Portland Area March 2024 Stats + LO

Here is your breakdown from the previous month/March for Portland and surrounding areas including LO broken out at the bottom. ***Be sure to check out the Neighborhood Report which categorizes down into smaller pieces.

Overview/Fluctuations ~ March 2024 Market Data:

Inventory indicates homeowners are still holding on to their properties, presumably waiting for some more pronounced indications of rates going down for their own purchases. And/but Buyers seem to have recognized that this is a temporary, albeit annoying situation wherein the strong economy is keeping the Fed from easing up just yet. Spring has sprung and we’re seeing most neighborhoods/areas inching up in demand and price…yet another reason Buyers are not waiting.

Rates: “Rates have pushed higher from persistent inflation. They are currently on the low 7% range.”         Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report for the Portland Metro Area March 2024:

  • There were 2,425 New Listings in March which is down 7.5% from 2,623 in March 2023 and up 16.3% from the 2,085 in the previous month/February.
  • At 1,578 March 2024’s Closed Sales (Solds) are down 9.6% from March 2023’s 1,745 and up 22.9% from the previous month’s total of 1,284.
  • At 2,138 March 2024’s Pending Sales (Accepted Offers) are up 2.8% from March 2023’s 2,079, and up 22.7% from the previous month/February’s total of 1,742.
  • The Average Sale Price for March 2024 of, $590,400 is up$5,900. from last year/March 2023’s $584,500, and up $13,500 from the p­­revious month/Feb’s $576,900. 
  • The “Median Sale Price (the price smack dab in the middle of all sales) in March 2024 of $535,000 is up $10,000 from March 2023’s $525,000, & up $5,000 from Feb’s $530,000  

LAKE OSWEGO: (Month of March ’24)

185 Active Listings (Feb 177)
147 New Listings  (Feb 123)
121 Pending Sales (Feb 91)
78 Closed Sales  (Feb 60)
Average Sale Price for Feb: $1,094,000 (Feb $1,018,400)
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.
85 Days on the Market   (Feb 77)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS)

Market Activity ~ April 8-14, 2024

Last week Lake Oswego had 19 properties enter the market, 15 move to Pending status, and 17 that Closed/Sold. Right now there are 157 properties available ranging from $199,900 to $11,500,000.

Here is the breakdown:

NEW April 8-14, 2024

AddressList PriceBedsBathsSFProp Type
15494 BRIANNE CT$469,00022.11320ATTACHD
88 GREENRIDGE CT$525,000221314ATTACHD
4204 WOODSIDE CIR$560,000221308ATTACHD
15275 BOONES WAY$629,000221320ATTACHD
4295 WOODSIDE CIR$675,500322026ATTACHD
2703 ORCHARD HILL PL$745,000433292DETACHD
5749 WINDFIELD LOOP$749,000331873DETACHD
4490 LAKEVIEW BLVD$779,900321727DETACHD
2 ABELARD ST$898,00033.13026DETACHD
17007 WESTVIEW DR$1,050,000542649DETACHD
13660 SHIREVA DR$1,295,000432697DETACHD
13330 HIDDEN BAY CT$1,325,00042.13030DETACHD
5511 WESTFIELD CT$1,385,00042.14035DETACHD
4042 CANAL WOODS CT$1,500,00043.14302DETACHD
2020 RIDGEWOOD LN$1,550,00032.13082DETACHD
16827 SCOTT CT$1,550,00043.14225DETACHD
4464 LAKEVIEW BLVD$2,998,000343596DETACHD
15780 TWIN FIR RD$3,298,00044.14270DETACHD
16470 PHANTOM BLUFF CT$3,495,00044.15188DETACHD

PENDING April 8-14, 2024

AddressList PriceBedsBathsSFProp TypeDays
44 EAGLE CREST DR #38$250,00011798CONDO18
86 KINGSGATE RD #46$335,00022938CONDO3
16250 PACIFIC HWY #58$369,900221305CONDO17
14362 SHERBROOK PL$465,00021.11279ATTACHD184
5 PHEASANT$639,900321420DETACHD163
4295 WOODSIDE CIR$675,500322026ATTACHD2
31 PARTRIDGE LN$749,900433158DETACHD50
8 DEL PRADO ST$1,050,000533548DETACHD8
46 DA VINCI ST$1,195,000533378DETACHD4
13536 STREAMSIDE DR$1,249,00043.13002DETACHD4
818 ASH ST$1,250,000321500DETACHD66
16827 SCOTT CT$1,550,00043.14225DETACHD3
1687 VILLAGE PARK LN$1,599,000433362DETACHD3
17660 WAYSIDE LN$2,195,00055.15975DETACHD91
15780 TWIN FIR RD$3,298,00044.14270DETACHD3

SOLD April 8-14, 2024

AddressOpeningClosedBedsBathsSFProp TypeDays
4 TOUCHSTONE #107$319,999$285,00032.11351CONDO267
16250 PACIFIC HWY #57$384,000$359,000221305CONDO405
26 GREENRIDGE CT$497,000$420,00032.11996ATTACHD127
5052 FOOTHILLS DR, C$445,000$425,000321252CONDO43
10 CONDOLEA DR / Main$499,000$505,000221312CONDO9
16900 GASSNER LN$839,000$750,000433480DETACHD12
14 ICARUS LOOP$819,900$788,00032.13201DETACHD213
18150 BRYANT RD$824,900$820,000321468DETACHD26
14480 CAMDEN LN$940,000$899,00032.12069DETACHD41
4908 HASTINGS DR$950,000$930,00032.12109DETACHD7
24 AQUINAS ST$1,050,000$931,68032.13200DETACHD28
838 ASH ST$1,058,000$1,054,50042.12785DETACHD5
47 HILLSHIRE DR$1,550,000$1,418,00042.13324DETACHD187
17663 HILL WAY$1,799,900$1,739,900333375DETACHD482
12830 ALTO PARK RD$1,899,900$1,899,90043.13509DETACHD32
14050 GOODALL RD$2,450,000$2,250,00054.26943DETACHD9
1617 LAKE FRONT RD$4,898,000$4,700,00044.14610DETACHD226
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) .

Fun Markets in Lake Oswego

Night Market on Sat & More!

Every Saturday in lake Oswego we get to enjoy the Farmers Market at Millennium Plaza Park CLICK HERE FOR MORE INFO and we have a couple more “Special” markets happening this week in Lake Oswego too! One is the First Sunday Market in Lake Grove CLICK HERE FOR MORE INFO ***AND*** a special event tonight/Saturday at Elephants Delicatessen with local artisans and all manner of food & fun: Night Market!!! CLICK HERE FOR MORE INFO .

Photo by: Elina Fairytale

Market Activity ~ March 25-31, 2024

Last week Lake Oswego had 16 Properties enter the market (New), 20 move to Pending/Accepted Offer status, and 21 that Sold/Closed. Right now there are 148 properties available in Lake Oswego ranging from $199,900 to $11,500, 000.

Here is the breakdown according to RMLS:

NEW March 25-31, 2024

AddressList PriceBedsBathsSFProp Type
44 EAGLE CREST DR, #38$250,00011798CONDO
141 Oswego Summit / Upper$315,000221140CONDO
50 CERVANTES CIR$319,00021.11399CONDO
15240 BOONES WAY / Main$445,000221180CONDO
15486 BRIANNE CT$459,00022.11284CONDO
16200 PACIFIC HWY, #2$499,900221190CONDO
456 5TH ST$650,00021.11092CONDO
6239 EDGEWOOD ST$679,000321434DETACHD
30 MORNINGVIEW CIR$750,000332276DETACHD
16855 FERNWOOD DR$899,000432735DETACHD
17867 SUNDOWN CT$995,00033.12763DETACHD
1530 LARCH ST$1,039,000432384DETACHD
62 Touchstone$1,289,000533972DETACHD
214 NORTHSHORE RD$1,599,900331978DETACHD
4992 PARK BLUFF PL$2,200,00043.24023DETACHD
3096 WEMBLEY PARK RD$2,395,000544165DETACHD

PENDING March 25-31, 2024

AddressList PriceBedsBathsSFProp TypeDays
100 KERR PKWY, #41$225,00021.1822CONDO26
45 EAGLE CREST DR, #207$250,00021.11056CONDO
512 S STATE ST, #512$315,00011829CONDO16
15486 BRIANNE CT$459,00022.11284CONDO3
10 CONDOLEA DR / Main$499,000221312CONDO9
5726 SW DOGWOOD DR$519,000312664DETACHD29
30 WHEATHERSTONE$525,00032.11692CONDO22
30 MORNINGVIEW CIR$750,000332276DETACHD0
18150 BRYANT RD$824,900321468DETACHD26
17558 BRYANT RD$825,00042.12172DETACHD50
6236 SW WAYZATA CT$900,00042.12127DETACHD10
4407 OAKRIDGE RD$939,00032.12265ATTACHD10
1530 LARCH ST$1,039,000432384DETACHD2
14674 RAINBOW DR$1,295,000433190DETACHD11
2316 OAKHURST LN$1,350,00042.13639DETACHD9
16368 LAKE FOREST BLVD$1,399,00042.12750DETACHD27
13180 THOMA RD$2,150,00054.15526DETACHD13
4992 PARK BLUFF PL$2,200,00043.24023DETACHD0
17331 CANYON DR$2,295,000443795DETACHD53
3145 Douglas CIR$3,299,90044.14735DETACHD42

SOLD March 25-31, 2024

AddressOpeningClosed/SoldBedsBathsSFProp TypeDays
5054 FOOTHILLS DR, H$400,000$330,000321252CONDO249
200 BURNHAM RD, #306$359,000$339,000211199CONDO654
4516 LOWER DR, B4$575,000$575,00032.11997CONDO297
3485 DEVONSHIRE DR$624,950$600,000321556ATTACHD17
4736 AMHERST CT$834,900$710,00032.12929ATTACHD12
3930 SOUTHSHORE BLVD$725,000$750,000423526DETACHD1052
17 SPINOSA$750,000$760,000323123DETACHD1
121 WILBUR ST$749,900$765,000321631CONDO4
16084 WHITE OAKS DR$975,000$938,00042.12226DETACHD4
3814 RIVERS EDGE DR$1,000,000$950,00042.12937DETACHD12
304 6TH ST$1,000,000$975,000321691DETACHD23
18 MONTICELLO DR$985,000$981,000634626DETACHD19
13265 FOX RUN$1,089,000$1,089,00042.12614DETACHD3
15119 QUARRY RD$1,198,000$1,100,000322106DETACHD2
322 2ND ST$1,215,000$1,205,00033.11974ATTACHD190
3721 UPPER DR$1,995,000$1,450,00042.13249DETACHD7
1420 MORNING SKY CT$1,529,900$1,530,00043.13613DETACHD32
2679 GLEN EAGLES RD$2,147,000$2,147,00044.14709DETACHD4
4243 UPPER DR$2,249,900$2,175,000443361DETACHD35
3070 WEMBLEY PARK RD$2,395,000$2,272,00043.14032DETACHD8
755 ELLIS AVE$3,587,000$3,350,00054.14966DETACHD42
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) .

Hello Spring!

Lake Oswego truly is a beautiful place in the springtime.

It felt like winter hung on until exactly the first day of spring and then, bang! Spring burst forth. So many flowering trees, daffodils and tulip.

To me, spring speaks of optimism and rebirth. It is a reward for hard work and persevering. These photos are from my walk yesterday.

I honestly love every season: even the cold and shortened daylight of winter. Yet, spring has something special going for it. I hope that today you are able to enjoy some fresh air and to see the beauty and splendor that is all around us.

Dianne

Jan 2024 – Stats for Portland Area + LO

Here is your breakdown from the previous month/January for Portland and surrounding areas including LO broken out at the bottom. ***Be sure to check out the Neighborhood Report which categorizes down into smaller pieces.

Overview/Fluctuations ~ January 2024 Market Data: 

The big stories are that the Portland Metro area saw a jump in overall inventory, and New Listings shot up over last month by 89.2%.  Neither of these things is unusual as we move past the dividing line into the New Year, and/but there is a general feeling that this is just the beginning of a new trend. We’ll have to see what the numbers are for Feb once they’re available.  We also see downward motion on the overall sale price numbers from December… That is not necessarily unusual either because the end of the year is a notorious time for people to want to negotiate aggressively for various reasons.

Lake Oswego sale price average can vary widely from month to month affected greatly by the sale of one or several high dollar or low dollar properties that tend to skew the real meaning of following that particular stat in LO.

Rates: “Rates have stabilized in the low to mid 6% range. I don’t anticipate major movement in the next few weeks”         Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report  for the Portland Metro Area January 2024:

  • There were 1,941 New Listings in January which is up 0.2% from 1,938 in Jan 2023 and a whopping 89.2% from the 1,026 in the previous month/December.
  • At 1,120 Jan 2024’s Closed Sales (Solds) are up 2.9% from Jan 2023’s 1,088, and down 15.8% from the previous month’s total of 1,330.
  • At 1,492 Jan 2023’s Pending Sales (Accepted Offers) are down 15.8% from Jan 2023’s 1,771, and up 14.0% from the previous month/December’s total of 1,309.
  • The Average Sale Price for Jan 2024 of, $564,600 is up$31,700. from last year/Jan 2023’s $532,900, and is down $22,200 from the p­­revious month/Dec’s $586,800. 
  • The “Median Sale Price (the price smack dab in the middle of all sales) in Jan 2024 of $505,000 is up $15,500 from Jan 2023’s $489,500, & down $20,000 from Dec’s $525,000

NEIGHBORHOODS:

LAKE OSWEGO: (Month of Jan ’24)

167 Active Listings (Dec 171)
96 New Listings  (Dec 45)
69 Pending Sales (Dec 46)
44 Closed Sales  (Dec 60
Average Sale Price for Dec: $883,600 (Dec $1,095,500)
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.
89 Days on the Market   (Dec 71)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS)

Metro Area Snapshot

I had to share this graphic. Look at the Portland Metro area. There are only 3 parts of the community that did not loose value in the last year: Tigard/Wilsonville and Lake Oswego/West Linn. And appreciation in LO/WL has been a healthy 5.9%. You should feel very good about choosing Lake Oswego as a place to live or to aspire to live. Not only is it a terrific community, but it’s a great investment.

Happy New Year 2024!

Linda and I want to wish you and yours a very Happy New Year filled with success, health, happiness, and everything you are striving for in the months ahead.

Peace and Joy to You and Yours

On this Christmas Day, Dianne and I wish you and your loved ones a holiday filled with all the cozy things you associate with this time of year. In this big world, we are grateful for so many things, and we wish you more of exactly what fills your home with Joy. Happy Holidays and Merry Christmas to you!  

Real Estate at the Holidays

Many Realtors plan cruises and vacation trips at this time of year. Very early on in my real estate career, my Principal Broker handed me a tenet …an affirmation of sorts that I adopted as my own long ago when she said ~ “I am always busy in December.” And so it is.

Life goes on and people always have reasons to pursue changing their living environment no matter what time of year it is. You’ll often hear: “Wait till the spring” and the like. That may or may not be good advice when really looking at the individual’s situation and needs. I thought it might be useful to point out a few things about Real Estate at this time of year~

There are so many “extra” distractions right about now… gift-hunting, party-planning, wrapping, festive food-planning & preparation, school break planning for the kids…not to mention that it is often raining and cold and sometimes snowing. People who are looking for a home at this time of year are serious Buyers. So, as a homeowner who has a reason to make a life-change that involves selling your home right about now, the people coming through your home are not “just looking”. It’s a good thing to narrow/concentrate the Buyer-pool this way! Dianne also often points out that selling your property during the holidays allows you to really create those warm notes that often attract Buyers to a “home” rather than just a house~ Lights in the windows, festive decorations inside & out, and maybe even the smell of cookies authentically in the air. And from the other side of the equation~ Buyers, at this time of year may find they encounter Sellers who are more amenable to taking care of necessary safety/functional repair items and the tone is often more friendly with the goal of working toward mutual-benefit surrounding the transaction. ***So, generally, timing is usually some kind of factor for both the Buyer and the Seller right now which tends to create a cooperative mindset.

I thought it might be important for *someone* reading this to take note of these things should you find yourself in the midst of some life change nudging you to take action. As always, Dianne and I are here for you should this ever be the case.

Happy Holidays!