Lake Oswego Real Estate Blog
All About Lake Oswego, Oregon real estate topics
On this Christmas Day, Dianne and I wish you and your loved ones a holiday filled with all the cozy things you associate with this time of year. In this big world, we are grateful for so many things, and we wish you more of exactly what fills your home with Joy. Happy Holidays and Merry Christmas to you!
Many Realtors plan cruises and vacation trips at this time of year. Very early on in my real estate career, my Principal Broker handed me a tenet …an affirmation of sorts that I adopted as my own long ago when she said ~ “I am always busy in December.” And so it is.
Life goes on and people always have reasons to pursue changing their living environment no matter what time of year it is. You’ll often hear: “Wait till the spring” and the like. That may or may not be good advice when really looking at the individual’s situation and needs. I thought it might be useful to point out a few things about Real Estate at this time of year~
There are so many “extra” distractions right about now… gift-hunting, party-planning, wrapping, festive food-planning & preparation, school break planning for the kids…not to mention that it is often raining and cold and sometimes snowing. People who are looking for a home at this time of year are serious Buyers. So, as a homeowner who has a reason to make a life-change that involves selling your home right about now, the people coming through your home are not “just looking”. It’s a good thing to narrow/concentrate the Buyer-pool this way! Dianne also often points out that selling your property during the holidays allows you to really create those warm notes that often attract Buyers to a “home” rather than just a house~ Lights in the windows, festive decorations inside & out, and maybe even the smell of cookies authentically in the air. And from the other side of the equation~ Buyers, at this time of year may find they encounter Sellers who are more amenable to taking care of necessary safety/functional repair items and the tone is often more friendly with the goal of working toward mutual-benefit surrounding the transaction. ***So, generally, timing is usually some kind of factor for both the Buyer and the Seller right now which tends to create a cooperative mindset.
I thought it might be important for *someone* reading this to take note of these things should you find yourself in the midst of some life change nudging you to take action. As always, Dianne and I are here for you should this ever be the case.
Happy Holidays!
Last week Lake Oswego had 7 properties entering the market, 8 moving to Pending status and 7 that Closed/Sold. Right now there are 120 properties available ranging from $250/,000 to $11,500,000.
Here is the breakdown according to RMLS:
NEW Nov 20-26, 2023
| Address | List Price | Beds | Baths | SF | Prop Type |
| 4 TOUCHSTONE #128 | $250,000 | $3 | 2.1 | 1350 | CONDO |
| 11 OSWEGO #11 | $332,800 | $2 | 2 | 1241 | CONDO |
| 1724 OAK ST | $870,000 | $3 | 2 | 2689 | DETACHD |
| 18521 WAXWING CIR | $1,250,000 | $4 | 2.1 | 2936 | DETACHD |
| 4355 HAVEN ST | $1,999,900 | $4 | 4.1 | 3211 | DETACHD |
| 17132 LOWENBERG TER | $2,100,000 | $4 | 4.2 | 3322 | DETACHD |
| 4745 DOGWOOD DR | AUCTION | $4 | 4 | 3920 | DETACHD |
PENDING Nov 20-26, 2023
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 45 EAGLE CREST DR #402 | $219,900 | $1 | 1 | 768 | CONDO | 71 |
| 86 KINGSGATE RD / Upper | $298,000 | $2 | 2 | 849 | CONDO | 100 |
| 141 TOUCHSTONE CT | $589,000 | $3 | 2.1 | 2066 | ATTACHD | 90 |
| 16240 PARKER RD | $679,000 | $3 | 2 | 1454 | DETACHD | 269 |
| 13990 SHIREVA CT | $789,000 | $3 | 2 | 1702 | DETACHD | 19 |
| 369 5TH ST | $825,000 | $2 | 1 | 1552 | DETACHD | 4 |
| 6050 CHILDS RD | $900,000 | $3 | 1.1 | 2129 | DETACHD | 17 |
| 18368 TAMAWAY DR | $1,150,000 | $4 | 3 | 3741 | DETACHD | 40 |
SOLD Nov 20-26, 2023
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 51 GREENRIDGE CT | $475,000 | $453,457 | $2 | 2 | 1348 | ATTACHD | 30 |
| 12884 BOONES FERRY RD | $475,000 | $472,500 | $2 | 2.1 | 1210 | CONDO | 3 |
| 12802 BOONES FERRY RD | $479,900 | $479,900 | $3 | 2.1 | 1182 | CONDO | 87 |
| 1228 CEDAR ST | $625,000 | $610,000 | $3 | 2 | 1302 | DETACHD | 95 |
| 34 CHURCHILL DOWNS | $824,000 | $725,000 | $4 | 3 | 2080 | DETACHD | 56 |
| 3460 LAKE GROVE AVE | $1,498,000 | $1,450,000 | $3 | 2 | 1673 | DETACHD | 49 |
| 2275 GLEN HAVEN RD | $2,349,900 | $2,234,900 | $4 | 4 | 4109 | DETACHD | 2 |
Here are my picks for what to do in Lake Oswego this week!
Mon, Nov 6 , 2023 – Storyline Recording- Listen to short stories, book excerpts and poetry on demand, – INFO: CLICK HERE
Tues, Nov 7, 2023 – 2:30-4:30 PM – Slow Jam ~ Come & enjoy playing music with others! Bring your instrument and make some musical friends.. – ACC, 505 G Avenue Lake Oswego More Info: CLICK HERE
Wed, Nov 8, 2023 – 6:00 PM – Historic Resources Advisory Board ~ Review the Historic Preservation Grant from Lakewood Neighborhood, Revisions to the Historic Preservation Code, Parks Plan & More ~ Lake Oswego City Hall, 380 A Avenue ~ More Info : CLICK HERE
Thurs, Nov 9, 2023 – 6:00 PM – Teen Advisory Board! ~Be a part of planning programs including book groups, movie nights and more! ~ Lake Oswego Library, Lower Level, 706 Fourth St. – More Info: CLICK HERE
Fri, Nov 10, 2023 – 2:00-4:00 PM –Family Movie Matinee~ Start your long weekend with a movie on a rainy day at cozy Children’s Library. Featuring “Super”. ~ Lake Oswego Public Library, 706 Fourth St ~ More Info: CLICK HERE
If you have driven anywhere near the lake in the last week or so you can not have helped but notice that the water level is down significantly. So what’s up?
Every 3 years the water level for the lake is dropped about 10 feet. This allows people who live on the lake to repair their sea walls, boat houses, and docks. It also allows maintenance to be done for the sewer lines that run along the bottom of the lake. This year a large section in Blue Heron canal is being almost completely replaced.
The drawdown starts in mid October and ends in early December. Then the lake is refilled by rainfall through the winter.
I will also say that, from my experience, it does and nice job of cleaning up the water quality. The lake is prone to grasses and algae and that sort of thing. The summer after a drawdown, swimming in the lake is much nicer than it is the summer before a drawdown.
So it’s all good. The lake will be full in time for the nice spring weather.
I hope you have found this information useful.
Dianne
Here is your monthly look at what’s happening in Portland metro and how it relates to Lake Oswego (broken out at the bottom)
Overview/Fluctuations ~ Sept 2023 Market Data:
Activity is down as you’d expect in Fall (New, Pending & Closed categories dropped), Inventory is up & prices are down. If you’re a Buyer this is your season! If you’re a Seller, pricing right will draw out the activity & potential multiple Offers putting you in a good position. The bulk of overall sales are narrowed between the $400,000 – $700,000 price range.
Rates: “Geopolitical events are tempering the pressure on rates. Currently rates are in your mid 7% range.” Gary Boyer, Regional VP, Directors Mortgage
According to the RMLS Market Action Report for the Portland Metro Area-September 2023:
LAKE OSWEGO: (Sept ’23)
279 Active Listings (Aug 290)
137 New Listings (Aug 151)
98 Pending Sales (Aug 93)
75 Closed Sales (Aug 111)
Average Sale Price for Sept: $1,076,600 (Aug $1,184,900)
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.
51 Days on the Market (Aug 44)
The data listed above is as reported by the Regional Multiple Listing Service (RMLS
Here are my picks of what to do in Lake Oswego this week ~
Mon, Oct 9, 2023 – 4:00 PM – Planning Commission – Marylhurst Commons/Mercy Greenbrae Tour– The offsite meeting is for the purpose of learning more about this development in order to inform the City’s work to develop a Housing Production Strategy (HPS) in compliance with state House Bill 2003 (2019) (PP 22-0005) . Mercy Greenbrae Apartments: Greenbrae INFO HERE , INFO ON TOUR: CLICK HERE
Tues, Oct 10, 2023 – 1:00 PM – GRIEF RELIEF-Recover & Rebuild After Loss Series ~ Get help navigating through grief with tips, tools and discussion. This class is led by Georgena Grace, MA, RSCP, CRS who is a Trauma Specialist, Grief Guide, and the owner of the Integrated Wellbeing Institute. – ACC, 505 G Avenue Lake Oswego More Info: CLICK HERE
Wed, Oct 11, 2023 – 6:00 PM – Historic Resources Advisory Board ~ Review the Historic Preservation Grant from Lakewood Neighborhood, Revisions to the Historic Preservation Code, Parks Plan & More ~ Lake Oswego City Hall, 380 A Avenue ~ More Info : CLICK HERE
Thurs, Oct 12, 2023 – 6:00 PM – Teen Advisory Board! ~Be a part of planning programs including book groups, movie nights and more! ~ Lake Oswego Library, Lower Level, 706 Fourth St. – More Info: CLICK HERE
Fri, Oct 13, 2023 – 7:00-9:00 PM – Living Well Dance featuring the Millennium Dance Band ~ Come dance to big band music of the 30’s, 40’s & 50’s with an occasional ballroom favorite. (Under 14 requires adult accompaniment.) ~ CCP, 1060 Chandler Rd ~ More Info: CLICK HERE
Sat, Oct 14, 2023 – 10:00 AM-2:00 PM– Lake Oswego & West Linn Wellness Fair – All are welcome to this Free event dedicated to poviding a fun, educational day for people to learn more about health, wellness and sustainability opportunities throughout our surrounding communities. ~ Millennium Plaza Park, 200 1st Street ~ More Info : CLICK HERE
Last week in Lake Oswego we had 9 properties come onto the market, 2 of which sold quickly and appear in this report as pending sales. We had 16 properties go into pending status and 17 sold/closed sales.
See below for RMLS data.
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 284 Cervantes | Condo | $365,000 | 2 | 2 | 1052 |
| 16250 Pacific Hwy j#46 | Condo | $449,000 | 2 | 2 | 1305 |
| 16200 Pacific Hwy #29 | Condo | $500,000 | 2 | 2 | 1207 |
| 13349 Hidden Bay Ct | Detached | $,1,100,000 | 3 | 3 | 3012 |
| 14863 Twin Fir Ct | Detached | $1,170,000 | 4 | 3 | 2028 |
| 3894 Tamarack Ln | Detached | $1,499,000 | 4 | 3.5 | 4035 |
| 4688 Upper Dr | Detached | $2,198000 | 4 | 3.5 | 3962 |
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 3433 McNary Pdwy | Condo | $299,000 | 2 | 2 | 1008 | 38 |
| 4469 Golden Ln | Condo | $420,000 | 2 | 2.5 | 2002 | 30 |
| 17825 Tualata Ave | Detached | $535,000 | 3 | 1.5 | 1182 | 11 |
| 85 Tanglewood Dr | Detached | $599,000 | 4 | 3 | 2323 | 1 |
| 6 The Grotto | Detached | $599,000 | 3 | 2 | 1381 | 1 |
| 1368 Boca Ratan Dr | Attached | $610,000 | 3 | 2 | 1683 | 23 |
| 6062 Burma Rd | Detached | $639,000 | 5 | 2 | 1875 | 96 |
| 107 Kingsgate Rd | Detached | $674,900 | 3 | 2 | 1516 | 1 |
| 89 Kingsgate Rd | Detached | $675,000 | 3 | 2.5 | 1713 | 12 |
| 16 Aquinas St | Detached | $698,000 | 3 | 2.5 | 1720 | 27 |
| 16 Walking Woods Dr | Detached | 3 | 2.5 | 2897 | 6 | |
| 13104 Rogers Rd | Detached | $985,000 | 4 | 2.5 | 2889 | 3 |
| 885 Lake Forest Dr | Detached | $1,075,000 | 4 | 3 | 2206 | 11 |
| 353 3rd St | Attached | $1,195,000 | 3 | 3.5 | 2044 | 39 |
| 2600 Glenmorrie Dr | Detached | $2,298,000 | 4 | 3.5 | 4232 | 13 |
| 807 Ellis Ave | Detached | $3,600,000 | 5 | 5 | 5267 | 11 |
| Address | Type | List Price | Sold Price | Sq Feet | CDOM |
| 18 Britten Ct | Attached | $649,900 | $630,000 | 1972 | 56 |
| 16 Britten Ct | Attached | $665,000 | $655,832 | 1972 | 1 |
| 5050 Greentree Rd | Detached | $799,900 | $735,000 | 2052 | 49 |
| 5117 Greensborough Ct | Detached | 795,000 | $800,000 | 1692 | 4 |
| 13388 Auburn Ct | Attached | $839,500 | $800,000 | 2492 | 48 |
| 412 Livingood Ln | Detached | $998,900 | $935,000 | 3880 | 33 |
| 17532 Oak Meadow Ln | Detached | $1,299,900 | $1,225,000 | 3046 | 35 |
| 1255 Bickner St | Detached | $1,350,000 | $1,275,000 | 2817 | 25 |
| 17299 Lake Haven Dr | Detached | $1,329,000 | $1,400,000 | 2656 | 4 |
| 1888 Oak Knoll Ct | Detached | $1,495,000 | $1,400,000 | 3022 | 28 |
| 2301 Wembley Park Rd | Detached | $2,100,000 | $2,007,500 | 3600 | 23 |
| 15575 Village Dr | Detached | $2,225,000 | $2,087,870 | 3163 | 10 |
| 608 Cabana Ln | Detached | $2,595,000 | $2,595,000 | 2000 | 0 |
| 547 Northshore Rd | Detached | $2,250,000 | $2,600,000 | 3766 | 11 |
| 17264 Lake Haven Dr | Detached | $2,600,000 | $2,600,000 | 3911 | 0 |
| 1653 Lake Front Rd | Detached | $6,998,000 | $6,998,000 | 6274 | 0 |
| 4357 Southshore Blvd | Detached | $10,500,000 | $10,500,000 | 5162 | 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
Last week Lake Oswego saw 16 properties enter the market, 15 move to Pending status, and 15 Sold/Close. Right now there are 185 homes available ranging from $220,000 to $11,500,000.
Here is the breakdown:
NEW Aug 21-27, 2023
| Address | List Price | Beds | Baths | SF | Prop Type | |
| 30 CERVANTES CIR, Grnd | $281,000 | $2 | $1 | 1112 | CONDO | |
| 4316 BOTTICELLI ST | $495,000 | $2 | $2 | 2098 | CONDO | |
| 49 GREENRIDGE CT | $525,000 | $3 | $2 | 1596 | ATTACHD | |
| 13 MOUNTAIN CIR | $529,000 | $2 | $1 | 1374 | ATTACHD | |
| 17825 SW TUALATA AVE | $535,000 | $3 | $1 | 1182 | DETACHD | |
| 668 MCVEY AVE #57 | $589,000 | $3 | $1 | 992 | CONDO | |
| 141 TOUCHSTONE CT | $589,000 | $3 | $2 | 2066 | ATTACHD | |
| 15215 BOONES WAY | $639,500 | $3 | $2 | 1686 | ATTACHD | |
| 107 KINGSGATE RD | $674,900 | $3 | $2 | 1516 | DETACHD | |
| 135 KINGSGATE RD | $779,000 | $3 | $2 | 1720 | DETACHD | |
| 16 WALKING WOODS DR | $779,000 | $3 | $2 | 2897 | DETACHD | |
| 4954 MULHOLLAND DR | $819,000 | $3 | 2.1 | 2498 | ATTACHD | |
| 13104 ROGERS RD | $985,000 | $4 | 2.1 | 2889 | DETACHD | |
| 2348 OVERLOOK DR | $1,050,000 | $5 | 3 | 2567 | DETACHD | |
| 17867 Sundown CT | $1,100,000 | $3 | 3.1 | 2763 | DETACHD | |
| 1000 BICKNER ST | $1,150,000 | $4 | 2.1 | 1988 | DETACHD | |
| 13920 SHIREVA DR | $1,300,000 | $5 | 3 | 3212 | DETACHD | |
| 670 1ST ST | $1,515,000 | $3 | $2 | 2767 | CONDO | |
| 17257 BRYANT RD | $2,298,000 | $5 | $3 | 4789 | DETACHD | |
| 3188 GLENMORRIE DR | $3,650,000 | $5 | $5 | 5585 | DETACHD |
PENDING Aug 21-27, 2023
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 100 KERR PKWY #31 | $219,500 | $1 | $1 | 617 | CONDO | 14 |
| 100 GREENRIDGE CT | $525,000 | $3 | $2 | 2004 | ATTACHD | 6 |
| 49 GREENRIDGE CT | $525,000 | $3 | $2 | 1596 | ATTACHD | 3 |
| 13 MOUNTAIN CIR | $529,000 | $2 | $1 | 1374 | ATTACHD | 3 |
| 4323 LAKEVIEW BLVD | $550,000 | $4 | $2 | 1483 | DETACHD | 6 |
| 17347 ASHLEY CT | $749,000 | $4 | $2 | 2117 | ATTACHD | 79 |
| 34 CHURCHILL DOWNS | $799,000 | $4 | $3 | 2080 | DETACHD | 34 |
| 15718 MURWOOD CT | $840,000 | $3 | $2 | 1988 | DETACHD | 12 |
| 2255 GLEN HAVEN RD | $859,000 | $3 | $3 | 2814 | DETACHD | 55 |
| 5382 ROYAL OAKS DR | $1,180,000 | $4 | $2 | 2970 | DETACHD | 21 |
| 13880 KNAUS RD | $1,500,000 | $4 | $3 | 3762 | DETACHD | 58 |
SOLD Aug 21-27, 2023
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 5052 FOOTHILLS DR, D | $438,000 | $400,000 | $3 | $2 | 1252 | CONDO | 62 |
| 1127 Cedar St. | $599,000 | $575,000 | $3 | $1 | 1848 | DETACHD | 50 |
| 791 4TH ST | $799,900 | $725,000 | $3 | $2 | 1568 | DETACHD | 773 |
| 19443 KOKANEE CT | $824,900 | $801,000 | $4 | $2 | 2888 | DETACHD | 24 |
| 31 WALKING WOODS DR | $825,000 | $815,000 | $4 | $3 | 2855 | DETACHD | 25 |
| 5316 CHILDS RD | $1,200,000 | $1,175,000 | $5 | $2 | 3854 | DETACHD | 21 |
| 754 5TH ST | $1,250,000 | $1,270,000 | $3 | $3 | 2179 | DETACHD | 2 |
| 2886 UPPER DR | $1,389,000 | $1,300,000 | $4 | $3 | 2674 | DETACHD | 184 |
| 16661 PHANTOM BLUFF CT | $4,785,000 | $4,707,000 | $5 | $5 | 5371 | DETACHD | 1 |
There is a housing crisis. Not just here in Oregon, but nationwide. Simply put, there are not enough houses being built. This first started with the Great Recession. Many builders and developers shut down for about 4 years. When the housing market rebounded, the builders and developers simply did not catch back up. I heard a panel of economists on a Bloomberg podcast about a year ago quote the statistic that to meet demand nationwide, 3,000,000 new housing units need to be built each year. These can be small apartments or mega mansions, the housing need is in every shape and size. At the time of the podcast, the average being built annually was 1,300,000: not even half of the demand.
Our new Governor, Tina Kotek, has made construction of housing a top priority in her administration. To accomplish this, she is putting everything on the table, including revising, or perhaps even removing, tree ordinances. While I truly admire her willingness to open the conversation to every option, our stewardship of the environment is also a top priority for the citizens of this state. As you can imagine, it’s creating some real conversations (or should I say arguments?).
Steve Duin has written an excellent article on the subject that can be found at Oregonlive.com. To read it, click here. Interesting side note. I’ve been a big fan of the writings of Steve Duin for years. The Oregonian was a part of my daily routine and I always looked forward to Steve’s columns. Also, the very first house that I ever listed for sale in my real estate career was purchased by Steve. He still lives in that house.
To give you a summation of the article, he has in the past argued that the Urban Growth Boundary is part of the problem. In this article he admits to being taken to the woodshed by people who know better and that the real problem is not a lack of land, it’s a lack of infrastructure. Historically, infrastructure was subsidized by the Federal government. That financial support was eliminated by the Reagan administration. We have plenty of developable land currently within the UGB, trees and all, but the development costs are a huge obstacle to getting the housing built. I encourage you to read the article.
This is a bit off course from what I usually write. I hope that you have found it as interesting as I have.
Dianne