Author: Linda Rossi

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Market Activity ~ May 25-31, 2020

Last week in Lake Oswego, 11 New properties entered the market, 19 moved to Pending status, and 11 were “Closed”/Sold. We also have 225 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 25-31, 2020)

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #70 $279,950 3 2.1 1351 CONDO
200 BURNHAM RD #304 $329,000 2 2 1305 CONDO
4851 MADRONA ST $585,000 4 2 1500 DETACHD
1601 ASH ST $629,999 3 2 2045 DETACHD
13366 AUBURN CT $689,000 3 2.1 2432 ATTACHD
5950 HARRINGTON AVE $795,000 4 3.1 2867 DETACHD
15119 QUARRY RD $795,000 3 2 2086 DETACHD
1985 COUNTRY CLUB RD $1,050,000 4 4 3630 DETACHD
3131 WEMBLEY PARK RD $1,395,000 4 3.1 3597 DETACHD
4423 WEST BAY RD $2,399,900 4 3.1 2975 DETACHD
1730 NORTHSHORE RD $4,500,000 4 3.1 4173 DETACHD

PENDING SALES (May 25-31, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
35 OSWEGO SMT / Main $235,000 2 2 1212 CONDO 3
4626 LOWER DR / Main $245,000 2 1.1 1260 CONDO 12
3918 CARMAN DR $299,900 2 2.1 1107 CONDO 77
59 TOUCHSTONE $450,000 4 3 2924 DETACHD 4
16229 Lake Forest BLVD $544,900 4 3 2094 DETACHD 26
19232 PILKINGTON RD $599,900 3 2.1 1735 CONDO 250
19200 REDWING CT $599,900 4 3 2128 DETACHD 2
5474 BAY CREEK DR $674,900 4 2.1 2322 DETACHD 3
16251 REESE RD $745,000 3 2.1 2555 DETACHD 21
3778 RIVERS EDGE DR $799,000 4 3.1 3012 DETACHD 4
19681 PERCH CT $849,900 4 3 3307 DETACHD 82
14003 CHELSEA DR $895,000 4 2.1 3270 DETACHD 2
950 CEDAR ST $1,079,900 4 3.1 3266 DETACHD 79
16495 GLENWOOD CT $1,195,000 5 3.1 4533 DETACHD 23
4190 CHAPMAN WAY $1,249,000 3 3.1 3624 DETACHD 67
815 E AVE $1,379,000 3 2.1 2796 DETACHD 3
2260 SUMMIT CT $1,798,000 4 4.1 3797 DETACHD 436
931 ATWATER RD $2,695,000 4 4.1 5059 DETACHD 58
1633 LESLIE LN $2,725,000 5 4.2 5921 DETACHD 15

SOLD (May 25-31, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
1731 ASPEN CT $489,000 $489,000 3 2 1440 DETACHD 6
77 kingsgate RD $529,900 $542,000 3 2.1 1739 DETACHD 3
4900 INDIAN CREEK CT $624,900 $595,000 4 3 2124 DETACHD 33
4257 LORDS LN $600,000 $600,000 4 2 2097 DETACHD 0
1448 CEDAR ST $649,000 $605,000 4 3 2544 DETACHD 244
4007 BASS LN $699,000 $655,000 4 3 2648 DETACHD 14
15569 VILLAGE PARK CT $729,000 $729,000 3 2.1 2850 DETACHD 4
620 1ST ST $750,000 $745,000 3 3.1 1916 ATTACHD 34
259 PINE VALLEY RD $850,000 $775,000 3 2 2010 DETACHD 16
4500 WEST RD $899,000 $899,000 3 2.1 2479 DETACHD 17
1251 FOREST MEADOWS WAY $2,125,000 $1,930,000 3 3.1 5000 DETACHD 0

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 ~ April 2020 Numbers

On this Memorial Day weekend, here is your look at the most recent data for the entire Portland area (April 2020) and how Lake Oswego fits in to this picture just below.

Inventory is up a bit in April, so we’ll see how that plays out in May numbers. As for April overall, this is the first month we’re really seeing the market take a bit of a hit since COVID19. Prices are still holding their own & rising while volume in all aspects of real estate dropped in April: Fewer New Listings, Pending Sales & SOLD’s than both the previous month & last year.  All areas are appreciating, however, save West Portland, and/but those prices have risen a bit in April (by $61,000 over March), so things seem likely to be leveling out there. Lake Oswego also saw an $85,000 Average Sale Price increase, and/but that can happen in an environment with such a wide span of prices from low/mid to upper end.

My trusted Mortgage Advisors tell me: Mortgage Rates are in the low 3’s for good borrowers on Conventional loans as of this writing, and Government loans (VA & FHA) have recently gone as low as 2.875% on good days.

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

  • There were 2,847  New Listings in April 2020 which decreased 32.4%  from April of 2019’s 4,210, and also dropped 17.9% from the previous month/March’s 3,468.
  • At 2,015, April 2020’s Closed Sales are down 16.4% from April 2019’s 2,409, and also down 14.5% from the previous month/March 2020’s total of 2,536
  • At 2,041, April 2020’s Pending Sales are down 34.2% from April 2019’s 3,102, and also fell 13.0% from the previous month/March 2020’s total of 2,347.
  • The Average Sale Price in April 2020 of $477,400 is up $25,300 from last year/April 2019’s $452,100, and is also up $11,900 from the previous month/March 2020’s $465,500.   YTD increase of 4.3%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in April 2020 of $424,000 rose from last year/April 2019’s $405,000 by $19,000, and is almost the same/down by $1,000 from the previous month/March 2020’s $425,000.   YTD increase of 3.9%.

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

  • North Portland:  $448,500              1.9%   (Mar $441,300)
    •                                                     YTD Median: $410,000
  • NE Portland:  $491,200                   4.8%   (Mar $470,500)
    •                                                     YTD Median: $425,000
  • SE Portland:  $449,200                   1.8%   (Mar $442,600)
    •                                                     YTD Median: $385,000
  • Gresham/Troutdale:   $371,900     3.5%   (Mar $355,000)
    •                                                     YTD Median: $358,000
  • Milwaukie/Clackamas:  $457,600  4.3%   (Mar $466,100 )
    •                                                     YTD Median: $430,200
  • Oregon City/Canby:   $445,200      3.7%   (Mar $447,000)
    •                                                     YTD Median: $430,000
  • Lake Oswego/West Linn:$772,500  3.4%  (Mar $687,400)
    •                                                      YTD Median: $599,900
  • West Portland:    $642,000             -0.4%  (Mar $580,400 )
    •                                                     YTD Median: $527,300
  • NW Wash County:  $587,400          0.4%   (Mar $544,200 )
    •                                                      YTD Median: $492,300
  • Beaverton/Aloha:     $431,100       3.8%   (Mar $445,100)
    •                                                     YTD Median: $412,000
  • Tigard/Wilsonville:   $474,600        2.3%   (Mar $487,200 )
    •                                                      YTD Median: $459,500
  • Hillsboro/Forest Grove: $422,100  6.4%   (Mar $406,900)
    •                                                      YTD Median: $391,000

LAKE OSWEGO:

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

    •  340 Active Listings (Mar 305)
    •  149 New Listings     (Mar 183)
    •   81 Pending Sales    (Mar  87)
    •   89 Closed Sales      (Mar 103)
    • Average Sale Price for April: $772,500  (Mar $687,400)
      • 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.
    •  76 Average Days on the Market   (Mar 106)

 

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Market Activity ~ May 11-17, 2020

Last week in Lake Oswego, 23 New properties entered the market, 16 moved to Pending status, and 13 were “Closed”/Sold. We also have 219 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 11-17, 2020)

Address List Price # Beds # Baths Total SF Prop Type
59 OSWEGO SMT $244,900 2 2 1140 CONDO
4626 LOWER DR / Main $245,000 2 1.1 1260 CONDO
4646 LOWER DR / Grnd $275,000 2 2 1260 CONDO
16250 PACIFIC HWY #50 $339,500 2 2 1305 CONDO
4386 THUNDER VISTA LN $399,900 2 2.1 1980 CONDO
27 GREENRIDGE CT $420,000 3 2.1 2140 ATTACHD
12806 SW BOONES FERRY RD $425,000 3 2.1 1174 CONDO
5215 MADRONA ST $479,900 3 2 1325 DETACHD
22 MORNINGVIEW CIR $562,500 3 2.1 3438 DETACHD
2941 SW ORCHARD HILL PL $750,000 5 3.1 3446 DETACHD
4089 MELISSA DR $815,000 4 2.1 2762 DETACHD
553 2ND ST $890,000 2 2.1 1816 CONDO
1766 PALISADES TERRACE DR $930,000 4 2.1 2805 DETACHD
19125 35TH PL $1,175,000 4 4.1 5153 DETACHD
671 5TH ST $1,285,000 4 2.1 2781 DETACHD
16206 REESE RD $1,625,000 4 3.1 3631 DETACHD
3920 UPPER DR $1,690,000 4 3.1 3800 DETACHD
18099 GREEN BLUFF DR $1,695,000 4 3.1 5343 DETACHD
129 FURNACE ST / Upper $1,995,000 4 4.1 4911 CONDO
19491 Lorna LN $2,195,000 4 4.1 4343 DETACHD
19494 SW LORNA LN $2,499,000 5 3.1 4830 DETACHD
1633 LESLIE LN $2,725,000 5 4.2 5921 DETACHD
13490 FIELDING RD $3,398,000 5 6.1 8286 DETACHD

PENDING SALES (May 11-17, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
9 OSWEGO SMT $175,000 1 1 764 CONDO 181
47 OSWEGO SMT $249,900 2 2 1212 CONDO 28
4455 THUNDER VISTA LN $330,000 2 2.1 2002 CONDO 5
19 BLOCH TER $420,000 2 2 1527 ATTACHD 73
16675 BONAIRE AVE $439,000 3 1 1020 DETACHD 40
1042 YATES ST $469,900 3 1.1 1100 DETACHD 4
100 KINGSGATE RD $515,000 3 2.1 1960 DETACHD 5
16824 SW Inverurie RD $565,000 3 3 1945 DETACHD 1
3721 TEMPEST DR $600,000 4 2.1 2572 DETACHD 46
6438 Frost ST $625,000 4 2.1 2269 DETACHD 39
184 D AVE $647,000 3 2.1 1636 ATTACHD 37
2535 GLENMORRIE DR $899,900 4 4 3134 DETACHD 87
5680 LA MESA CT $975,000 5 3.1 3405 DETACHD 3
475 IRON MOUNTAIN BLVD $1,379,000 4 2.2 3254 DETACHD 2
16895 CHAPIN WAY $1,439,000 4 3.2 5182 DETACHD 304
12822 ALTO PARK RD $1,495,000 4 4.1 3426 DETACHD 91

SOLD (May 11-17, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
5053 FOOTHILLS DR #A $329,900 $299,000 3 2 1252 CONDO 78
18540 SW KRISTI WAY $424,900 $424,000 3 1.1 1277 DETACHD 26
16910 TRACY AVE $450,000 $450,000 3 2 1176 DETACHD 2
19230 SW REDWING CT $455,000 $474,000 4 2.1 1842 DETACHD 62
1001 HALLINAN ST $569,000 $508,000 4 2 2580 DETACHD 30
100 LEONARD ST $569,000 $530,000 3 2 1736 CONDO 188
5511 ROYAL OAKS DR $575,000 $603,189 3 2 1898 DETACHD 6
16212 SW KIMBALL ST $599,000 $616,000 4 2.1 1844 DETACHD 4
2103 RIDGEWOOD RD $664,900 $656,000 4 2 1650 DETACHD 83
18679 INDIAN CREEK DR $659,428 $659,428 4 2.1 2292 DETACHD 2
4092 COLTSFOOT LN $750,000 $721,500 4 3 2405 DETACHD 3
4799 LAMONT WAY $925,000 $925,000 3 2.1 3142 DETACHD 1
5745 Washington CT $1,149,000 $1,035,000 4 3.1 2841 DETACHD

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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Why You Buy a House

There are lots of great reasons to buy a home.

The reasons you’ll usually hear are practical and financial ones like:

  • Appreciation (grow your nest egg/investment)
  • Mortgage Interest and Property Tax Deductions (especially where it makes sense on a higher-end/jumbo loan home)
  • Exclusion from Capital Gains
  • Prices are Attractive/Bending toward Buyer’s benefit
  • Mortgage Rates are Low

These are all very good reasons!  But, as I read recently, if financial considerations were the only motivator, we’d all “Buy Low/Sell High” every single time.  We don’t do that.  I mean, sometimes the circumstances are just right for us to do that & that’s fabulous! But mostly people buy homes for the following reasons:

  • Family is growing/need more space
  • Just want a nicer house
  • Renting now & tired of contributing to landlord’s equity w/no personal gain
  • Be closer to work, work location changed, etc
  • Get child into a desired school or district
  • Move out of a condo to have more control over property
  • Move into a condo to have less responsibility for maintenance
  • Downsizing
  • Want to be closer to shops/restaurants/services
  • Want to be farther away from the hubbub of activity and traffic

So… all of these reasons revolve around making your Life better. That’s why I always say I help people change their lives through buying or selling real estate. Its just what its all about ; )

 

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Market Activity ~ Apr 27-May 3, 2020

Things are really holding very steady. Last week in Lake Oswego, 10 New properties entered the market, 18 moved to Pending status, and 10 were “Closed”/Sold. We also have 217 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (April 27-May 3, 2020)

Address List Price # Beds # Baths Total SF Prop Type
6073 HARRINGTON AVE $448,000 2 1 1050 DETACHD
16229 Lake Forest BLVD $549,900 4 3 2094 DETACHD
14183 TAYLORS CREST LN $796,000 4 2.1 3551 DETACHD
16495 GLENWOOD CT $1,195,000 5 3.1 4533 DETACHD
3125 ALBER SPRING CT $1,198,000 4 3.1 4308 DETACHD
1225 LAKE GARDEN CT $1,295,000 4 3.2 3558 DETACHD
16364 IVY LN $1,595,950 5 3.1 4862 DETACHD
16621 GRAEF CIR $1,700,000 2 3.1 2506 DETACHD
14005 GOODALL RD $1,800,000 4 3.1 4809 DETACHD
3358 LAKEVIEW BLVD $4,485,000 5 4 5133 DETACHD

PENDING SALES (April 27-May 3, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
3956 CARMAN DR $299,990 2 2.1 1107 CONDO 63
12888 BOONES FERRY RD $415,000 2 2.1 1182 CONDO 44
15 SUMMIT RIDGE CT $419,960 2 2.1 1750 ATTACHD 42
1485 GREENTREE CIR $565,000 4 3.1 2440 DETACHD 3
19026 ARROWWOOD AVE $572,000 3 2 1850 DETACHD 3
4900 INDIAN CREEK CT $599,900 4 3 2124 DETACHD 33
16885 SW Denney CT $600,000 3 2 1712 DETACHD 26
4007 BASS LN $699,000 4 3 2648 DETACHD 14
620 1ST ST $750,000 3 3.1 1916 ATTACHD 34
4208 ALBERT CIR $790,000 5 3 2777 DETACHD 11
2152 WEMBLEY PL $799,000 4 3 2854 DETACHD 2
960 BULLOCK ST $849,900 3 2 3062 DETACHD 11
3996 TEMPEST DR $849,900 4 2.2 3397 DETACHD 5
5015 DENTON DR $950,000 4 2.1 3131 DETACHD 32
1666 LAKE FRONT RD $1,375,000 4 3 3312 DETACHD 54
718 3RD ST $1,590,000 4 2 3759 DETACHD 1
1646 LESLIE LN $1,868,000 4 4.1 4879 DETACHD 28
18404 OLD RIVER LNDG $2,098,000 4 4 4295 DETACHD 17

SOLD (April 27-May 3, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
66 GALEN ST / Upper $179,900 $175,400 1 1 690 CONDO 39
15490 BRIANNE CT $329,900 $329,900 2 2.1 1250 ATTACHD 5
102 GREENRIDGE CT $424,000 $424,000 3 2.1 2004 ATTACHD 197
731 CLARA CT $629,000 $629,000 4 2.1 2700 DETACHD 1
4595 HASTINGS PL $703,000 $695,000 4 2.1 2178 DETACHD 3
700 PEBBLE BEACH CT $850,000 $870,000 4 2 2527 DETACHD 2
5331 W SUNSET DR $960,500 $925,000 3 3.1 3606 DETACHD 137
2397 HILLSIDE LN $925,000 $925,000 5 3 3158 DETACHD 0
17084 CANAL CIR $1,850,000 $1,685,000 5 3.1 5104 DETACHD 68
1350 Andrews RD $2,150,000 $1,800,000 3 3.1 3377 DETACHD 530

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 ~ March 2020 Numbers

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

Inventory remains low and so basically, we have a housing shortage going on right now. Mortgage Rates are at 3.3% as of this writing. For the most part, Portland Real Estate is holding steady with prices improving and New Listings and Closed Sales, for instance up right around 25% from last month along with  Areas in & around Gresham, Oregon City, Milwaukie/Clackamas, & Hillsboro, are still the strongest as far as Appreciation goes.

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

  • There were 3,468  New Listings in March 2020 which decreased 1.0%  from March of 2019’s 3,504, and also increased significantly- up 25% from the previous month/February’s 2,759.
  • At 2,536, March 2020’s Closed Sales rose 7.9% over March 2019’s 2,183, but are up a whopping 24.2% from the previous month/February 2020’s total of 1,897.
  • At 2,347, March 2020’s Pending Sales are down 14.3% from March 2019’s 2,738, and also fell 9.7% from the previous month/February 2020’s total of 2,598.
  • The Average Sale Price in March 2020 of $465,500 is up $17,600 from last year/March 2019’s $447,900, and also up $7,600 from the previous month/February 2020’s $457,900.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in March 2020 of $425,000 rose from last year/March 2019’s $399,000 by $26,000, and is also up $18,000 from the previous month/February 2020’s $407,000.   

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

  • North Portland:  $441,300              1.3%   (Feb $407,900)
    •                                                     YTD Median: $405,000
  • NE Portland:  $470,500                   3.3%   (Feb $482,200)
    •                                                     YTD Median: $420,000
  • SE Portland:  $442,600                   1.1%   (Feb $424,700)
    •                                                     YTD Median: $380,000
  • Gresham/Troutdale:   $355,000     4.7%   (Feb $376,600)
    •                                                     YTD Median: $356,000
  • Milwaukie/Clackamas:  $466,100  4.9%   (Feb $443,700 )
    •                                                     YTD Median: $425,000
  • Oregon City/Canby:   $447,000      3.8%   (Feb $448,600)
    •                                                     YTD Median: $430,000
  • Lake Oswego/West Linn:$687,400  2.7%  (Feb $705,100)
    •                                                      YTD Median: $586,000
  • West Portland:    $580,400             -1.5%  (Feb $581,600 )
    •                                                     YTD Median: $512,000
  • NW Wash County:  $544,200          0.1%   (Feb $510,400)
    •                                                      YTD Median: $475,000
  • Beaverton/Aloha:     $445,100       3.0%   (Feb $412,800)
    •                                                     YTD Median: $410,000
  • Tigard/Wilsonville:   $487,200        1.7%   (Feb $485,600)
    •                                                      YTD Median: $460,000
  • Hillsboro/Forest Grove: $406,900  5.8%   (Feb $414,200)
    •                                                      YTD Median: $391,000

LAKE OSWEGO:

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

    •  305 Active Listings (Feb 226)
    •  183 New Listings     (Feb 151)
    •   87 Pending Sales    (Feb 119)
    •  103 Closed Sales      (Feb  72)
    • Average Sale Price for February: $687,400  (Feb $705,100)
      • 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.
    •  106 Average Days on the Market   (Feb 86)

 

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Market Activity ~ April 13-19, 2020

Last week in Lake Oswego, 13 New properties entered the market, 8 moved to Pending status, and 14 were “Closed”/Sold. We also have 211 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (April 13-19, 2020)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWY#3 $210,000 2 2 823 CONDO
47 OSWEGO SMT / Main $249,900 2 2 1212 CONDO
45 EAGLE CREST DR #401 $285,000 3 2 1348 CONDO
4340 BOTTICELLI ST $399,999 3 3.1 2285 CONDO
17200 ROBB PL $610,000 3 2.1 2206 DETACHD
4007 BASS LN $699,000 4 3 2648 DETACHD
19 MONTICELLO DR $729,988 6 3 3537 DETACHD
10 BUCKINGHAM TER $759,900 4 3 3763 DETACHD
4208 ALBERT CIR $790,000 5 3 2777 DETACHD
960 BULLOCK ST $849,900 3 2 3062 DETACHD
4405 SUNDEW CT $850,000 5 3.1 4535 DETACHD
800 TERRACE DR $1,559,000 5 4.1 5359 DETACHD
18008 GREENBLUFF DR $1,849,000 3 3.1 4402 DETACHD

PENDING SALES (April 13-19, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #94 $145,900 3 2.1 1351 CONDO 198
18357 HEATHER ANN CT $560,000 3 2 1832 DETACHD 1
16212 SW KIMBALL ST $599,000 4 2.1 1844 DETACHD 4
1448 CEDAR ST $615,000 4 3 2544 DETACHD 244
2103 RIDGEWOOD RD $660,000 4 2 1650 DETACHD 83
4092 COLTSFOOT LN $750,000 4 3 2405 DETACHD 3
5745 Washington CT $1,149,000 4 3.1 2841 DETACHD
1350 Andrews RD $2,150,000 3 3.1 3377 DETACHD 530

SOLD (April 13-19, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
6207 HARRINGTON AVE $389,000 $389,500 3 1 960 DETACHD 11
15003 TWIN FIR RD $492,000 $470,000 2 1 984 DETACHD 88
1611 LEE ST $589,900 $599,900 3 2.1 2539 DETACHD 58
3745 DIVISION CT $599,900 $615,000 3 2 1390 DETACHD 3
1640 WOODLAND TER $619,900 $627,500 4 3 2398 DETACHD 6
1 PREAKNESS CT $645,000 $635,000 4 3 2373 DETACHD 6
17200 CANAL CIR $665,000 $665,000 3 1.1 1774 DETACHD 6
1925 MAPLELEAF CT $750,000 $750,000 4 2.1 2096 DETACHD 0
22 DOVER WAY $900,000 $900,000 4 2.1 3335 DETACHD 0
533 WEIDMAN CT $992,500 $980,000 5 3.1 4092 DETACHD 122
1259 LAKE GARDEN CT $1,099,000 $997,750 4 3 2263 DETACHD 0
13845 AMBERWOOD CIR $1,089,000 $1,100,000 4 3 3283 DETACHD 3
17614 BLUE HERON RD $1,239,000 $1,239,000 4 3 3320 DETACHD 2
467 9TH ST $1,385,000 $1,285,000 3 2.1 2979 DETACHD 54

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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What Renewal Looks Like in 2020

Rod Long

As we all slow down a bit, most of us celebrate renewal this time of year with Easter, Passover or other traditions.  As I was out showing properties today, I was noticing the way we really are all in this together. Standing six feel apart with our masks on, I slowly and carefully remove the keys from the lockbox with a sanitizing wipe and move through all the precautions we are taking nowadays… fresh booties at each house, gloves, more wipes, hand sanitizer… We carefully tiptoe into people’s homes pondering if this one might be “the one”, careful to respect the human life that inhabits each home and leaving everything untouched and “safe” for those who follow behind or return home. We are all slowed down together.  Still moving forward with our various dreams and plans… just a little slower and a bit more thoughtfully. Considering each other slightly more seriously. Considering ourselves. It is a very sweet realization amid the madness… to see and to help the dreams unfold, and again to notice the truth of the fact that we really are all in this together.

How poignant the holiday of renewal at this moment in time.

May each of our dear Property Blotter readers be safe & healthy, and may your dreams stay intact and your plans proceed unhindered. My hope is that we all emerge with a renewed & lasting appreciation for each other and our unique yet intertwined lives in the years ahead.

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Market Activity ~ March 30-April 5, 2020

I thought I’d look at the same approx week last year and see what the stats looked like. Here is the summary:  “Last week 29 New properties entered the market, 16 moved to Pending status, and 15 were “Closed”/Sold. There are a total of 237 homes for sale in Lake Oswego right now.”

THIS year/Last week in Lake Oswego, 15 New properties entered the market, 7 moved to Pending status, and 11 were “Closed”/Sold. We also have 211 homes for sale here, right now.

What this tells me is that people were slowed-down on making Offers last week, but properties are still hitting the market, inventory is about the same albeit a little under last year, and the number of sales is pretty close to what it was a year ago. Basically… I get the feeling that people are rightly spooked about the health crisis, but are taking extreme precautions and at the same time not letting that stop them from carrying on with their dreams inasmuch as selling or buying is the vehicle to that dream.

Dianne and I are here for virtual consulting appointments if you’ve been thinking about exploring a life change adventure in Lake Oswego! Interest rates are looking really good, and there are lots of properties out there.

We’re all going to come out on the other side of this if we’re staying safe and moving carefully… step by step. We can help.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 30-April 5, 2020)

Address List Price # Beds # Baths Total SF Prop Type
16250 PACIFIC HWY #80 $239,000 1 1 841 CONDO
4324 BOTTICELLI ST $359,000 2 2.1 2260 CONDO
6050 FERNBROOK ST $434,900 4 2 1546 DETACHD
16675 BONAIRE AVE $450,000 3 1 1020 DETACHD
16885 SW Denney CT $625,000 3 2 1712 DETACHD
6438 Frost ST $625,000 4 2.1 2269 DETACHD
4262 COBB WAY $629,950 3 2 1618 DETACHD
184 D AVE $665,000 3 2.1 1636 ATTACHD
13841 VERTE CT $699,900 5 3 2341 DETACHD
10 OTHELLO ST $825,000 5 3 3600 DETACHD
5623 BAY CREEK DR $845,000 5 2.1 3042 DETACHD
5015 DENTON DR $950,000 3 2.1 3131 DETACHD
1103 C AVE $1,639,000 4 3.1 3530 DETACHD
1646 LESLIE LN $1,868,000 4 4.1 4879 DETACHD
931 ATWATER RD $2,695,000 4 4.1 5059 DETACHD

PENDING SALES (March 30-April 5, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
1664 BONNIEBRAE DR/Grnd $359,000 3 1.1 1303 CONDO 1
16910 TRACY AVE $450,000 3 2 1176 DETACHD 2
1285 Oak TER $600,000 3 2 1421 DETACHD 23
3721 TEMPEST DR $615,000 4 2.1 2572 DETACHD 4
4799 LAMONT WAY $925,000 3 2.1 3142 DETACHD 1
8 DOVER WAY $1,299,000 6 4.2 6093 DETACHD 130
17084 CANAL CIR $1,850,000 5 3.1 5104 DETACHD 68

SOLD (March 30-April 5, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
18660 DON LEE WAY $450,000 $440,000 3 1 966 DETACHD 0
5135 Tualata LN $525,000 $535,000 4 2 1534 DETACHD 4
17721 Arbor LN $589,900 $589,900 3 2 1521 DETACHD 2
15213 CANDLEWOOD CT $700,000 $685,000 4 2.1 2670 DETACHD 13
17896 KELOK RD $859,000 $792,500 6 6 4093 DETACHD 212
1317 LAUREL ST $899,900 $899,900 4 2.1 2259 DETACHD 6
4070 VIRGINIA WAY $915,000 $940,000 3 2.1 3501 DETACHD 2
17525 CHERRY CT $119,900 $1,080,000 5 3.1 4559 DETACHD 311
401 9TH ST $1,299,000 $1,299,000 4 3.1 4288 DETACHD 21
12812 GOODALL RD $1,895,000 $1,760,000 4 4.1 4808 DETACHD 283
2493 SOUTHSHORE BLVD $3,599,000 $2,947,000 5 5.1 7112 DETACHD 311

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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Real Estate in the Time of COVID

Dear Property Blotter Readers,

Dianne and I are thinking of you during this challenging moment & wishing health and peace to you and yours. I hope this is a time of staying at home with your loved ones & enjoying some things you usually don’t get to enjoy.

I’m told by my trusted Mortgage Advisors that mortgage interest rates are supposed to dip to 3-ish again shortly as that zero interest rate flushes out the crush that happened a few weeks ago when they went down that low (the saturation pushed them back up to 4-ish for a time). Sales are actually moving along really well in Lake Oswego and the overall Portland area right now (see Market Report). Prices are lowering in some cases and being pushed up in others with multiple offers. In other words- the usual, and right now we have 182 Active Properties for sale in Lake Oswego, with 87 currently Pending and 22 Sold/Closed last week. 22 of those Active Properties went on the market just last week.

The other day RMLS removed the Open House section from the site. Some Agents will still choose to have them and be very careful, but most are not doing so out of an appropriate abundance of caution, for now. Everyone is being extremely careful with sanitizing everything and following Seller guidelines for private in-person showings. Buyers are demonstrating a bit more discernment up front & are seeing only properties they’ve decided are on their “serious” list, which cuts down on any potential exposure for everyone as we all do our part. Typically hand-sanitizer is out, booties are used for shoes, Buyers are advised not to touch anything (for them and for the Seller) and Agents will generally wipe the lockbox, door handles, switches etc. Buyers are encouraged to bring their own wipes & sanitizer with them and to wear gloves and/or masks as warranted either by Seller instruction or their own sensibilities. Some Sellers will want their own Agent at showings to observe that nothing is touched in the home so that their Seller can return home with their mind at ease, and/but either way, Agents are doing their utmost to ensure safe protocols are followed.

As for promoting Listings, there are, of course, cool tools that can and are being promoted more liberally like Virtual Open Houses, Video Walk-Through’s and other things. Ask me if you’re interested in learning more about that.

In general, we all are in this together, and the camaraderie at-a-distance and diligence in every sector of the real estate community is truly impressive ~ People helping people fulfill their life-goals and stay safe & healthy in the process.

Please take care and do get in touch with me or with Dianne if you have a life-goal you don’t really want to put off ; ) We can make it happen, efficiently and safely.

Be Well~
Linda