Tag: why to buy a condo

Here is your look at the most recent data for the entire Portland area (June 2020) and how Lake Oswego fits in to this picture just below.

Inventory has dropped in June.  They all got snatched up in May!  ; )  Seriously, look at the 38% rise in June Closed sales over May. We are seeing a housing shortage in the overall Portland area and it is reflected in Buyers experiencing lots of multiple-offer situations and overall competition over properties that are in good shape and priced well. Sellers are noticing this trend and continuing to list properties for sale. I’m anticipating an extended busy period this summer after some pent-up COVID-inspired “waiting” from earlier in the spring that is spilling into the post-4th of July time period which is usually a bit slower.

My trusted Mortgage Advisors tell me: Rates are at historic lows hovering around 3% and lower in some circumstances.

According to the RMLS Market Action Report for the Portland Metro Area, June 2020:

• There were 3,658  New Listings in June 2020 which decreased 14.6%  from June of 2019’s 4,281, and/but increased 7% over the previous month/May’s 3,419.
• At 2,709, June 2020’s Closed Sales are down slightly at 1.7% from June 2019’s 2,756, and are up a whopping 38% from the previous month/May 2020’s total of 1,963
• At 3,654, June 2020’s Pending Sales are up 18.5% from June 2019’s 3,083, and also up 17.4% from the previous month/May 2020’s total of 3,112.
• The Average Sale Price in June 2020 of $479,700 is up $7,000 from last year/June 2019’s $472,700, and is also up $12,200 from the previous month/May 2020’s $467,500.   YTD increase is 2.6%.
• The “Median” Sale Price (the price smack dab in the middle of all sales) in June 2020 of $435,000 rose from last year/June 2019’s $420,000 by $15,000, and is up by $10,000 from the previous month/May 2020’s $425,000.   YTD increase is 3.9%.

Neighborhoods: June’s Average Sale Price + 12-month Appreciation:

• North Portland:  $447,500              3.0%   (May $442,900 )
  •                                                     YTD Median: $421,800
• NE Portland:  $486,200                   3.0%   (May $479,900)
  •                                                     YTD Median: $431,700
• SE Portland:  $462,800                   2.1%   (May $448,300  )
  •                                                     YTD Median: $390,000
• Gresham/Troutdale:   $383,000     1.8%   (May $358,800)
  •                                                     YTD Median: $361,000
• Milwaukie/Clackamas:  $479,600  3.7%   (May $435,200)
  •                                                     YTD Median: $433,000
• Oregon City/Canby:   $447,300      2.9%   (May $454,500)
  •                                                     YTD Median: $435,000
• Lake Oswego/West Linn:$721,800  3.9%  (May $698,500)
  •                                                      YTD Median: $605,400
• West Portland:    $609,400             -0.9%  (May $616,200)
  •                                                     YTD Median: $540,000
• NW Wash County:  $585,000          2.2%   (May $520,400)
  •                                                      YTD Median: $506,800
• Beaverton/Aloha:     $417,500       3.2%   (May $407,800)
  •                                                     YTD Median: $410,000
• Tigard/Wilsonville:   $504,400        3.7%   (May $502,400)
  •                                                      YTD Median: $465,000
• Hillsboro/Forest Grove: $433,100  5.7%   (May $422,100)
  •                                                      YTD Median: $400,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of June 2020 reported:

• •  315 Active Listings (May 324)
  •  216 New Listings     (May 209)
  •  196 Pending Sales   (May 169)
  •  135 Closed Sales       (May  92)
  • Average Sale Price for May: $721,800  (May $698,500)
    • 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.
  •  54 Average Days on the Market   (May 59)

 

Last week in Lake Oswego there were 19 New listings, 26 properties that went into Pending status, and 20 Closed sales.  There are currently 233 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (July 6-12, 2020)

Address	List Price	# Beds	# Baths	Prop Type	Total SF
4000 CARMAN DR, C39	$229,000	2	2	CONDO	866
207 OSWEGO SMT #207	$289,000	2	1.1	CONDO	1506
12844 BOONES FERRY RD / Grnd	$409,900	2	2.1	CONDO	1177
7 SUMMIT RIDGE CT	$449,000	2	2.1	ATTACHD	1704
200 BURNHAM RD #311	$599,000	3	2	CONDO	1894
4890 INDIAN CREEK CT	$699,000	3	2	DETACHD	2064
16969 ALDER CIR	$729,000	3	2	DETACHD	1676
3102 DUNCAN DR	$785,000	4	3.1	DETACHD	3910
15677 FIELDSTONE DR	$798,950	3	2.1	DETACHD	2527
2782 TOLKIEN LN	$799,000	4	3.1	DETACHD	3207
12986 KNAUS RD	$1,249,000	5	4	DETACHD	3242
2126 WEMBLEY PL	$1,425,000	4	3.1	DETACHD	3531
14190 SUNDELEAF DR	$1,459,900	5	4	DETACHD	3688
12812 ALTO PARK RD	$1,500,000	4	3.1	DETACHD	4040
3244 UPPER DR	$1,575,000	5	4.1	DETACHD	3730
1225 OAK TER	$1,600,000	5	4	DETACHD	3771
883 8th ST	$1,699,000	5	4.1	DETACHD	4546
16865 GREENBRIER RD	$2,595,000	5	5	DETACHD	6404
16649 MAPLE CIR	$3,095,000	4	3	DETACHD	2714

Pending Sales (July 6-12, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
104 OSWEGO SMT / Grnd	$195,000	1	1	943	CONDO	12
59 OSWEGO SMT / Upper	$237,900	2	2	1140	CONDO	59
4626 LOWER DR / Main	$239,000	2	1.1	1260	CONDO	57
82 OSWEGO SMT / Upper	$239,000	2	2	1212	CONDO	14
4000 CARMAN DR #31	$245,000	3	2	993	CONDO	184
6301 ALYSSA TER	$400,000	3	2.1	1546	ATTACHD	4
5881 FERNBROOK CIR	$419,000	4	1	1416	DETACHD	2
76 KINGSGATE RD	$434,900	2	2	1201	ATTACHD	6
121 WILBUR ST	$537,500	3	2	1631	CONDO	117
6221 NOKOMIS CT	$565,000	3	2	1870	DETACHD	1
19101 REDWING CT	$629,000	3	2	1434	DETACHD	5
4260 CHAPMAN WAY	$630,000	4	3	2301	DETACHD	16
4962 HARVARD CT	$649,900	4	2.1	2522	DETACHD	24
28 WESTRIDGE DR	$724,900	4	2.1	2580	DETACHD	4
1069 TIMBERLINE DR	$725,000	4	3	2173	DETACHD	7
5 WESTMINSTER DR	$729,900	5	3	3104	DETACHD	97
14321 CAMDEN LN	$759,900	4	2.1	2553	DETACHD	3
17610 WESTVIEW DR	$839,900	5	3	2924	DETACHD	2
4991 HARTFORD PL	$859,950	3	3.1	3098	DETACHD	5
24 DEL PRADO ST	$969,000	5	3.1	3357	DETACHD	22
5996 SUNCREEK DR	$995,000	4	3	3596	DETACHD	2
3938 EDENS EDGE DR	$1,199,990	4	3.1	3882	DETACHD	18
749 SOUTHVIEW RD	$1,325,000	4	3.1	3123	DETACHD	36
2130 WEMBLEY PL	$1,395,000	4	3.1	3651	DETACHD	442
18218 MEADOWLARK LN	$1,499,000	5	6.1	8320	DETACHD	397
4660 UPPER DR	$1,695,000	5	3.1	3898	DETACHD	209

Sold/Closed (July 6-12, 2020)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
9 OSWEGO SMT	$180,000	$165,000	1	1	764	CONDO	181
209 OSWEGO SMT / Upper	$250,000	$250,000	2	2	1383	CONDO	2
120 KINGSGATE RD	$519,800	$512,000	3	2.1	1699	DETACHD	15
1032 LAUREL ST	$609,900	$595,000	4	2	2426	DETACHD	109
6438 Frost ST	$625,000	$610,000	4	2.1	2269	DETACHD	39
17410 WREN CT	$749,900	$750,000	3	2.1	2550	DETACHD	4
173 FURNACE ST / Upper	$819,900	$775,000	2	2.1	2090	CONDO	18
1338 TIMBERLINE DR	$874,900	$810,000	3	3	3754	DETACHD	6
19681 PERCH CT	$923,000	$820,000	4	3	3307	DETACHD	82
4360 UPPER DR	$915,000	$895,000	3	2.1	2613	DETACHD	13
18483 RAY RIDGE DR	$925,000	$900,000	3	2.1	3245	DETACHD	9
2575 PALISADES CREST DR	$1,250,000	$975,000	4	4.1	5251	DETACHD	82
1267 MAPLE ST	$1,098,000	$1,050,000	4	2.1	3388	DETACHD	56
1225 LAKE GARDEN CT	$1,295,000	$1,162,500	4	3.2	3558	DETACHD	38
749 7TH ST	$1,385,000	$1,350,000	4	3.1	4651	DETACHD	28
839 F AVE	$1,450,000	$1,358,725	4	3.1	3780	DETACHD	109
475 IRON MOUNTAIN BLVD	$1,379,000	$1,390,000	4	2.2	3254	DETACHD	2
3040 STONEBRIDGE WAY	$1,590,000	$1,450,000	4	4.1	5829	DETACHD	100
17435 WREN CT	$1,750,000	$1,668,000	4	3	2960	DETACHD	443
4245 WEST BAY RD	$2,350,000	$2,250,000	4	3.1	2958	DETACHD	8

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 21 New listings, 27 properties that went into Pending status, and 14 Closed sales.  There are currently 212 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (June 22-28, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
104 OSWEGO SMT /Grnd	$195,000	1	1	943	CONDO
3930 LAKE GROVE AVE #3A	$210,800	2	1	956	CONDO
4 TOUCHSTONE #81	$224,950	3	2.1	1350	CONDO
82 OSWEGO SMT / Upper	$239,000	2	2	1212	CONDO
200 BURNHAM RD #303	$257,000	2	1	1200	CONDO
4260 CHAPMAN WAY	$630,000	4	3	2301	DETACHD
4403 OAKRIDGE RD	$760,000	3	2.1	2052	ATTACHD
19398 RIVER RUN DR	$799,900	4	3	2790	DETACHD
1953 SUMMIT DR	$889,000	4	3	3312	DETACHD
14360 TRILLIUM CT	$927,000	5	3	3558	DETACHD
15371 TWIN FIR RD	$1,050,000	4	2.1	2876	DETACHD
2085 RIDGE POINTE DR	$1,199,000	5	4.2	6575	DETACHD
17281 LOWENBERG TER	$1,225,000	4	3.1	3792	DETACHD
900 FAIRWAY RD	$1,295,000	5	3.1	3508	DETACHD
14480 KRUSE OAKS BLVD	$1,325,000	4	3.1	4661	DETACHD
827 8TH ST	$1,549,900	5	3.1	3852	DETACHD
3109 DOUGLAS CIR	$1,950,000	5	4.2	4880	DETACHD
1217 Lake Front RD	$2,195,000	3	2.1	2628	DETACHD
17253 KELOK RD	$2,659,000	5	4.1	4429	DETACHD
757 LAKE SHORE RD	$3,089,000	4	3.1	4098	DETACHD
3214 LAKEVIEW BLVD	$4,500,000	4	5	5922	DETACHD

Pending Sales (June 22-28, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
100 KERR PKWY #2	$170,000	2	2	822	CONDO	9
4 TOUCHSTONE #71	$198,000	2	2	984	CONDO	49
44 EAGLE CREST DR #41	$224,900	2	1	908	CONDO	30
200 BURNHAM RD #304	$329,000	2	2	1305	CONDO	25
5225 JEAN RD #304	$329,500	3	2	1400	CONDO	23
4324 BOTTICELLI ST	$339,000	2	2.1	2260	CONDO	89
1373 BONNIEBRAE DR	$370,000	3	2	1477	ATTACHD	3
4386 THUNDER VISTA LN	$399,900	2	2.1	1980	CONDO	41
111 TOUCHSTONE TER	$420,000	2	2	1341	ATTACHD	16
5071 TUALATA LN	$449,000	3	2	1540	DETACHD	5
16111 LINDSAY CT	$558,000	3	2.1	1840	DETACHD	34
13188 VERMEER DR	$589,000	3	2.1	1862	DETACHD	6
21 BECKET ST	$629,900	4	2.1	3070	DETACHD	93
1100 OAK TER	$635,000	4	2	1518	DETACHD	40
125 FURNACE ST #125	$799,000	2	2.1	1927	CONDO	78
17502 ERIN CT	$799,900	4	3	3014	DETACHD	13
2201 OVERLOOK DR	$825,000	4	2.1	3360	DETACHD	3
13751 CAMEO CT	$990,000	5	4	3350	DETACHD	97
815 OAK ST	$1,035,000	4	3.1	3836	DETACHD	6
14260 UPLANDS DR	$1,284,000	4	3	2831	DETACHD	5
18026 SKYLAND CIR	$1,399,000	5	3.1	4117	DETACHD	102
18965 Pilkington RD	$1,439,000	4	3	3926	DETACHD	19
157 6TH ST	$1,498,000	4	3.1	3614	DETACHD	953
17435 WREN CT	$1,699,000	4	3	2960	DETACHD	443
16645 GRAEF CIR	$1,825,000	4	3.2	3187	DETACHD	16
17537 CARDINAL DR	$1,880,000	5	4	5383	DETACHD	137
3124 LAKEVIEW BLVD	$2,950,000	5	4	3825	DETACHD	16

Sold/Closed (June 22-28, 2020)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
3918 CARMAN DR	$299,900	$298,150	2	2.1	1107	CONDO	77
200 BURNHAM RD #205	$320,000	$310,000	2	2	1305	CONDO	10
16675 BONAIRE AVE	$450,000	$450,000	3	1	1020	DETACHD	40
59 TOUCHSTONE	$450,000	$527,000	4	3	2924	DETACHD	4
16229 Lake Forest BLVD	$549,900	$535,000	4	3	2094	DETACHD	26
19026 ARROWWOOD AVE	$572,000	$578,900	3	2	1850	DETACHD	3
3 GARIBALDI ST	$749,900	$675,000	3	3	3137	DETACHD	153
1771 CAMPUS WAY	$668,000	$678,000	3	3	3247	DETACHD	3
6351 BURMA RD	$829,000	$820,000	4	4	3500	DETACHD	196
5364 LANGFORD LN	$869,000	$869,000	4	2.1	3022	DETACHD	25
5680 LA MESA CT	$975,000	$975,000	5	3.1	3405	DETACHD	3
1 DOVER WAY	$975,000	$1,075,000	4	3	3559	DETACHD	1
671 5TH ST	$1,285,000	$1,280,000	4	2.1	2781	DETACHD	20
16895 CHAPIN WAY	$1,495,000	$1,300,000	4	3.2	5182	DETACHD	304

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 look at the most recent data for the entire Portland area (May 2020) and how Lake Oswego fits in to this picture just below.

Inventory is down but only slightly from April. Overall we’re seeing an adjustment down in numbers overall as they relate to last year in May, and/but look at the numbers and how they’ve all risen from April, Closed Sales being down a slight 2.6% (fewer Offers made in March). You may remember my prediction that COVID and some freezing/panic in March were affecting April numbers. Now, as I suspected, we see what we’re all seeing anecdotally in the marketplace, which is people adapting to safety protocols and getting out there to buy and sell houses suiting their individual circumstances. So, down over May 2019, and up over April 2020. Look at the 52.5% rise in Pending sales over April!

My trusted Mortgage Advisors tell me:

According to the RMLS Market Action Report for the Portland Metro Area, May 2020:

• There were 3,419  New Listings in May 2020 which decreased 30.3%  from May of 2019’s 4,902, and/but increased 20.1% over the previous month/April’s 2,847.
• At 1,963, May 2020’s Closed Sales are down 33.9% from May 2019’s 2,969, and also decreased by 2.6% from the previous month/April 2020’s total of 2,015
• At 3,112, May 2020’s Pending Sales are down 5.5% from May 2019’s 3,292, and are up a whopping 52.5% from the previous month/April 2020’s total of 2,041.
• The Average Sale Price in May 2020 of $467,500 is down $3,700 from last year/May 2019’s $471,200, and is also down $9,900 from the previous month/April 2020’s $477,400.   YTD increase is 2.8%, however.
• The “Median” Sale Price (the price smack dab in the middle of all sales) in May 2020 of $425,000 rose from last year/May 2019’s $420,000 by $5,000, and is up by $1,000 from the previous month/April 2020’s $424,000.   YTD increase is 4.1%.

Neighborhoods: May’s Average Sale Price + 12-month Appreciation:

• North Portland:  $442,900              1.9%   (Apr $448,500 )
  •                                                     YTD Median: $410,000
• NE Portland:  $479,900                   2.9%   (Apr $491,200)
  •                                                     YTD Median: $429,900
• SE Portland:  $448,300                   1.3%   (Apr $449,200)
  •                                                     YTD Median: $389,500
• Gresham/Troutdale:   $358,800     2.3%   (Apr $371,900)
  •                                                     YTD Median: $360,000
• Milwaukie/Clackamas:  $435,200  3.8%   (Apr $457,600)
  •                                                     YTD Median: $429,900
• Oregon City/Canby:   $454,500      3.5%   (Apr $445,200)
  •                                                     YTD Median: $431,700
• Lake Oswego/West Linn:$698,500  4.1%  (Apr $772,500 )
  •                                                      YTD Median: $604,500
• West Portland:    $616,200             -1.3%  (Apr $642,000 )
  •                                                     YTD Median: $536,000
• NW Wash County:  $520,400          0.8%   (Apr $587,400 )
  •                                                      YTD Median: $492,000
• Beaverton/Aloha:     $407,800       2.9%   (Apr $431,100  )
  •                                                     YTD Median: $410,000
• Tigard/Wilsonville:   $502,400        2.7%   (Apr $474,600 )
  •                                                      YTD Median: $460,000
• Hillsboro/Forest Grove: $422,100  5.9%   (Apr $422,100)
  •                                                      YTD Median: $394,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of May 2020 reported:

• •  324 Active Listings (Apr 340)
  •  209 New Listings     (Apr 149)
  •  169 Pending Sales    (Apr  81)
  •   92 Closed Sales       (Apr 89)
  • Average Sale Price for May: $698,500  (Apr $772,500)
    • 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.
  •  59 Average Days on the Market   (Apr 76)

 

Last week in Lake Oswego there were 14 New listings, 20 properties that went into Pending status, and 32 Closed sales.  There are currently 220 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (June 8-14, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
4 TOUCHSTONE #126	$219,900	2	2	984	CONDO
5064 FOOTHILLS DR #19	$317,000	2	2	1252	CONDO
111 TOUCHSTONE TER	$420,000	2	2	1341	ATTACHD
71 TANGLEWOOD DR	$625,000	3	3	2616	DETACHD
17020 SW Denney CT	$650,000	2	2	2500	DETACHD
18706 BRYANT RD	$655,000	3	2.1	2489	DETACHD
7 BECKET ST	$785,000	4	3.1	4329	DETACHD
12562 SW ORCHARD HILL RD	$789,000	4	2.1	2574	DETACHD
17502 ERIN CT	$799,900	4	3	3014	DETACHD
18253 SIENA DR	$1,395,000	5	4	4375	DETACHD
3933 EDENS EDGE DR	$1,400,000	4	3.1	4436	DETACHD
4688 UPPER DR	$1,795,000	4	3.1	3962	DETACHD
16645 GRAEF CIR	$1,825,000	4	3.2	3187	DETACHD
3124 LAKEVIEW BLVD	$2,950,000	5	4	4011	DETACHD

Pending Sales (June 8-14, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
65 CHURCH ST	$293,000	2	2	1040	CONDO	38
2101 WEMBLEY PARK RD	$320,000	5	3	3410	DETACHD	2
12806 SW BOONES FERRY RD	$415,000	3	2.1	1174	CONDO	26
6050 FERNBROOK ST	$434,900	4	2	1546	DETACHD	65
4292 GALEWOOD ST	$549,900	3	2.1	1644	DETACHD	3
19211 INDIAN SPRINGS RD	$585,000	4	3	2132	DETACHD	1
5465 CHILDS RD	$589,900	4	2	1487	DETACHD	18
1268 SPRUCE ST	$665,000	4	2	2220	DETACHD	3
2388 OVERLOOK DR	$678,000	4	3	2765	DETACHD	5
14799 UPLANDS DR	$699,000	4	2	2150	DETACHD	110
1405 CEDAR ST	$749,900	3	2	2178	DETACHD	4
5950 HARRINGTON AVE	$795,000	4	3.1	2867	DETACHD	16
15119 QUARRY RD	$795,000	3	2	2086	DETACHD	16
64 CONDOLEA TER	$799,000	3	3	2958	CONDO	3
1338 TIMBERLINE DR	$874,900	3	3	3754	DETACHD	6
828 7TH ST	$898,900	3	4	2418	DETACHD	64
16 BERNINI CT	$1,150,000	6	5	4786	DETACHD	92
14414 PFEIFER DR	$1,248,000	4	3.1	3744	DETACHD	5
4245 WEST BAY RD	$2,350,000	4	3.1	2958	DETACHD	8
1415 SKYLAND DR	$3,995,000	5	4.1	6085	DETACHD	130

Sold/Closed (June 8-14, 2020)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
4 TOUCHSTONE	$170,000	$145,900	3	2.1	1351	CONDO	243
8 CERVANTES CIR	$209,900	$205,000	2	1.1	912	CONDO	17
35 OSWEGO SMT	$235,000	$240,000	2	2	1212	CONDO	3
5225 JEAN RD	$265,000	$255,000	2	2	1100	CONDO	56
200 OSWEGO SMT	$260,000	$265,000	2	2	1383	CONDO	2
4455 THUNDER VISTA LN	$330,000	$330,000	2	2.1	2002	CONDO	5
4270 WOODSIDE CIR	$357,500	$357,000	3	2	1944	CONDO	3
16870 CORTEZ CT	$449,900	$415,000	3	2	1800	DETACHD	80
5237 SW DAWN ST	$494,800	$474,000	3	1.1	1412	DETACHD	42
668 MCVEY AVE	$510,000	$482,000	3	2	1184	CONDO	221
100 KINGSGATE RD	$515,000	$508,000	3	2.1	1960	DETACHD	5
2091 COUNTRY CLUB RD	$618,000	$545,000	5	2	2112	DETACHD	109
16824 SW Inverurie RD	$565,000	$565,000	3	3	1945	DETACHD	1
3721 TEMPEST DR	$615,000	$583,500	4	2.1	2572	DETACHD	46
905 YORK RD	$649,000	$634,000	3	2	1657	DETACHD	10
383 ASH ST	$639,000	$639,000	3	2.1	1825	DETACHD	1
8 PARTRIDGE LN	$659,000	$659,000	4	2.1	3583	DETACHD	5
15773 SPRINGBROOK CT	$649,900	$662,000	3	2	1616	DETACHD	200
55 AQUINAS ST	$774,900	$743,200	5	3	3720	DETACHD	43
1590 COUNTRY CLUB RD	$950,000	$770,000	4	3.1	3799	DETACHD	251
5623 BAY CREEK DR	$845,000	$830,000	5	2.1	3042	DETACHD	20
3996 TEMPEST DR	$849,900	$849,900	4	2.2	3397	DETACHD	5
16792 QUAIL CT	$900,000	$875,000	4	2.1	3222	DETACHD	91
2535 GLENMORRIE DR	$899,900	$890,000	4	4	3134	DETACHD	87
4121 CHILDS RD	$956,000	$896,800	4	3.1	3396	DETACHD	76
1535 Pine ST	$879,900	$899,000	3	2.1	2390	DETACHD	0
5015 DENTON DR	$950,000	$940,000	4	2.1	3131	DETACHD	32
16495 GLENWOOD CT	$1,195,000	$1,160,000	5	3.1	4533	DETACHD	23
4720 FIRWOOD RD	$1,395,000	$1,310,000	4	3	3605	DETACHD	59
12822 ALTO PARK RD	$1,495,000	$1,460,000	4	4.1	3426	DETACHD	91
17281 KELOK RD	$1,875,000	$1,800,000	4	3	2699	DETACHD	4
2860 GLEN EAGLES RD	$2,748,000	$2,700,000	5	4.1	6800	DETACHD	3

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, 11 New properties entered the market, 19 moved to Pending status, and 11 were “Closed”/Sold. We also have 225 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 25-31, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
4 TOUCHSTONE #70	$279,950	3	2.1	1351	CONDO
200 BURNHAM RD #304	$329,000	2	2	1305	CONDO
4851 MADRONA ST	$585,000	4	2	1500	DETACHD
1601 ASH ST	$629,999	3	2	2045	DETACHD
13366 AUBURN CT	$689,000	3	2.1	2432	ATTACHD
5950 HARRINGTON AVE	$795,000	4	3.1	2867	DETACHD
15119 QUARRY RD	$795,000	3	2	2086	DETACHD
1985 COUNTRY CLUB RD	$1,050,000	4	4	3630	DETACHD
3131 WEMBLEY PARK RD	$1,395,000	4	3.1	3597	DETACHD
4423 WEST BAY RD	$2,399,900	4	3.1	2975	DETACHD
1730 NORTHSHORE RD	$4,500,000	4	3.1	4173	DETACHD

PENDING SALES (May 25-31, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
35 OSWEGO SMT / Main	$235,000	2	2	1212	CONDO	3
4626 LOWER DR / Main	$245,000	2	1.1	1260	CONDO	12
3918 CARMAN DR	$299,900	2	2.1	1107	CONDO	77
59 TOUCHSTONE	$450,000	4	3	2924	DETACHD	4
16229 Lake Forest BLVD	$544,900	4	3	2094	DETACHD	26
19232 PILKINGTON RD	$599,900	3	2.1	1735	CONDO	250
19200 REDWING CT	$599,900	4	3	2128	DETACHD	2
5474 BAY CREEK DR	$674,900	4	2.1	2322	DETACHD	3
16251 REESE RD	$745,000	3	2.1	2555	DETACHD	21
3778 RIVERS EDGE DR	$799,000	4	3.1	3012	DETACHD	4
19681 PERCH CT	$849,900	4	3	3307	DETACHD	82
14003 CHELSEA DR	$895,000	4	2.1	3270	DETACHD	2
950 CEDAR ST	$1,079,900	4	3.1	3266	DETACHD	79
16495 GLENWOOD CT	$1,195,000	5	3.1	4533	DETACHD	23
4190 CHAPMAN WAY	$1,249,000	3	3.1	3624	DETACHD	67
815 E AVE	$1,379,000	3	2.1	2796	DETACHD	3
2260 SUMMIT CT	$1,798,000	4	4.1	3797	DETACHD	436
931 ATWATER RD	$2,695,000	4	4.1	5059	DETACHD	58
1633 LESLIE LN	$2,725,000	5	4.2	5921	DETACHD	15

SOLD (May 25-31, 2020)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
1731 ASPEN CT	$489,000	$489,000	3	2	1440	DETACHD	6
77 kingsgate RD	$529,900	$542,000	3	2.1	1739	DETACHD	3
4900 INDIAN CREEK CT	$624,900	$595,000	4	3	2124	DETACHD	33
4257 LORDS LN	$600,000	$600,000	4	2	2097	DETACHD	0
1448 CEDAR ST	$649,000	$605,000	4	3	2544	DETACHD	244
4007 BASS LN	$699,000	$655,000	4	3	2648	DETACHD	14
15569 VILLAGE PARK CT	$729,000	$729,000	3	2.1	2850	DETACHD	4
620 1ST ST	$750,000	$745,000	3	3.1	1916	ATTACHD	34
259 PINE VALLEY RD	$850,000	$775,000	3	2	2010	DETACHD	16
4500 WEST RD	$899,000	$899,000	3	2.1	2479	DETACHD	17
1251 FOREST MEADOWS WAY	$2,125,000	$1,930,000	3	3.1	5000	DETACHD	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.

On this Memorial Day weekend, here is your look at the most recent data for the entire Portland area (April 2020) and how Lake Oswego fits in to this picture just below.

Inventory is up a bit in April, so we’ll see how that plays out in May numbers. As for April overall, this is the first month we’re really seeing the market take a bit of a hit since COVID19. Prices are still holding their own & rising while volume in all aspects of real estate dropped in April: Fewer New Listings, Pending Sales & SOLD’s than both the previous month & last year.  All areas are appreciating, however, save West Portland, and/but those prices have risen a bit in April (by $61,000 over March), so things seem likely to be leveling out there. Lake Oswego also saw an $85,000 Average Sale Price increase, and/but that can happen in an environment with such a wide span of prices from low/mid to upper end.

My trusted Mortgage Advisors tell me: Mortgage Rates are in the low 3’s for good borrowers on Conventional loans as of this writing, and Government loans (VA & FHA) have recently gone as low as 2.875% on good days.

According to the RMLS Market Action Report for the Portland Metro Area, April 2020:

• There were 2,847  New Listings in April 2020 which decreased 32.4%  from April of 2019’s 4,210, and also dropped 17.9% from the previous month/March’s 3,468.
• At 2,015, April 2020’s Closed Sales are down 16.4% from April 2019’s 2,409, and also down 14.5% from the previous month/March 2020’s total of 2,536
• At 2,041, April 2020’s Pending Sales are down 34.2% from April 2019’s 3,102, and also fell 13.0% from the previous month/March 2020’s total of 2,347.
• The Average Sale Price in April 2020 of $477,400 is up $25,300 from last year/April 2019’s $452,100, and is also up $11,900 from the previous month/March 2020’s $465,500.   YTD increase of 4.3%.
• The “Median” Sale Price (the price smack dab in the middle of all sales) in April 2020 of $424,000 rose from last year/April 2019’s $405,000 by $19,000, and is almost the same/down by $1,000 from the previous month/March 2020’s $425,000.   YTD increase of 3.9%.

Neighborhoods: April’s Average Sale Price + 12-month Appreciation:

• North Portland:  $448,500              1.9%   (Mar $441,300)
  •                                                     YTD Median: $410,000
• NE Portland:  $491,200                   4.8%   (Mar $470,500)
  •                                                     YTD Median: $425,000
• SE Portland:  $449,200                   1.8%   (Mar $442,600)
  •                                                     YTD Median: $385,000
• Gresham/Troutdale:   $371,900     3.5%   (Mar $355,000)
  •                                                     YTD Median: $358,000
• Milwaukie/Clackamas:  $457,600  4.3%   (Mar $466,100 )
  •                                                     YTD Median: $430,200
• Oregon City/Canby:   $445,200      3.7%   (Mar $447,000)
  •                                                     YTD Median: $430,000
• Lake Oswego/West Linn:$772,500  3.4%  (Mar $687,400)
  •                                                      YTD Median: $599,900
• West Portland:    $642,000             -0.4%  (Mar $580,400 )
  •                                                     YTD Median: $527,300
• NW Wash County:  $587,400          0.4%   (Mar $544,200 )
  •                                                      YTD Median: $492,300
• Beaverton/Aloha:     $431,100       3.8%   (Mar $445,100)
  •                                                     YTD Median: $412,000
• Tigard/Wilsonville:   $474,600        2.3%   (Mar $487,200 )
  •                                                      YTD Median: $459,500
• Hillsboro/Forest Grove: $422,100  6.4%   (Mar $406,900)
  •                                                      YTD Median: $391,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of April 2020 reported:

• •  340 Active Listings (Mar 305)
  •  149 New Listings     (Mar 183)
  •   81 Pending Sales    (Mar  87)
  •   89 Closed Sales      (Mar 103)
  • Average Sale Price for April: $772,500  (Mar $687,400)
    • 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.
  •  76 Average Days on the Market   (Mar 106)

 

Last week in Lake Oswego, 23 New properties entered the market, 16 moved to Pending status, and 13 were “Closed”/Sold. We also have 219 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 11-17, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
59 OSWEGO SMT	$244,900	2	2	1140	CONDO
4626 LOWER DR / Main	$245,000	2	1.1	1260	CONDO
4646 LOWER DR / Grnd	$275,000	2	2	1260	CONDO
16250 PACIFIC HWY #50	$339,500	2	2	1305	CONDO
4386 THUNDER VISTA LN	$399,900	2	2.1	1980	CONDO
27 GREENRIDGE CT	$420,000	3	2.1	2140	ATTACHD
12806 SW BOONES FERRY RD	$425,000	3	2.1	1174	CONDO
5215 MADRONA ST	$479,900	3	2	1325	DETACHD
22 MORNINGVIEW CIR	$562,500	3	2.1	3438	DETACHD
2941 SW ORCHARD HILL PL	$750,000	5	3.1	3446	DETACHD
4089 MELISSA DR	$815,000	4	2.1	2762	DETACHD
553 2ND ST	$890,000	2	2.1	1816	CONDO
1766 PALISADES TERRACE DR	$930,000	4	2.1	2805	DETACHD
19125 35TH PL	$1,175,000	4	4.1	5153	DETACHD
671 5TH ST	$1,285,000	4	2.1	2781	DETACHD
16206 REESE RD	$1,625,000	4	3.1	3631	DETACHD
3920 UPPER DR	$1,690,000	4	3.1	3800	DETACHD
18099 GREEN BLUFF DR	$1,695,000	4	3.1	5343	DETACHD
129 FURNACE ST / Upper	$1,995,000	4	4.1	4911	CONDO
19491 Lorna LN	$2,195,000	4	4.1	4343	DETACHD
19494 SW LORNA LN	$2,499,000	5	3.1	4830	DETACHD
1633 LESLIE LN	$2,725,000	5	4.2	5921	DETACHD
13490 FIELDING RD	$3,398,000	5	6.1	8286	DETACHD

PENDING SALES (May 11-17, 2020)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
9 OSWEGO SMT	$175,000	1	1	764	CONDO	181
47 OSWEGO SMT	$249,900	2	2	1212	CONDO	28
4455 THUNDER VISTA LN	$330,000	2	2.1	2002	CONDO	5
19 BLOCH TER	$420,000	2	2	1527	ATTACHD	73
16675 BONAIRE AVE	$439,000	3	1	1020	DETACHD	40
1042 YATES ST	$469,900	3	1.1	1100	DETACHD	4
100 KINGSGATE RD	$515,000	3	2.1	1960	DETACHD	5
16824 SW Inverurie RD	$565,000	3	3	1945	DETACHD	1
3721 TEMPEST DR	$600,000	4	2.1	2572	DETACHD	46
6438 Frost ST	$625,000	4	2.1	2269	DETACHD	39
184 D AVE	$647,000	3	2.1	1636	ATTACHD	37
2535 GLENMORRIE DR	$899,900	4	4	3134	DETACHD	87
5680 LA MESA CT	$975,000	5	3.1	3405	DETACHD	3
475 IRON MOUNTAIN BLVD	$1,379,000	4	2.2	3254	DETACHD	2
16895 CHAPIN WAY	$1,439,000	4	3.2	5182	DETACHD	304
12822 ALTO PARK RD	$1,495,000	4	4.1	3426	DETACHD	91

SOLD (May 11-17, 2020)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
5053 FOOTHILLS DR #A	$329,900	$299,000	3	2	1252	CONDO	78
18540 SW KRISTI WAY	$424,900	$424,000	3	1.1	1277	DETACHD	26
16910 TRACY AVE	$450,000	$450,000	3	2	1176	DETACHD	2
19230 SW REDWING CT	$455,000	$474,000	4	2.1	1842	DETACHD	62
1001 HALLINAN ST	$569,000	$508,000	4	2	2580	DETACHD	30
100 LEONARD ST	$569,000	$530,000	3	2	1736	CONDO	188
5511 ROYAL OAKS DR	$575,000	$603,189	3	2	1898	DETACHD	6
16212 SW KIMBALL ST	$599,000	$616,000	4	2.1	1844	DETACHD	4
2103 RIDGEWOOD RD	$664,900	$656,000	4	2	1650	DETACHD	83
18679 INDIAN CREEK DR	$659,428	$659,428	4	2.1	2292	DETACHD	2
4092 COLTSFOOT LN	$750,000	$721,500	4	3	2405	DETACHD	3
4799 LAMONT WAY	$925,000	$925,000	3	2.1	3142	DETACHD	1
5745 Washington CT	$1,149,000	$1,035,000	4	3.1	2841	DETACHD

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.