Author: Linda Rossi

I’m tellin ya… This market is hot! And there are some great homes out there.

Here are the latest/February numbers for the entire Portland area:

According to the RMLS Market Action Report for the Portland Metro Area, February, 2016:

• There were 2,896 New Listings in February which was up 15% from January (2,519), and rose over February of 2015 (2,884) slightly, by 0.4%.
• At 1,813, February Closed Sales fell 2.5% from January’s 1,859, and/but were up 10% from February of 2015’s 1,648.
• February Pending Sales (Accepted Offers), at 2,786 were up 24.2% from January’s 2,243, and were 9.9% ahead of February of 2015’s 2,534 total.   ***This was the strongest February for Accepted Offers since 2007!
• The Average Sale Price in February of $364,900 was up significantly from January’s $355,500, and also up almost $37,000 from February of 2015’s $328,000. (!!!)

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The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of February 2016 reported:

•  260 Active Listings  (Jan was 243)
•  185 New Listings   (Jan was 150 )
•  147 Pending Sales    (Jan was 120)
•  99 Closed Sales   (Jan was 81)
• Average Sale Price for February: $577,500 (Jan/$498,000. )
  • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
• Average Time on the Market: 92 Days (Dec was 78)

We saw 15 New properties enter the Lake Oswego market, 15 move to Pending status, and 11 “Closed”/Sold.

***Notice that most of the Pendings and half of the Sold’s were on the market for just 3-7 days.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Mar 21-27, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
47 EAGLE CREST DR #11	$159,900	2	1	932	CONDO
16250 PACIFIC HWY #74	$274,800	2	2	1324	CONDO
4131 OLD GATE RD	$369,950	4	2	1776	DETACHD
5215 MADRONA ST	$389,000	3	2	1305	DETACHD
2 EAGLE CREST DR	$395,000	3	2	1830	DETACHD
5153 JEAN RD	$524,900	8	3	2400	DETACHD
15 MASARYK ST	$548,000	4	3	3864	DETACHD
937 OAK ST	$595,000	3	3	3080	DETACHD
5632 GRAND OAKS DR	$765,000	4	2.1	2898	DETACHD
4121 Childs RD	$815,000	4	3.1	3352	DETACHD
4745 LAMONT WAY	$975,000	4	3	3192	DETACHD
950 SCHUKART LN	$1,098,000	4	2.1	3530	DETACHD
13079 AMBER PL	$1,188,000	5	3	3200	DETACHD
3555 LAKE GROVE AVE	$1,199,000	4	2.1	3324	DETACHD
1961 Cheryl CT	$1,375,000	5	4.1	5124	DETACHD

PENDING SALES (Mar 21-27, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
16250 PACIFIC HWY #72	$249,000	2	2	1305	CONDO	5
5100 UPPER DR	$334,900	1	1	956	DETACHD	83
6343 HIAWATHA CT	$375,000	3	1	1056	DETACHD	3
3365 UPPER DR	$399,900	2	2	1378	DETACHD	4
18922 KRISTI WAY	$415,000	2	2	1397	DETACHD	4
16773 ALDER CIR	$485,000	4	2	2590	DETACHD	3
4573 OAKRIDGE RD	$489,000	3	2.1	1835	ATTACHD	3
2757 GLEN HAVEN RD	$519,000	3	2	2420	DETACHD	20
4 CAMELOT CT	$640,000	5	3	3344	DETACHD	5
13963 WESTCOTT CT	$649,000	4	2.1	2984	DETACHD	7
17743 MARYLCREEK DR	$760,000	4	2.1	3288	DETACHD	52
14626 UPLANDS DR	$934,900	4	3	2951	DETACHD	4
4367 HAVEN ST	$1,070,000	5	3.1	3617	DETACHD	7
531 7TH ST	$1,099,000	3	2.1	2818	DETACHD	135
4018 COHO LN	$1,199,000	4	4.1	5128	DETACHD	47

SOLD (Mar 21-27, 2016)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
48 EAGLE CREST DR #2D	$185,000	$165,000	3	2	1623	CONDO	125
238 RIDGEWAY RD #16C	$210,000	$220,000	2	1	914	CONDO	2
1755 KILKENNY RD	$280,000	$303,000	3	1	1742	DETACHD	146
69 CONDOLEA TER	$379,000	$385,000	2	2.1	2157	CONDO	3
16309 LAKE FOREST BLVD	$369,900	$386,000	3	2	1608	DETACHD	120
5402 CARMAN DR	$400,000	$400,000	3	1	1699	DETACHD	214
1273 ROCKINGHORSE LN	$575,000	$530,000	3	2.1	2192	DETACHD	154
1430 LARCH ST	$529,000	$532,000	3	3	2279	DETACHD	48
40 DA VINCI ST	$535,000	$550,000	4	2.1	2476	DETACHD	3
2979 RIVENDELL RD	$689,900	$680,862	4	2.1	2729	DETACHD	3
17 EL GRECO ST	$694,900	$681,250	5	2.1	3060	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.

A wide spectrum of New Listings hit the market last week. We saw 19 New properties, 17 move to Pending status, and 12 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Feb 29-Mar 6, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
4000 CARMAN DR #88	$169,000	2	2	836	CONDO
200 BURNHAM RD #102	$199,900	1	1	733	CONDO
1680 PINE ST	$419,000	3	3	2472	DETACHD
2757 GLEN HAVEN RD	$519,000	4	2	2420	DETACHD
5850 BONITA RD	$527,500	3	2	1272	DETACHD
2500 PARK RD	$569,000	3	2.1	1811	DETACHD
5887 SW LANGFORD LN	$629,950	4	2.1	2724	DETACHD
16652 WOODSMAN CT	$779,000	3	2.1	3196	DETACHD
19330 RIVER RUN DR	$799,000	4	4	3786	DETACHD
5876 RIDGETOP CT	$819,000	4	2.1	3280	DETACHD
2479 MARYLVIEW CT	$829,000	4	3.1	3832	DETACHD
621 COUNTRY CLUB RD	$875,000	4	2.1	3385	DETACHD
17193 LOWENBERG TER	$889,900	4	2.1	2973	DETACHD
1269 LAKE GARDEN CT	$899,000	4	2.1	2056	DETACHD
2809 ARROWHEAD CT	$1,560,000	3	3	2624	DETACHD
1099 TERRACE DR	$2,150,000	5	4.1	4965	DETACHD
16852 ALDER CIR	$2,185,000	4	3.1	3192	DETACHD

PENDING SALES (Feb 29-Mar 6, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
69 CONDOLEA TER Grnd	$379,000	2	2.1	2157	CONDO	3
4725 JEAN RD	$385,000	4	2	1433	DETACHD	65
125 MIDDLECREST RD	$399,900	3	1	800	DETACHD	23
4851 MADRONA ST	$449,900	4	2	1500	DETACHD	6
142 DEL PRADO ST	$475,000	4	3	1950	DETACHD	38
14584 RAINBOW DR	$545,000	4	3	2570	DETACHD	12
4782 AUBURN LN	$569,000	3	3.1	2650	ATTACHD	2
5 WESTMINSTER DR	$579,000	5	3	3104	DETACHD	14
16636 MAPLE CIR	$600,000	4	2	2030	DETACHD	1
12844 SIERRA VISTA DR	$610,000	4	2.1	2501	DETACHD	2
29 SPINOSA	$625,000	3	2.2	3262	DETACHD	4
4208 ALBERT CIR	$649,900	5	3	2777	DETACHD	18
17183 CARLSON CT	$665,000	4	3.1	3366	DETACHD	15
4657 DOGWOOD DR	$889,000	4	4	3890	DETACHD	19
18711 WESTVIEW DR	$995,000	4	3.1	3591	DETACHD	23
822 6TH ST	$1,099,900	3	3	2748	DETACHD	194
1355 Country Commons	$1,995,000	4	3.1	4238	DETACHD	198

SOLD (Feb 29-Mar 6, 2016)

Address	O/Price	Close Price	# Beds	# Baths	Total SF	Prop Type	CDOM
4333 WOODSIDE CIR	$349,000	$349,000	3	2	1532	ATTACHD	69
6 THE GROTTO	$375,000	$375,000	3	2	1381	DETACHD	14
16060 PEARCY ST	$538,000	$538,000	3	3.1	2101	DETACHD	4
17765 TREETOP LN	$598,000	$570,000	4	3	3046	DETACHD	42
16510 Maple CIR	$590,000	$570,000	5	3	2808	DETACHD	4
19285 MEGLY CT	$674,900	$645,000	5	3	3275	DETACHD	46
104 GARIBALDI ST	$799,000	$671,880	3	2.1	3074	DETACHD	272
16987 Alder CIR	$839,000	$720,000	3	2.1	1989	DETACHD	266
5371 SOUTHWOOD DR	$724,900	$735,000	3	3	2751	DETACHD	9
17446 BRYANT RD	$925,000	$925,000	4	4	3506	DETACHD	13
4150 UPPER DR	$1,050,000	$1,050,000	4	3.1	3465	DETACHD	1
15825 OSWEGO SHORE CT	$1,999,900	$1,875,000	3	3.1	4317	DETACHD	146

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.

First numbers for 2016!!! Yeah!!!

Here are the January numbers for the entire Portland area (including Lake Oswego).

According to the RMLS Market Action Report for the Portland Metro Area, January, 2016:

• There were 2,519 New Listings in January which was up 63.8% from December (1,538), and 8.8% under January of 2015 (2,762).
• At 1,859, January Closed Sales fell 31.4% from December’s 2,710, and/but were up  25.9% from January of 2015’s 1,477.               ***It was still the strongest January since 1992.
• January Pending Sales (accepted offers), at 2,243 were up 15.9% from December’s 1,936, and were 2.8% under January of 2015’s 2,294 total.
•  The Average Sale Price in January of $355,500 was down some from December’s end-of-year frenzy/$367,600, and also up approx $26,000 from January of 2015’s $329,400. 

The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of January 2016 reported:

•  243 Active Listings  (Dec was 255)
•  150 New Listings   (Dec was 86 )
•  120 Pending Sales    (Dec was 98)
•  81 Closed Sales   (Dec was 143)
• Average Sale Price for January of $498,000 (Dec/$567,300. )
  • 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.
• Average Time on the Market: 78 Days (Dec was 81)

It is that time of year; the time where people who’ve taken their homes off the market during holiday season etc decide to put them back on or at least change their ML#’s to “refresh” the Listings for the new year. While this is a common practice, and is a useful strategy for Sellers to consider, it is not as helpful to our Property Blotter readers who are looking for new properties entering the market. So… we do the sorting work for you and remove those that have been refreshed in this manner. For this cycle, out of 13 that appeared to be New, we show 4 actually New in Lake Oswego.  (Yes, Inventory is still quite low. Overall Portland Area Inventory as of Dec 31st was 1.2 months…)

During the period of January 18-24, 2016 (last week) in Lake Oswego, we saw 4 New properties enter the market, 19 move to Pending status, and 9 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Jan 18-24, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
59 GREENRIDGE CT	$369,000	3	2.1	2004	ATTACHD
142 DEL PRADO ST	$495,000	4	3	1950	DETACHD
14 DOVER WAY	$1,099,000	5	3.1	4593	DETACHD
12975 SW ELK ROCK RD	$1,500,000	5	3.1	3878	DETACHD

PENDING SALES (Jan 18-24, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
44 EAGLE CREST DR	$150,000	2	1	908	CONDO	3
48 EAGLE CREST DR #5E	$205,000	2	2	1443	CONDO	16
3968 CARMAN DR	$239,900	2	2.1	1129	CONDO	5
1248 OAK ST	$310,000	2	1	900	DETACHD	69
668 MCVEY AVE #57	$340,000	3	1.1	985	CONDO	142
6 THE GROTTO	$375,000	3	2	1381	DETACHD	14
5329 CHARLETON CT	$379,900	3	2	1120	DETACHD	8
18088 BELMORE AVE	$405,000	3	1.1	1304	DETACHD	10
3759 LANEWOOD ST	$419,000	3	2.1	1783	DETACHD	4
6286 HARRINGTON AVE	$449,999	3	2	3219	DETACHD	249
13160 PETERS RD	$460,000	3	2.1	1946	DETACHD	11
490 G AVE	$499,000	5	2	2126	DETACHD	7
136 D AVE	$575,000	2	2.1	1741	ATTACHD	9
524 WEIDMAN CT	$669,000	4	2.1	3450	DETACHD	13
15837 ALLISON PL	$679,000	4	2.1	3534	DETACHD	125
5371 SOUTHWOOD DR	$724,900	3	3	2751	DETACHD	3
5646 GRAND OAKS DR	$729,000	3	2.1	3388	DETACHD	33
5355 ROSALIA WAY	$925,000	4	3.1	3764	DETACHD	1
3487 LAKE GROVE AVE	$1,050,000	4	3.1	3473	DETACHD	6

SOLD  (Jan 18-24, 2016)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
4000 CARMAN DR #12	$158,500	$158,500	2	2	866	CONDO	23
4 MOUNTAIN CIR	$305,000	$303,000	2	1.1	1598	CONDO	23
1857 BOCA RATAN DR	$330,000	$330,000	3	2	1611	ATTACHD	0
17422 BLUE HERON RD	$399,900	$400,000	3	2	1954	DETACHD	94
225 HIDALGO ST	$499,900	$492,500	4	2.1	2299	DETACHD	21
16717 SYLVAN CT	$749,999	$680,000	4	3.1	4949	DETACHD	176
17154 LOWENBERG TER	$799,960	$800,000	5	3.1	3514	DETACHD	65
806 6TH ST	$1,109,900	$1,075,000	4	2.1	2730	DETACHD	123
17096 CHAPIN WAY	$1,445,000	$1,495,000	4	5	4395	DETACHD	128

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.

As the year draws to a close and the holidays are in full swing, we here at the Property Blotter have had our hands full serving our clients AND spending time with our families : )  We hope this has been a similarly busy and Joyous time for our loyal readers!

This Market Activity Report reflects the last two weeks of activity here in Lake Oswego.

Dec 14-27 in Lake Oswego we saw 10 New properties enter the market, 22 move to Pending status, and 34 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Dec 14-27, 2015)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
15938 QUARRY RD #3A	$169,900	2	1	988	CONDO
668 MCVEY AVE #42	$260,000	2	1	836	CONDO
1775 KILKENNY RD	$484,900	4	2	2560	DETACHD
1430 LARCH ST	$529,000	3	3	2279	DETACHD
2 CREEKSIDE TER	$549,900	5	2.1	2906	DETACHD
5646 GRAND OAKS DR	$729,000	3	2.1	3388	DETACHD
1317 LAUREL ST	$735,000	3	2.1	2259	DETACHD
5330 LOWER DR	$749,000	3	2.1	2526	DETACHD
4287 HAVEN ST	$1,249,950	4	3.1	4007	DETACHD
3133 DOUGLAS CIR	$1,350,000	4	3.1	3981	DETACHD

PENDING SALES (Dec 14-27, 2015)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
16250 PACIFIC HWY #54	$124,900	1	1	841	CONDO	97
4634 LOWER DR Grnd	$139,900	2	1.1	1260	CONDO	4
44 EAGLE CREST DR #6	$139,900	1	1	798	CONDO	6
Upper	$146,000	1	1	829	CONDO	232
48 EAGLE CREST DR #2C	$149,900	3	2	1623	CONDO	410
4 TOUCHSTONE #150	$149,900	2	2	984	CONDO	9
19251 Indian Creek AVE	$350,000	4	2	1550	DETACHD	40
17273 BRYANT RD	$395,900	3	1.1	1452	DETACHD	251
17422 BLUE HERON RD	$399,900	3	2	1954	DETACHD	94
6210 CHILDS RD	$400,000	3	1.1	1296	DETACHD	125
5849 FERNBROOK CIR	$419,500	3	1.1	1239	DETACHD	3
4660 UPPER DR	$509,000	4	3	3100	DETACHD	155
5554 ROYAL OAKS DR	$525,000	3	2	1861	DETACHD	255
5192 COVENTRY CT	$550,000	4	2.1	2259	DETACHD	3
6150 KENNY ST	$559,000	3	2.1	2070	DETACHD	150
547 2ND ST Upper	$625,000	2	2	1529	CONDO	38
19468 35TH CT	$788,500	3	2	2641	DETACHD	3
408 NORTHSHORE RD	$929,900	4	4	3753	DETACHD	0
806 6TH ST	$1,099,900	4	2.1	2730	DETACHD	123
3137 DOUGLAS CIR	$1,450,000	4	3.1	4246	DETACHD	0
15845 OSWEGO SHORE CT	$1,875,000	4	4.2	5500	DETACHD	583
1193 FAIRWAY RD	$3,095,000	5	4.2	7028	DETACHD	153

SOLD  (Dec 14-27, 2015)

Address	Opening Price	Close Price	# Beds	# Baths	Total SF	Prop Type	CDOM
61 GALEN RD Grnd	$110,000	$110,000	1	1	550	CONDO	3
66 OSWEGO SMT #66	$124,900	$115,500	1	1	764	CONDO	12
192 OSWEGO SMT #192	$144,750	$148,600	2	2	1383	CONDO	304
4 TOUCHSTONE #130	$159,900	$175,000	2	2	984	CONDO	2
75 GALEN RD Grnd	$171,900	$178,500	2	2	993	CONDO	3
200 BURNHAM RD #406	$265,000	$220,000	2	1	1199	CONDO	153
27 AQUINAS ST	$380,000	$342,000	3	2.1	1568	DETACHD	142
80 KINGSGATE RD	$349,900	$360,000	3	2	1186	DETACHD	3
5934 KENNY ST	$389,900	$391,000	4	2	1596	DETACHD	62
2301 WEMBLEY PARK RD	$460,000	$400,000	3	2.1	1864	DETACHD	17
55 NorthShore RD #4	$415,000	$410,000	2	2	1554	CONDO	36
19229 LONGFELLOW AVE	$419,900	$423,000	2	2	1740	DETACHD	4
3674 CARMAN DR	$449,000	$430,000	3	2.1	1965	ATTACHD	38
2222 CREST DR	$639,000	$497,250	4	3.1	2820	DETACHD	133
17520 REDFERN AVE	$549,900	$499,999	3	2	1776	DETACHD	48
4095 COLTSFOOT LN	$500,000	$500,000	3	2	1958	DETACHD	0
316 MIDDLECREST RD	$664,000	$546,000	3	2.1	3202	DETACHD	75
4724 AVERY LN	$599,900	$595,000	4	2.1	2731	DETACHD	23
207 EVERGREEN RD	$579,000	$600,000	3	3.1	1789	ATTACHD	37
1293 TIMBERLINE DR	$699,000	$612,000	3	3	2957	DETACHD	85
1053 YATES ST	$664,900	$660,000	3	2.1	2598	DETACHD	24
15821 SPRINGBROOK CT	$699,900	$668,779	2	2	2208	DETACHD	10
13485 STREAMSIDE DR	$749,900	$720,000	3	3	3023	DETACHD	18
17454 CANAL CIR	$805,000	$755,000	3	2.1	2475	DETACHD	47
1255 BICKNER ST	$875,000	$850,000	4	2.1	2764	DETACHD	53
1651 VILLAGE PARK LN	$899,000	$862,000	4	3.1	4273	DETACHD	230
17346 CANAL CIR	$995,000	$887,500	4	3	3406	DETACHD	37
1211 Bayberry RD	$1,125,000	$977,750	6	5	4277	DETACHD	79
769 2ND ST	$1,125,000	$1,050,000	5	2.1	3308	DETACHD	900
725 5th ST	$1,124,900	$1,075,000	3	3	2748	DETACHD
2091 SUMMIT DR	$1,150,000	$1,100,000	3	2.1	2660	DETACHD	40
13180 SW Thoma RD	$1,250,000	$1,184,690	5	4.1	5043	DETACHD	96
3796 LAKEVIEW BLVD	$1,995,000	$1,840,000	3	2.2	4150	DETACHD	448
17700 UPPER CHERRY LN	$2,500,000	$2,350,000	5	5.1	6850	DETACHD	8

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.