Linda Rossi, Author at Property Blotter

December 11, 2022December 12, 2022

November Numbers- Portland Real Estate Stats + LO

This is our monthly look at the overall Portland area and neighborhoods including Lake Oswego broken out below:

Overview/Fluctuations ~ November Market Data:

Inventory continues to increase and prices remain somewhat stable with many areas/neighborhoods of Portland rising from the previous month & some lowering a bit. Actual activity dropping in New Listings, Accepted Offers (Pendings) & Closed Sales from both the previous month (seasonal) & last year (likely adjusting for interest rate fluctuations).

“Real Estate remains the #1 asset class as a protection against inflation.” Brian Buffini

Rates: “Rates have been improving with inflation pressures easing. Right now 30-year fixed rates are in the low 6% range.” Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report for the Portland Metro Area-Nov 2022:

There were 1,666 New Listings in Nov 2022 – down 25.3% from 2,229 in Nov 2021 and down 33.7% from the previous month/Oct’s 2,513.
At 1,621 Nov 2022’s Closed Sales (Solds) are down 42.8% from Nov 2021’s 2,832, and down 17.1% from the previous month/Oct 2022’s total of 1,955.
At 1,498 Nov 2022’s Pending Sales (accepted Offers) are down 43.7% from Nov 2021’s 2,660, and also down 18.4% from the previous month/Oct’s total of 1,835.
The Average Sale Price in November 2022 of, $584,600 is up $9,000 from last year/Nov 2021’s $575,600, and down $7,400 from the previous month/Oct’s $592,000.
The “Median” Sale Price (the price smack dab in the middle of all sales) in November 2022 of $525,900 is up $8,100 over last year/Nov 2021’s $517,800, and down $11,100 from the previous month’s $537,000.

LAKE OSWEGO (November 2022):

173 Active Listings (Oct 177)
73 New Listings (Oct 101)
48 Pending Sales (Oct 93)
69 Closed Sales (Oct 96)
Average Sale Price for Nov: $1,003,400 (Oct $933,800)
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.
42 Days on the Market (Oct 38)

December 10, 2022December 10, 2022

Market Activity ~ Nov 28-Dec 4, 2022

Last week lake Oswego had 2 properties enter the market, 1 move to Pending status and 12 Sold/Closed. Right now there are 103 properties available ranging in price from $260,000 to $7,650,000.

Here is the breakdown according to RMLS:

NEW Nov 28-Dec 4, 2022

Address	List Price	Beds	Baths	SF	Prop Type
757 C AVE	$1,499,900	4	3	2948	DETACHD
548 4TH ST	$1,535,000	3	4.1	3186	ATTACHD

PENDING Nov 28-Dec 4, 2022

Address	List Price	Prop Type	SF	Beds	Baths	Days
7200 CHILDS RD	$975,000	DETACHD	2988	4	4	15

SOLD Nov 28-Dec 4, 2022

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
4 TOUCHSTONE #147	$200,000	$150,000	3	2.1	1351	CONDO	0
4 TOUCHSTONEn #105	$210,000	$210,000	2	2	984	CONDO	3
112 OSWEGO SMT /Upper	$325,000	$315,000	2	2	1212	CONDO	13
4 SUMMIT RIDGE CT	$499,900	$440,000	2	2.1	1576	ATTACHD	93
6426 FROST ST	$699,900	$675,000	4	3	2276	DETACHD	17
6136 FERNBROOK CIR	$759,000	$759,000	3	2	1448	DETACHD	5
17608 SYDNI CT	$799,900	$775,000	4	2.1	2466	ATTACHD	126
18706 BRYANT RD	$789,900	$780,000	3	2.1	2489	DETACHD	6
314 2ND ST	$850,000	$890,000	3	3.1	1814	CONDO	9
5550 JEAN RD	$1,790,000	$1,450,000	4	4.1	3001	DETACHD	107
548 4TH ST	$1,535,000	$1,535,000	3	4.1	3186	ATTACHD	0
17312 BERGIS FARM DR	$1,920,000	$1,827,500	4	4.2	4804	DETACHD	0

November 27, 2022

October Numbers- Portland Real Estate Stats + LO

This is our monthly look at the overall Portland area and neighborhoods including Lake Oswego broken out below:

Overview/Fluctuations ~ October Market Data: It’s fascinating to me as I take a look at this enigmatic market. Assessing neighborhoods (or areas of Portland) is of more interest to me than “overall” numbers as I can see closer to the ground that way. I added a couple columns so that we can look at the previous month/September vs October as that is where we can truly gauge the ultra-current local shifts. As much as I hear speculations about Buyer abstinence & power shifts in the market, I see that Inventory is up, and prices are not really doing anything dramatic. Some neighborhoods actually saw price increases in October over September, and the Median prices holding show that when push comes to shove, the price ranges people had in mind in Sept held firm in October. This surprises me a little, and/but is heartening in the sense that it may indicate: folks are moving ahead w/life plans regardless, prices have stabilized, and perhaps an & an understanding that rates are temporary/there are options to change them down the road a bit.

Rates: “Inflation is showing signs of peaking which is good news for mortgage rates. 30-year fixed rates are in the mid 6’s right now.” Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report for the Portland Metro Area-Oct 2022:

There were 2,513 New Listings in Oct 2022 – down 22.2% from 3,232 in Oct 2021 and down 20.2% from the previous month/Sept’s 3,151.
At 1,955 Oct 2022’s Closed Sales (Solds) are down 37.5% from Oct 2021’s 3,129, and down 12.6% from the previous month/Sept 2022’s total of 2,237.
At 1,835 Oct 2022’s Pending Sales (accepted Offers) are down 42.4% from Oct 2021’s 3,187, and also down 8.4% from the previous month/Sept’s total of 2,003.
The Average Sale Price in October 2022 of, $592,000 is up $16,800 from last year/Oct 2021’s $575,200, and down $6,700 from the previous month/Sept’s $598,700.
The “Median” Sale Price (the price smack dab in the middle of all sales) in October 2022 of $537,000 is up $21,000 over last year/Oct 2021’s $516,000, and down $11,000 from the previous month’s $548,000.

LAKE OSWEGO (October 2022):

177 Active Listings (Sep 208)
101 New Listings (Sep 143)
93 Pending Sales (Sep 102)
96 Closed Sales (Sep 104)
Average Sale Price for Aug: $933,800 (Sep $959,100)
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.
38 Days on the Market (Sep 37)

November 24, 2022November 25, 2022

Happy Thanksgiving

Dianne and I wish you and yours a holiday filled with those you love and all that makes you feel warmth and appreciation. We are so grateful to have you, this community and each other this holiday season and always.

November 22, 2022November 22, 2022

Market Activity ~ Nov 14-20, 2022

Last week in Lake Oswego 11 properties entered the market, 10 move to Pending status, and 11 Closed/Sold. Right now there are 120 properties available ranging from $220,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Nov 14-20, 2022

Address	List Price	# Beds	# Baths	SF	Prop Type
4 TOUCHSTONE #147	$200,000	3	2.1	1351	CONDO
86 KINGSGATE RD, G102	$295,000	2	2	849	CONDO
1273 BOCA RATAN DR	$450,000	3	2	1398	ATTACHD
15960 SW LAKE FOREST BLVD	$624,900	3	1	1080	DETACHD
3 PERICLES	$725,000	4	2.1	2617	DETACHD
6450 FROST ST	$775,000	4	2.1	2216	DETACHD
17850 PILKINGTON RD	$875,000	3	2.1	3084	DETACHD
1451 GREENTREE CIR	$950,000	4	3.1	2328	DETACHD
4050 VIRGINIA WAY	$999,000	3	2	1344	DETACHD
765 10TH ST	$1,225,000	3	3	2526	DETACHD
19494 Lorna LN	$4,189,000	4	4.2	4806	DETACHD

PENDING Nov 14-20, 2022

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
4 TOUCHSTONE #147	$200,000	3	2.1	1351	CONDO	0
86 CERVANTES CIR #10-B	$230,000	2	1.2	912	CONDO	48
112 OSWEGO SMT/Upper	$325,000	2	2	1212	CONDO	13
1273 BOCA RATAN DR	$450,000	3	2	1398	ATTACHD	3
4226 WOODSIDE CIR	$535,000	3	2	1578	ATTACHD	45
3 PERICLES	$725,000	4	2.1	2617	DETACHD	2
6450 FROST ST	$775,000	4	2.1	2216	DETACHD	3
5677 CHARLES CIR	$1,225,000	4	2.1	2962	DETACHD	97
13371 ATWATER LN	$1,899,000	4	3	4795	DETACHD	27
16885 FERNWOOD DR	$2,149,000	4	3.1	3753	DETACHD	43

SOLD Nov 14-20, 2022

Address	Opening	Closed	# Beds	# Baths	Total SF	Prop Type	CDOM
17552 DEEMAR WAY	$475,000	$535,000	3	1.1	1050	DETACHD	4
15235 BOONES WAY	$624,900	$625,000	3	2	1686	ATTACHD	5
1105 HALLINAN CIR	$724,900	$699,000	3	2	1612	DETACHD	16
2 CREEKSIDE TER	$849,900	$849,900	4	2.1	2906	DETACHD	7
12 WALKING WOODS DR	$749,950	$850,000	3	3	2224	DETACHD	2
860 LAKE FOREST DR	$998,000	$864,000	5	2.1	2025	DETACHD	78
14400 TRILLIUM CT	$839,000	$900,000	4	2.1	3193	DETACHD	4
625 3RD ST	$1,050,000	$1,090,000	3	2.1	2645	ATTACHD	4
13218 DEERFIELD CT	$1,100,000	$1,160,000	4	2.1	2860	DETACHD	5
13504 STREAMSIDE DR	$1,279,000	$1,265,000	4	2.1	3486	DETACHD	94
3940 CANAL RD	$1,500,000	$1,500,000	4	3.1	3983	DETACHD	2

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) .

November 11, 2022

We Salute You on Veterans Day

Thank you. To all those who have served to protect our precious Freedoms.

November 10, 2022November 11, 2022

Market Activity ~ Oct 31- Nov 6, 2022

Last week Lake Oswego saw 11 properties enter the market, 28 move to Pending status, and 8 Sold/Closed. Right now there are 119 homes available in Lake Oswego ranging from $235,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Oct 31-Nov 6, 2022

Address	List Price	Beds	Baths	SF	Prop Type
4 TOUCHSTONE #105	$210,000	2	2	984	CONDO
38 CERVANTES CIR	$249,500	2	1.1	912	CONDO
3433 MCNARY PKWY #806	$305,000	2	2.1	1136	CONDO
112 OSWEGO SMT	$325,000	2	2	1212	CONDO
210 S STATE ST #5	$365,000	2	1	1339	CONDO
16200 PACIFIC HWY #5	$530,000	2	2	1207	CONDO
5 GOYA ST	$680,000	4	2.1	2586	DETACHD
643 4TH ST	$925,000	2	2	1453	DETACHD
2020 WEMBLEY PARK RD	$949,000	3	2	1712	DETACHD
3056 WEMBLEY PARK RD	$1,350,000	4	2.1	2611	DETACHD
17327 WESTVIEW DR	$2,495,000	4	4	4008	DETACHD

PENDING Oct 31-Nov 6, 2022

Address	List Price	Beds	Baths	SF	Prop Type	Days
17552 DEEMAR WAY	$475,000	3	1.1	1050	DETACHD	4
1728 BOCA RATAN DR	$509,000	3	2	1485	ATTACHD	2
15235 BOONES WAY	$624,900	3	2	1686	ATTACHD	5
1105 HALLINAN CIR	$699,000	3	2	1612	DETACHD	16
12 WALKING WOODS DR	$749,950	3	3	2224	DETACHD	2
17608 SYDNI CT	$775,000	4	2.1	2466	ATTACHD	126
18706 BRYANT RD	$789,900	3	2.1	2489	DETACHD	6
14400 TRILLIUM CT	$839,000	4	2.1	3193	DETACHD	4
17810 KELOK RD	$845,000	3	2	1557	DETACHD	9
314 2ND ST	$850,000	3	3.1	1814	CONDO	9
860 LAKE FOREST DR	$889,000	5	2.1	2025	DETACHD	78
72 TOUCHSTONE	$899,900	4	3	3908	DETACHD	28
4051 VIRGINIA WAY	$999,000	4	2	1903	DETACHD	49
625 3RD ST	$1,050,000	3	2.1	2645	ATTACHD	4
13218 DEERFIELD CT	$1,100,000	4	2.1	2860	DETACHD	5
5524 KODERRA AVE	$1,100,000	3	2.1	2957	DETACHD	113
5677 CHARLES CIR	$1,225,000	4	2.1	2962	DETACHD	69
1454 GLENMORRIE DR	$1,350,000	3	2.1	3345	DETACHD	7
5550 JEAN RD	$1,499,000	4	4.1	3001	DETACHD	107
3940 CANAL RD	$1,500,000	4	3.1	3983	DETACHD	2
853 E AVE	$1,850,000	3	3.1	2839	DETACHD	22
17312 BERGIS FARM DR	$1,920,000	4	4.2	4804	DETACHD	0
285 BERWICK RD	$1,950,000	3	3.1	2560	DETACHD	3
16873 CANYON DR	$1,980,000	4	4	3632	DETACHD	48
4241 COBB WAY	$1,999,000	4	3.1	3292	DETACHD	26
21 D #4	$2,067,000	2	2.1	2431	CONDO	333
1625 CLOVERLEAF RD	$2,199,000	4	4	3853	DETACHD	67
707 LAKE SHORE RD	$2,795,000	3	3.1	2992	DETACHD	112

SOLD Oct 31-Nov 6, 2022

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
1172 BOCA RATAN DR	$580,000	$580,000	3	2	1611	ATTACHD	20
131 DEL PRADO ST	$665,000	$715,000	3	3	2145	DETACHD	3
490 BOCA RATAN DR	$849,000	$770,000	3	2	2108	DETACHD	95
19125 OLSON AVE	$1,125,000	$1,125,000	4	2.1	3828	DETACHD	3
1 JUAREZ ST	$1,245,000	$1,130,000	3	2.1	3388	DETACHD	23
17637 WOODHURST PL	$1,299,000	$1,267,000	5	4.1	4833	DETACHD	106
732 LAKE FOREST DR	$1,500,000	$1,600,000	3	2	2865	DETACHD	3
842 6TH ST	$1,850,000	$1,875,000	4	3.1	3840	DETACHD	5

October 30, 2022October 30, 2022

Vote in Lake Oswego!

Well, it’s that time again! In Oregon we enjoy a time-tested voting system including mailed ballots, email notifications/tracking and convenient dropboxes located in most neighborhoods. Lake Oswego’s Drop Box locations are:

– City Hall, 380 A Avenue – located on the upper parking lot near the main (A Avenue) entrance.

– Westlake Park, 14165 Bunick Drive – located south of the covered park area on the lane that connects to Melrose Street. These boxes are secure, available 24/7 & will remain open till 8PM on Election Day, Tues Nov 8th.

Happy voting everyone!

October 28, 2022October 28, 2022

Market Activity ~ Oct 17-23, 2022

Last week 13 properties entered the market, 7 moved to Pending status, and 16 Sold/Closed. Right now there are 120 properties ranging from $225,000 to $11.5 mil available in lake Oswego.

Here is the breakdown according to RMLS:

NEW Oct 17-23, 2022

Address	List Price	Beds	Baths	SF	Prop Type
16250 PACIFIC HWY, #81	$338,000	1	1	841	CONDO
15235 BOONES WAY	$624,900	3	2	1686	ATTACHD
6426 FROST ST	$699,900	4	3	2276	DETACHD
18706 BRYANT RD	$789,900	3	2.1	2489	DETACHD
14400 TRILLIUM CT	$839,000	4	2.1	3193	DETACHD
17810 KELOK RD	$845,000	3	2	1557	DETACHD
314 2ND ST	$850,000	3	3.1	1814	CONDO
15684 BOONES WAY	$850,000	3	2.1	2425	DETACHD
17920 MEADOWLARK LN	$1,295,000	4	2.1	2758	DETACHD
4039 CANAL WOODS CT	$1,495,000	4	3.1	4178	DETACHD
523 LAUREL ST, Lot 3	$1,500,000	4	3	2620	DETACHD
13371 ATWATER LN	$1,899,000	4	3	4795	DETACHD
285 BERWICK RD	$1,950,000	3	3.1	2560	DETACHD

PENDING Oct 17-23. 2022

Address	List Price	Beds	Baths	Total SF	Prop Type	Days
131 DEL PRADO ST	$665,000	3	3	2145	DETACHD	3
72 TOUCHSTONE	$899,900	4	3	3908	DETACHD	28
13218 DEERFIELD CT	$1,100,000	4	2.1	2860	DETACHD	5
5677 CHARLES CIR	$1,225,000	4	2.1	2962	DETACHD	69
1454 GLENMORRIE DR	$1,350,000	3	2.1	3345	DETACHD	7
285 BERWICK RD	$1,950,000	3	3.1	2560	DETACHD	3
16873 CANYON DR	$1,980,000	4	4	3632	DETACHD	48

SOLD Oct 17-23, 2022

Address	Opening	Closed	Beds	Baths	Total SF	Prop Type	Days
4463 THUNDER VISTA LN	$438,000	$438,000	2	2.1	1741	CONDO	2
30 GREENRIDGE CT	$550,000	$474,045	3	1.1	1946	ATTACHD	4
1988 BONNIEBRAE DR	$469,000	$500,000	3	2	1499	ATTACHD	10
113 TOUCHSTONE TER	$510,000	$505,000	3	2.1	2104	ATTACHD	5
5270 CHINOOK CT	$495,000	$525,000	3	2	1391	DETACHD	5
15450 STEPHANIE CT	$580,000	$550,000	3	2.1	1662	ATTACHD	59
16074 LAKE FOREST BLVD	$599,950	$557,400	3	2	1354	DETACHD	130
66 WHEATHERSTONE, #35	$599,900	$600,000	4	3.1	2465	CONDO	2
8 MOUNTAIN CIR	$629,000	$629,000	3	2	1316	ATTACHD	27
2050 SOUTHSHORE BLVD	$780,000	$795,000	3	2.1	1629	DETACHD	5
38 MORNINGVIEW CIR	$825,000	$808,000	4	3	2408	DETACHD	9
2711 Greentree RD	$969,900	$855,000	4	3	3241	DETACHD	154
17423 SCHALIT WAY	$998,900	$1,060,000	4	2.1	2442	DETACHD	85
4744 CAMBRIDGE CT	$985,000	$1,105,000	3	2.1	2856	ATTACHD	66
2420 PALISADES CREST DR	$1,599,900	$1,450,000	4	2.1	3583	DETACHD	3
13615 WESTLAKE DR	$1,790,000	$1,500,000	4	4.1	4396	DETACHD	34

October 15, 2022October 16, 2022

Sept Numbers- Portland Real Estate Stats + LO

Here is your snapshot of Real Estate Activity in the Portland Metro Area-Sept 2022: (LO broken out below)

Comparing the first nine months of 2022 to the same period in 2021, the Average Sale price has increased 8.6% overall and Median Sale price increased 8.9%. Sept volume in all categories (New, Pending & Sold) decreased from last year and the previous month, whereas in Sept of last year New Listings and Pending Sales actually increased. That said, this is now officially “Fall” and slowing down is normal. Inventory is up. Every year I especially tell Buyers that this is the absolute best time of year to buy in Portland, as Sellers tend to be more amenable to “discussions”, and this year it’s particularly pertinent. I’m also advising my New Listing clients to get their properties on the market now in order to get them Sold prior to the holidays setting in. In all cases, we know what is happening in the market right now and can plan around that, whereas we don’t know what will be happening in the Spring, for instance. Rates: “Currently 30-year fixed rates are in the mid 6% range. Inflation pressures are persisting, however we have finally seen some leveling off on that front.” Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report for the Portland Metro Area-Sep 2022:

There were 3,151 New Listings in Sept 2022 – down 16.2% from 3,760 in Sept 2021 and down 1.7% from the previous month/August’s 3,209.
At 2,237 Sept 2022’s Closed Sales (Solds) are down 29.4% from Sept 2021’s 3,167, and down 13.3% from the previous month/August 2022’s total of 2,581.
At 2,003 Sept 2022’s Pending Sales (accepted Offers) are down 36.8% from Sept 2021’s 3,170, and also down 20.8% from the previous month/August’s total of 2,530.
The Average Sale Price in September 2022 of, $598,700 is up $27,200 from last year/Sept 2021’s $571,500, and down $9,000 from the previous month/August’s $607,700.
The “Median” Sale Price (the price smack dab in the middle of all sales) in September 2022 of $548,00 is up $38,000 over last year/Sept 2021’s $510,000, and is nearly the same as the previous month’s $548,400.

LAKE OSWEGO (September 2022):

208 Active Listings (Aug 205)
143 New Listings (Aug 151)
102 Pending Sales (Aug 117)
104 Closed Sales (Aug 120)
Average Sale Price for Aug: $959,100 (Aug $950,000)
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.
37 Days on the Market (Aug 25)