Here’s my pick this week for a free & fun adventure in Lake Oswego this week~
First Tuesday Music at the Lake Oswego Public Library features Dr Bryce Colson. He will bring his portable organ console and accompany the classic movies J. Searle Dawley’s Frankenstein (1910) and Buster Keaton’s The Haunted House (1921). In between he’ll have some fun and educational insights to share with the audience. Sounds Like fun! Be there~
Feb 7th – 6-8PM, 706 Fourth St, Lake Oswego. Contact April Younglove for more info: 503-534-5667 ayounglove@ci.oswego.or.us
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:
Overview/Fluctuations ~ December 31, 2022 – YEAR-END Market Data:
Inventory has risen substantially over December last year, and steadily in the last few months. Average & Median Values have risen by approx. $40,000 over last year, which is good, but not as substantial an annual increase as in the previous few years. Activity/Volume (Actives/Pendings/Solds) decreased across the board from the last year/2021 and mostly occurring in the last few months as an apparent reaction to rates.
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)
Moving into a New Year, Dianne and I wish you hopefully some extra time to relax with family and friends, and a festive & safe New Year’s Celebration as we welcome the wonders that 2023 will bring us all…(“What could it be???…so exciting!” : )
Happy New Year to all our Property Blotter readers! We’ll catch you up on all the Lake Oswego Real Estate Happenings next week.
Whether you celebrate Christmas, Kwanzaa, Hanukkah, Solstice or a combination, Dianne and I wish you a peaceful & cozy holiday filled with warmth and loved-ones.
We’re taking a little break as we always do, and will catch you up with all the happenings in a couple of weeks.
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)
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.
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.
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.
