This gem turned up on my Facebook feed today: a boat tour of Oswego Lake circa 1987. Much remains (Lake Corporation Building, Jansen Island, The Cabanas), but so much has changed. Most of the tiny houses have been replaced by large mansions. It’s a fun visit to see how it was.
Market Activity September 2-8, 2024
Last week in Lake Oswego there were 17 properties that came onto the market. Of those, 3 sold quickly and appear in this report as pending sales. There were a total of 17 pending sales and 11 that completed escrow and now considered to be sold. Again, the market remains very balanced.
See below for RMLS data.
New on the Market September 2-8, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 45 Eagle Crest Dr #313 | Condo | $249,900 | 2 | 1.5+.5 | 1056 |
| 4 Touchstone #117 | Condo | $285,000 | 2 | 2 | 984 |
| 4 Touchstone #147 | Condo | $349,950 | 3 | 2.5 | 1351 |
| 4055 Jefferson Pkwy | Condo | $379,900 | 3 | 2.5 | 1210 |
| 6313 Alyssa Terr | Attached | $500,000 | 3 | 2.5 | 1534 |
| 27 Oriole Ln | Detached | $675,000 | 4 | 2.5 | 1851 |
| 5316 Lower Dr | Detached | $775,000 | 4 | 2.5 | 2016 |
| 23 Tanglewood Dr | Detached | $849,900 | 5 | 2.5 | 2522 |
| 855 Palisades Terrace Dr | Detached | $859,999 | 4 | 2.5 | 2221 |
| 1507 Cedar St | Detached | $1,249,000 | 3 | 2.5 | 2590 |
| 111 Ladd St | Detached | $1,250,000 | 3 | 2.5 | 2303 |
| 5718 Meadowcreek Ct | Detached | $1,580,000 | 5 | 4 | 3024 |
| 3131 Westview Ct | Detached | $1,986,000 | 4 | 4.5 | 4597 |
| 310 Chandler Pl | Detached | $2,595,000 | 4 | 3.5 | 3909 |
Pending Sales September 2-8, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 4638 Lower Dr | Condo | $299,900 | 2 | 1.5 | 1260 | 45 |
| 101 Oswego | Condo | $300,000 | 2 | 2 | 1212 | 36 |
| 4652 Lower Dr | Attached | $395,000 | 2 | 1.5 | 1170 | 23 |
| 5225 Jean Rd #312 | Condo | $415,000 | 2 | 2 | 1400 | 49 |
| 110 Greenridge Ct | Attached | $549,900 | 3 | 2.5 | 2868 | 74 |
| 4324 Woodside Cir | Attached | $579,000 | 2 | 2 | 1210 | 5 |
| 1419 Greentree Cir | Detached | $694,000 | 4 | 3 | 2250 | 6 |
| 45 Hillshire Dr | Detached | $749,900 | 3 | 2.5 | 2016 | 71 |
| 610 Boca Ratan Dr | Detached | $839,000 | 4 | 2 | 2566 | 115 |
| 4661 Trillium Woods | Attached | $925,000 | 3 | 2.5 | 2265 | 31 |
| 14190 Amberwood Cir | Detached | $1,000,000 | 4 | 3 | 3154 | 0 |
| 5552 Yorkshire Pl | Detached | $1,150,000 | 4 | 2.5 | 2637 | 9 |
| 15203 Lily Bay Ct | Detached | $1,350,000 | 4 | 2.5 | 3216 | 4 |
| 2990 Glen Eagles Rd | Detached | $1,495,000 | 4 | 2.5 | 3787 | 3 |
| 17288 Cedar Rd | Detached | $2,595,000 | 3 | 3 | 4267 | 75 |
| 17930 Kelok Rd | Detached | $3,149,900 | 5 | 3.5+.5 | 4715 | 41 |
| 1031 Sunningdale Rd | Detached | $4,400,000 | 5 | 5.5 | 5322 | 37 |
Sold/Closed September 2-8, 2024
| Address | Type | List Price | Sold Price | Sq Feet | CDOM |
| 220 Cervantes C | Condo | $329,500 | $329,500 | 1378 | 17 |
| 86 Kingsgate Rd C-201 | Condo | $345,000 | $345,000 | 938 | 4 |
| 668 McVey Ave #58 | Condo | $835,000 | $650,000 | 992 | 137 |
| 32 Nova Ct | Detached | $649,900 | $655,000 | 2190 | 1 |
| 2405 Knaus Rd | Detached | $785,000 | $695,000 | 1685 | 44 |
| 18421 Indian Creek Dr | Detached | $748,000 | $748,000 | 1836 | 13 |
| 13551 Southwood Ct | Detached | $1,175,000 | $1,090,000 | 3217 | 56 |
| 17129 Kelok Rd | Detached | $2,395,000 | $2,100,000 | 2896 | 19 |
| 1237 Lake Front Rd | Detached | $2,795,000 | $2,769,000 | 3378 | 20 |
| 2260 Summit Ct | Detached | $3,495,000 | $2,872,500 | 3797 | 390 |
| 17227 Canal Cir | Detached | $4,450,000 | $3,519,000 | 4720 | 176 |
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.
This Week in Lake Oswego
Living in Lake Oswego is an experience of community. That’s why we post these little snippets of activities offered by various groups! Here are my picks for what to do this coming week in Lake Oswego:
Sept 9, 2024 – 10:30 AM ~ Early Childhood Music and Movement In Mandarin Chinese (Repeats on Mondays )- This outstanding program is for young learners ages 2-5 ranging from little or no to high levels of fluency in Mandarin. The series includes movement, play, instruments and stories and is sponsored by the Friends of the Lake Oswego Public Library and admission is free/first come/first served. 706 Fourth St, Lake Oswego ~ CLICK HERE
Tues, Sept 10, 2024 – 2:30-4:30 PM ~ Slow Jam (Repeats Tuesdays) – 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, Sept 11, 2024 – 1:00-4:00 PM ~Creative Hands ( Repeats Wednesdays ) ~ Make new friends & join this group of volunteers working with donated materials that they turn into uselful items that are then donated to various non-profit organizations.~ACC, 505 G Avenue Lake Oswego ~ More Info : CLICK HERE
Thurs, Sept 12, 2024 – 5:30-6:30 PM ~Tree Protection Plans and Tree Code Violations- Workshop (Hybrid In-Person & Online)~ Learn about the City’s tree code requirements, including protecting trees during construction, including enforcement, violations & investigation. Lake Oswego City Hall – Council Chamber, 380 A Ave, Third Floor – More Info & Registration: CLICK HERE
Fri, Sept 13, 2024 – 10:00 AM ~Oktoberfest (Sept) in Mt. Angel~ All aboard! Join new & old friends alike enjoying a day in Mt Angel to experience Octoberfest with craft beers, German cuisine, live music, traditional dance & other cultural activities. Lunch TBA. Make it an unforgettable day! ~ More Info & Registration: CLICK HERE
Sat, Sept 14, 2024 – 8:30AM-1:30 PM – Lake Oswego Farmers Market!~ Wander through all the produce and artisan booths while listening to live music (10:30-12:30). This Farmers Market experience is not to be missed…if you’re looking for it you’ll find it here~ superior produce, meats, seafood, nuts, cheeses, artisan baked goods, jams, jellies, salsas, hummus, nursery items, hot foods, artisan crafts and more! ~ Millennium Plaza Park, 200 1st St, Lake Oswego~ More Info : CLICK HERE
Market Activity ~ Aug 26-Sept 1, 2024
Last week Lake Oswego saw 17 properties enter the market, 16 move to Pending status, and 18 that Sold/Closed. Right now there are 231 homes for sale ranging from $159,950 to $11,900,000.
Here is the breakdown:
NEW Aug 26-Sept 1, 2024
| Address | List Price | Beds | Baths | SF | Prop Type |
| 45 EAGLE CREST DR #506 | $230,000 | 1 | 1 | 600 | CONDO |
| 7161 CHILDS RD / Upper | $349,000 | 2 | 1 | 916 | CONDO |
| 4437 THUNDER VISTA LN | $499,000 | 2 | 2.1 | 2002 | CONDO |
| 4324 WOODSIDE CIR | $579,000 | 2 | 2 | 1210 | ATTACHD |
| 1419 GREENTREE CIR | $694,000 | 4 | 3 | 2250 | DETACHD |
| 13457 AUBURN CT | $749,000 | 3 | 2.1 | 1937 | ATTACHD |
| 16411 SW LAKE FOREST BLVD | $799,900 | 3 | 2 | 2180 | DETACHD |
| 1036 BULLOCK ST | $888,000 | 4 | 3 | 1965 | DETACHD |
| 16904 GREENTREE AVE | $920,000 | 4 | 3 | 3356 | DETACHD |
| 5552 YORKSHIRE PL | $1,150,000 | 4 | 2.1 | 2637 | DETACHD |
| 171 5TH ST | $1,399,900 | 4 | 2 | 2367 | DETACHD |
| 13869 AMBERWOOD CIR | $1,597,500 | 4 | 2.1 | 3405 | DETACHD |
| 1225 Spruce ST | $1,750,000 | 4 | 3.1 | 3482 | DETACHD |
| 3884 LAKE GROVE AVE | $2,450,000 | 5 | 3.1 | 4504 | DETACHD |
| 1777 SKYLAND DR | $2,625,000 | 4 | 3.1 | 4872 | DETACHD |
| 1527 LAKE FRONT RD | $7,350,000 | 5 | 6.1 | 7220 | DETACHD |
| 1900 TWIN POINTS RD | $8,800,000 | 5 | 3 | 6776 | DETACHD |
PENDING Aug 26-Sept 1, 2024
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 86 KINGSGATE RD, G102 | $315,000 | 2 | 2 | 849 | CONDO | 136 |
| 16625 ASTOR AVE | $550,000 | 3 | 2 | 1519 | DETACHD | 31 |
| 44 GREENRIDGE CT | $569,900 | 3 | 2.1 | 1996 | ATTACHD | 75 |
| 5271 CHINOOK CT | $650,000 | 3 | 2 | 1390 | DETACHD | 17 |
| 4980 CENTERWOOD ST | $730,000 | 3 | 2 | 1904 | DETACHD | 4 |
| 13457 AUBURN CT | $749,000 | 3 | 2.1 | 1937 | ATTACHD | 5 |
| 1795 OAK ST | $900,000 | 4 | 3.1 | 3632 | DETACHD | 25 |
| 19 SCARBOROUGH DR | $995,000 | 3 | 2 | 2875 | DETACHD | 68 |
| 6081 CLAIRMONT CT | $999,000 | 4 | 2.1 | 2680 | DETACHD | 101 |
| 782 SUNNY HILL DR | $1,145,000 | 3 | 2 | 2012 | DETACHD | 23 |
| 1928 PALISADES TERRACE DR | $1,195,000 | 5 | 5.1 | 4337 | DETACHD | 27 |
| 5254 WESTFIELD CT | $1,295,000 | 4 | 2.1 | 3346 | DETACHD | 5 |
| 17299 LAKE HAVEN DR | $1,485,000 | 4 | 2.1 | 2656 | DETACHD | 3 |
| 1699 VILLAGE PARK LN | $1,499,000 | 3 | 2.2 | 3085 | DETACHD | 23 |
| 18703 BRYANT RD | $2,364,900 | 4 | 4 | 4291 | DETACHD | 15 |
| 14062 GOODALL RD | $5,250,000 | 5 | 6.2 | 7365 | DETACHD | 4 |
SOLD/CLOSED Aug 26-Sept 1, 2024
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 61 GALEN RD / Grnd | $189,000 | $189,900 | 1 | 1 | 552 | CONDO | 35 |
| 82 CERVANTES CIR / Grnd | $234,997 | $243,000 | 2 | 1.1 | 912 | CONDO | 181 |
| 668 MCVEY AVE #42 | $449,000 | $379,000 | 2 | 1 | 852 | CONDO | 1 |
| 668 MCVEY AVE #14 | $395,000 | $390,000 | 1 | 1 | 636 | CONDO | 3 |
| 6435 FROST ST | $725,000 | $700,000 | 3 | 2.1 | 1838 | DETACHD | 108 |
| 4490 LAKEVIEW BLVD | $779,900 | $700,000 | 3 | 2 | 1727 | DETACHD | 48 |
| 15 CONDOLEA DR / Grnd | $699,000 | $720,000 | 3 | 3 | 2643 | CONDO | 33 |
| 15213 CANDLEWOOD CT | $1,079,000 | $995,000 | 4 | 2.1 | 2757 | DETACHD | 4 |
| 17 WESTMINSTER DR | $1,180,000 | $1,100,000 | 5 | 2.1 | 2736 | DETACHD | 18 |
| 5831 SUNCREEK DR | $1,200,000 | $1,225,000 | 4 | 2.1 | 2865 | DETACHD | 83 |
| 2222 CREST DR | $1,249,000 | $1,249,000 | 4 | 3 | 2820 | DETACHD | 2 |
| 5675 MERIDIAN CT | $1,400,000 | $1,400,000 | 4 | 3.1 | 3075 | DETACHD | 118 |
| 23 HILLSHIRE DR | $1,775,000 | $1,402,000 | 4 | 3.1 | 4360 | DETACHD | 285 |
| 2051 WEMBLEY PARK RD | $1,495,000 | $1,495,000 | 4 | 3 | 2750 | DETACHD | 3 |
| 1961 CHERYL CT | $1,995,000 | $1,915,000 | 5 | 4.1 | 5124 | DETACHD | 5 |
| 1755 MAPLELEAF RD | $2,500,000 | $2,500,000 | 4 | 4 | 4071 | DETACHD | 38 |
| 1475 SKYLAND DR | $5,875,000 | $5,000,000 | 6 | 6.2 | 8251 | DETACHD | 87 |
| 12780 S FIELDING RD | $5,795,000 | $5,750,000 | 5 | 5.5 | 8493 | DETACHD | 3 |
Emergency Preparedness Fair
Mark your calendars for Thursday, September 5th, 5 to 7pm. This free event is designed to help you and your family be prepared for emergency events such as earthquakes, floods, winter storms, and other disasters. As far off as these sorts of events may seem. They do happen.
My family and I went through a terrible winter storm last January. Our house lost power for 5 days when temperatures were a low a 16 degrees and didn’t get above freezing for 3 days straight. It was tough, but we got through it while remaining in our home to safeguard it from freezing pipes and to care for our pets. With proper equipment, we did fine.
This week’s Emergency Preparedness Fair will feature 20 booths plus programs and activities. This year will include The Big Shaker, the world’s largest mobile earthquake simulator. The Pacific Northwest is overdue for “the big one”. The area has a history of magnitude 9 earthquakes. It has happened here, and it will again.
Now is the time to think about and plan for these events. This is a great opportunity to prepare yourself and your family. The event will take place at city hall, 380 A Avenue.
Dianne
Market Activity August 19-25, 2024
As I have observed several times this summer, the real estate market in Lake Oswego remains very balanced with nearly equal numbers of properties entering the market as are selling. It’s a good time to both buy and to sell.
Last week in Lake Oswego we had 16 new listings come onto the market, 15 properties that accepted offers and went pending, and 14 closed sales.
See below for RMLS data.
New on the Market August 19-25, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 100 Kerr Pkwy #8 | Condo | $182,950 | 1 | 1 | 617 |
| 3433 McNary Pkwy 3303 | Condo | $299,500 | 2 | 2.5 | 1208 |
| 280 Cervantes | Condo | $395,000 | 2 | 2 | 1050 |
| 17681 Leafy Ln | Detached | $775,000 | 5 | 3 | 2242 |
| 12850 Alto Park Rd | Detached | $799,900 | 2 | 1.5 | 1147 |
| 16061 Waluga Dr | Detached | $799,900 | 1 | 1 | 676 |
| 4513 Oakridge Rd | Attached | $829,900 | 3 | 2.5 | 1974 |
| 18790 Bryant Rd | Detached | $875,000 | 3 | 2.5 | 2489 |
| 17701 Overlook Cir | Detached | $999,000 | 5 | 3 | 2864 |
| 18894 Bryant Rd | Detached | $1,249,000 | 4 | 4.5 | 4302 |
| 15468 Boones Way | Attached | $1,295,000 | 4 | 2.5 | 2401 |
| 990 Lund St | Detached | $1,695,000 | 4 | 3.5 | 3115 |
| 768 7th St | Detached | $1,895,000 | 3 | 3.5 | 2921 |
| 429 6th St | Detached | $1,895,000 | 4 | 2.5 | 3205 |
| 14400 Uplands Dr | Detached | $2,198,000 | 3 | 2.5 | 4267 |
| 13581 Goodall Rd | Detached | $3,450,000 | 4 | 4.5 | 5141 |
Pending Sales August 19-25, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 86 Kingsgate Rd C-201 | Condo | $345,000 | 2 | 2 | 938 | 4 |
| 1784 Bonniebrae Dr | Attached | $495,000 | 2 | 1.5 | 1393 | 11 |
| 12886 Boones Ferry Rd | Condo | $499,900 | 2 | 2.5 | 1182 | 11 |
| 5170 Lakeview Blvd | Detached | $695,000 | 3 | 2 | 1771 | 46 |
| 710 Timberline Dr | Detached | $775,000 | 4 | 3 | 2642 | 81 |
| 1419 Hemlock St | Detached | $799,000 | 5 | 3 | 2520 | 17 |
| 1620 Oak St | Detached | $950,000 | 3 | 2 | 2152 | 3 |
| 137 Furnace St | Condo | $1,595,000 | 3 | 2 | 1927 | 76 |
| 2120 Glenmorrie Dr | Detached | $1,699,000 | 4 | 3.5 | 4293 | 60 |
| 16337 Chapin Way | Detached | $2,095,000 | 5 | 4.5 | 5115 | 156 |
| 4688 Upper Dr | Detached | $2,150,000 | 4 | 3.5 | 3962 | 26 |
| 1515 Cherry Ln | Detached | $2,150,000 | 5 | 4.5 | 5719 | 83 |
| 535 Middlecrest Rd | Detached | $2,198,000 | 3 | 2.5+.5 | 2872 | 14 |
| 18015 Cardinal Dr | Detached | $3,674,900 | 4 | 3.5+.5 | 4119 | 201 |
| 1750 Northshore Rd | Detached | $4,750,000 | 3 | 2.5 | 3302 | 76 |
Sold/Closed August 19-25, 2024
| Address | Type | List Price | Sold Price | Sq Feet | CDOM |
| 45 Eagle Crest Dr $422 | Condo | $295,000 | $265,000 | 1348 | 69 |
| 4438 Thunder Vista Ln | Condo | $453,000 | $370,525 | 2040 | 107 |
| 102 Oswego Summit | Condo | $375,000 | $375,000 | 1506 | 1 |
| 5 Bloch Ter | Attached | $599,000 | $564,000 | 1971 | 57 |
| 5314 Tualata Ct | Detached | $815,000 | $785,000 | 24444 | 6 |
| 16849 Lakeridge Dr | Detached | $875,000 | $815,000 | 2208 | 53 |
| 17654 Cardinal Dr | Detached | $1,195,000 | $870,000 | 2042 | 150 |
| 20 Othello St | Detached | $950,000 | $942,000 | 2160 | 19 |
| 16792 Quail Ct | Detached | $1,275,000 | $1,237,000 | 3222 | 27 |
| 139 Del Prado St | Detached | $1,615,000 | $1,325,000 | 2935 | 150 |
| 14360 Amberwood Cir | Detached | $1,250,000 | $1,365,000 | 2845 | 2 |
| 16915 Greentree Ave | Detached | $1,499,950 | $1,425,000 | 2791 | 34 |
| 469 7th St | Detached | $1,875,000 | $1,595,000 | 4350 | 149 |
| 529 8th St | Detached | $2,400,000 | $2,275,000 | 3569 | 246 |
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.
Portland Area July 2024 Stats + LO
Here is your breakdown from the previous month/July for Portland and surrounding areas including LO broken out at the bottom. ***Be sure to check out the Neighborhood Report which categorizes down into smaller pieces.
July typically slows as folks are out of town on vacation and picks back up again in mid August. Average Sale Prices during the month of July in most all areas of Portland took a dip as homeowners competed for a smaller pool of Buyers, and Median Sale Prices (middle range-point) stayed essentially the same. Inventory is inching up, and people are generally anticipating the lowering of rates to come, when I expect more to be willing to part with their current home & move on to their next adventure.
Rates: “Good news on the inflation front is supporting the Fed cutting rates soon. Right now 30-year fixed rates are in the mid 6% range. Gary Boyer, Regional VP, Gold Star Mortgage Financial
According to the RMLS Market Action Report for the Portland Metro Area July 2024:
- There were 2,905 New Listings in July which is up 0.2% from 2,899 in July 2023 and down 4.6% from the 3,044 in the previous month/June.
- At 2,075 July 2024’s Closed Sales (Solds) are up 8.5% from July 2023’s 1,912 and down 0.3% from the previous month’s total of 2,081.
- At 2,191 July 2024’s Pending Sales (Accepted Offers) increased 2.1% from July 2023’s 2,145, and decreased 1.2% from the previous month/June’s total of 2,217.
- The Average Sale Price for July 2024 of, $622,900 is up$2,500. from last year/July 2023’s $620,400, and down $13,300 from the previous month/June’s $636,200.
- The “Median Sale Price (the price smack dab in the middle of all sales) in July 2024 of $550,000 is basically the same as July 2023’s $549,900, & down $15,000 from June’s $565,000
LAKE OSWEGO: (Month of July ’24)
337 Active Listings (Jun 316)
169 New Listings (Jun 173)
116 Pending Sales (Jun 107)
104 Closed Sales (Jun 98)
Average Sale Price for June: $1,156,200 (Jun $1.031,600)
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.
74 Days on the Market (Jun 48)
The data listed above is as reported by the Regional Multiple Listing Service (RMLS)
Market Activity ~ Aug 12-18, 2024
Last week Lake Oswego logged 14 properties entering the market (New), 11 moving to Pending status, and 16 that Sold/Closed. Right now there are 230 homes available ranging from $182,950 to $7,998,000.
Here is the breakdown:
NEW Aug 12-18, 2024
| Address | List Price | Beds | Baths | SF | Prop Type |
| 4000 CARMAN DR, A4 | $300,000 | 1 | 1 | 836 | CONDO |
| 86 KINGSGATE RD, C 201 | $345,000 | 2 | 2 | 938 | CONDO |
| 4652 LOWER DR | $395,000 | 2 | 1.1 | 1170 | ATTACHD |
| 200 BURNHAM RD, #103 | $425,000 | 1 | 1 | 765 | CONDO |
| 1784 BONNIEBRAE DR | $495,000 | 2 | 1.1 | 1393 | ATTACHD |
| 32 NOVA CT | $649,900 | 4 | 2.1 | 2190 | DETACHD |
| 54 AQUINAS ST | $899,000 | 4 | 2.1 | 2774 | DETACHD |
| 1620 Oak ST | $950,000 | 3 | 2 | 2152 | DETACHD |
| 1571 BAY VIEW LN | $1,299,000 | 3 | 2.1 | 2854 | DETACHD |
| 4874 SAGE HEN CIR | $1,300,000 | 4 | 2.1 | 2813 | DETACHD |
| 554 4TH ST | $1,575,000 | 4 | 4.2 | 3376 | ATTACHD |
| 18703 BRYANT RD | $2,364,900 | 4 | 4 | 4291 | DETACHD |
| 4540 DOGWOOD DR | $2,500,000 | 5 | 4 | 5535 | DETACHD |
| 1814 HIGHLANDS LOOP | $2,695,000 | 3 | 4.1 | 5635 | DETACHD |
PENDING Aug 12-18, 2024
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 90 GALEN ST / Upper | $219,900 | 1 | 1 | 552 | CONDO | 20 |
| 220 CERVANTES, C | $329,500 | 2 | 2 | 1378 | CONDO | 17 |
| 668 MCVEY AVE, #14 | $395,000 | 1 | 1 | 636 | CONDO | 181 |
| 2818 POPLAR WAY | $575,000 | 3 | 1 | 1056 | DETACHD | 199 |
| 5320 CHINOOK CT | $575,000 | 3 | 1.1 | 1008 | DETACHD | 22 |
| 32 NOVA CT | $649,900 | 4 | 2.1 | 2190 | DETACHD | 1 |
| 18421 INDIAN CREEK DR | $748,000 | 3 | 2 | 1836 | DETACHD | 13 |
| 4991 Centerwood ST | $1,025,000 | 4 | 2.1 | 2433 | DETACHD | 48 |
| 32 INDEPENDENCE AVE | $1,300,000 | 4 | 3.1 | 3277 | DETACHD | 46 |
| 2260 SUMMIT CT | $2,995,000 | 5 | 4.1 | 3797 | DETACHD | 390 |
| 13600 GOODALL RD | $3,299,900 | 6 | 6.1 | 6612 | DETACHD | 47 |
SOLD/CLOSED Aug 12-18, 2024
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 4 TOUCHSTONE, #114 | $285,000 | $290,000 | 2 | 2 | 993 | CONDO | 7 |
| 75 GALEN ST / Grnd | $303,000 | $305,000 | 2 | 2 | 989 | CONDO | 71 |
| 4 TOUCHSTONE, #90 | $305,000 | $305,000 | 3 | 2.1 | 1351 | CONDO | 23 |
| 3818 BOTTICELLI ST | $350,000 | $350,000 | 3 | 2 | 1259 | CONDO | 17 |
| 1652 BONNIEBRAE DR | $485,000 | $485,000 | 3 | 1.1 | 1303 | ATTACHD | 19 |
| 16441 Bonaire AVE | $865,000 | $825,000 | 4 | 2 | 1677 | DETACHD | 6 |
| 5081 GREENSBOROUGH CT | $925,000 | $825,000 | 4 | 2.1 | 2142 | DETACHD | 71 |
| 91 TANGLEWOOD DR | $925,000 | $830,000 | 3 | 2.2 | 3046 | DETACHD | 39 |
| 875 PALISADES TERRACE DR | $929,500 | $835,000 | 4 | 3 | 2181 | DETACHD | 270 |
| 3265 DUNCAN DR | $950,000 | $955,000 | 3 | 3.1 | 2136 | DETACHD | 2 |
| 15713 TARA PL | $975,000 | $975,000 | 4 | 2.1 | 3442 | DETACHD | 3 |
| 4500 WEST RD | $1,179,000 | $1,135,000 | 4 | 2.1 | 2479 | DETACHD | 54 |
| 4233 CHAD DR | $1,390,000 | $1,249,000 | 3 | 3 | 3403 | DETACHD | 18 |
| 17200 CANAL CIR | $1,379,000 | $1,390,000 | 3 | 2 | 1866 | DETACHD | 3 |
| 2464 PALISADES CREST DR | $1,450,000 | $1,425,000 | 5 | 3.1 | 4012 | DETACHD | 43 |
| 18347 LOTHLORIEN WAY | $1,700,000 | $1,650,000 | 5 | 3.2 | 3950 | DETACHD | 17 |
Nothing So Certain As Change
If you are paying attention to the headlines, you know that a big change happened in the Real Estate industry that went into effect last Saturday. It was the culmination of a lawsuit brought by the Department of Justice against the National Association of Realtors and several of the largest National Real Estate Brokerages.
The gist of the lawsuit was that the traditional method of agents who represent buyers to be paid resulted from the listing contract between the listing agent and the seller of a home. The Department of Justice determined that this was price fixing because it excluded the buyer from having any influence on the commission that their agent was paid. The courts agreed and in May a fine of 418 million dollars was imposed upon the defendants.
How does this affect you? It’s going to have a big impact when you buy or sell a home.
When you sell a home, your Realtor can not provide any information in the Multiple Listing Service that indicates whether or not you are willing to pay the buyer’s agent commission. I suppose that means that you could benefit because you only need to agree to pay your Realtor that you have hired to sell your property. Sounds pretty good, right? However you need to consider the situation that most buyers are in. They’re the folks who have to have enough money to pay their down payment and their closing costs. That is a big sum of money. Most buyers are pushing themselves financially to come up with these funds. As a seller, you are likely enjoying years of equity that has built up in your home. At the time of selling, you will be flush with cash, in most cases. Paying the buyer’s agent commission is likely more affordable for the seller than it is for the buyer.
As a buyer, you will have to enter into a contract with your buyer’s agent in which you agree to pay your Realtor. Being a Realtor is not a charity situation. Realtors need to know that they will be paid. If a seller declines to pay the buyer’s agent, the buyer will need to do so. So be prepared to financially plan to pay a buyer’s agent commission. That commission is negotiable and is between you and your Realtor.
From my perspective, I think that this new law will be very hard on buyers: particularly first time home buyers. That entry level market is already the most competitive and the most likely to involve multiple offers. The typical first time buyer is putting down a very small down payment. That already bodes badly for them when they are competing against investors who have large down payments or all cash. Now imagine that the seller has several offers and they are determining which brings them the most benefit. Are they going to go with the offer with a small down payment who also asks them to pay the buyer side commission? Nope. Not when there is an offer that not only has more cash on the table but also doesn’t ask them to pay an extra commission.
Last, I want to mention that it is now against the law for a Realtor who is not representing the seller to show a houses to a buyer without a Buyer Broker Compensation Agreement. So if you are casually calling around and asking Realtors to show you houses, you are going to have to have a signed contract to get into any house that the Realtor is not the listing agent for.
There really is nothing so certain as change. We will all get used to working with these new rules. I do like that it puts the buyer side commission right up front and creates an honest conversation. I also think it is not good for entry level buyers, but we will figure this out. We can do it.
Dianne
Market Activity August 5-11, 2024
We really are in the dog days of summer. Rush hour is unusually light on the freeways, the weather has been perfect, it just feels like folks are enjoying vacationing and the languid days before school starts. This is reflected in last week’s real estate activity. Lake Oswego had 13 new listings, one of which sold quickly and appears in this report as a pending sale. 17 properties went into pending status, and there were 9 closed sales. Good numbers showing on-going real estate activity, but a bit down from recent previous weeks.
See below for RMLS data.
New on the Market August 5-11, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 12 Cervantes Cir | Condo | $325,000 | 2 | 1.5 | 912 |
| 12886 Boones Ferry Rd | Condo | $499,900 | 2 | 2.5 | 1182 |
| 16538 Carnegia Ave | Detached | $589,900 | 3 | 1.5 | 1189 |
| 5271 Chinook Ct | Detached | $675,000 | 3 | 2 | 1390 |
| 4661 Trillium Woods | Attached | $925,000 | 3 | 2.5 | 2265 |
| 782 Sunny Hill Dr | Detached | $1,145,000 | 3 | 2 | 2012 |
| 5982 Harrington Ave | Detached | $1,199,000 | 3 | 3 | 3106 |
| 3037 Tolkien Ln | Detached | $1,350,000 | 4 | 3 | 3159 |
| 570 Middlecrest Rd | Detached | $1,685,000 | 3 | 2 | 2213 |
| 2065 Lilli Ln | Detached | $1,750,000 | 6 | 3.5 | 4457 |
| 535 Middlecrest Rd | Detached | $2,325,000 | 3 | 2.5+.5 | 2872 |
| 17575 Crestline Dr | Detached | $3,975,000 | 5 | 4.5+.5 | 7240 |
Pending Sales August 5-11, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 47 Eagle Crest Dr #20 | Condo | $297,000 | 2 | 1 | 1009 | 23 |
| 4438 Thunder Vista Ln | Condo | $400,000 | 2 | 2.5 | 2040 | 107 |
| 121 Leonard St C | Condo | $485,000 | 3 | 2 | 1413 | 25 |
| 4421 Upper Dr | Detached | $639,000 | 3 | 1.5 | 1176 | 2 |
| 127 Ash St | Detached | $650,000 | 5 | 2.5 | 3211 | 142 |
| 5215 Bonita Rd | Detached | $803,000 | 3 | 2 | 1761 | 67 |
| 5314 Tualata Ct | Detached | $815,000 | 3 | 2.5 | 2444 | 6 |
| 5379 Greystoke Dr | Detached | $830,000 | 3 | 2 | 1917 | 6 |
| 17900 Westview Dr | Detached | $875,000 | 3 | 2 | 1960 | 87 |
| 3060 Glenmorrie Dr | Detached | $1,475,000 | 3 | 2 | 4183 | 68 |
| 16915 Greentree Ave | Detached | $1,499,950 | 3 | 3 | 2791 | 34 |
| 469 7th St | Detached | $1,595,000 | 4 | 3.5 | 4350 | 149 |
| 16873 Canyon Dr | Detached | $2,250,000 | 5 | 4 | 3789 | 42 |
| 16337 Chapin Way | Detached | $2,295,000 | 5 | 4.5 | 5115 | 137 |
| 2430 Summit Ct | Detached | $3,249,000 | 3 | 3 | 3035 | 128 |
| 1551 Lake Front Rd | Detached | $3,850,000 | 5 | 3.5 | 3519 | 45 |
| 17227 Canal Cir | Detached | $3,950,000 | 5 | 4.5 | 4720 | 59 |
Sold/Closed August 5-11, 2024
| Address | Type | List Price | Closed Price | SQ Feet | CDOM |
| 5057 Foothillls Dr #B | Condo | $469,000 | $395,000 | 1252 | 64 |
| 18308 Pilkington Rd | Detached | $595,000 | $545,000 | 1511 | 30 |
| 57 Condolea Ter | Condo | $675,000 | $725,000 | 2172 | 2 |
| 19428 River Run Dr | Detached | $1,075,000 | $975,815 | 2918 | 44 |
| 3899 Tamarack Ln | Detached | $950,000 | $980,000 | 2743 | 3 |
| 15930 Twin Fir Rd | Detached | $1,250,000 | $1,220,000 | 2463 | 17 |
| 13546 Peters Rd | Detached | $1,200,000 | $1,272,000 | 3036 | 3 |
| 13707 Fielding Rd | Detached | $1,550,000 | $1,380,000 | 3277 | 93 |
| 361 10th St | Detached | $2,949,900 | $2,733,000 | 3710 | 140 |