Market Activity May 13-19, 2024

Last week in Lake Oswego there was a surge of new listings. 27 properties came onto the market. Of those, 3 sold quickly and appear in this report as pending sales. There were 17 properties that accepted offers and went into pending status, and there were 15 sold/closed transactions.

See below for RMLS data.

New on the Market May 13-19, 2024

AddressTypePriceBedroomsBathsSq Feet
4 TouchstoneCondo$325,00032.51351
5057 Foothills Dr #bCondo$469,000221252
35 Greenridge CtAttached$549,900321596
120 Condolea DrCondo$739,000332958
18959 Kristi WayDetached$765,000321783
1690 Woodland TerDetached$830,00032.51933
2 Creekside TerDetached$879,00052.52905
610 Boca Ratan DrDetached$879,000422566
5081 Greensborough CtDetached$925,00042.52142
6081 Clairmont CtDetached$975,00042.52680
17900 Westview DrDetached$998,00032.51960
13551 Southwood CtDetached$1,175,00042.53217
3 Scarborough DrDetached$1,190,000543778
1193 Troon RdDetached$1,200,00032.52659
18365 65th AveDetached$1,475,000543331
16625 Pacific HwyDetached$1,495,00043.53542
19099 Megan PlDetached$1,575,00043.54400
915 Cedar StDetached$1,650,00043.53219
19626 Perch CtDetached$1,899,00042.53370
17309 Westview DrDetached$2,395,00043.53973
17288 Blue Heron RdDetached$2,550,00042.54128
3876 Lake Grove AveDetached$2,699,00053.54205
455 G AveDetached$3,250,00053.54819
4340 Lakeview BlvdDetached$4,750,00054.54191

Pending Sales May 13-19, 2024

AddressTypePriceBedroomsBathsSq FeetDOM
4000 Carman Dr A8Condo$325,0002228691
16250 Pacific Hwy #46Condo$414,000221305259
37 Greenridge CtAttached$495,00021.5117628
18296 Indian Springs RdDetached$849,5005328793
383 Ash StDetached$850,00032.518108
15555 Heritage CtDetached$884,90032.5225368
1 El Greco StDetached$899,91442.522961
17942 Saint Clair DrDetached$925,00042.5253313
4737 Lakeview BlvdDetached$950,00042.5254610
14231 Edenberry DrDetached$999,99942.5293688
19237 Terry AveDetached$1,089,00053.529199
4079 Coltsfoot LnDetached$1,089,00044330882
17244 Fernwood DrDetached$1,180,00042.526174
2917 Westview CirDetached$1,690,00054.543434
4350 Lords LnDetached$2,175,0005440224
529 8th StDetached$2,299,90043.53569178
1192 Andrews RdDetached$2,695,00054,546064

Sold/Closed May 13-19, 2024

AddressTypeList PriceClosed PriceSq FeetCDOM
86 Kingsgate Rd #46Condo$335,000$335,0009383
16250 Pacific Hwy #58Condo$369,900$362,500130517
14362 Sherbrook PlAttached$499,000$465,0001279184
69 Condolea TerCondo$620,000$616,00021572
16902 Lower Meadows DrDetached$724,900$700,0001768189
2924 Orchard Hill PlDetached$754,900$760,00022641
2703 Orchard Hill PlDetached$745,000$815,00032924
2912 Orchard Hill PlDetached$990,000$967,50035722
13536 Streamside DrDetached$1,249,000$1,249,00030024
3875 Carman DrDetached$1,395,000$1,434,369329062
1687 Village Park LnDetached$1,599,000$1,540,0003
940 Capilano CtDetached$1,675,000$1,675,00034544
729 3rd StDetached$1,750,000$1,745,000274827
17228 Blue Heron RdDetached$1,875,000$1,769,0004236248
1012 Lake Front RdDetached$3,499,900$3,177,4004735527

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 April 2024 Stats + LO

Here is your breakdown from the previous month/April 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.

Overview/Fluctuations ~ April 2024 Market Data:

The biggest takeway for me from April’s report is that prices are increasing, and significantly, over the prior month in almost every area.  Inventory remains low only inching up slightly, but we saw a spike in New Listings which were up 28.7% over the prior month. I’m always watching the changes and looking for trends. Though we have low inventory, prices are trending up at a good pace, and it’s better to buy when prices are lower and refi later than wait for rates to drop & pay more.

Rates: “Positive reports on inflation are pushing rates down into the upper 6% range.”               Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report for the Portland Metro Area April 2024:

  • There were 3,120 New Listings in April which is up 17.6% from 2,653 in April 2023 and up 28.7% from the 2,425 in the previous month/March.
  • At 1,883 April 2024’s Closed Sales (Solds) are up 10.3% from April 2023’s 1,707 and up 19.3% from the previous month’s total of 1,578.
  • At 2,313 April 2024’s Pending Sales (Accepted Offers) are up 6.9% from March 2023’s 2,164, and up 8.2% from the previous month/March’s total of 2,138.
  • The Average Sale Price for March 2024 of, $618,900 is up$12,800. from last year/April 2023’s $606,100, and up $28,500 from the p­­revious month/March’s $590,400. 
  • The “Median Sale Price (the price smack dab in the middle of all sales) in April 2024 of $543,000 is up $13,000 from April 2023’s $530,000, & up $8,000 from March’s $535,000  

LAKE OSWEGO: (Month of April ’24)

253 Active Listings (Mar 185)
165 New Listings  (Mar 147)
107 Pending Sales (Mar 121)
117 Closed Sales  (Mar 78)
Average Sale Price for April: $1,029,900 (Mar $1,094,000)
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   (Mar 85)

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

Market Activity ~ May 6-12, 2024

Last week we had 18 properties enter the market in Lake Oswego, another 18 move to Pending status, and 7 that Sold/Closed. Right now there are 173 homes available ranging from $180,000 to $11,500,000.

Here is the breakdown:

NEW May 6-12, 2024

AddressList PriceBedsBathsSFProp Type
44 EAGLE CREST DR #12$239,90011798CONDO
45 EAGLE CREST DR #422$295,000321348CONDO
4 TOUCHSTONE #77$365,00032.11351CONDO
16411 SW LAKE FOREST BLVD$400,000321774DETACHD
825 OAK ST$685,000321339DETACHD
5170 LAKEVIEW BLVD$695,000321771DETACHD
18926 INDIAN SPRINGS RD$849,500532879DETACHD
383 ASH ST$850,00032.11810DETACHD
16942 CANAL CIR$875,000321551DETACHD
4737 LAKEVIEW BLVD$950,00042.12546DETACHD
4913 HASTINGS DR$1,125,00032.12280DETACHD
1080 UPPER DEVON LN$1,150,00032.12335DETACHD
17244 FERNWOOD DR$1,180,00042.12617DETACHD
1921 Indian Trail$1,199,000332882DETACHD
14863 TWIN FIR CT$1,200,000432028DETACHD
1125 C AVE$1,425,000432574DETACHD
4350 LORDS LN$2,175,000544022DETACHD
19331 SW LORNA LN$2,350,00043.15496DETACHD
2240 Summit CT$3,580,00033.15373DETACHD
1007 LAKE FRONT RD$5,500,000444342DETACHD

PENDING May 6-12, 2024

AddressList PriceBedsBathsSFProp TypeDays
350 CERVANTES CIR #1E$250,00021.1912CONDO14
86 KINGSGATE RD, D106$310,00022938CONDO11
16411 SW LAKE FOREST BLVD$400,000321774DETACHD2
16061 WALUGA DR$519,00011676DETACHD2
16841 CORTEZ CT$565,00031988DETACHD9
5749 WINDFIELD LOOP$749,000331873DETACHD30
4610 LAMONT WAY$775,000321770DETACHD14
18225 SW 65TH AVE$870,00052.12210DETACHD32
16942 CANAL CIR$875,000321551DETACHD1
34 DA VINCI ST$950,00042.12875DETACHD10
830 LAKE FOREST DR$950,000422517DETACHD3
62 Touchstone$999,500533972DETACHD45
4913 HASTINGS DR$1,125,00032.12280DETACHD1
12730 ADRIAN CT$1,386,00042.13014DETACHD71
2020 RIDGEWOOD LN$1,495,00032.13082DETACHD24
19158 MEGAN PL$1,549,00043.14910DETACHD12
4050 PFEIFER CT$1,695,00043.14078DETACHD5
1547 GLENMORRIE DR$2,250,00043.14064DETACHD4

SOLD May 6-12, 2024

AddressOpeningClosedBedsBathsSFProp TypeDays
100 KERR PKWY #41$225,000$225,00021.1822CONDO26
334 CERVANTES$235,000$235,00021832CONDO4
45 EAGLE CREST DR #207$250,000$235,10021.11056CONDO
8 DEL PRADO ST$1,125,000$1,040,000533548DETACHD8
818 ASH ST$1,395,000$1,150,000321500DETACHD66
4098 PFEIFER CT$1,299,000$1,350,00053.13260DETACHD3
17257 BRYANT RD$1,880,000$1,680,00053.24789DETACHD239
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 (***We’ve used “Days” in each category for ease of understanding) .

LO Curfew and Other Surprising Benefits

I belong to the Living in Lake Oswego Facebook group and today someone asked the question about moving children to LO. This person was questioning whether uprooting them from their current schools would be worth it. Of course, this lead to a very nice discussion and it made me realize that it’s a conversation worth having here.

I see three primary benefits of relocating children to LO, based upon my own experience.

My children were in the 4th and 7th grades at the time of our move.

The first is the schools. I moved here from Sellwood, a very nice neighborhood in SE Portland. It’s a neighborhood with a reputation for having pretty good schools, but I came to realize that it just wasn’t good enough. What’s different here in LO? So many families move here for the schools that it creates an environment where the children arrive at school ready to learn. Teachers are able to teach and they spend much less time discipling. There really is that big of a difference. I also think it’s a harder and more traditional curriculum. I wanted my kids to read the classics and take courses that really set them up for success.

The second is the safety of the community. My kids world got substantially bigger because I didn’t worry so much about them venturing out. They could ride their bikes in our neighborhood and I felt that they were completely safe.

The third is the curfew. If a person is under the age of 18, they are not allowed on the streets in LO after 11pm unaccompanied by an adult. This means that teenagers don’t loiter at night in LO. It also means, as a parent, that I knew my kids would be home by 11pm. I will confess that each of my kids got picked up and brought home at least once. There is no punishment, no citation, no lecture. They simply ring the bell and leave the child after they made sure that they have gotten safely inside.

Moving to LO was one of the best decisions that I have ever made. SOOOOO glad that we did it.

Dianne

Market Activity April 29-May 5, 2024

Our market remains incredibly balanced between buyers and sellers. Just about as many houses are coming on the market as are selling. It’s a healthy pace and a strong market.

Last week in Lake Oswego 17 properties came onto the market. Of those, 4 sold very fast and appear in this report as pending sales. 18 properties accepted offers and moved to pending status, and 20 properties were sold by experiencing closed transactions.

See below for RMLS data.

New on the Market April 29-May 5, 2024

AddressTypePriceBedroomsBathsSq. Feet
100 Kerr Pkwy #36Condo$219,00011617
16250 Pacific Hwy #71Condo$375,000221305
4401 Thunder VistaCondo$475,00022.52102
16841 Cortez CtDetached$565,00031988
2251 Fernwood CirDetached$750,000632600
17942 Saint Clair DrDetached$925,00042.52533
34 Da VinciDetached$950,00042.52875
314 2nd StAttached$1,074,90033.51814
15213 Candlewood CtDetached$1,079,00042.52757
5501 Rachel LnDetached$1,250,00042.5+.53669
3159 Douglas CirDetached$2,098,00064.54571
1475 Skyland DrDetached$5,875,00066.5+.58251
1415 Skyland DrDetached$8,200,00055.5+.5+.5+.510389

Pending April 29-May 5, 2024

AddressTypePriceBedroomsBathsSq. FeetDOM
16250 Pacific Hwy #43Condo$395,00022130515
15494 Brianne CtAttached$469,00022.5132022
23 Greenridge CtAttached$575,00021.519723
38 Greenridge CtAttached$584,90032.519964
18585 Kristi WayDetached$675,00032133216
13675 Johnson TerDetached$699,00042.5321026
4575 Trillium WoodsAttached$889,00032.519923
4890 Indian Creek CtDetached$925,0003220649
757 4th StDetached$925,0003213323
625 3rd StAttached$1,198,00032.5264563
16056 Reese RdDetached$1,199,5003217368
13660 Shireva DrDetached$1,295,00043269718
14081 Edenberry DrDetached$1,345,00042.5335755
14322 Edenberry DrDetached$1,375,00042.532620
5184 Woodcrest LnDetached$1,400,00052.532596
3801 Carman DrDetached$1,495,00044.53290188
1940 Highlands LoopDetached$2,595,00044.5+.5408047

Sold/Closed April 29-May 5, 2024

AddressTypeList PriceClosed PriceSq FeetCDOM
6882 Montauk CirCondo$284,500$284,5009243
50 Cervantes CirCondo$319,000$319,00013992
238 Ridgeway Rd 16CCondo$350,000$360,00091422
3942 Carman DrCondo$479,900$445,000132648
15486 Brianne CtCondo$459,000$485,00012843
6239 Edgewood StDetached$679,000$695,00014344
5222 Rosewood StDetached$850,000$810,00024145
17558 Bryant RdDetached$845,000$811,450217250
18230 Westminster DrDetached$939,900$905,000328213
2 Da Vinci StDetached$975,000$959,00024223
15550 Quarry DrDetached$1,100,000$1,050,0002714259
5514 Bay Creek DrDetached$1,065,000$1,065,00029181
15449 Partridge DrDetached$1,098,000$1,100,00028853
5290 Childs RdDetached$1,380,000$1,275,0003866149
16368 Lake Forest BlvdDetached$1,399,000$1,345,000275927
365 Kenwood RdDetached$1,650,000$1,650,000275027
2066 Glenmorrie DrDetached$2,345,000$1,950,0004978252
17331 Canyon DrDetached$2,295,900$2,295,00079553
15780 Twin Fir RdDetached$3,298,000$2,248,00042703
16772 Alder CirDetached$4,350,000$3,545,0003282216

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.

Lake Oswego Farmers Market Returns!!

One of the best things about living in Lake Oswego during the summer months is the Farmers Market every Saturday at Millennium Plaza Park which starts this coming Saturday May 11th & repeats until October 5th. Not only are there fabulous foods to peruse as you slowly saunter through the visually splendid arrays, but you’ll find local Artisans offering their handiwork of every kind, and always live music. The market itself opens at 8:30AM and goes until 1:30PM. Live Music starts at 10:30 and runs through 12:30PM. There are other perks too for kids and a SNAP matching program. Here is a link for more information! CLICK HERE

Market Activity ~ April 22-28, 2024

Last week we saw 21 properties enter the market in Lake Oswego, 12 move to Pending status, and 14 that Closed/Sold. Right now there are 172 properties available ranging from $199,900mto $11,500,000.

Here is the breakdown:

NEW April 22-28, 2024

AddressList PriceBedsBathsSFProp Type
350 CERVANTES CIR #1 E$250,00021.1912CONDO
86 KINGSGATE RD, D106$310,00022938CONDO
4608 LOWER DR$325,00021.11260CONDO
3926 CARMAN DR$425,00022.11129CONDO
4438 THUNDER VISTA LN$453,00022.12040CONDO
668 MCVEY AVE #24$515,00011636CONDO
38 GREENRIDGE CT$584,90032.11996ATTACHD
668 MCVEY AVE #83$605,00021.1992CONDO
16309 LAKE FOREST BLVD$617,500321608DETACHD
69 CONDOLEA TER / Main$620,00022.12157CONDO
2924 ORCHARD HILL PL$759,90032.12264DETACHD
4610 LAMONT WAY$775,000321770DETACHD
4890 INDIAN CREEK CT$925,000322064DETACHD
16056 REESE RD$1,199,500321736DETACHD
3037 TOLKIEN LN$1,275,000433159DETACHD
13932 SUNDELEAF DR$1,399,00032.13068DETACHD
5184 WOODCREST LN$1,400,00052.13259DETACHD
19158 MEGAN PL$1,549,00043.14910DETACHD
3730 UPPER DR$2,100,000422752DETACHD
4250 UPPER DR$2,649,00043.14465DETACHD
260 IRON MOUNTAIN BLVD$3,998,00054.26048DETACHD

PENDING April 22-28, 2024

AddressList PriceBedsBathsSFProp TypeDays
16250 PACIFIC HWY #65$295,00011841CONDO8
4204 WOODSIDE CIR$560,000221308ATTACHD11
5077 SW DAWN ST$619,900321572DETACHD6
69 CONDOLEA TER / Main$620,00022.12157CONDO2
15275 BOONES WAY$629,000221320ATTACHD13
2924 ORCHARD HILL PL$759,90032.12264DETACHD1
3311 FIR RIDGE RD$998,00032.12123DETACHD3
1970 GREENTREE RD$1,149,000432428DETACHD7
3037 TOLKIEN LN$1,275,000433159DETACHD2
5511 WESTFIELD CT$1,345,00042.14035DETACHD20
17228 BLUE HERON RD$1,769,00042.24236DETACHD248
310 CHANDLER PL$2,595,00043.13866DETACHD113

SOLD April 22-28, 2024

AddressOpeningClosedBedsBathsSFProp TypeDays
30 WHEATHERSTONE$525,000$525,00032.11692CONDO22
5 PHEASANT$669,000$626,000321420DETACHD163
1386 BOCA RATAN DR$635,000$640,00032.11739ATTACHD42
5097 ROSEWOOD ST$725,000$685,00042.11920DETACHD202
30 MORNINGVIEW CIR$750,000$797,000332276DETACHD0
6236 SW WAYZATA CT$900,000$890,00042.12127DETACHD10
4407 OAKRIDGE RD$939,000$925,00032.12265ATTACHD10
1530 LARCH ST$1,039,000$1,070,000432384DETACHD2
46 DA VINCI ST$1,195,000$1,215,000533378DETACHD4
14143 TAYLORS CREST LN$1,259,000$1,253,000433453DETACHD3
14674 RAINBOW DR$1,295,000$1,300,000433190DETACHD11
2316 OAKHURST LN$1,350,000$1,300,00042.13639DETACHD9
16850 CORTEZ CT$1,950,000$1,880,000543719DETACHD14
2101 WEMBLEY PARK RD$3,100,000$3,100,00054.15016DETACHD28
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 (***We’ve used “Days” in each category for ease of understanding) .

Off-leash Dog Parks

I have big news in my life. I’m bringing home a new puppy on Mother’s Day weekend. Woohoo! I am so excited. In preparation I am re-organizing my house to do the best I can to puppy proof it, and thinking through how to exercise it properly. My saying is “a tired dog is a good dog”. Fortunately, Lake Oswego has 3 off leash dog parks and one of them is close to my house. It’s going to become a big part of my life.

The dog parks are:

Hazalia Dog Park, 17800 Stafford Rd

West Waluga Dog Park, 15775 Waluga Dr

Pilkington Park, 19043 Pilkington.

The dog parks are open year around 6am to 10pm. There are some basic rules. Dogs are only allowed off leash in designated areas. Clean up after your dog. Dogs need to play well with others and not misbehave.

The Hazalia Dog Park actually has two off-leash areas. One is for more timid dogs and one is for more outgoing dogs. That’s a nice option that I took advantage of when I adopted my mom’s elderly dog (a mini dachshund that would have easily been bowled over by more outgoing dogs).

For more information, click here.

And now I want to show you what all of the excitement is about. This is Raven. She’s currently 7 weeks old. A German Shephard, she will be the fifth German Shephard that I have had the honor of owning. I truly am so excited!

Dianne

Market Activity April 15-21, 2024

Last week in Lake Oswego there were 15 new property listings, 10 pending sales, and 15 sold/closed sales. The market continues to be very balanced with equal numbers of properties entering the market as the number of properties that are sold.

See below for RMLS data.

New on the Market April 15-21, 2024

AddressTypePriceBedroomsBathsSq Feet
45 Eagle Crest#309Condo$250,000221071
16250 Pacific Hwy #65Condo$295,00011841
86 Kingsgate Rd G102Condo$330,00022849
16250 Pacific Hwy #43Condo$395,000221305
37 Greenridge CtAttached$495,00021.51176
18585 Kristi WayDetached$675,000321332
13 Morningview CirDetached$899,50032.52519
14190 Amberwood CirDetached$1,100,000433154
1970 Greentree RdDetached$1,149,000432428
1448 Greentree CirDetached$1,150,00042.52654
1706 Meadows DrDetached$1,199,000321818
3320 Southshore BlvdDetached$1,335,00043.52503
3190 Rainbow DrDetached$1,395,00032.52808
19428 35th CtDetached$2,499,000433557
915 Atwater RdDetached$3,795,00044.54102

Pending Sales April 15-21, 2024

AddressTypePriceBedroomsBathsSq FeetDOM
4 Touchstone #106Condo$275,000229844
284 CervantesCondo$314,95022105276
16902 Lower Meadows DrDetached$700,00032.51768189
2703 Orchard Hill PlDetached$745,0004332924
21 Hidalgo StDetached$939,00043339225
5290 Childs RdDetached$1,299,90044.53866149
17257 Bryant RdDetached$1,699,99953.5+.5478973
723 3rd StDetached$1,750,00033274827
4956 Park Bluff PlDetached$1,845,00043.54074106
1836 Highlands LpDetached$2,450,00044.5+.5549495

Sold/Closed April 15-21, 2024

AddressTypeList PriceClosed Price2CDOM
92 Cervantes CirCondo$309,000$255,000912267
45 Eagle Crest #122Condo$315,000$302,00013488
4462 Thunder Vista LnCondo$450,000$433,00018216
5726 Dogwood DrDetached$519,000$519,000266429
456 5th StCondo$650,000$656,50010923
5030 Centerwood StDetached$795,000$800,00023644
47 Tanglewood DrDetached$759,900$810,00029172
1451 Greentree CirDetached$1,249,000$1,175,000232816
13440 Knaus RdDetached$1,450,000$1,200,000381878
4105 Pfeifer CtDetached$1,425,000$1,425,00041760
475 8th StDetached$1,500,000$1,600,00027533
17625 Woodhurst PlDetached$1,648,000$1,643,000451314
455 Haven StDetached$1,999,900$1,899,900321196
13180 Thoma RdDetached$2,250,000$2,200,000552613
3188 Glenmorrie DrDetached$3,350,000$2,990,0005585195

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 March 2024 Stats + LO

Here is your breakdown from the previous month/March 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.

Overview/Fluctuations ~ March 2024 Market Data:

Inventory indicates homeowners are still holding on to their properties, presumably waiting for some more pronounced indications of rates going down for their own purchases. And/but Buyers seem to have recognized that this is a temporary, albeit annoying situation wherein the strong economy is keeping the Fed from easing up just yet. Spring has sprung and we’re seeing most neighborhoods/areas inching up in demand and price…yet another reason Buyers are not waiting.

Rates: “Rates have pushed higher from persistent inflation. They are currently on the low 7% range.”         Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report for the Portland Metro Area March 2024:

  • There were 2,425 New Listings in March which is down 7.5% from 2,623 in March 2023 and up 16.3% from the 2,085 in the previous month/February.
  • At 1,578 March 2024’s Closed Sales (Solds) are down 9.6% from March 2023’s 1,745 and up 22.9% from the previous month’s total of 1,284.
  • At 2,138 March 2024’s Pending Sales (Accepted Offers) are up 2.8% from March 2023’s 2,079, and up 22.7% from the previous month/February’s total of 1,742.
  • The Average Sale Price for March 2024 of, $590,400 is up$5,900. from last year/March 2023’s $584,500, and up $13,500 from the p­­revious month/Feb’s $576,900. 
  • The “Median Sale Price (the price smack dab in the middle of all sales) in March 2024 of $535,000 is up $10,000 from March 2023’s $525,000, & up $5,000 from Feb’s $530,000  

LAKE OSWEGO: (Month of March ’24)

185 Active Listings (Feb 177)
147 New Listings  (Feb 123)
121 Pending Sales (Feb 91)
78 Closed Sales  (Feb 60)
Average Sale Price for March: $1,094,000 (Feb $1,018,400)
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.
85 Days on the Market   (Feb 77)

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