Author: Linda Rossi

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The Week in Lake Oswego ~ Oct 12-18, 2020

Here are my picks for things happening this week!

Mon, Oct 12, 2020– 12:00-1:00PM –  Lunch 2 Go!  ~ Dining Room is obviously problematic during COVID, but this service continues M/W/F with drive-up service! They love to see your faces! $4.00 over 60 and $5.00 under 60. Adult Community Center – 505 G Ave –  Info & Ordering: CLICK HERE

Tue, Oct 13, 2020 –  4:00-5:00PM – Cook the Books Book Group~Join via Webex every week to eat and talk about food! Enjoy recipe exchanges and trying out recipes from a variety of cookbooks.  –   Info & Registration:  CLICK HERE  

Wed, Oct 14, 2020 – 6:30-7:00PM / Ages 2-12- All About Cats (Virtual Class) ~ Each week kids explore and learn all about the world of cats! – Presented by CCP~ Info & Reg:  CLICK HERE     

Thu, Oct 15, 2020 2:00-3:00 – Healthy Eating Every Day ~On Mondays and Thursdays learn how to adjust your eating during these challenging COVID times. Get back in the swing of healthy eating!  ~ Presented by Adult Community Center – Info & Registration:    CLICK HERE

Fri , Oct 16 2020:  9AM-9PM, Video Postcards from Your Librarians!   ~ Check in every Friday for new stories, songs and general levity “till we can all be back together again”. Available online 24 hrs/day. Refreshed weekly. Presented by Lake Oswego Library.- Info: CLICK HERE 

Sat , Oct 17 2020:  10:00AM, Storyline Online   ~Every Saturday enjoy celebrated actors reading children’s books alongside creatively produced illustrations. Fresh videos are featured weekly on the Lake Oswego Library’s Kids Page.  Info: CLICK HERE 

Sun, Oct 18, 2020– 1:00-3:00PM –  Stewardship Work Party at Iron Mountain Park  ~ Help restore 50 acres of treasured natural habitat. Bring a shovel, pruners, gloves and a container of water. – Iron Mountain Park, Parking: Off Glen Eagles Rd –  Info & Registration: CLICK HERE

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Market Activity ~ Sept 28-Oct 4, 2020

Last week in Lake Oswego we saw 16 New Properties come on the market, 22 move to Pending status, and 28 Closed Transactions. There are currently 170 properties to choose from in Lake Oswego!

NEW Sept 28- Oct 4, 2020

PENDING Sept 28-Oct 4, 2020

SOLD Sept 28-Oct 4, 2020

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.

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News & Notes ~ Aug 2020 Numbers

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

Inventory is still very low.  Pending Sales (Offers being accepted) are up this summer. About the same as July, and up a whopping 26.2% from last year.

It is still considered a Sellers’ Market and Buyers are still out en force. Rates are still very good, around 2.875 today.

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

  • There were 3,885  New Listings in Aug 2020 which increased 3.4%  from Aug of 2019’s 3,757, and decreased 8.3% over the previous month/July’s 4,236.
  • At 3,149, Aug 2020’s Closed Sales are up at 8.5% from Aug 2019’s 2,901, and dropped by 7.1% from the previous month/July 2020’s total of 3,391
  • At 3,697, Aug 2020’s Pending Sales are up 26.2% from Aug 2019’s 2,929, and increasing 1.1% over the previous month/July 2020’s total of 3,656.
  • The Average Sale Price in Aug 2020 of $511,000 is up $48,400 from last year/Aug 2019’s $462,600, and is also up $8,700 from the previous month/July 2020’s $502,300.   YTD increase is 4.8%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Aug 2020 of $449,000 rose from last year/July 2019’s $417,500 by $31,500, and is up by $4,000 from the previous month/July 2020’s $445,000    YTD increase is 4.9%.

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

  • North Portland:  $461,800              3.6%   (July $453,900)
    •                                                     YTD Median: $427,000
  • NE Portland:  $527,500                   2.6%   (July $515,100)
    •                                                     YTD Median: $445,000
  • SE Portland:  $487,200                   4.7%   (July $459,500)
    •                                                     YTD Median: $400,000
  • Gresham/Troutdale:   $393,900     2.3%   (July $393,100)
    •                                                     YTD Median: $369,000
  • Milwaukie/Clackamas:  $480,800  4.9%   (July $487,000)
    •                                                     YTD Median: $442,000
  • Oregon City/Canby:   $481,800      4.5%   (July $447,300 )
    •                                                     YTD Median: $439,800
  • Lake Oswego/West Linn:$787,000  10.2%  (July $830,600)
    •                                                      YTD Median: $629,000
  • West Portland:    $656,500             1.8%  (July $629,500)
    •                                                     YTD Median: $540,000
  • NW Wash County:  $574,200          2.5%   (July $575,600 )
    •                                                      YTD Median: $513,000
  • Beaverton/Aloha:     $442,000       3.1%   (July $416,300)
    •                                                     YTD Median: $410,500
  • Tigard/Wilsonville:   $537,900        5.7%   (July $537,300)
    •                                                      YTD Median: $474,000
  • Hillsboro/Forest Grove: $452,400  5.8%   (July $437,100)
    •                                                      YTD Median: $404,000

LAKE OSWEGO:

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

    •  290 Active Listings (July 311)
    •  229 New Listings     (July 242)
    •  208 Pending Sales   (July 191)
    •  178 Closed Sales       (July 193)
    • Average Sale Price for Aug: $787,000  (July $830,600)
      • 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.
    •  71 Average Days on the Market   (July 62)

 

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Market Activity ~ Sept 14-20, 2020

Last week in Lake Oswego there were 14 New listings, 20 properties that went into Pending status, and 32 Closed sales.  There are currently 181 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Sept 14-20, 2020)

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #112 $219,900 3 2.1 1351 CONDO
4615 LAKEVIEW BLVD/Grnd $242,500 1 1 753 CONDO
4045 JEFFERSON PKWY $310,000 2 2.1 1182 CONDO
668 McVey AVE #65 $315,000 1 1 636 CONDO
937 COUNTRY CLUB RD $503,500 2 1 1650 DETACHD
5885 DOVE CT $599,900 3 3 1795 DETACHD
29 WALKING WOODS DR $600,000 3 2 2311 DETACHD
17226 TUALATIN ST $695,000 4 2.1 1942 DETACHD
15988 WHITE OAKS DR $749,950 4 2.1 2854 DETACHD
13998 WESTCOTT CT $849,900 4 2.1 2727 DETACHD
13217 FOX RUN $868,000 4 3 2906 DETACHD
639 CARRERA LN $1,350,000 4 3.1 4447 DETACHD
15536 VILLAGE DR $1,350,000 5 3 3985 DETACHD
629 5TH ST $1,475,000 4 2.1 2985 DETACHD

Pending Sales (Sept 14-20, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 Carman DR A-16 $257,000 2 2 1025 CONDO 48
213 OSWEGO SMT / Upper $312,700 2 2 1383 CONDO 4
16200 PACIFIC HWY #24 $315,900 2 2 1190 CONDO 164
4093 JEFFERSON PKWY $324,500 2 2.1 1302 CONDO 22
6073 HARRINGTON AVE $429,900 2 1 1050 DETACHD 34
1001 CEDAR ST $499,000 4 2.1 2572 DETACHD 5
5907 KENNY ST $499,900 3 2 1283 DETACHD 1
18706 BRYANT RD $645,000 3 2.1 2489 DETACHD 99
49 TANGLEWOOD DR $649,900 4 2.1 2502 DETACHD 161
15480 HERITAGE CT $665,000 4 2.1 2432 DETACHD 6
39 TOUCHSTONE $699,900 4 3 3400 DETACHD 39
2 MOZARTEUM CT $705,000 4 2.1 2192 DETACHD 4
4045 MELISSA DR $758,000 4 2.1 2529 DETACHD 7
2341 STONEHURST CT $885,000 4 2.1 3389 DETACHD 15
19457 35TH CT $929,000 4 2.1 3538 DETACHD 40
5983 CLAIRMONT CT $975,000 5 3 3518 DETACHD 1
15469 DIAMOND HEAD RD $1,098,000 4 3 3734 DETACHD 460
717 8TH ST $1,170,000 4 2.1 2584 DETACHD 54
17522 BRYANT RD $1,399,000 4 4 3545 DETACHD 39
17787 CARDINAL DR $2,098,000 4 4 3270 DETACHD 62

Sold/Closed (Sept 14-20, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #15 $170,000 $164,000 1 1 798 CONDO 23
4 TOUCHSTONE #81 $224,950 $175,000 3 2.1 1350 CONDO 29
4 TOUCHSTONE #130 $205,000 $195,000 2 2 984 CONDO 186
3864 BOTTICELLI ST $257,500 $255,000 2 1.1 1132 CONDO 28
7 SUMMIT RIDGE CT $449,000 $440,000 2 2.1 1704 ATTACHD 14
1 PHEASANT RUN $475,000 $450,000 3 2.1 1780 DETACHD 11
18344 TERRY AVE $425,000 $476,000 3 1 1204 DETACHD 6
151 KINGSGATE RD $499,999 $490,000 2 2 1585 DETACHD 34
112 TOUCHSTONE TER $520,000 $535,000 3 2.1 2002 ATTACHD 0
17200 ROBB PL $610,000 $600,000 3 2.1 2206 DETACHD 9
1714 MEADOWS DR $583,000 $602,000 3 2 1804 DETACHD 4
5834 SEVILLE AVE $679,900 $620,000 3 2 2056 DETACHD 13
4962 HARVARD CT $670,000 $642,000 4 2.1 2522 DETACHD 52
12788 SIERRA VISTA DR $770,000 $722,000 4 3.1 2880 DETACHD 29
460 BOCA RATAN DR $705,000 $750,000 3 3 2164 DETACHD 5
1868 GLENMORRIE DR $829,900 $769,000 4 4 3158 DETACHD 12
13885 PROVINCIAL HILL DR $799,500 $790,000 4 3.1 2970 DETACHD 2
885 8TH ST $949,000 $885,000 3 2 1730 DETACHD 36
17358 BROOKHURST DR $895,000 $895,000 4 3 3592 DETACHD 2
5224 LOWER DR $925,000 $925,000 4 3 2571 DETACHD 5
44 TOUCHSTONE $975,000 $955,000 5 3 2507 DETACHD 25
19345 RIVERWOOD LN $975,000 $969,000 4 3.1 3383 DETACHD 7
6040 LAKEVIEW BLVD $1,200,000 $1,123,000 5 3 3701 DETACHD 42
18253 SIENA DR $1,395,000 $1,200,000 5 4 4375 DETACHD 63
5337 WASHINGTON CT $1,225,000 $1,225,000 4 3 3789 DETACHD 5
3122 Glenmorrie DR $1,299,000 $1,225,000 4 3.1 3724 DETACHD 14
17684 STAFFORD RD, Lot 3 $1,499,950 $1,435,000 6 4.1 4407 DETACHD 563
3600 SOUTHSHORE BLVD $1,650,000 $1,463,845 3 2.1 2117 DETACHD 60
610 4TH ST $1,650,000 $1,525,000 4 2.1 3394 DETACHD 157
883 8th ST $1,750,000 $1,675,000 5 4.1 4546 DETACHD 29
936 EVERGREEN RD $1,995,000 $1,920,000 4 3.1 3772 DETACHD 297
18414 OLD RIVER LNDG $2,980,000 $2,400,000 4 4.2 7022 DETACHD 95

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.

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Lake Oswego and the Clackamas County Fires

Pardon me for this brief post. We’re all very busy with real estate amidst the wildfire situations that are hopefully subsiding. Our beloved Lake Oswego was poised to be on alert, but has now been taken off that alert status.  All of us are balancing normal lives with this additional set of circumstances.  You can set yourself up to receive alerts at this link: CLICK HERE

For now we all are thinking of our friends and loved ones in less protected areas who have needed to evacuate.  We’re grateful to only be dealing with the smoke and know that our blue skies are slated to return this week with some much anticipated rain.

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Market Activity ~ Aug 31 – Sept 6, 2020

Last week in Lake Oswego there were 14 New listings, 33 properties that went into Pending status, and 29 Closed sales.  There are currently 190 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 31-Sept 6, 2020)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWY #5 $169,000 1 1 617 CONDO
92 CERVANTES CIR $205,000 2 1.1 912 CONDO
3872 BOTTICELLI ST $289,900 3 2 1171 CONDO
4107 JEFFERSON PKWY $329,000 2 2.1 1507 CONDO
4347 SILVER CT $455,000 3 2.1 1844 CONDO
2631 SW ORCHARD HILL PL $619,900 4 2.1 2447 DETACHD
18857 INDIAN SPRINGS CIR $839,900 4 3 2572 DETACHD
5228 LOWER DR $850,000 3 2.1 2723 DETACHD
4850 LOWER DR $869,900 4 3 2700 DETACHD
2591 PALISADES CREST DR $1,219,000 3 2.1 4916 DETACHD
13744 KNAUS RD $1,450,000 4 3.1 3667 DETACHD
13594 GOODALL RD $1,669,000 4 4.1 3732 DETACHD
14500 UPLANDS DR $2,599,000 5 4.2 5544 DETACHD
1101 CRESTLINE CT $3,695,000 4 4.3 7226 DETACHD

Pending Sales (Aug 31-Sept 6, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
217 CERVANTES $250,000 2 1.1 1204 CONDO 12
4000 Carman DR, A-16 $257,000 2 2 1025 CONDO 37
3864 BOTTICELLI ST $257,500 2 1.1 1132 CONDO 28
16200 S Pacific HWY #23 $319,000 2 2 1208 CONDO 64
30 WHEATHERSTONE $415,000 3 2.1 1692 CONDO 1
25 AQUINAS ST $445,000 3 2 1477 DETACHD 18
6136 FERNBROOK CIR $449,900 3 1 1250 DETACHD 5
18508 BENFIELD AVE $479,900 4 2 1521 DETACHD 5
19175 SW PILKINGTON RD $599,900 3 1.1 1820 DETACHD 5
17950 MEADOWLARK LN $649,000 5 3 2710 DETACHD 32
639 2ND ST $649,900 2 2.1 1457 ATTACHD 25
620 TIPPECANOE CT $649,900 3 2 1718 DETACHD 9
6550 CHILDS RD $650,000 4 3 1864 DETACHD 2
17838 LAKE HAVEN DR $839,900 4 3 2214 DETACHD 3
17898 HILLSIDE DR $849,000 4 3 4158 DETACHD 8
1983 RIDGEWOOD RD $898,000 5 4.1 4961 DETACHD 142
5303 AMBERWOOD CT $999,000 3 2.1 3490 DETACHD 18
3343 FIR RIDGE RD $999,850 4 3 3430 DETACHD 23
1149 CHERRY LN $1,050,000 3 2.2 3231 DETACHD 12
4471 West RD, Lot 4 $1,125,000 4 3 3885 DETACHD 10
929 COUNTRY CMNS $1,200,000 4 3 3962 DETACHD 43
2250 SOUTHSHORE BLVD $1,248,000 4 4.1 4432 DETACHD 201
3080 WESTVIEW CIR $1,299,000 4 3 3473 DETACHD 38
16850 CORTEZ CT $1,349,900 4 4 3550 DETACHD 134
210 NORTHSHORE RD $1,398,000 4 3.1 3148 DETACHD 891
1318 HORSESHOE CURV $1,425,000 5 3 3715 DETACHD 3
17010 Canal CIR $1,665,000 4 3.1 3746 DETACHD
4233 UPPER DR $1,665,000 5 3.1 3902 DETACHD 430
936 EVERGREEN RD $1,949,000 4 3.1 3772 DETACHD 297
1217 Lake Front RD $1,995,000 3 2.1 2628 DETACHD 75
17787 CARDINAL DR $2,098,000 4 4 3270 DETACHD 44
16793 GRAEF CIR $2,150,000 4 3.1 4220 DETACHD 116
757 LAKE SHORE RD $3,089,000 4 3.1 4098 DETACHD 72

Sold/Closed (Aug 31-Sept 6, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #9 $194,900 $194,900 2 1 908 CONDO 4
3930 LAKE GROVE AVE #3A $210,800 $200,000 2 1 956 CONDO 183
4000 CARMAN DR, C39 $229,000 $223,500 2 2 866 CONDO 14
47 EAGLE CREST DR $259,500 $236,500 3 2 1026 ATTACHD 64
90 OSWEGO SMT / Upper $239,000 $241,500 2 2 1140 CONDO 2
4621 LAKEVIEW BLVD / Upper $279,999 $276,000 2 2 1178 CONDO 8
4372 WOODSIDE CIR $339,900 $342,000 2 2 1178 ATTACHD 4
12844 BOONES FERRY RD / Grnd $409,900 $398,000 2 2.1 1177 CONDO 21
1224 HEMLOCK ST $400,000 $415,000 2 1 784 DETACHD 3
16215 LAKE FOREST BLVD $425,000 $425,000 3 1 1001 DETACHD 5
19235 REDWING CT $619,900 $581,109 4 2 2084 DETACHD 6
13758 REGENCY CT $649,900 $665,000 3 2.1 1986 DETACHD 2
762 D AVE $640,000 $680,000 2 2 1358 DETACHD 2
5675 VICTORIA CT $800,000 $682,000 3 2.1 2546 DETACHD 92
2811 PARK RD $659,000 $690,000 4 2.1 2248 DETACHD 4
397 LIVINGOOD LN $719,000 $714,000 3 2.1 2631 DETACHD 6
2782 TOLKIEN LN $799,000 $728,812 4 3.1 3207 DETACHD 19
4991 HARTFORD PL $859,950 $830,000 3 3.1 3098 DETACHD 28
802 CLARA CT $849,000 $839,000 4 3 2886 DETACHD 7
32 WILBUR ST $862,500 $862,500 3 2.1 2671 CONDO 1
18283 LOTHLORIEN WAY $889,000 $875,000 4 3 3053 DETACHD 13
18220 RIVER EDGE CT $1,050,000 $938,800 4 3 3432 DETACHD 60
1425 MORNING SKY CT $895,000 $945,000 4 3 3282 DETACHD 2
100 LEONARD ST $1,079,000 $1,015,000 3 2.1 3137 CONDO 21
1300 GLENMORRIE DR $1,050,000 $1,050,000 5 3.1 4613 DETACHD 3
14414 PFEIFER DR $1,199,000 $1,210,000 4 3.1 3744 DETACHD 61
13344 BRIARWOOD LN $1,369,000 $1,315,000 4 3 3413 DETACHD 394
2126 WEMBLEY PL $1,425,000 $1,400,000 4 3.1 3531 DETACHD 42
14722 UPLANDS DR $1,599,000 $1,680,900 4 4.1 3831 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.

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The Buzz About Inventory

Real Estate is a complex beast, but some aspects of it are pretty simple- Supply and Demand, for instance.  When there are fewer homes on the market, Sellers are in a better position to bargain as it often means there will be multiple offers coming in. Markets like this wreak havoc with Buyers and Appraisers alike as folks start pushing prices up in order to win a given property in a bidding situation. I tell my clients who are worried about pushing value beyond the status quo with a higher offer that they are actually setting the standard for Appraised Value on homes in their new neighborhood as Appraisers really are just calculating what people are willing to pay/have paid, thus how much homes in any given area are worth. The sale only counts toward that calculation however after it is final. The immediate peril of course is the prospect of a Seller being unwilling to budge if the Appraisal comes in lower than the Sale Price and the Buyer is put in the position of having to decide whether to bring cash to the table.

Pluses & Minuses- As far as impact on the Buyer, the upside is that the above scenario spurred by low inventory positively affects future value/appreciation of their property as well as the aforementioned immediate effect of the Closing Sale Price impacting the neighborhood’s value. These things are almost always assured. On the less positive side, depending on what neighborhood this is occurring in, property values can rise to the degree that a large number of people are just priced out of the picture. This is called gentrification and usually relates to lower-priced areas becoming unrecognizable to those who live there and or would have normally wanted to live there. Obviously this is not the case in Lake Oswego which has historically been a generally higher-priced area on the outskirts of Portland, and/but there are areas of Lake Oswego that are wonderful, AND more affordable for many families that could be impacted as well.

So, that is what low inventory does  to the market. As far as how it is arrived at~ Essentially, the Inventory at any given time is calculated at how many months it will take to sell the existing homes on the market based on the current rate at which homes are selling. I used the formula espoused by Sapling to break out comparative Inventory for Lake Oswego.

If we compare just Lake Oswego and its inventory vs July 2019, it looks like this:

  • July 2019: 451 Active Listings divided by Sold & Pendings at 357 = 1.26 Months of Inventory.
  • July 2020: 311 Active Listings divided by Sold & Pendings at 384 = .809 Months of Inventory.

So, you can see how a large number of Buyers actively looking for houses and a limited number of properties for sale can affect the overall landscape of real estate in a given area. Looks like it might be time to sell if you’ve been on the fence?

 

 

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Market Activity ~ Aug 10-16, 2020

Spring activity has definitely pushed into summer. Last week in Lake Oswego there were 26 New listings, 26 properties that went into Pending status, and 21 Closed sales.  There are currently 214 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 10-16, 2020)

Address List Price # Beds # Baths Total SF Prop Type
126 OSWEGO SMT $195,000 1 1 764 CONDO
4 TOUCHSTONE #82 $260,000 3 2.1 1351 CONDO
25 AQUINAS ST $479,000 3 2 1477 DETACHD
26 Spinosa $495,500 3 2.1 2065 PLNCOMM
2735 GREENTREE RD $579,900 3 2.1 1616 DETACHD
69 CONDOLEA TER $585,000 2 2.1 2262 CONDO
1529 HEMLOCK ST $664,900 4 3 2348 DETACHD
639 2ND ST $665,000 2 2.1 1457 ATTACHD
5834 SEVILLE AVE $679,900 3 2 2056 DETACHD
300 4TH ST $724,900 2 2.1 1731 ATTACHD
16419 LEXINGTON CT $739,000 3 2.1 2409 DETACHD
875 BOCA RATAN DR $749,900 5 3 2502 DETACHD
39 TOUCHSTONE $749,900 4 3 3400 DETACHD
16570 Inverurie RD $829,000 5 4 3218 DETACHD
12730 ADRIAN CT $895,000 4 2.1 2952 DETACHD
19245 MEGLY CT $899,000 5 3 3490 DETACHD
49 HILLSHIRE DR $939,900 4 3.1 4268 DETACHD
15930 TWIN FIR RD $995,000 3 2.1 2620 DETACHD
17215 LOWENBERG TER $995,950 4 2.1 2819 DETACHD
5303 AMBERWOOD CT $999,000 3 2.1 3490 DETACHD
4146 CHAD DR $1,099,900 4 2.1 3637 DETACHD
3343 FIR RIDGE RD $1,100,000 4 3 3430 DETACHD
17522 BRYANT RD $1,399,000 4 4 3545 DETACHD
17677 WESTVIEW DR $1,699,000 5 4.1 5531 DETACHD
18320 RIVER EDGE LN $1,790,000 4 5 4608 DETACHD
2510 WEMBLEY PARK RD $1,895,000 4 3.1 4868 DETACHD

Pending Sales (Aug 10-16, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #15 $160,000 1 1 798 CONDO 23
4 TOUCHSTONE #130 $200,000 2 2 984 CONDO 186
48 EAGLE CREST DR #5E $269,000 2 2 1443 CONDO 29
1224 HEMLOCK ST $400,000 2 1 784 DETACHD 3
1120 BOCA RATAN DR $400,000 3 2 1611 ATTACHD 5
1 PHEASANT RUN $475,000 3 2.1 1780 DETACHD 11
112 TOUCHSTONE TER $520,000 3 2.1 2002 ATTACHD 0
63 AQUINAS ST $539,500 6 3 2892 DETACHD 12
15601 TANAGER DR $619,900 3 2.1 2046 DETACHD 6
5095 OAKRIDGE RD $725,000 4 2 1743 DETACHD 2
4108 ORCHARD WAY $769,000 4 2.1 3010 DETACHD 25
1132 TROON RD $800,000 3 2.1 1585 DETACHD 2
550 MIDDLECREST RD $805,000 2 2.1 2226 DETACHD 4
1953 SUMMIT DR $819,000 4 3 3312 DETACHD 47
2340 OAKHURST LN $849,000 4 2.1 2860 DETACHD 18
17358 BROOKHURST DR $895,000 4 3 3592 DETACHD 2
3903 TEMPEST DR $899,000 4 2.1 2557 DETACHD 4
5224 LOWER DR $925,000 4 3 2571 DETACHD 5
17517 OAK MEADOW LN $949,900 4 2.1 2952 DETACHD 3
18400 DELENKA LN $998,800 5 3.1 5245 DETACHD 27
1471 WOODLAND TER $1,050,000 5 4.1 5733 DETACHD 69
18253 SIENA DR $1,225,000 5 4 4375 DETACHD 63
5337 WASHINGTON CT $1,225,000 4 3 3789 DETACHD 5
14530 UPLANDS DR $1,589,000 5 3.1 4080 DETACHD 174
14722 UPLANDS DR $1,599,000 4 4.1 3831 DETACHD 3
1890 TWIN POINTS RD $2,650,000 4 3.1 4274 DETACHD 335

Sold/Closed (Aug 10-16, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4061 JEFFERSON PKWY $300,000 $281,000 2 2.1 1462 ATTACHD 105
44 AQUINAS ST $550,000 $562,000 4 2 1914 DETACHD 4
13 GROUSE TER $565,000 $574,000 4 2.1 2108 DETACHD 1
6221 NOKOMIS CT $565,000 $585,000 3 2 1870 DETACHD 1
1100 OAK TER $650,000 $610,000 4 2 1518 DETACHD 40
19101 REDWING CT $629,000 $620,000 3 2 1434 DETACHD 5
21 BECKET ST $629,900 $629,000 4 2.1 3070 DETACHD 93
4910 CENTERWOOD ST $650,000 $650,000 4 2.1 2481 DETACHD 0
28 WESTRIDGE DR $724,900 $712,500 4 2.1 2580 DETACHD 25
4004 MELISSA DR $756,000 $740,000 4 2.1 2865 DETACHD 3
1405 CEDAR ST $749,900 $748,930 3 2 2178 DETACHD 4
828 7TH ST $939,000 $785,000 3 4 2418 DETACHD 84
17610 WESTVIEW DR $839,900 $840,000 5 3 2924 DETACHD 2
5996 SUNCREEK DR $995,000 $1,020,000 4 3 3596 DETACHD 2
17690 BLUE HERON RD $1,199,900 $1,150,000 4 3 3869 DETACHD 21
3938 EDENS EDGE DR $1,215,000 $1,184,900 4 3.1 3882 DETACHD 18
714 EVERGREEN RD $1,349,000 $1,282,500 4 3 3464 DETACHD 135
1301 HORSESHOE CURV $1,299,000 $1,350,000 3 2 2260 DETACHD 3
2130 WEMBLEY PL $1,498,000 $1,395,000 4 3.1 3651 DETACHD 442
18218 MEADOWLARK LN $1,599,000 $1,435,000 5 6.1 8320 DETACHD 397
16206 REESE RD $1,625,000 $1,575,000 4 3.1 3631 DETACHD 69

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.

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News & Notes – July 2020 Numbers

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

The Inventory says it all. Well, not maybe all… Just look at the increases over both last month and last year. Pending Sales are up 21.9% over last year/July, and Closed Sales are up 15% over July 2019 as well. Activity was put off in the Spring and is pushing into Summer.

It is currently understood to be a Seller’s Market. There are a large number of multiple-offer transactions for properties that are priced well. That will change as we head into Fall, where Buyers typically have more leverage. It is often a toss-up as to when you make your move as a Seller or a Buyer. Obviously, its good to be a Seller right now, and/but we don’t know where rates are headed, so I wouldn’t wait if I were a Buyer.  At the moment, my trusted Mortgage Advisors tell me: Rates are inching up now, hovering around 3.125%.

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

  • There were 4,236  New Listings in July 2020 which increased 6.8%  from July of 2019’s 3,966, and increased 15.8% over the previous month/June’s 3,658.
  • At 3,391, July 2020’s Closed Sales are up at 15.2% from July 2019’s 2,944, and also up by 25.2% from the previous month/June 2020’s total of 2,709
  • At 3,656, July 2020’s Pending Sales are up 21.9% from July 2019’s 2,998, and increased 0.1% (virtually the same) from the previous month/June 2020’s total of 3,654.
  • The Average Sale Price in July 2020 of $502,300 is up $36,300 from last year/July 2019’s $466,000, and is also up $22,600 from the previous month/June 2020’s $479,700.   YTD increase is 3.7%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in July 2020 of $445,000 rose from last year/July 2019’s $411,600 by $33,400, and is up by $10,000 from the previous month/June 2020’s $435,000.   YTD increase is 4.5%.

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

  • North Portland:  $453,900              4.1%   (June $447,500)
    •                                                     YTD Median: $425,000
  • NE Portland:  $515,100                   2.6%   (June $486,200)
    •                                                     YTD Median: $440,000
  • SE Portland:  $459,500                   3.1%   (June $462,800)
    •                                                     YTD Median: $395,000
  • Gresham/Troutdale:   $393,100     2.0%   (June $383,000)
    •                                                     YTD Median: $364,900
  • Milwaukie/Clackamas:  $487,000  4.0%   (June $479,600 )
    •                                                     YTD Median: $439,900
  • Oregon City/Canby:   $447,300      3.4%   (June $447,300)
    •                                                     YTD Median: $437,000
  • Lake Oswego/West Linn:$830,600  7.1%  (June $721,800)
    •                                                      YTD Median: $620,000
  • West Portland:    $629,500             -0.2%  (June $609,400)
    •                                                     YTD Median: $542,000
  • NW Wash County:  $575,600          2.5%   (June $585,000)
    •                                                      YTD Median: $513,000
  • Beaverton/Aloha:     $416,300       2.6%   (June $417,500)
    •                                                     YTD Median: $410,000
  • Tigard/Wilsonville:   $537,300        4.1%   (June $504,400)
    •                                                      YTD Median: $470,000
  • Hillsboro/Forest Grove: $437,100  5.4%   (June $433,100)
    •                                                      YTD Median: $400,000

LAKE OSWEGO:

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

    •  311 Active Listings (June 315)
    •  242 New Listings     (June 216)
    •  191 Pending Sales   (June 196)
    •  193 Closed Sales       (June 135)
    • Average Sale Price for July: $830,600  (June $721,800)
      • 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.
    •  62 Average Days on the Market   (June 54)

 

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Market Activity ~ Aug 3-9, 2020

Last week in Lake Oswego there were 16 New listings, 35 properties that went into Pending status, and 15 Closed sales.  There are currently 206 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 3-9, 2020)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR $174,999 2 1 932 CONDO
4000 CARMAN DR #E74 $229,900 2 2 836 CONDO
750 1ST STb #E34 $319,900 2 2 1350 CONDO
1120 BOCA RATAN DR $400,000 3 2 1611 ATTACHD
63 AQUINAS ST $539,500 6 3 2892 DETACHD
71 GREENRIDGE CT $549,000 3 2.1 2004 ATTACHD
17950 MEADOWLARK LN $649,000 5 3 2710 DETACHD
320 4TH ST $649,000 2 2.1 1731 ATTACHD
17088 REBECCA LN $650,000 5 3 2558 DETACHD
19457 35TH CT $959,000 4 2.1 3538 DETACHD
5337 WASHINGTON CT $1,225,000 4 3 3789 DETACHD
18002 PILKINGTON RD $1,225,000 4 3 3634 DETACHD
3931 Bass LN $1,385,000 5 4.1 4248 DETACHD
18147 PILKINGTON RD $1,796,000 4 3.1 4636 DETACHD
1099 TERRACE DR $2,495,000 5 4.1 4965 PLNCOMM
910 NORTHSHORE RD $4,595,000 4 6.1 5455 DETACHD

Pending Sales (Aug 3-9, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 Touchstone #146 $224,900 2 2 979 CONDO 88
47 EAGLE CREST DR $249,500 3 2 1026 ATTACHD 64
3864 BOTTICELLI ST $257,500 2 1.1 1132 CONDO 3
1276 HIDE A WAY CT $510,000 3 2 1603 DETACHD 3
12 WALKING WOODS DR $568,000 3 3 2177 DETACHD 3
17175 REBECCA LN $575,000 4 2.1 1833 DETACHD 2
19235 REDWING CT $599,900 4 2 2084 DETACHD 6
19 MORNINGVIEW CIR $629,000 3 2.1 2337 DETACHD 48
38 NORTHVIEW CT $638,900 4 4 3125 ATTACHD 21
4962 HARVARD CT $649,900 4 2.1 2522 DETACHD 52
14825 RAINBOW DR $650,000 4 3.1 2582 DETACHD 12
2811 PARK RD $659,000 4 2.1 2248 DETACHD 4
1953 INDIAN TRL $675,000 3 2 2110 DETACHD 12
5675 VICTORIA CT $699,000 3 2.1 2546 DETACHD 92
7 BECKET ST $749,000 4 3.1 4329 DETACHD 57
1500 EASTVIEW CT $784,999 4 3.1 3872 DETACHD 116
4405 SUNDEW CT $840,000 5 3.1 4535 DETACHD 107
2146 SUMMIT DR $850,000 3 2 2592 DETACHD 3
19263 MEGLY CT $874,000 5 3 3242 DETACHD 66
1511 Pine $879,450 3 2.1 2390 DETACHD 163
885 8TH ST $885,000 3 2 1730 DETACHD 195
6016 CLAIRMONT CT $950,000 3 2.1 3210 DETACHD 9
5677 CHARLES CIR $995,000 4 2.1 2976 DETACHD 5
100 LEONARD ST / Upper $1,079,000 3 2.1 3137 CONDO 21
5156 SW DAWN ST $1,150,000 3 3 2413 DETACHD 16
14414 PFEIFER DR $1,199,000 4 3.1 3744 DETACHD 61
18260 RIVER EDGE CT $1,249,000 4 3.1 4711 DETACHD 63
14190 SUNDELEAF DR $1,424,900 5 4 3688 DETACHD 28
17684 STAFFORD RD $1,499,950 6 4.1 4407 DETACHD 563
12812 ALTO PARK RD $1,500,000 4 3.1 4040 DETACHD 26
883 8th ST $1,699,000 5 4.1 4546 DETACHD 29
768 BERWICK CT $2,098,000 4 3.1 4127 DETACHD 19
1575 COUNTRY CMNS $2,179,000 4 3.1 3951 DETACHD 817
931 ATWATER RD $2,695,000 4 4.1 5059 DETACHD 132
4175 SOUTHSHORE BLVD $3,900,000 4 4.1 6332 DETACHD 1133

Sold/Closed (Aug 3-9, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY #68 $210,000 $214,000 1 1 900 CONDO 12
5064 FOOTHILLS DR #19 $317,000 $317,000 2 2 1252 CONDO 12
16200 PACIFIC HWY #7 $495,000 $487,000 2 2 1190 CONDO 29
1023 HALLINAN ST $495,000 $515,000 3 1.1 1092 DETACHD 4
17721 OVERLOOK CIR $688,000 $637,000 3 2.1 3172 DETACHD 231
14799 UPLANDS DR $724,900 $649,900 4 2 2150 DETACHD 110
17270 CANYON DR $674,900 $668,000 4 3 2754 DETACHD 5
17520 REDFERN AVE $692,000 $675,000 2 2 1776 DETACHD 22
17502 ERIN CT $799,900 $785,000 4 3 3014 DETACHD 13
5267 LAKEVIEW BLVD $979,000 $885,000 4 3.1 3454 DETACHD 118
814 LAKE SHORE RD $1,249,000 $1,241,500 3 2.1 2385 DETACHD 79
18965 Pilkington RD $1,439,000 $1,400,000 4 3 3926 DETACHD 19
4660 UPPER DR $1,895,000 $1,550,000 5 3.1 3898 DETACHD 209
17253 KELOK RD $2,659,000 $2,550,000 5 4.1 4429 DETACHD 7

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.