Category: General

Here you’ll find the overall Monthly Report plus year-end details and Neighborhood Stats as of Dec 31st, 2022, with Lake Oswego broken out below:

Rates: “Rates are still hovering in the lower 6% range. There has been less volatility lately which is a positive sign.” Gary Boyer, Regional VP, Directors Mortgage

The twelve months of 2022 compared to 2021: New Listings, (36,210) decreased 10.7%. Sales (26,852) decreased 24.2%, and Closed Sales (27,985) decreased 20.5%.         By Comparison, Twelve months of 2021 as compared to 2020 from last year’s December Report read: New Listings, (40,531) increased 5.4%. Pending Sales (35,405) increased 7.8%, and Closed  Sales (35,182) increased 9.8%.

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

• There were 1,073 New Listings in Dec 2022 – down 32.9% from 1,599 in Dec 2021 and down 35.6% from the previous month/Nov’s 1,666.
• At 1,464 Dec 2022’s Closed Sales (Solds) are down 43.3% from Dec 2021’s 2,582, and down 9.7% from the previous month/Nov 2022’s total of 1,621.
• At 1,206 Dec 2022’s Pending Sales (accepted Offers) are down 37.9% from Dec 2021’s 1,942, and also down 19.5% from the previous month/Nov’s total of 1,498.
• The Average Sale Price for December 2022 of, $566,700 is down $16,200 from last year/Dec 2021’s $582,900, and down $17,900 from the previous month/Nov’s $584,600.  YTD Average is 610,900, up 6.8%  (+15.8% in 2021)
• The “Median” Sale Price (the price smack dab in the middle of all sales) in December 2022 of $507,500 is down $3,500 from last year/Dec 2021’s $511,000, and down $18,400 from the previous month’s $525,900.  YTD Median is 548,400, up 7.7%   (+15.7% in 2021)                    

Neighborhoods/Areas of Portland:

LAKE OSWEGO (December 2022):

142 Active Listings (Nov 173)
40 New Listings  (Nov 73)
35 Pending Sales (Nov 48)
59 Closed Sales  (Nov 69)
Average Sale Price for Nov: $820,200 (Nov $1,003,400)
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.
58 Days on the Market   (Nov 42)

May we all carry forward the Dream & the deeds to make it real for ourselves and our children.

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

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)

Once again, I feel that the market is balance. I say this when the number of new listings, pending sales, and closed sales are very close.

Last week in Lake Oswego there were 10 new listings, two of which sold quickly and moved to pending status. There were 13 pending sales and 9 closed sales.

See below for details of RMLS data.

New on the Market Oct 24-30, 2022

Address	Type	Price	Bedrooms	Baths	Sq Feet
86 Kingsgate Rd B101	Condo	$340,000	2	2	938
236 Ridgeway Rd 16A	Condo	$360,000	2	1	914
5062 Foothills Dr H	Condo	$459,900	3	2	1252
1612 Lake Front Rd	Detached	$950,000	3	2	1831
2350 Southshore Blvd	Detached	$996,000	3	2.5	2236
141 Furnace St	Condo	$1,750,000	2	2.5	2249
1745 Mapleleaf Rd	Detached	$1,800,000	5	3.5	3661
1836 Highlands Loop	Detached	$2,695,000	4	4.5+.5	5494

Pending Sales Oct 24-30, 2022

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
86 Cervantes Cir 10-B	Condo	$235,000	2	1.5+.5	912	30
15235 Boones Way	Attached	$624,900	3	2	1686	5
12 Walking Woods Dr	Detached	$749,950	3	3	2224	2
17608 Sydni Ct	Attached	$775,000	4	2.5	2466	126
18706 Bryant Rd	Detached	$789,900	3	2.5	2489	6
14400 Trillium Ct	Detached	$839,000	4	2.5	3193	4
17810 Kelok Rd	Detached	$845,000	3	2	1557	9
314 2nd St	Condo	$850,000	3	3.5	1814	9
4051 Virginia Way	Detached	$999,000	4	2	1903	7
5550 Jean Rd	Detached	$1,499,000	4	4.5	3001	107
853 E Ave	Detached	$1,850,000	3	3.5	2839	22
17312 Bergis Farm Dr	Detached	$1,920,000	4	4.5+.5	4804	0
1625 Cloverleaf Rd	Detached	$2,199,000	4	4	3853	67

Closed/Sold Oct 24-30, 2022

Address	Type	List Price	Sold Price	Sq Feet	CDOM
48 Eagle Crest Dr 2A	Condo	$169,000	$215,000	1623	5
4724 Lamont Ct	Detached	$649,000	$633,000	1698	6
27 Partridge Ln	Detached	$699,000	$680,000	2317	15
17721 Overlook Cir	Detached	$890,000	$815,000	3172	71
4704 Cambridge Ct	Attached	$985,000	$1,008,000	2856	5
4360 West Bay Rd	Detached	$1,185,000	$1,175,000	2636	32
3763 Tempest Dr	Detached	$1,395,000	$1,300,000	2895	73
14383 Fosberg Rd	Detached	$2,250,000	$1,799,000	4543	152
15784 Twin Fir Rd	Detached	$2,200,000	$2,194,000	3471	20

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 in Lake Oswego there were 14 new listings, 4 of which sold quickly and are represented in this report as pending sales. There were 24 properties that moved to pending status and 14 sold/closed homes.

See below for RMLS details.

New on the Market Sept 12-18, 2022

Address	Type	Price	Bedrooms	Baths	Square Feet
900 Cornell St	Detached	$495,000	3	1.5	1300
103 Kingsgate Rd	Detached	$625,000	3	2.5	1352
27 Partridge Ln	Detached	$699,000	3	2	2317
918 Lake Front Rd	Detached	$700,000	2	1	921
4793 Auburn Ln	Attached	$750,000	3	2.5	2083
17944 Tualata Ave	Detached	$995,000	4	3	2325
19125 Olson Ave	Detached	$1,125,000	4	2.5	3828
1 Juarez St	Detached	$1,245,000	3	2.5	3388
17228 Blue Heron Rd	Detached	$1,829,000	4	2.5+.5	4236
13800 Goodall Rd Lot 1	Detached	$4,350,000	5	6.1	5642
13770 Goodall Rd Lot 2	Detached	$4,395,000	5	4.1	5933

Pending Sept 12-18, 2022

Address	Type	Price	Bedrooms	Baths	Square Feet	DOM
4 Touchstone #95	Condo	$219,900	2	2	984	8
4 Touchstone #77	Condo	$240,000	3	2.5	1351	51
4463 Thunder Vista Ln	Condo	$438,000	2	2.5	1741	2
113 Touchstone Terr	Attached	$510,000	3	2.5	2104	3
1272 Hide A Way Ct	Detached	$549,000	4	2	1816	3
15450 Stephanie Ct	Attached	$565,000	3	2.5	1662	66
5850 Kenny St	Detached	$589,000	2	2	1172	6
66 Weatherstone #35	Condo	$599,900	4	3.5	2465	20
8 Mountain Circle	Attached	$629,000	3	2	1316	5
1130 Hallinan Ct	Detached	$650,000	3	2	1463	4
18040 Belmore Ave	Detached	$674,900	3	2	2077	37
32 Independence Ave	Detached	$740,000	4	3.1	3420	5
18 Partridge Ln	Detached	$780,000	4	3	3145	17
2050 Southshore Blvd	Detached	$780,000	3	2.5	1629	10
67 Tanglewood Dr	Detached	$799,900	4	2.5	3149	56
490 Boca Ratan Dr	Detached	$824,900	3	2	2108	63
18591 Waxwing Way	Detached	$875,000	3	2.5	2145	32
2050 Wembley Park Rd	Detached	$1,099,500	4	2	1868	5
19125 Olson Ave	Detached	$1,125,000	4	2	3828	3
2777 Glen Haven Rd	Detached	$1,159,000	3	2.5	2560	102
13504 Streamside Dr	Detached	$1,279,000	4	2.5	3486	31
1625 Cloverleaf Rd	Detached	$2,375,000	4	4	3853	31
864 6th St	Detached	$2,998,000	5	4.5	5266	124
16561 Maple Circle	Detached	$3,800,000	4	3.5	3356	30

Sold/Closed Sept. 12-18, 2022

Address	Type	List Price	Sold Price	Square Feet	DOM
45 Oswego Summit	Condo	$240,000	$245,000	764	4
168 Oswego Summit	Condo	$330,000	$315,000	1383	29
4300 Botticelli St	Attached	$399,900	$374,900	1721	42
200 Burnham Rd #103	Condo	$419,500	$419,000	765	16
4 Weatherstone	Detached	$535,000	$480,000	1692	41
4266 Woodside Circle	Detached	$549,900	$502,000	1944	8
18690 Wood Duck Way	Detached	$775,000	$775,000	1895	0
5272 Tree St	Detached	$799,900	$810,000	1948	4
5557 Langford Ln	Detached	$839,000	$844,500	1539	15
1202 Spruce St	Detached	$850,000	$850,000	1706	3
63 Touchstone	Detached	$925,000	$885,000	3088	21
1571 HIghland Dr	Detached	$989,000	$980,000	3000	3
2600 Dellwood Dr	Detached	$1,600,000	$1,525,000	3690	314
17226 Chapin jWay	Detached	$2,600,000	$2,750,000	4930	1

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.

You work hard. Enjoy this Labor Day weekend! You are appreciated.