oswego. Last week 13 New properties entered the market, 12 moved to Pending status, and 17 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Nov 11-17, 2019)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWYbb #52 $168,950 1 1 617 CONDO
9 OSWEGO SMT/Lower $180,000 1 1 764 CONDO
54 CERVANTES CIR/Grnd $205,000 2 1.1 912 CONDO
86 KINGSGATE RD #H201 $221,000 2 2 840 CONDO
65 OSWEGO SMT/Upper $245,000 2 2 1140 CONDO
17 SUMMIT RIDGE CT $325,000 2 2.1 1844 TOWNHSE
1010 LAUREL ST $559,900 2 2 2498 DETACHD
304 6TH ST $575,000 1 1 941 DETACHD
17721 OVERLOOK CIR $739,900 4 2.1 3172 DETACHD
5006 UPPER DR $1,300,000 4 3.1 3284 DETACHD
707 LAKE SHORE RD $1,925,000 3 3.1 2689 DETACHD
17313 BLUE HERON RD $2,069,000 4 2.2 3454 DETACHD
1190 FAIRWAY RD $2,599,000 4 4.1 5855 DETACHD

PENDING SALES (Nov 11-17, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
16200 PACIFIC HWY #6 $419,500 2 2 1190 CONDO 2
4510 LOWER DR B1 $425,000 3 2.1 1729 CONDO 30
1775 CLOVERLEAF RD $549,900 4 2.1 2238 DETACHD 5
3903 TEMPEST DR $579,000 3 2.1 2410 DETACHD 138
5554 ROYAL OAKS DR $595,000 3 2 1861 DETACHD 3
500 MAPLE ST $599,500 3 2.1 2567 DETACHD 153
15008 TWIN FIR RD $689,900 5 3.1 3532 DETACHD 125
5709 CHARLES CIR $725,000 4 2.1 2912 DETACHD 109
1952 EGAN WAY $864,000 3 3 2961 DETACHD 167
14711 UPLANDS DR $1,150,000 4 4.1 3327 DETACHD 931
2311 PALISADES CREST DR $1,249,000 4 2.1 4903 DETACHD 88
3122 UPPER DR $1,299,000 4 4 3939 DETACHD 196

SOLD (Nov 11-17, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
65 GALEN ST / Main $184,000 $180,000 1 1 689 CONDO 18
4 TOUCHSTONE #69 $186,000 3 3 1351 CONDO 20
5225 JEAN RD #403 $279,000 $277,000 2 2 1200 CONDO 10
6 THE GROTTO $425,000 $425,000 3 2 1381 DETACHD 5
6216 WAYZATA CT $440,000 $425,000 3 2 1261 DETACHD 86
5944 BURMA RD $549,000 $547,000 3 2 1409 DETACHD 6
14363 CAMDEN LN $579,000 $584,000 4 2.1 2438 DETACHD 4
79 GREENRIDGE CT $595,000 $584,000 3 2 1642 TOWNHSE 9
1550 BEDFORD CT $624,000 $590,000 2 2.1 2359 DETACHD 404
17573 BLUE HERON CT $625,000 $605,000 4 3 2464 DETACHD 87
45 BECKET ST $650,000 $610,000 3 2.1 2653 DETACHD 78
2103 RIDGEWOOD RD $657,000 $657,000 4 2 1648 DETACHD 3
13 Da Vinci ST $725,000 $690,000 5 3.1 3815 DETACHD 16
5206 ROYAL OAKS DR $735,000 $720,000 5 3.1 2985 DETACHD 126
17701 WESTVIEW DR $750,000 $867,000 3 3 2115 DETACHD 3
2937 RIVENDELL RD $1,200,000 $1,095,000 3 3.1 4965 DETACHD 166
15880 OSWEGO SHORE CT $1,499,000 $1,415,000 4 3.1 4084 DETACHD 561

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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Market Activity ~ Oct 28-Nov 4, 2019

There are a total of 220 homes for sale right now in Lake Oswego. Last week 7 New properties entered the market, 22 moved to Pending status, and 15 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Oct 28-Nov 4, 2019)

Address List Price # Beds # Baths Total SF Prop Type
12862 BOONES FERRY RD #114 $378,500 2 2.1 1136 CONDO
4282 WOODSIDE CIR $385,000 2 2 1444 ATTACHD
16377 KIMBALL ST $399,900 3 1 1200 DETACHD
100 LEONARD ST / Upper $664,000 3 2 1736 CONDO
8 DOVER WAY $1,500,000 6 4.2 6118 DETACHD
736 SOUTHVIEW RD $3,398,000 4 3.2 4639 DETACHD
460 SW BERGIS RD $7,999,000 6 4.1 5114 DETACHD

PENDING SALES (Oct 28-Nov 4, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
82 GALEN ST $175,000 1 1 690 CONDO 36
4 TOUCHSTONE #130 $200,000 2 2 984 CONDO 25
3968 CARMAN DR $299,900 2 2.1 1107 CONDO 35
18 BRITTEN CT $425,000 3 2.1 1972 ATTACHD 19
17761 DEEMAR WAY $448,000 3 2 1610 DETACHD 179
15003 TWIN FIR RD $492,000 2 1 984 DETACHD 7
1716 ASPEN CT $515,000 3 2 1528 DETACHD 9
14498 CAMDEN LN $549,900 4 2.1 1918 DETACHD 91
16106 LAKE FOREST BLVD $549,900 3 1.2 3440 DETACHD 482
79 GREENRIDGE CT $595,000 3 2 1642 TOWNHSE 9
4981 HAMPTON CT $619,000 4 2.1 2440 DETACHD 60
14201 DOLPH CT $624,999 3 2 1916 DETACHD 91
34 MORNINGVIEW CIR $679,000 4 2.1 2942 DETACHD 36
18381 HEATHER ANN CT $696,000 4 2.1 2983 DETACHD 315
573 2ND ST / Upper $789,000 2 2.1 1748 CONDO 148
654 1ST ST $799,900 2 2.1 2140 CONDO 167
1451 GREENTREE CIR $875,000 4 3.1 2300 DETACHD 84
4105 PFEIFER CT $882,000 5 2.1 4176 DETACHD 425
2013 RIDGEWOOD RD $1,025,000 5 3.1 4116 DETACHD 231
994 COUNTRY CMNS $1,225,000 4 2.1 3968 DETACHD 180
15566 VILLAGE PARK CT $1,378,000 5 3.1 4855 DETACHD 386
15880 OSWEGO SHORE CT $1,499,000 4 3.1 4084 DETACHD 561

SOLD (Oct 28-Nov 4, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #33 $274,900 $270,000 2 2 1103 CONDO 2
32 CONDOLEA DR / Main $359,900 $330,000 2 2 1420 CONDO 56
16494 INVERURIE RD $479,000 $450,000 3 1 1302 DETACHD 68
2305 GLEN HAVEN RD $501,300 $501,300 2 2 1580 DETACHD 0
336 LIVINGOOD LN $575,000 $505,000 4 2.1 2392 DETACHD 194
13242 VERMEER DR $549,000 $540,000 3 2.1 2100 DETACHD 7
16921 KARA LN $620,000 $607,000 3 2.1 2382 DETACHD 71
16 ABELARD ST $625,000 $610,000 5 3 3012 DETACHD 31
18833 INDIAN CREEK AVE $619,900 $619,900 4 2.1 2301 DETACHD 15
30 WESTRIDGE DR $659,900 $650,000 4 3 3290 DETACHD 27
1255 BAYBERRY RD $859,000 $765,000 3 2 1910 DETACHD 116
19333 RIVERWOOD LN $925,000 $869,500 4 3 3110 DETACHD 96
1715 EDGECLIFF TER $1,625,000 $1,550,000 4 4.1 4927 DETACHD 372
13132 Thoma RD $2,469,900 $2,180,000 5 4.1 5362 DETACHD 144
910 NORTHSHORE RD $4,195,000 $4,125,000 5 6.1 5203 DETACHD 0

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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Take the Pressure Off

Closeup of hands on clock face
Buying or selling a house is a pretty exciting time in your life. It means you are making a move to a new place, with new opportunities and, perhaps, a new lifestyle. It’s normal to be excited. For folks who are buying a house it is a time of excitement to start fresh in the beautiful new home. For folks who are selling, they are probably looking forward to a move and also to the financial rewards of having owned and cared for a home. Additionally for sellers, time literally is money. Each additional day in escrow is one more day of paying taxes, insurance, and interest. So closing early is very attractive.

The typical loan can be put together in 30-45 days. There are even lenders who promote that they can close a loan in 2 weeks. I have seen that happen on one occasion. It was a builder and my client-buyer used the builders loan program. We went from contract to keys in 2 weeks. That was a motivated builder!

As much as a quick close is appealing and can be done, it really adds pressure to the buying experience. To close in 30 days or less you pretty much need to order the appraisal at the time that agreement is reached in the contract, which is prior to getting your home inspection. Because appraisers are now done by third party companies, this means that the appraisal has to be paid for whether you buy the house or not. So if the home inspection does not go well, it is money lost.

It also creates pressure the week of closing. Federal guidelines require that buyers receive a disclosure statement from their lender outlining the exact closing costs. This must be received and signed not less than 3 days before actually signing the loan documents. Then remember that most lenders want at least 24 hours after you sign your loan documents to review the papers before releasing the funds to close.

This is all about my suggestion that you go for a time line of 40-45 days. It just simply takes the pressure off and makes the experience more enjoyable. I know, I know, you want to be in by Thanksgiving….I’ll do whatever it takes to make it happen!
Dianne