Market Activity ~ May 1-7, 2023

Last week Lake Oswego logged 28 properties entering the market (New), 23 moving to Pending status, and 17 that Sold/Closed. There are currently 143 properties available ranging from $154,900 to $9,900,000.

Here is the breakdown:

NEW May 1-7, 2023

AddressList PriceBedsBathsSFProp Type
100 KERR PKWY #48$229,00011617CONDO
45 EAGLE CREST DR #400$289,950321348CONDO
86 KINGSGATE RD, B104$299,90022938CONDO
16309 LAKE FOREST BLVD$599,900321583DETACHD
103 KINGSGATE RD$600,00032.11352DETACHD
1221 BOCA RATAN DR$600,00032.11739ATTACHD
5785 KIMBALL CT$679,000421346DETACHD
14345 HOLLY SPRINGS RD$685,00042.11940CONDO
260 CERVANTES$690,00032.12551ATTACHD
4959 DOGWOOD DR$749,900322120DETACHD
5364 ROSEWOOD ST$790,00042.11980DETACHD
1421 CHERRY CREST DR$925,000432785DETACHD
14318 CAMDEN LN$945,00042.12980DETACHD
4783 BLACK FOREST CT$974,500432166DETACHD
3231 DUNCAN DR$1,175,00042.12852DETACHD
1031 SUNNINGDALE RD$1,200,000321917DETACHD
2415 PARK RD$1,265,00042.12748DETACHD
17382 BROOKHURST DR$1,285,00043.13725DETACHD
7 NANSEN$1,395,00044.15640DETACHD
4410 LORDS LN$1,399,00053.13499DETACHD
2944 VALE CT$1,400,00042.13392DETACHD
5811 STEWART GLENN CT$1,550,00042.13930DETACHD
17258 KELOK RD$1,585,000323742DETACHD
804 2ND ST$1,875,00052.12961DETACHD
3721 UPPER DR$1,995,00042.13249DETACHD
14381 FOSBERG RD$2,150,00043.15028DETACHD
1901 CHILDS RD$2,950,000433716DETACHD
14050 GOODALL RD$2,999,90054.26943DETACHD

PENDING May 1-7, 2023

AddressList PriceBedsBathsSFProp TypeDays
45 EAGLE CREST DR #302$229,00011768CONDO4
4000 CARMAN DR, A5$300,00022869CONDO6
10 GREENRIDGE CT$520,00031.12063ATTACHD11
15960 SW LAKE FOREST BLVD$540,000311080DETACHD172
18314 SW FERNBROOK CT$550,00031.11036DETACHD6
1302 BOCA RATAN DR$615,00032.11739CONDO24
14428 HOLLY SPRINGS RD$650,00032.11372CONDO86
4967 GALEN ST$725,00032.12223DETACHD37
4959 DOGWOOD DR$749,900322120DETACHD3
17515 Tree Top Way$809,900321975DETACHD3
12770 SIERRA VISTA DR$885,00042.12665DETACHD4
60 TOUCHSTONE$885,000432657DETACHD9
14141 GOODALL RD$895,00032.11988DETACHD292
18 BECKET ST$1,070,00032.14553DETACHD14
16121 PARELIUS CIR$1,375,00042.13506DETACHD4
2944 VALE CT$1,400,00042.13392DETACHD2
16429 BONAIRE AVE$1,750,00043.13036DETACHD5
814 LAKE SHORE RD$1,790,00032.22385DETACHD13
718 MAPLE ST$1,949,00032.14023DETACHD251
16693 PHANTOM BLUFF CT$2,000,000333201DETACHD4
14381 FOSBERG RD$2,150,00043.15028DETACHD1
1425 CHANDLER RD$3,790,00055.15692DETACHD236
1199 FAIRWAY RD$4,195,00044.25527DETACHD209

SOLD May 1-7, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
212 GREENRIDGE DR$549,000$547,000321392ATTACHD1
206 GREENRIDGE DR$597,000$600,000321362ATTACHD32
13125 VERMEER DR$695,000$698,00042.12046DETACHD5
18701 BRYANT RD$789,000$749,900321995DETACHD33
7 SPINOSA$749,900$758,000332295DETACHD204
19211 INDIAN SPRINGS RD$759,000$760,000432132DETACHD71
16932 GREENTREE AVE$950,000$835,000433440DETACHD66
17502 ERIN CT$999,000$975,000433142DETACHD7
624 LIVINGOOD LN$975,000$995,000432612DETACHD3
3802 SOUTHSHORE BLVD$995,000$1,010,000431908DETACHD3
1031 SUNNINGDALE RD$1,200,000$1,200,000321917DETACHD0
16800 Lakeridge DR$1,290,000$1,220,000432416DETACHD30
5811 STEWART GLENN CT$1,550,000$1,500,00042.13930DETACHD0
2126 WEMBLEY PL$1,795,000$1,625,00043.13603DETACHD83
3556 CARMAN DR$2,200,000$2,400,00053.14000DETACHD118
13050 FIELDING RD$3,200,000$3,200,000454805DETACHD1
2643 SOUTHSHORE BLVD$3,695,000$3,595,00033.24872DETACHD93
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) .

This Week in Lake Oswego

Spring is in the air!

Here are my picks for what to do in Lake Oswego this week in person or online:

Mon, May 1, 2023 – 8:00AM-8:15 PMGet Ready, Get Set, Get Gnomin’ – Lake Oswego Parks – 3 Gnomes are hidden in lake Oswego Parks on the 1st of every month, Play along and find the gnomes, posting photos of you or your dog with the Gnomes (if you do find them ; ) – For More Info & Zoom Link: CLICK HERE

Tues, May 2, 2023 – 5:30PM-6:30PM – First Tuesday Music (In Person or Online)~ Sharon Gan & Daniel Velasquez – Lake Oswego Library presents these two composers, teachers and accomplished musicians in recognition of Asian American and Native Hawaiian/Pacific Islander (AANHPI) Heritage month, Dan and Sharon will take you on a musical journey to several of the countries that make up the AANHPI. Come and enjoy music from these countries! – Lake Oswego Library, 706 4th St, Lake Oswego More Info: CLICK HERE

Wed, May 3, 2023 – 7:00PM If Walls Could Talk: How to Research the History of Your Home~  The Lake Oswego Public Library presents this informative program. Local researcher Char Green will take you through the steps of learning about the history of your home, including valuable tools for finding and then organizing your information. – Lake Oswego Library, 706 4th St, Lake Oswego – More Info + Link:  CLICK HERE

Thurs, May 4, 2023 – 9:00AM-1:00PMIndoor Playground at CCP (Ages 0-4) ~ Rain or shine- No problem!  In-person playtime for your little ones. This is perfect activity for parents and caregivers & available for a $4 Drop-In Fee. ~ Cummins Hall of CCP, 1060 Chandler Road. More Info:  CLICK HERE

Fri, May 5, 2023 – 1:00-3:00PM -Pinochle Friday “Trick-Taking”- Have fun with other experienced players at the Adult Community Center – 505 G Avenue More Info: CLICK HERE

Sat, May 6, 2023 – 8:00-11:00AM– Annual Lake Run– Get out in the spring air and participate in this fun, annual fundraiser for Northwest Housing Alternatives  More Info & Registration :  CLICK HERE

Sun, May 7, 2022 -Bryant Neighborhood Social Event- 4:00PM – Get to know your neighbors at this fun event with plenty of food and beverages & great company!~ Lakeridge Middle School, 4700 Jean Rd. – More Info + Links & Registration: CLICK HERE

Market Activity ~ April 17-23, 2023

Last week Lake Oswego logged 24 properties entering the market/New, 16 Accepted Offers/Pending, and 8 Closed/Sold. Right now there are 134 properties available ranging from $154,900 to $9.9 Mil.

Here is the breakdown:

NEW April 17-23, 2023

AddressList PriceBedsBathsSFProp Type
29 OSWEGO / Grnd$259,90011669CONDO
3652 SW SPRING LN #4F$400,000221117CONDO
480 S STATE ST$480,000321659CONDO
10 GREENRIDGE CT$520,00031.12063ATTACHD
4179 DOUGLAS WAY$565,000321447DETACHD
4430 GOLDEN LN$635,00033.12165CONDO
200 BURNHAM RD #311$678,800321862CONDO
5434 ROSALIA WAY$985,00042.12677DETACHD
5530 BAY CREEK DR$995,00042.12922DETACHD
23 MASARYK ST$1,050,00032.12902DETACHD
18 BECKET ST$1,070,00032.14553DETACHD
16960 STAFFORD RD$1,100,00043.12845DETACHD
8 GARIBALDI ST$1,150,000434080DETACHD
5598 LUCE LN$1,370,000433432DETACHD
3823 Carman DR$1,395,00033.12970DETACHD
1930 INDIAN TRL$1,560,000333260DETACHD
566 4TH ST$1,599,00054.23512ATTACHD
53 EAGLE CREST DR$1,700,00054.24918DETACHD
1658 VILLAGE PARK LN$1,750,00043.24634DETACHD
814 LAKE SHORE RD$1,790,00032.22385DETACHD
1273 WELLS ST$1,795,000534091DETACHD
16650 FIR LN$2,100,00043.13859DETACHD
18011 Kelok RD$2,495,000331840DETACHD
13751 CAMEO CT$3,995,00054.24262DETACHD

PENDING April 17-23, 2023

AddressList PriceBedsBathsSFProp TypeDays
35 CRESTFIELD CT #35$299,00021921CONDO5
4347 SILVER CT$534,90032.11844CONDO12
206 GREENRIDGE DR$597,000321362ATTACHD32
17635 DEEMAR WAY$695,000421513DETACHD25
17220 REBECCA LN$775,00042.12004DETACHD5
3552 UPPER DR$900,00032.12750DETACHD4
624 LIVINGOOD LN$975,000432612DETACHD3
5530 BAY CREEK DR$995,00042.12922DETACHD2
13254 TWIN CREEK CT$1,100,00042.13470DETACHD40
3875 CARMAN DR$1,395,00044.13290DETACHD62
17623 BROOKHURST DR$1,525,00033.24194DETACHD41
530 MIDDLECREST RD$1,600,000433280DETACHD97
2126 WEMBLEY PL$1,699,00043.13603DETACHD83
1658 VILLAGE PARK LN$1,750,00043.24634DETACHD3
17101 CAMPUS WAY$1,775,00044.13367DETACHD28
16650 FIR LN$2,100,00043.13859DETACHD2

SOLD April 17-23, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
200 BURNHAM RD #303$369,000$359,000211185CONDO18
5062 FOOTHILLS DR, H$459,900$415,000321252CONDO151
4433 THUNDER VISTA LN/Grnd$450,000$450,00022.12002CONDO7
16200 PACIFIC HWY #14$500,000$498,000221207CONDO5
4430 GOLDEN LN$635,000$635,00033.12165CONDO0
16472 BONAIRE AVE$650,000$670,000321464DETACHD5
3131 WESTVIEW CT$1,750,000$1,710,00044.14597DETACHD28
13581 GOODALL RD$3,100,000$3,100,00044.15141DETACHD1
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) .

March 2023 – Portland Neighborhood Stats + LO

Overview/Fluctuations ~ March 2023 Market Data:                      

New, Pending & Sold Listings are all up from the previous month, which is what we’d expect at this time of year. Inventory stayed pretty close to last month, dipping a little. Prices are up everywhere except for Milwaukie, NW Washington County& Hillsboro. Activity is strong and this spring I think we’re looking at lots of Buyers out looking for homes & not as many houses available ratio-wise… You know what that means.

It looks like the jobs numbers are coming more in line w/what the Fed wants to see, so the big pain *may* be ending and rates may start to come down. Here’s what our resident expert has to say about that:

Rates: “We have seen the rate markets stabilize recently with rates staying in the lower 6% range.”     Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report  for the Portland Metro Area-March 2023:

  • There were 2,623 New Listings in March down 25.5% from 3,521 in March 2022 and up a whopping 48.7% from the previous month/Feb’s 1,764.
  • At 1,745 March 2023’s Closed Sales (Solds) are down 35.0% from March 2022’s 2,683, and/but up 21.7% from the previous month/Feb 2023’s total of 1,434.
  • At 2,079 March 2023’s Pending Sales (Accepted Offers) are down 31.7% from March 2022’s 3,045, and up 22.1% from the previous month/Feb’s total of 1,703.
  • The Average Sale Price for March 2023 of, $584,500 is down $26,400 from last year/March 2022’s $610,900, and up $15,300 from the previous month/Feb’s $569,200. 
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in February 2023 of $525,000 dropped $25,000 from March 2022’s $550,000,  up $12,100 from Feb 2023’s $512,900. 

LAKE OSWEGO:

162 Active Listings (Feb 149)
127 New Listings  (Feb 92)
94 Pending Sales (Feb 54)
55 Closed Sales  (Feb 58)
Average Sale Price for March: $991,500 (Feb $984,400)
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.
60 Days on the Market   (Feb 57)

Market Activity ~ April 3-9, 2023

Last week Lake Oswego saw 19 New properties enter the market, 9 move to Pending status, and 8 Sold/Closed. There are currently 125 properties available in Lake Oswego ranging from $154,900 to $9.9 mil.

Here is the breakadown:

NEW April 3-9, 2023

AddressList PriceBedsBathsSFProp Type
4347 SILVER CT$534,90032.11844CONDO
5822 SW ROCKWOOD CT$545,00031.11092DETACHD
1302 BOCA RATAN DR$615,00032.11739CONDO
5720 KENNY ST$630,000321416DETACHD
3290 CHILDS RD$739,900311708DETACHD
5465 CHILDS RD$789,000321544DETACHD
51 TOUCHSTONE$875,00042.13105DETACHD
5865 SOUTHWOOD DR$950,00042.13035DETACHD
191 3RD ST #6$950,000221523CONDO
17502 ERIN CT$999,000433142DETACHD
18086 JENIFERS WAY$1,000,00032.12582DETACHD
4799 LAMONT WAY$1,325,00042.13142DETACHD
19263 35TH PL$1,425,00043.13476DETACHD
16461 CHAPIN WAY$1,475,00042.14012DETACHD
2803 SOUTHSHORE BLVD$1,495,000433747DETACHD
17285 TUALATIN ST$1,579,000434178DETACHD
15203 LILY BAY CT$1,595,00042.13216DETACHD
17147 OLD RIVER DR$2,995,00044.26900DETACHD
13050 FIELDING RD$3,200,000454805DETACHD

PENDING April 3-9, 2023

AddressList PriceBedsBathsSFProp TypeDays
237 CERVANTES #19$315,00021.11216CONDO54
4967 GALEN ST$725,00032.12223DETACHD4
647 2ND ST$795,000221457ATTACHD10
5865 SOUTHWOOD DR$950,00042.13035DETACHD2
3802 SOUTHSHORE BLVD$995,000431908DETACHD3
16461 CHAPIN WAY$1,475,00042.14012DETACHD4
1633 MAPLE ST$1,495,000333448DETACHD14
21 D AVE #8$1,945,60022.12183CONDO503
13050 FIELDING RD$3,200,000454805DETACHD1

SOLD April 3-9, 2023

AddressOpeningClosedProp TypeSFBedsBathsDays
16061 WALUGA DR$660,000$450,000DETACHD6761145
11 EAGLE CREST DR$575,000$573,000DETACHD1522224
765 10TH ST$1,225,000$1,000,000DETACHD252633123
2329 STONEHURST CT$1,250,000$1,260,000DETACHD3622435
4871 CENTERWOOD ST$1,300,000$1,350,000DETACHD2749533
840 9TH ST$2,150,000$2,250,000DETACHD283544.14
614 CABANA LN$2,498,000$2,400,000DETACHD3257332
17435 WREN CT$3,695,000$3,600,000DETACHD413444.1156
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) .

So, It’s Key Day!

It’s been a long trek to the finish line & now you’re here! What can you expect, and before you get here, how can you plan so that it’s the best experience ever? Well, let’s take a look at a few random things that tend to come up, just for fun.

  • Personal Items & Trash – The standard OREF Residential Sale Agreement states: “Prior to Closing, Seller will remove all of Seller’s personal property (including trash).”  Even though this is in the Agreement, people get confused about it all the time. I’ve had to deal with people’s sheds filled with boxes and all kinds of interesting things after Closing. Some people think you want their bags of redeemable cans in the closet, or that you want every can of paint they’ve ever decided to store in the garage “just in case”, or a stack of pallets on the side of the house, etc etc.  Now, there are things people leave that are actually helpful, like a few cans of paint so that you can match or touch up if you want, maybe a lawnmower if the Seller is moving to a condo and you’re a First-Time Home-Buyer, or an unopened bag of lawn fertilizer (handy) or a set of yard tools…you get the picture. The biggest thing to remember here is that this should be addressed up front. These kinds of things can sometimes be talked about during the Inspection Period.  It doesn’t hurt to just mention that you either do or no not want these items (“The Seller is removing everything from the shed & garage, right?”…”Those tires stacked in the back corner of the yard are being removed, right?”), and your Agent reminding the Seller’s Agent prior to Closing that the shed needs to be empty, etc never hurts. I had my own Seller tell me one time “I didn’t know I had to empty the shed!”. You may also write a final walkthrough into your Offer if you want to, but remember that if you’re competing, you may also want to consider leaving anything “extra” like this out of that initial Offer document, perhaps addressing it later on with an Addendum, or your Agent just checking in verbally on any final checklist items.
  • Clean – You expect your new home to be clean on the day you take Possession. The trouble is that, like one mentor-Agent of mine told me when I was new- “People are quirky”.  Different people have different ideas of what clean means.  Be prepared with Plan B as a Buyer if you are not satisfied with the level of clean that you find on Closing Day.  You can line up a house-cleaner to help prior to moving day, or just prepare to give it a once-over yourself, or my favorite idea: Move in and then hire a house-cleaner to help clean AND instill order after the moving and chaos dies down a bit.
  • Possession Timing – That reminds me of the time I found myself on my hands and knees scrubbing a refrigerator at 4:00PM after dumping everything in it into black plastic bags because my Seller was confused about the 5:00PM deadline for move-out.  He apparently thought of it as an easy-going goal to work toward and not as a contractual obligation, so when I showed up a couple hours ahead to help (upon learning he was still moving out) I ended up on my knees with cleaning products in Super-Woman mode. So… Pay attention to the dates & times stipulated in the contract, and as a Buyer, your Agent may want to check in with the Seller’s Agent ahead of time just to make sure everyone is on the same page. It has been a matter of discussion among Realtors recently as to whether a standard 5:00PM Possession in the contract meant anytime that day & 5:00 at the absolute latest, or: 5:00PM. (Yes, you can write in other times, but usually it ends up being 5:00PM….Funding & Recording often finalize around 4:00PM, for one thing.) The contract states “by 5:00PM”. This is generally interpreted to mean 5:00PM : ) unless the parties agree that the Seller is all moved out, Funding and Recording have occurred, and the Buyer is welcome to take possession earlier than 5:00. As with most things, communication and forethought are key.
  • Fixtures, “Smart Home” Features, and Appliances –  This should all be spelled out waaay ahead of Closing day. Fixtures stay with the home unless otherwise specified in writing.  Fixtures are understood to be things permanently affixed to the house or obviously meant to be a functioning part of the home.  So, things like Wall-brackets for TV’s generally stay, BUT, some Sellers may get confused and think that they’re a part of their TV, or you may not have a wall TV and really prefer they take the brackets.  The easy answer to this looming potential issue is to spell it out in writing, preferably in the Offer. The same confusion can arise over home video-monitoring systems, cameras, fancy remote-control tech toys for thermostats etc that may be part of a subscription package. Again, do it in writing so everyone is clear what stays and what goes.  Appliances are always spelled out in the Offer even if they’re included in the Listing just so that everyone is in a good mood on Closing day & not “surprised” by misunderstandings.

All in all, the basic idea is to think ahead & talk through a plan with your Agent so that when you walk into your new home, you’re doing nothing but popping champagne, or jumping up & down, or running from room to room making happy sounds.  It should be your Day of Joy!

One of my favorite overarching rules to live by that applies to so many things is summed up in this quote from Terry Josephson: “The more you prepare, the luckier you appear.”

Market Activity ~ March 20-26, 2023

Last week Lake Oswego had 12 properties enter the market (New), 13 move to Pending/Accepted-Offer status, and 8 that Closed/Sold.

Right now there are 110 properties available in Lake Oswego ranging from $176,900 to $9.9 mil.

Here is the breakdown:

NEW March 20-26, 2023

AddressList PriceBedsBathsSFProp Type
47 EAGLE CREST DR #31$242,500211009CONDO
200 BURNHAM RD #306$354,900211199CONDO
16200 PACIFIC HWY #14$500,000221207CONDO
17635 DEEMAR WAY$695,000421513DETACHD
13125 VERMEER DR$715,00042.12046DETACHD
647 2ND ST$795,000221457ATTACHD
644 ELLIS AVE$875,000422335DETACHD
7 BECKET ST$999,00043.14176DETACHD
430 9TH ST$1,199,000222756DETACHD
1633 MAPLE ST$1,495,000333448DETACHD
17101 CAMPUS WAY$1,850,00044.13367DETACHD
13570 GOODALL RD$3,850,00064.16211DETACHD

PENDING March 20-26, 2023

AddressList PriceBedsBathsSFProp TypeDays
46 CRESTFIELD CT/Upper$295,00021923CONDO3
200 BURNHAM RD #303$359,000211185CONDO18
16880 TRACY AVE$510,000311080DETACHD63
5857 CARMAN DR$575,00021972DETACHD121
206 GREENRIDGE DR$597,000321362ATTACHD5
16932 GREENTREE AVE$850,000433440DETACHD66
644 ELLIS AVE$875,000422335DETACHD3
4199 FRUITWOOD CT$949,000322230DETACHD3
430 9TH ST$1,199,000222756DETACHD2
3131 WESTVIEW CT$1,750,00044.14597DETACHD28
840 9TH ST$2,150,00044.12835DETACHD4
15880 OSWEGO SHORE CT$2,175,00053.13977DETACHD26
13777 CAMEO CT$3,395,00055.16984DETACHD240

SOLD March 20-26, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
1805 Headlee LN$850,000$850,000222388DETACHD7
1550 BEDFORD CT$845,000$857,13532.12411DETACHD3
18451 WAXWING ST$975,000$1,100,00042.12730DETACHD2
17390 GRANDVIEW CT$1,450,000$1,465,00044.24502DETACHD8
16515 INVERURIE RD$1,879,900$1,876,40053.13490DETACHD3
15784 TWIN FIR RD$1,990,900$1,930,00032.13471DETACHD5
4694 UPPER DR$2,098,000$2,000,000333637DETACHD53
2485 GREENTREE RD$2,325,000$2,149,000443853DETACHD186
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) .

Feb 2023 – Portland Neighborhood Stats + LO

Overview/Fluctuations ~ February 2023 Market Data:                               

It’s kind of a mixed bag of information coming in from last month’s data and current events. Firstly, Inventory took a dip in February contrasting with the steady rise we’ve been seeing over the last 5 months. Word on the street is that the photographers are very busy with Listing photo shoots, so it is likely a brief anomaly, but we’ll see when the March numbers come out. Overall I’d say it’s maybe a bit of a slow start, but we don’t really see the market dress up with everybody coming out to the party till March/April anyway. Closed sales are up 31.8% over January and prices are generally rising back from the drop they took in January (see Neighborhood Report below). Of course the big news right now is the banking sector and the way those issues will or will not affect interest rates and the Fed’s actions.

Rates: “After several weeks of pressure on rates moving higher, we are seeing a pullback with rates dropping to the lower 6% range.

Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report  for the Portland Metro Area-Feb 2023:

  • There were 1,764 New Listings in Feb down 31.4% from 2,571 in Feb 2022 and also down 9.0% from the previous month/Jan’s 1,938.
  • At 1,434 Feb 2023’s Closed Sales (Solds) are down 26.0% from Feb 2022’s 1,939, and/but up 31.8% from the previous month/Jan 2023’s total of 1,088.
  • At 1,703 Feb 2023’s Pending Sales (Accepted Offers) are down 30.5% from Feb 2022’s 2,452, and also down a smaller fraction of 3.8% from the previous month/Jan’s total of 1,771.
  • The Average Sale Price for February 2023 of, $569,200 is down $13,000 from last year/Feb 2022’s $582,200, and up a significant $36,300 from the previous month/Jan’s $532,900. 
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in February 2023 of $512,900 dropped $12,100 from Feb 2022’s $525,000, and is up $23,400 from January 2023’s $489,500. 

LAKE OSWEGO (February 2023):

149 Active Listings (Jan 132)
92 New Listings  (Jan 81)
54 Pending Sales (Jan 75
58 Closed Sales  (Jan 38)
Average Sale Price for Nov: $984,400 (Jan $1,005,400)
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.
57 Days on the Market   (Jan 58)

Market Activity ~ March 6-12, 2023

This last week Lake Oswego had 18 properties enter the market (New), 12 move to Pending/Accepted Offer stage, and 7 that Sold/Closed. Right now there are 112 properties to choose from in lake Oswego ranging from $176,900 to $9.9 mil.

Here is the breakdown of last week’s activity:

NEW March 6-12, 2023

AddressList PriceBedsBathsSFProp Type
4 TOUCHSTONE #119$235,00032.11351CONDO
16250 PACIFIC HWY #71$369,999221305CONDO
4459 GOLDEN LN, Grnd$445,00032.11737CONDO
4433 THUNDER VISTA LN, Grnd$450,00022.12002CONDO
46 GREENRIDGE CT$685,00032.12036ATTACHD
4748 AMHERST CT$695,00032.13015ATTACHD
18701 BRYANT RD$789,000321995DETACHD
1865 MAPLELEAF RD$799,900321686DETACHD
7 HOTSPUR ST$825,000432195DETACHD
17950 SAINT CLAIR DR$875,00042.12895DETACHD
18490 RAY RIDGE DR$1,100,00033.13426DETACHD
5308 SOUTHWOOD DR$1,195,000433003DETACHD
5290 CHILDS RD$1,499,00044.13671DETACHD
17623 BROOKHURST DR$1,575,00033.24194DETACHD
614 CABANA LN$2,498,000333257DETACHD
13581 GOODALL RD$3,100,00044.15141DETACHD
3531 Lake Grove AVE$3,850,00043.25036DETACHD
3358 LAKEVIEW BLVD$5,200,000545133DETACHD

PENDING March 6-12, 2023

AddressList PriceBedsBathsSFProp TypeDays
1120 BOCA RATAN DR$550,000321611ATTACHD44
14 PREAKNESS CT$749,00022.12190ATTACHD5
1501 FERNWOOD DR$779,900431934DETACHD6
4997 MULHOLLAND DR$799,90022.12468DETACHD33
1550 BEDFORD CT$845,00032.12411DETACHD3
5308 SOUTHWOOD DR$1,195,000433003DETACHD2
2329 STONEHURST CT$1,250,000433622DETACHD5
4871 CENTERWOOD ST$1,300,000532749DETACHD3
4694 UPPER DR$2,098,000333637DETACHD53
614 CABANA LN$2,498,000333257DETACHD2
13581 GOODALL RD$3,100,00044.15141DETACHD1
1455 CHANDLER RD$5,474,90056.15588DETACHD155

SOLD March 6-12, 2023

AddressOpeningClosedBedsBathsSFProp TypeDays
44 EAGLE CREST DR, Lower$265,000$290,000321085CONDO5
1731 ASPEN CT$619,000$614,000321440DETACHD4
13991 MAJESTIC CT$789,000$812,000321765DETACHD6
17950 SAINT CLAIR DR$875,000$860,00042.12895DETACHD0
1466 Nelson CT$1,195,000$1,124,00043.13169DETACHD137
1745 MAPLELEAF RD$1,800,000$1,610,00053.13661DETACHD100
2671 GLEN EAGLES RD$1,895,000$1,760,000334014DETACHD274
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) .

This Week In Lake Oswego

Here are my picks for what to do this week in Lake Oswego, either online or in person:

Mon, Mar 6, 2023 – 6-7:30 PMMcVey/Stafford Corridor Vision Study- Virtual Presentation – This busy location in Palisades has received lots of input as to how to best change things to move people and traffic more effectively and safely. It’s such an important area of Lake Oswego- Tune in for the Zoom presentation Monday night. – For More Info & Zoom Link: CLICK HERE

Tues, Mar 7, 2023 – 6:00PM-7:00PM – First Tuesday Music ~ Overbridge Jazz Band – Lake Oswego Library presents these great local jazz musicians (Tyler Waltner on saxophone, Riley Harris on piano, Luke Hendrickson on bass, and Anderson Donley on drums) who are keeping the music of Miles Davis, Louis Armstrong and more alive! Described as “horn heavy swing, bebop, and Latin tunes”, the Library will be hoppin’ Tuesday night! – Lake Oswego Library, 706 4th St, Lake Oswego More Info: CLICK HERE

Wed, Mar 8, 2023 – 10:00-11:30AM Geneology Interest Group~  Meet in person or online on the 2nd Wed of each month with others interested in geneology research. 505 G Ave – More Info + Link:  CLICK HERE

Thurs, Mar 9, 2023 – 10:00-11:00AMScams & Frauds – Lake Oswego Police Presentation ~ In-person at the ACC Scammers are trying to steal your money and information. Let Lake Oswego Police arm you with some great tips & resources. ~ACC, 505 G Ave, Lake Oswego- More Info:  CLICK HERE

Fri, Mar 10, 2023 – 7:00-9:00PM – Living Well Dance – featuring the Millennium Dance Band ~ Come dance! Dance music as performed by the “Big Bands” of the 1930’s, 40’s, and 50’s, with an occasional ballroom favorite. $7.00 at the door ~ CCP, 1060 Chandler Rd. – All ages are invited (14 and under w/an adult) – More Info: CLICK HERE

Sat, Mar 11, 2023 – 9:00-11:00AMStewardship Work Party at Springbrook Park- Bring some gloves, water & closed-toed shoes to join Friends of Springbrook Park in caring for the shaded fuel break along park and private property in these 52 natural acres. – 2055 Wembley Park Rd. Behind Uplands Elem. (playground by park kiosk)  More Info :  CLICK HERE

Sun, Mar 12, 2022 -A Bookish Affair (Online)- 11:00AM-12:00PM – Open to all devotees of romance & happily-ever-after! Book Club focusing on diverse voices & every kind of love story. ~ More Info + Links & Registration: CLICK HERE