Lake Oswego Real Estate Blog
On this Christmas Day, Dianne and I wish you and your loved ones a holiday filled with all the cozy things you associate with this time of year. In this big world, we are grateful for so many things, and we wish you more of exactly what fills your home with Joy. Happy Holidays and Merry Christmas to you!
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:
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)
Last week Lake Oswego had 3 New Listings, 5 moving to Pending/Accepted Offer status, and 10 that Closed/Sold. We like your info to be accurate and therefore try to remove properties that are not really “new” on the market, but rather “refreshed” and often with no other change than the ML#. It’s interesting to me that while we had 3 truly “New” properties entering the market, there were 5 that fell into the “not truly new on the market” category, and here is the breakdown:
Most of the time people decide to change their representation, there is a dramatic lowering of price accompanying that decision. I will say that, anecdotally, lowering the price is very often something they were advised to do by their original Agent, while of course there can sometimes just be a desire for a change for a variety of reasons. I have no personal knowledge of any of these situations, and am of course not making any assertions here in any way in that regard. I just find this particular array interesting.
In the interest of giving you some data on newly reduced and refreshed listings (changes outlined in the same order above), I’ll make a holiday exception : ) These are the 5:
| Address | List Price | Beds | Baths | SF | Prop Type |
| 4316 BOTTICELLI ST | $485,000 | $2 | 2.1 | 2098 | CONDO |
| 6 THE GROTTO | $550,000 | $3 | 2 | 1381 | DETACHD |
| 5 PHEASANT RUN | $649,000 | $3 | 2 | 1420 | DETACHD |
| 5453 WILLOW CT | $762,000 | $3 | 2.1 | 2446 | ATTACHD |
| 3520 LAKE GROVE AVE | $2,598,000 | $4 | 3.1 | 3624 | DETACHD |
Right now there are 124 properties available in Lake Oswego ranging from $250,000 to $11,500,000. Here is the breakdown according to RMLS:
NEW Dec 4-10, 2023
| Address | List Price | Beds | Baths | SF | Prop Type |
| 16237 LAKE FOREST BLVD | $525,000 | $3 | 1 | 1132 | DETACHD |
| 15 BRITTEN CT | $619,900 | $3 | 2.1 | 1973 | ATTACHD |
| 3857 Carman DR | $1,095,000 | $3 | 2.1 | 2531 | DETACHD |
PENDING Dec 4-10, 2023
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 4 TOUCHSTONE #119 | $318,900 | $3 | 2.1 | 1351 | CONDO | 7 |
| 1724 OAK ST | $870,000 | $3 | 2 | 2689 | DETACHD | 17 |
| 3853 Carman DR | $1,075,000 | $3 | 2.1 | 2531 | DETACHD | 5 |
| 3324 SABINA CT | $1,250,000 | $3 | 2.1 | 2550 | DETACHD | 7 |
| 17312 BERGIS FARM DR | $1,999,000 | $4 | 4.2 | 4804 | DETACHD | 39 |
SOLD Dec 4-10, 2023
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 45 EAGLE CREST DR #506 | $199,900 | $183,550 | $1 | 1 | 600 | CONDO | 44 |
| 45 EAGLE CREST DR #208 | $219,900 | $219,900 | $2 | 2 | 1046 | CONDO | 14 |
| 5053 FOOTHILLS DR, A | $445,000 | $425,000 | $3 | 2 | 1252 | CONDO | 19 |
| 3672 SPRING LN / Upper | $439,900 | $440,000 | $2 | 2 | 1117 | CONDO | 49 |
| 1525 IVY CT | $875,000 | $670,000 | $4 | 2.1 | 2163 | DETACHD | 116 |
| 8 HOTSPUR ST | $865,000 | $779,999 | $3 | 2.1 | 1966 | DETACHD | 54 |
| 16020 KIMBALL ST | $974,500 | $900,000 | $5 | 3.1 | 2426 | DETACHD | 42 |
| 1177 C AVE | $1,100,000 | $950,000 | $3 | 2 | 1957 | DETACHD | 34 |
| 5330 CARMAN GROVE LN | $1,100,000 | $985,000 | $3 | 2.1 | 2493 | DETACHD | 43 |
| 2020 WEMBLEY PARK RD | $1,078,000 | $1,050,000 | $3 | 2 | 1712 | DETACHD | 369 |
Many Realtors plan cruises and vacation trips at this time of year. Very early on in my real estate career, my Principal Broker handed me a tenet …an affirmation of sorts that I adopted as my own long ago when she said ~ “I am always busy in December.” And so it is.
Life goes on and people always have reasons to pursue changing their living environment no matter what time of year it is. You’ll often hear: “Wait till the spring” and the like. That may or may not be good advice when really looking at the individual’s situation and needs. I thought it might be useful to point out a few things about Real Estate at this time of year~
There are so many “extra” distractions right about now… gift-hunting, party-planning, wrapping, festive food-planning & preparation, school break planning for the kids…not to mention that it is often raining and cold and sometimes snowing. People who are looking for a home at this time of year are serious Buyers. So, as a homeowner who has a reason to make a life-change that involves selling your home right about now, the people coming through your home are not “just looking”. It’s a good thing to narrow/concentrate the Buyer-pool this way! Dianne also often points out that selling your property during the holidays allows you to really create those warm notes that often attract Buyers to a “home” rather than just a house~ Lights in the windows, festive decorations inside & out, and maybe even the smell of cookies authentically in the air. And from the other side of the equation~ Buyers, at this time of year may find they encounter Sellers who are more amenable to taking care of necessary safety/functional repair items and the tone is often more friendly with the goal of working toward mutual-benefit surrounding the transaction. ***So, generally, timing is usually some kind of factor for both the Buyer and the Seller right now which tends to create a cooperative mindset.
I thought it might be important for *someone* reading this to take note of these things should you find yourself in the midst of some life change nudging you to take action. As always, Dianne and I are here for you should this ever be the case.
Happy Holidays!
Last week Lake Oswego had 7 properties entering the market, 8 moving to Pending status and 7 that Closed/Sold. Right now there are 120 properties available ranging from $250/,000 to $11,500,000.
Here is the breakdown according to RMLS:
NEW Nov 20-26, 2023
| Address | List Price | Beds | Baths | SF | Prop Type |
| 4 TOUCHSTONE #128 | $250,000 | $3 | 2.1 | 1350 | CONDO |
| 11 OSWEGO #11 | $332,800 | $2 | 2 | 1241 | CONDO |
| 1724 OAK ST | $870,000 | $3 | 2 | 2689 | DETACHD |
| 18521 WAXWING CIR | $1,250,000 | $4 | 2.1 | 2936 | DETACHD |
| 4355 HAVEN ST | $1,999,900 | $4 | 4.1 | 3211 | DETACHD |
| 17132 LOWENBERG TER | $2,100,000 | $4 | 4.2 | 3322 | DETACHD |
| 4745 DOGWOOD DR | AUCTION | $4 | 4 | 3920 | DETACHD |
PENDING Nov 20-26, 2023
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 45 EAGLE CREST DR #402 | $219,900 | $1 | 1 | 768 | CONDO | 71 |
| 86 KINGSGATE RD / Upper | $298,000 | $2 | 2 | 849 | CONDO | 100 |
| 141 TOUCHSTONE CT | $589,000 | $3 | 2.1 | 2066 | ATTACHD | 90 |
| 16240 PARKER RD | $679,000 | $3 | 2 | 1454 | DETACHD | 269 |
| 13990 SHIREVA CT | $789,000 | $3 | 2 | 1702 | DETACHD | 19 |
| 369 5TH ST | $825,000 | $2 | 1 | 1552 | DETACHD | 4 |
| 6050 CHILDS RD | $900,000 | $3 | 1.1 | 2129 | DETACHD | 17 |
| 18368 TAMAWAY DR | $1,150,000 | $4 | 3 | 3741 | DETACHD | 40 |
SOLD Nov 20-26, 2023
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 51 GREENRIDGE CT | $475,000 | $453,457 | $2 | 2 | 1348 | ATTACHD | 30 |
| 12884 BOONES FERRY RD | $475,000 | $472,500 | $2 | 2.1 | 1210 | CONDO | 3 |
| 12802 BOONES FERRY RD | $479,900 | $479,900 | $3 | 2.1 | 1182 | CONDO | 87 |
| 1228 CEDAR ST | $625,000 | $610,000 | $3 | 2 | 1302 | DETACHD | 95 |
| 34 CHURCHILL DOWNS | $824,000 | $725,000 | $4 | 3 | 2080 | DETACHD | 56 |
| 3460 LAKE GROVE AVE | $1,498,000 | $1,450,000 | $3 | 2 | 1673 | DETACHD | 49 |
| 2275 GLEN HAVEN RD | $2,349,900 | $2,234,900 | $4 | 4 | 4109 | DETACHD | 2 |
Overview/Fluctuations ~ October 2023 Market Data:
Here is your monthly look at what’s happening in Portland metro and how it relates to Lake Oswego (broken out at the bottom)
As we gear up for the holidays, activity is seasonally lower. But the most interesting thing for me to note is that the market seems to be stabilizing. I looked at last year’s October report, and prices were *much* more volatile at that time. Right now there is not so much fluctuation in price, and Inventory is continuing to rest at around 3 month’s worth. Overall activity is down a bit from last year in October.
Rates: “Great news this week showing inflation is continuing to slow. The Fed should be done raising rates! Look for more good news ahead.” Gary Boyer, Regional VP, Directors Mortgage
According to the RMLS Market Action Report for the Portland Metro Area-October 2023:
LAKE OSWEGO: (Oct ’23)
248 Active Listings (Sep 279)
98 New Listings (Sep 137)
85 Pending Sales (Sep 98)
85 Closed Sales (Sep 75)
Average Sale Price for Sept: $954,500 (Sep $1,076,000)
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.
47 Days on the Market (Sep 51)
The data listed above is as reported by the Regional Multiple Listing Service (RMLS)
Last week there were 6 properties entering the market, 12 with accepted Offers moving to Pending status and 11 Sold/Closed. Right now there are 141 properties available in Lake Oswego ranging from $219,900 to $11,500,000.
Here is the breakdown according to RMLS:
NEW Nov 6-12, 2023
| Address | List Price | Beds | Baths | SF | Prop Type |
| 4690 AUBURN LN | $900,000 | $3 | 3.1 | 2750 | ATTACHD |
| 6050 CHILDS RD | $900,000 | $3 | 1.1 | 2129 | DETACHD |
| 4904 PARKHILL ST | $1,195,000 | $4 | 2.1 | 3433 | DETACHD |
| 17393 GRANDVIEW CT | $1,275,000 | $4 | 3.1 | 3772 | DETACHD |
| 1885 CREST DR | $1,429,900 | $3 | 3 | 2391 | DETACHD |
| 2800 WEMBLEY PARK RD | $2,600,000 | $4 | 4.1 | 4538 | DETACHD |
PENDING Nov 6-12, 2023
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 45 EAGLE CREST DR #506 | $189,900 | $1 | 1 | 600 | CONDO | 44 |
| 96 OSWEGO SUMMIT /Lower | $219,900 | $1 | 1 | 964 | CONDO | 6 |
| 12884 BOONES FERRY RD | $475,000 | $2 | 2.1 | 1210 | CONDO | 3 |
| 4510 LOWER DR B1 | $545,000 | $3 | 2.1 | 1729 | CONDO | 42 |
| 6 THE GROTTO | $560,000 | $3 | 2 | 1381 | DETACHD | 197 |
| 5330 CARMAN GROVE LN | $995,000 | $3 | 2.1 | 2493 | DETACHD | 43 |
| 1177 C AVE | $999,000 | $3 | 2 | 1957 | DETACHD | 34 |
| 2020 WEMBLEY PARK RD | $1,078,000 | $3 | 2 | 1712 | DETACHD | 369 |
| 14584 PFEIFER WAY | $1,250,000 | $4 | 2 | 2647 | DETACHD | 14 |
| 17312 BERGIS FARM DR | $1,999,000 | $4 | 4.2 | 4804 | DETACHD | 16 |
| 2248 SUMMIT CT | $2,450,000 | $4 | 2 | 3024 | DETACHD | 10 |
| 2800 WEMBLEY PARK RD | $2,600,000 | 4 | 4.1 | 4538 | DETACHD | 0 |
SOLD Nov 6-12, 2023
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 100 KERR PKWY #42 | $237,500 | $216,000 | $2 | 1.1 | 822 | CONDO | 59 |
| 248 RIDGEWAY RD /Upper | $395,000 | $315,000 | $1 | 1 | 753 | CONDO | 155 |
| 5737 WASHINGTON CT | $669,000 | $664,000 | $3 | 1.1 | 1521 | DETACHD | 5 |
| 3620 WREN ST | $1,189,000 | $900,000 | $4 | 3.1 | 3056 | DETACHD | 75 |
| 807 HOODVIEW LN | $1,200,000 | $1,315,000 | $4 | 3 | 3931 | DETACHD | 5 |
| 18653 PILKINGTON RD | $1,525,000 | $1,410,000 | $4 | 3.1 | 3196 | DETACHD | 64 |
| 1885 CREST DR | $1,429,900 | $1,429,900 | $3 | 3 | 2391 | DETACHD | 0 |
| 13052 KNAUS RD | $1,690,000 | $1,500,000 | $4 | 3 | 3026 | DETACHD | 8 |
| 915 CEDAR ST | $1,695,000 | $1,630,000 | $4 | 3.1 | 3219 | DETACHD | 26 |
| 4247 LORDS LN | $2,680,000 | $2,200,000 | $4 | 3.1 | 3840 | DETACHD | 102 |
| 1860 EGAN WAY | $2,250,000 | $2,300,000 | $4 | 3 | 3687 | DETACHD | 5 |
Here are my picks for what to do in Lake Oswego this week!
Mon, Nov 6 , 2023 – Storyline Recording- Listen to short stories, book excerpts and poetry on demand, – INFO: CLICK HERE
Tues, Nov 7, 2023 – 2:30-4:30 PM – Slow Jam ~ 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, Nov 8, 2023 – 6:00 PM – Historic Resources Advisory Board ~ Review the Historic Preservation Grant from Lakewood Neighborhood, Revisions to the Historic Preservation Code, Parks Plan & More ~ Lake Oswego City Hall, 380 A Avenue ~ More Info : CLICK HERE
Thurs, Nov 9, 2023 – 6:00 PM – Teen Advisory Board! ~Be a part of planning programs including book groups, movie nights and more! ~ Lake Oswego Library, Lower Level, 706 Fourth St. – More Info: CLICK HERE
Fri, Nov 10, 2023 – 2:00-4:00 PM –Family Movie Matinee~ Start your long weekend with a movie on a rainy day at cozy Children’s Library. Featuring “Super”. ~ Lake Oswego Public Library, 706 Fourth St ~ More Info: CLICK HERE
Last week in Lake Oswego there were 16 properties entering the market, 9 moving to Pending status and 11 Closed/Sold.
Here is the breakdown according to RMLS:
NEW Oct 23-29, 2023
| Address | List Price | Beds | Baths | SF | Prop Type |
| 40 CRESTFIELD CT / Upper | $239,000 | $1 | 1 | 690 | CONDO |
| 2019 BONNIEBRAE DR | $525,000 | $3 | 2 | 1539 | ATTACHD |
| 4510 LOWER DR, B1 | $545,000 | $3 | 2.1 | 1729 | CONDO |
| 1228 CEDAR ST | $625,000 | $3 | 2 | 1302 | DETACHD |
| 18211 INDIAN CREEK DR | $850,000 | $3 | 1 | 2204 | ATTACHD |
| 7 GROUSE TER | $935,000 | $3 | 2.1 | 2516 | DETACHD |
| 17942 SAINT CLAIR DR | $969,000 | $4 | 2.1 | 2533 | DETACHD |
| 21 HIDALGO ST | $1,000,000 | $4 | 3 | 3392 | DETACHD |
| 807 HOODVIEW LN | $1,200,000 | $4 | 3 | 3931 | DETACHD |
| 14584 PFEIFER WAY | $1,250,000 | $4 | 2 | 2647 | DETACHD |
| 4360 WESTBAY RD | $1,329,000 | $4 | 3 | 2636 | DETACHD |
| 17312 BERGIS FARM DR | $1,999,000 | 4 | 4.2 | 4804 | DETACHD |
| 541 8th ST | $2,400,000 | 4 | 3.1 | 3559 | DETACHD |
| 2248 SUMMIT CT | $2,450,000 | 4 | 2 | 3024 | DETACHD |
| 2430 SUMMIT CT | $4,500,000 | 3 | 3 | 3074 | DETACHD |
| 17950 KELOK RD | 365. – 389,99. | 4 | 4.1 | 3600 | DETACHD |
PENDING Oct 23-29, 2023
| Address | List Price | Beds | Baths | SF | Prop Type | Days |
| 1228 CEDAR ST | $625,000 | $3 | 2 | 1302 | DETACHD | 2 |
| 16266 PARKER RD | $735,000 | $4 | 2 | 2014 | DETACHD | 94 |
| 1525 IVY CT | $739,000 | $4 | 2.1 | 2163 | DETACHD | 93 |
| 34 CHURCHILL DOWNS | $774,900 | $4 | 3 | 2080 | DETACHD | 95 |
| 12 MORNINGVIEW LN | $799,000 | $3 | 2.1 | 2730 | ATTACHD | 51 |
| 12123 ORCHARD HILL WAY | $874,900 | $4 | 2.1 | 2841 | DETACHD | 107 |
| 18499 OLD RIVER DR | $1,599,000 | $4 | 3.1 | 4217 | DETACHD | 130 |
| 3600 UPPER DR | $1,849,000 | $5 | 3 | 3771 | DETACHD | 195 |
| 541 8th ST | $2,400,000 | $4 | 3.1 | 3559 | DETACHD |
SOLD Oct 23-29, 2023
| Address | Opening | Closed | Beds | Baths | SF | Prop Type | Days |
| 5650 LAKEVIEW BLVD | $515,000 | $449,900 | $3 | 1 | 990 | DETACHD | 94 |
| 4980 SUNTREE LN | $549,000 | $450,000 | $3 | 2 | 2715 | DETACHD | 45 |
| 5955 CLAIRMONT CT | $579,800 | $505,000 | $3 | 2 | 1824 | ATTACHD | 162 |
| 114 GREENRIDGE CT | $599,000 | $550,000 | $2 | 1.1 | 1112 | DETACHD | 10 |
| 378 9TH ST | $749,000 | $760,000 | $3 | 2.1 | 2135 | DETACHD | 67 |
| 956 WESTPOINT RD | $1,195,000 | $1,150,000 | $4 | 3.1 | 4192 | DETACHD | 70 |
| 4688 UPPER DR | $1,350,000 | $1,200,000 | $3 | 2.1 | 2019 | DETACHD | 61 |
| 16394 LAKE FOREST BLVD | $1,250,000 | $1,375,000 | $5 | 3 | 3292 | DETACHD | 1 |
| 15290 QUARRY RD | $1,999,000 | $1,971,000 | $3 | 2.1 | 2404 | DETACHD | 5 |
| 10 INDEPENDENCE AVE | $2,198,000 | $2,000,000 | $4 | 3.1 | 3962 | DETACHD | 14 |
| 5220 FIRWOOD RD | $8,950,000 | $7,000,000 | $4 | 4.3 | 5235 | DETACHD | 111 |
Here is your monthly look at what’s happening in Portland metro and how it relates to Lake Oswego (broken out at the bottom)
Overview/Fluctuations ~ Sept 2023 Market Data:
Activity is down as you’d expect in Fall (New, Pending & Closed categories dropped), Inventory is up & prices are down. If you’re a Buyer this is your season! If you’re a Seller, pricing right will draw out the activity & potential multiple Offers putting you in a good position. The bulk of overall sales are narrowed between the $400,000 – $700,000 price range.
Rates: “Geopolitical events are tempering the pressure on rates. Currently rates are in your mid 7% range.” Gary Boyer, Regional VP, Directors Mortgage
According to the RMLS Market Action Report for the Portland Metro Area-September 2023:
LAKE OSWEGO: (Sept ’23)
279 Active Listings (Aug 290)
137 New Listings (Aug 151)
98 Pending Sales (Aug 93)
75 Closed Sales (Aug 111)
Average Sale Price for Sept: $1,076,600 (Aug $1,184,900)
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.
51 Days on the Market (Aug 44)
The data listed above is as reported by the Regional Multiple Listing Service (RMLS