Category: Market Activity

Last week there were 15 properties New to the market in Lake Oswego. 10 received Offers and moved to Pending status, and 3 Sold/Closed. Right now there are 104 lovely homes available ranging from $199,900 to $11,500,000. Four are in “Bump-able” status meaning that they’re under some kind of contingent contract and you may view them and make an Offer of your own if you like.

Here is the breakdown according to RMLS:

NEW Jan 29-Feb 4, 2024

Address	List Price	Beds	Baths	SF	Prop Type
45 EAGLE CREST DR, #119	$299,119	$3	2	1348	CONDO
209 CERVANTES, Lower	$330,000	$2	1.1	1216	CONDO
284 CERVANTES, Lower	$345,000	$2	2	1052	CONDO
200 BURNHAM RD, #306	$359,000	$2	1	1199	CONDO
5052 FOOTHILLS DR, C	$445,000	$3	2	1252	CONDO
750 1ST ST, #26	$447,000	$2	2	1350	CONDO
1951 Greentree RD	$599,900	$3	3	2449	DETACHD
2818 POPLAR WAY	$650,000	$3	1	1056	DETACHD
2062 CEDAR CT	$898,000	$3	2	1805	DETACHD
4575 OAKRIDGE RD	$925,000	$3	2.1	1976	ATTACHD
18810 STAFFORD RD	$999,000	$2	1	1884	DETACHD
18100 BRYANT RD	$1,050,000	3	1.1	1804	DETACHD
5406 LANGFORD LN	$1,279,000	3	2.1	3415	DETACHD
18187 SIENA DR	$1,850,000	4	3.1	3908	DETACHD
17331 CANYON DR	$2,295,000	4	4	3795	DETACHD

PENDING Jan 29-Feb 4, 2024

Address	List Price	Beds	Baths	SF	Prop Type	Days
85 GALEN ST	$279,900	2	2	989	CONDO	113
4333 SILVER CT	$515,000	3	2.1	1902	CONDO	7
121 TOUCHSTONE TER	$560,000	3	2.1	1964	ATTACHD	4
5554 ROYAL OAKS DR	$850,000	3	2	1861	DETACHD	17
660 TIPPECANOE CT	$875,000	3	2	1538	DETACHD	3
939 SUNNY HILL DR	$949,900	4	2.1	3250	DETACHD	213
17890 ROYCE WAY	$1,000,000	6	3	3108	DETACHD	3
674 1ST ST	$1,175,000	2	2.1	2147	CONDO	173
18521 WAXWING CIR	$1,200,000	4	2.1	2936	DETACHD	72
1836 HIGHLANDS LOOP	$2,450,000	4	4.2	5494	DETACHD	449

SOLD Jan 29-Feb 4, 2024

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
3433 MCNARY PKWY #407	$275,000	$275,000	2	2	1008	CONDO	41
950 TERRACE DR	$1,950,000	$1,969,000	4	3.1	4619	DETACHD	21
17132 LOWENBERG TER	$2,100,000	$2,010,000	4	4.2	3322	DETACHD	61

Last week in Lake Oswego there were 6 new listings. One sold very fast and appears in this report as a pending sale. There were 13 properties that accepted offers and went into pending status. There were 6 properties that finalized the purchase and are now sold/closed.

See below for RMLS data.

New on the Market Jan 22-28, 2024

Address	Type	Price	Bedrooms	Baths	Sq Feet
750 1st St C-16	Condo	$395,000	2	2	1350
121 Touchstone Ter	Attached	$560,000	3	2.5	1964
3485 Devonshire Dr	Attached	$624,950	3	2	1556
3814 Rivers Edge Dr	Detached	$1,000,000	4	2.5	3213
668 McVey Ave #50	Condo	$1,295,000	1	1	636

Pending Jan 22-28, 2024

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
45 Eagle Crest Dr #122	Condo	$315,000	3	2	1348	8
14362 Sherbrook Pl	Attached	$475,000	2	1.5	1279	106
16184 Lake Forest Blvd	Detached	$510,000	3	1	1342	8
100 Leonard St 2-4	Condo	$550,000	2	2	1736	236
7 Peacock Pl	Detached	$579,000	3	2.5	1388	104
5733 Kimball Ct	Detached	$659,000	4	2	1346	159
12 Independence Ave	Detached	$839,500	4	4	2994	53
4690 Auburn Ln	Attached	$885,000	3	3.5	2750	76
4255 Chad Dr	Detached	$1,250,000	4	3.5	3853	15
4039 Canal Woods Ct	Detached	$1,450,000	4	3.5	4178	14
950 Terrace Dr	Detached	$1,950,000	4	3.5	4619	21
4394 Lords Ln	Detached	$1,975,000	4	3.5	3905	1
17132 Lowenberg Ter	Detached	$2,050,000	4	4.5+.5	3322	61

Closed/Sold Jan 22-28, 2024

Address	Type	List Price	Sold Price	Sq Feet	CDOM
16237 Lake Forest Blvd	Detached	$525,000	$525,000	1132	8
1621 Ash St	Detached	$699,900	$705,000	1887	3
369 5th St	Detached	$825,000	$750,000	1552	52
17903 Ridge Lake Dr	Detached	$854,999	$836,000	2540	72
4360 Westbay Rd	Detached	$1,274,000	$1,190,000	2636	66
670 1st St	Condo	$1,515,000	$1,392,400	2767	133

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 we saw sparse activity largely attributable to the challenging weather & frozen roads inhibiting travel. Even so, however, 4 homes entered the market, 3 moved to Pending status, and 4 Closed/Sold. Two of the three Pending sales were on the market a very short period of time, one of them 4 days appearing as both New and Pending in this same report…so people are out looking for and buying homes regardless of the weather!

Here is the breakdown according to RMLS:

NEW Jan 15-21, 2024

Address	List Price	Beds	Baths	SF	Prop Type
4000 CARMAN DR #91	$295,000	$1	1	767	CONDO
45 EAGLE CREST DR #122	$315,000	$3	2	1348	CONDO
3804 BOTTICELLI ST	$330,000	$2	1.1	1132	CONDO
16184 LAKE FOREST BLVD	$510,000	$3	1	1342	DETACHD

PENDING Jan 15-21, 2024

Address	List Price	Beds	Baths	SF	Prop Type	Days
4000 CARMAN DR #91	$295,000	$1	1	767	CONDO	3
4 SW TOUCHSTONE DR #135	$345,000	$3	2.1	1303	CONDO	15
2255 GLEN HAVEN RD	$859,000	$3	3	2814	DETACHD	206

SOLD Jan 15-21, 2024

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
11 OSWEGO #11	$332,800	$311,000	$2	2	1241	CONDO	2
4089 JEFFERSON PKWY	$445,000	$389,900	$2	2.1	1361	CONDO	446
16211 INVERURIE RD	$699,900	$725,000	$3	2.1	1819	DETACHD	26
2320 GLEN HAVEN RD	$2,169,900	$2,119,900	$3	4	3875	DETACHD	140

My first market activity report of the new year. Love it!

Last week in Lake Oswego there were 7 new listings, one of which sold quickly and appears in this report as a pending sale. There were 10 properties that accepted offers and moved to pending status, and there were 5 closed sales.

See below for RMLS data.

New Listings Jan 8-14, 2024

Address	Type	Price	Bedrooms	Baths	Sq Feet
200 Burnham Rd #209	Condo	$412,000	2	2	1305
5554 Royal Oaks Dr	Detached	$850,000	3	2	1861
5995 Shakespeare St	Detached	$929,950	3	3	2600
4039 Canal Woods Ct	Detached	$1,450,000	4	3.5	4178
2711 Greentree Rd	Detached	$1,749,000	5	3.5	3315
17660 Wayside Ln	Detached	$2,600,000	5	5.5	5975

Pending Sales Jan 8-14, 2024

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
1221 Boca Ratan Dr	Attached	$499,000	3	2.5	1812	78
51 Oriole Ln	Detached	$589,000	3	2	1216	99
16724 Roosevelt	Detached	$599,000	3	1.5	1270	3
369 5th St	Detached	$825,000	2	1	1552	52
21 Hidalgo St	Detached	$990,000	4	3	3392	78
29 Del Prado St	Detached	$1,050,000	4	2	3037	3
3857 Carman Dr	Detached	$1,095,000	3	2.5	2531	37
5320 Childs Rd	Detached	$2,100,000	6	3	4765	29
2320 Glen Haven Rd	Detached	$2,119,900	3	4	3875	10
4200 Old Gate Rd	Detached	$2,675,000	5	4.5	4871	9

Sold/Closed Jan 8-14, 2024

Address	Type	List Price	Closed Price	Sq Feet	CDOM
2031 Bonniebrae Dr	Attached	$555,000	$460,000	1611	119
12844 Boones Ferry Rd #117	Condo	$489,000	$475,000	1191	76
5453 Willow Ct	Attached	$762,000	$740,000	2446	91
1724 Oak St	Detached	$900,000	$878,000	2189	17
2348 Overlook Dr	Detached	$1,025,000	$900,000	2567	130

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.

It’s that time of year when our numbers have come in for the previous 12 months and we get to compare. I try to give a comprehensive look at the various areas or “Neighborhoods” (see Neighborhood Report graph below) that make up the Portland Metro area which includes Lake Oswego and breaks out our monthly comparison for LO also at the bottom. Here is the way it ended up!

Overview/Fluctuations ~ December 2023 – YEAR END Market Data:                                 

It’s been an interesting and atypical year in real estate overall. What we can see is that the market seems to be stabilizing with Inventory on it’s way to normalizing and prices stabilizing somewhat, ie still up over last year, while down seasonally from the month prior. We’ve seen a decreasing trend in Activity since the beginning of the Fed’s rate-hiking spree in Fall of 2022, and/but that seems to be turning around now based on 2024’s start and coinciding with the Fed backing off and anticipated/stated continuance of that. All in all, the experts are predicting a flourishing 2024 real estate market, and that’s what we’re seeing on the ground in Portland, OR. 

As for Lake Oswego: Lake Oswego is the standout that continues to see healthy appreciation through thick & thin!

 Rates: “Despite volatility with inflation numbers, rates are holding under 7% and looking great!”          Gary Boyer, Regional VP, Directors Mortgage

The twelve months of 2023 compared to 2022: New Listings, (29,689) decreased 18.%. Pending Sales (21,363) decreased 20.4%, and Closed Sales (20,941) decreased 25.2%. By Comparison, Twelve months of 2022 as compared to 2021 from last year’s December Report: New Listings, (36,210) decreased 10.7%. Pending Sales (26,852) decreased 24.2%, and Closed Sales (27,985) decreased 20.5%.

                                                                                                                                                                                                            

According to the RMLS Market Action Report  for the Portland Metro Area December 2023:

• There were 1,026 New Listings in December which is down 4.4% from 1,073 in Dec 2022 and down 43.9% from the 1,828 in the previous month/November.
• At 1,330 Dec 2023’s Closed Sales (Solds) are down 9.2% from Dec 2022’s 1,464, and  decreased 1.0% from the previous month’s total of 1,344.
• At 1,309 Dec 2023’s Pending Sales (Accepted Offers) are up 8.5% from Dec 2022’s 1,206, and down 9.2% from the previous month/November’s total of 1,441.
• The Average Sale Price for Dec 2023 of, $586,800 is up$20,100. from last year/Dec 2022’s $566,700, and dropped $9,300 from the p­­revious month/Nov’s $596,100. 
• The “Median Sale Price (the price smack dab in the middle of all sales) in Dec 2023 of $525,000 is up $17,500 from Dec 2022’s $507,500, & dropped $2,600 from Nov’s $527,600.

LAKE OSWEGO: (Month of Dec ’23)

171 Active Listings (Nov 199)
45 New Listings  (Nov 75)
46 Pending Sales (Nov 73)
60 Closed Sales  (Nov 81)
Average Sale Price for Dec: $1,095,500 (Nov $1,068,800,500)
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.
71 Days on the Market   (Nov 68)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS)

The first week of 2024 in Lake Oswego saw 7 New properties enter the market, 8 move to accepted Offer/Pending status, and 2 Closed/Sold. Right now there are 107 homes available in Lake Oswego ranging from $199,900 to $11,500,000.

Here is the breakdown according to RMLS:

NEW Jan 1-7, 2024

Address	List Price	Beds	Baths	SF	Prop Type
100 KERR PKWY #32	$199,900	$1	1	617	CONDO
4 TOUCHSTONE #68	$275,000	$2	2	984	CONDO
4 SW TOUCHSTONE DR #135	$345,000	$3	2.1	1303	CONDO
16724 ROOSEVELT AVE	$599,000	$3	1.1	1270	DETACHD
12123 ORCHARD HILL WAY	$874,900	$4	2.1	2841	DETACHD
950 TERRACE DR	$1,950,000	$4	3.1	4619	DETACHD
1515 CHERRY LN	$2,675,000	$5	5.1	5719	DETACHD

PENDING Jan 1-7, 2024

Address	List Price	Beds	Baths	SF	Prop Type	Days
4 TOUCHSTONE #68	$275,000	$2	2	984	CONDO	3
18017 TUALATA AVE	$595,500	$3	2	1124	DETACHD	18
14232 KIMBERLY CIR	$1,250,000	$4	3	3672	DETACHD	84
322 2ND ST	$1,250,000	$3	3.1	1974	ATTACHD	68
670 1ST ST	$1,399,900	$3	2.1	2767	CONDO	133
17104 CANAL CIR	$1,895,000	$4	3.1	3473	DETACHD	325
12790 S FIELDING RD	$4,990,000	$6	7.1	9124	DETACHD	143
4745 DOGWOOD DR	AUCTION	$4	4	3920	DETACHD	43

SOLD Jan 1-7, 2024

Address	Opening	Closed	Beds	Baths	Prop Type	SF	Days
1720 FERNWOOD DR	$579,000	$667,500	$3	2	DETACHD	1560	5
4740 LAMONT CT	$825,000	$794,900	$3	2	DETACHD	1776	52

I think last week, the week between Christmas and New Year’s, is probably the slowest week of the year for real estate activity. Yet, real estate still happens. In Lake Oswego there were 2 new listings, one of which sold quickly, and appears in this report as a pending sale. There were 3 pending sales, and, impressively, there were 10 closed sales.

The reason that real estate still happens, even on the slowest week of the year, is because life still happens. People get married, get new jobs, have babies, life goes on. There is literally no time of the year that isn’t a good time to buy a house or to sell a house.

See below for RMLS data.

New Listings Dec 25-31, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
4 Touchstone #143	Condo	$270,000	3	2.5	1350

Pending Sales Dec 25-31, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
1621 Ash St	Detached	$699,900	3	2	1887	3
2348 Overlook Dr	Detached	$963,000	5	3	2567	83
4360 Westbay Rd	Detached	$1,245,000	4	3	2636	30

Sold/Closed Dec 25-31, 2023

Address	Type	List Price	Closed Price	Sq Feet	CDOM
86 Kingsgate Rd #22	Condo	$335,000	$299,500	924	125
4621 Lakeview Blvd C3	Condo	$329,900	$331,500	1178	12
141 Touchstone Ct	Attached	$589,000	$575,000	2066	90
16240 Parker Rd	Detached	$679,000	$650,000	1454	269
5270 Red Leaf Rd	Detached	$700,000	$670,000	1330	47
6050 Childs Rd	Detached	$900,000	$850,000	2129	17
18368 Tamaway Dr	Detached	$1,150,000	$1,130,000	3741	40
3324 Sabina Ct	Detached	$1,250,000	$1,212,500	2550	7
4974 Cascara Ln	Detached	$1,285,000	$1,285,000	3476	2
5309 Denton Dr	Detached	$1,620,000	$1,465,000	3626	26

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, as we come right up on the end of the year, things are still moving right along for those of us involved in the life-changing activities of real estate! Yes, a little slowed down last week, but we have 2 homes entering the market, 4 moving into Pending status and 4 that Sold/Closed! Right now there are 106 properties available in Lake Oswego ranging from $250,000 to 2 at $11,500,000. I’m posting pics of those two on the high end below. Under that you’ll find the breakdown for last week per RMLS:

NEW Dec 18-24, 2023

Address	List Price	Beds	Baths	SF	Prop Type
18017 TUALATA AVE	$595,500	$3	2	1124	DETACHD
310 CHANDLER PL	$2,895,000	$4	3.1	3866	DETACHD

PENDING Dec 18-24, 2023

Address	List Price	Beds	Baths	SF	Prop Type	Days
640 SOUTH SHORE BLVD	$675,000	$3	2	2391	DETACHD	85
5453 WILLOW CT	$762,000	$3	2.1	2446	ATTACHD	91
12 INDEPENDENCE AVE	$839,500	$4	4	2994	DETACHD	23
6040 LAKEVIEW BLVD	$1,349,000	$5	3	3701	DETACHD	10

SOLD Dec 18-24, 2023

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
86 KINGSGATE RD #1202	$298,000	$285,000	$2	2	849	CONDO	10
4 TOUCHSTONE #119	$318,900	$301,425	$3	2.1	1351	CONDO	69
13349 HIDDEN BAY CT	$1,100,000	$940,000	$3	3	3012	DETACHD	7
2248 SUMMIT CT	$2,450,000	$2,390,000	$4	2	3024	DETACHD	100

Last week in Lake Oswego 6 new listings came onto the market, one of which sold quickly and appears in this report as a pending sale. 9 properties accepted offers and moved to pending status. 9 properties sold/closed so that 9 families could move in before Christmas.

See below for RMLS data.

New on the Market Dec 11-17, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
3433 McNary Pkwy #407	Condo	$275,000	2	2	1008
869 10th St	Detached	$849,900	2	1	1220
6040 Lakeview Blvd	Detached	$1,349,000	5	3	3701
5320 Childs Rd	Detached	$2,100,000	6	3	4765
2121 Wembley Park Rd	Detached	$2,999,900	5	5.5	5025

Pending Sales Dec 11-17, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
4 Touchstone #128	Condo	$250,000	3	2.5	1350	18
11 Oswego #11	Condo	$314,800	2	2	1241	26
4089 Jefferson Pkwy	Condo	$384,900	2	2.5	1361	140
2031 Bonniebrae Dr	Attached	$479,000	3	2	1611	119
16237 Lake Forest Blvd	Detached	$525,000	3	1	1132	8
6 The Grotto	Detached	$550,000	3	2	1381	9
16211 Inverurie Rd	Detached	$699,900	3	2.5	1819	2
4740 Lamont Ct	Detached	$799,900	3	2	1776	52
12 Independence Ave	Detached	$839,500	4	4	2992	16

Sold/Closed Dec 11-17, 2023

Address	Type	List Price	Sold Price	Sq Feet	CDOM
45 Eagle Crest Dr #402	Condo	$279,000	$220,000	768	71
159 Oswego Summit	Condo	$395,000	$320,000	1506	218
16131 Lindsay Ct	Detached	$680,000	$680,000	1832	28
2979 Dellwood Dr	Detached	$939,000	$750,000	3216	144
13990 Shireva Ct	Detached	$789,000	$755,000	1702	19
1 Creekside Terr	Detached	$1,185,000	$1,040,000	4230	42
4904 Parkhill St	Detached	$1,195,000	$1,200,000	3433	7
17393 Grandview Ct	Detached	$1,275,000	$1,243,548	3772	4
1120 Crestline Ct	Detached	$4,950,000	$4,350,000	6440	101

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.

Here is your breakdown from the previous month for Portland and surrounding areas including LO broken out at the bottom~

Overview/Fluctuations ~ November 2023 Market Data: 

This time of year Inventory tends to go up a bit, but it’s notable that this is the most Inventory we’ve seen in November since 2013.  I just sat in on an annual presentation of forward projections for the coming year, and the experts participating, which included Lawrence Yun, Chief Economist for NAR, expect rates to drop several times and land  around 5.75% by July. There is a lot of pent-up desire to sell among people who have been waiting for rates to drop a bit, and of course plenty of pent-up demand in Home-Buyers waiting for the same. For this reason, it is expected that we will see increasing activity starting in the spring & building as the year progresses.

Rates: “Rates have stabilized in the high sixes and I expect more good news going forward.” Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report  for the Portland Metro Area November 2023:

• There were 1,828 New Listings in November which is up 9.7% from 1,666 in Nov 2022 and down 17.2% from the 2,207 in the previous month/October.
• At 1,344 Nov 2023’s Closed Sales (Solds) are down 17.1% from Nov 2022’s 1,621, and decreased 19.5% from the previous month’s total of 1,670.
• At 1,441 Nov 2023’s Pending Sales (Accepted Offers) are down 3.8% from Nov 2022’s 1,498, and also down 11.3% from the previous month/October’s total of 1,625.
• The Average Sale Price for Nov 2023 of, $596,100 is up$11,500. from last year/Nov 2022’s $584,600, and up $3,400 from the p­­revious month/Oct’s $592,700. 
• The “Median Sale Price (the price smack dab in the middle of all sales) in Nov 2023 of $527,600 is up $1,700 from Nov 2022’s $525,900, & up $2,600 from Oct’s $525,000.

NEIGHBORHOODS:

LAKE OSWEGO: (Nov ’23)

199 Active Listings (Oct 248)
75 New Listings  (Oct 98)
73 Pending Sales (Oct 85)
81 Closed Sales  (Oct 85)
Average Sale Price for Nov: $1,068,800 (Oct $954,500)
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.
68 Days on the Market   (Oct 47)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS)