Category: General

All About Lake Oswego, Oregon real estate topics

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News & Notes ~ Jan 2021 Numbers

Overview/Fluctuations ~  Portland Area Market Data Jan 2021: 

The big story in January is that our Inventory increased from .8 to 1.0 months of supply. If you  think that’s not much, you’re right! We continue to be at record lows in available homes. Last year in January we had 2.2 months of Inventory, which was low. The previous year (Jan 2019) we had 3.3 months of Inventory. So, the field is still competitive out there which means it is a terrific time to sell a home and if you’re buying, rates are still low hovering around 3.125, so better not to wait!

According to the RMLS Market Action Report  for the Portland Metro Area, Jan. 2021:

  • There were 2,579 New Listings in Jan 2021 decreased  6.4% from Jan of 2020’s 2,754, and increased 48.2% from the previous month/Dec’s 1,740.
  • At 1,847, Jan 2021’s Closed Sales are up 11.1% from Jan 2020’s 1,663, and down 33.8% from the previous month/Dec 2020’s total of 2,789
  • At 2,496, Jan 2021’s Pending Sales are up 9.9% from Jan 2020’s 2,271, and also up 24.6% from the previous month/Dec 2020’s total of 2,003.
  • The Average Sale Price in Jan 2021 of $514,700 is up $51,700 from last year/Jan 2020’s $463,000, and up $700. from the previous month/Dec 2020’s $514,000.   
  • The “Median” Sale Price  (the price smack dab in the middle of all sales) in Jan 2021 of $460,000 rose from last year/Jan 2020’s $406,000 by $54,000, and decreased 5,000 from the previous month/Dec 2020’s $455,000

LAKE OSWEGO

The combined areas of Lake Oswego and West Linn  for  the month of January 2021 reported:

  • 84 Active Listings (Dec 114)
  • 112 New Listings    (Dec 73)
  •  121 Pending Sales (Dec 110)
  •   92 Closed Sales    (Dec 137)
  • Average Sale Price for Jan: $812,700  (Dec $845,700)
    • 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.
  •  46 Average Days on the Market   (Dec 60)
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This Week in Lake Oswego

February is Black History Month and the Lake Oswego Library in particular offers special Virtual Events all month long focusing on Black History and Racial Awareness.
Here are my picks for happenings in Lake Oswego this week:

Mon, Feb 8, 2021- 7:00-8:00PM –  The Origination Points & Role of Race in a Caste System ~ Bill de la Cruz will discuss the role of race in perpetuating a caste system of division. He will talk about the narratives and mindsets of superiority and its effects on socializing stereotypes and perceived inferior groups. Online – More Info & Registration: CLICK HERE

Tue, Feb 9, 2021 –  7:00-8:00PM – Ralph Ellison and Race in America~ John Callahan will explore race in America through author Ralph Ellison’s work – fiction, essays, and letters. Professor Emeritus of Humanities, and Literary Executor to the Ralph Ellison Estate, Callahan earned his BA from the University of Connecticut and his M.A. and PhD from the University of Illinois. Callahan joined the faculty at Lewis & Clark College in Portland, Oregon in 1967 and taught there for 48 years, retiring in 2015. Online –   More Info & Registration:  CLICK HERE  

Wed, Feb 10, 2021 – 7:30-9:00PM (Every Wed)- VIRTUAL Mindfulness Meditation: Pain Management  ~ More Info & Reg:  CLICK HERE     

Thu, Feb 11, 2021 7:00-8:00PM – Racial Hygeine in Nazi Germany~ Professor Maureen Healy of the Department of History at Lewis & Clark College will examine the legal avenues through which the Nazi regime excluded Jews from German society in the 1930s.  Online –   CLICK HERE

Fri , Feb 12, 2021:  10:0AM-12:00PM, Abstract Painting for Adults (Every Fri)  ~ Join in with this virtual class offered every Friday ~ Online- More Info & Registration : CLICK HERE 

Sat , Feb 13 2021:  10:00AM-11:00AM, Introduction to Magic (Ages 7-12) ~ Using simple items found around the house, Professor Dr Schreiber, The Historical Conjurer, teaches you magic at your home!  More Info & Registration: CLICK HERE 

Sun, Feb 14, 2021- 4:00-10:00PM (Every Sunday/18 yrs & over) –  Adult Coed 7v7 Soccer League ~ Help restore 50 acres of treasured natural habitat. Bring a shovel, pruners, gloves and a container of water. -Hazelia Field, 17800 SW Stafford Rd-  More Info & Registration: CLICK HERE

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Market Activity ~ Jan 25-31, 2021

We logged 4 New Listings, 21 (not bad for a rainy week) moving to Pending status, and 6 Properties Sold/Closed last week. Here’s the breakdown according to RMLS data:

NEW Jan 25-31, 2021

AddressList Price# Beds# BathsTotal SFProp Type
4580 TRILLIUM WOODS$739,90032.11992ATTACHD
1920 Park Forest AVE$1,125,000332679DETACHD
1483 WOODLAND TER$1,199,999543135DETACHD
1870 TWIN POINTS RD$2,895,00044.14649DETACHD

PENDING Jan 25-31, 2021

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
16250 PACIFIC HWY  #50$284,000221305CONDO2
16250 PACIFIC HWY  #73$319,000221305CONDO87
16250 PACIFIC HWY  #59$319,000221305CONDO9
750 1ST ST,  E34$335,000221350CONDO3
18667 SW BENFIELD AVE$485,000421414DETACHD5
1790 CONIFER DR$524,900211003DETACHD13
28 AQUINAS ST$529,000321960DETACHD6
17095 WESTVIEW DR$649,000433356DETACHD90
4361 SOUTHSHORE BLVD$819,000432441DETACHD75
1780 YARMOUTH CIR$845,00032.12307DETACHD0
17596 GREEN BLUFF DR$959,90042.13039DETACHD75
5900 SUNCREEK DR$999,00052.13942DETACHD4
3600 PIPER CT$1,050,00053.14549DETACHD4
19125 35TH PL$1,114,90044.15153DETACHD257
2120 GLENMORRIE DR$1,298,00053.14293DETACHD115
639 CARRERA LN$1,350,00043.14447DETACHD16
312 9TH ST$1,350,00032.12686DETACHD103
3175 DOUGLAS CIR$1,425,00043.25400DETACHD3
13701 KNAUS RD$1,849,00054.15730DETACHD2
14080 GOODALL RD$2,095,00064.26005DETACHD23
1340 CHERRY LN$2,145,00044.25922DETACHD9

SOLD Jan 25-31, 2021

AddressOpening PriceClosed Price# Beds# BathsTotal SFProp TypeCDOM
5859 KENNYCROFT WAY$499,900$511,00031.11205DETACHD4
1599 OAK ST$664,900$655,00042.12468DETACHD31
4584 TRILLIUM WOODS$739,900$715,00032.12179ATTACHD44
18064 JENIFERS WAY$930,000$895,000532965DETACHD44
6429 Mission CT$1,165,000$1,184,00043.13182DETACHD277
16337 CHAPIN WAY$2,599,000$2,270,00054.15115DETACHD71

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 Reads: Caste

This February is the 15th annual Lake Oswego Reads and the selected book is Caste by Isabel Wilkerson. This event invites the entire town to read the same book and then come together with special events to commemorate the subject and the author. Of course, this year due to covid, there’s a lot of adaptation to keep everyone safe and healthy.

A top 10 New York Times best seller, the book compares caste systems throughout global history. It examines how social customs and legislation combine to keep segments of society oppressed in order for other segments of society to prevail and to profit. The message is both profound and important.

Special events include a trivia night, a history lesson about 450 years of Black history in Oregon, a discussion of the role of race in the castes system, a discussion about curriculum reform in the Lake Oswego School District, a virtual art show featuring 17 local artists’ interpretation of the book, and much, much more.

For a full list of Lake Oswego Reading events click here.

Enjoy the book and keep on reading!

Dianne

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2021 Is Here

We hope you all are looking forward to new and exciting adventures in 2021! Dianne and I will be here bringing you the lay of the land in Lake Oswego each week with current market stats, real estate insights, marketing tips, community information & more. The horizon is looking good according to all the forecasters, and of course we’re all looking forward to upcoming immunization assistance in all of our communities. Rates are expected to rise a bit, and we’re all expecting Inventory, which is at an all-time low, to rise.

Dianne and I wish you the very best this year and extend our reminder that we’re always at the other end of a phone call or email. Always here for you!

Happy New Year.

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Companion Calls for Senior Citizens

There is a brand new program happening in Lake Oswego. It’s been organized by 7 volunteers at the Lake Oswego Adult Community Center. This program connects senior citizens with volunteers who make a weekly phone call to them to just have a nice, neighborly visit.

Paricularly in the time of Covid, people are feeling alone in their homes. Getting that phone call once a week can really brighten up a person’s life. I think the idea is just brilliant.

“We just chat about local stuff and stay connected to what’s going on in this beautiful city of ours” says coordinator Ross Fearey.

Referrals for potential recipiants to date have come from the Adult Community Center and also from Tony Sparling, the adult resources officer with the Lake Oswego Police Department.

If you or someone you know would benefit from participating in this program, call 503-636-5040 to make arrangements to receive regular calls.

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News & Notes ~ Nov 2020 Numbers

Here is your look at the most recent data for the entire Portland area (Nov2020) and how Lake Oswego fits in to this picture just below.

Overview/Fluctuations ~  Market Data Nov 2020:                                  

Inventory is now at 1.0 months of supply here, locally. The lowest it’s ever been. All forecasts are for continued increases in home sales and prices, though more modestly than 2020. Prediction #’s vary among economists. National Association of Realtors (NAR) is predicting a 7.3% increase in sales  nationally in 2021. Interest rates are still hovering around 2.875% but are expected to rise, albeit not dramatically. One very interesting item I noted from the NAR information is that nationally,  1 in 6 home purchases is now “multi-generational”. So, how we live is changing in many ways:  People are looking for more space to work from home, and generations are moving in together. There is generally more up-sizing than down-sizing going on.

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

  • There were 2,238 New Listings in Nov 2020 increased 5.7% from Nov of 2019’s 2,118,  and decreased a whopping 36.3% from the previous month/Oct’s 3,515.
  • At 2,745, Nov 2020’s Closed Sales are up 12.4% from Nov 2019’s 2,191, and decreased 13.0% from the previous month/Oct 2020’s total of 3,155
  • At 2,557, Nov 2020’s Pending Sales are up 12.4% from Nov 2019’s 2,274, and dropped 20.1% from the previous month/Oct 2020’s total of 3,199.
  • The Average Sale Price in Nov 2020 of $521,200 is up $58,600 from last year/Nov 2019’s $462,600, and is up $4,700 from the previous month/Oct 2020’s $516,500.   YTD increase is 7.1%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in Nov 2020 of $457,000 rose from last year/Nov2019’s $415,000 by $42,000, and decreased $3,000 from the previous month/Oct 2020’s $460,000. YTD increase is 6.8%.

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

  • North Portland:  $480,600              6.2%   (Oct $450,300) YTD Median: $431,000
  • NE Portland:  $508,700                    5.0%   (Oct $531,200) YTD Median: $455,000
  • SE Portland:  $478,200                    8.1%   (Oct $477,300) YTD Median: $409,000
  • Gresham/Troutdale:   $425,200    5.2%   (Oct $412,900) YTD Median: $378,000
  • Milwaukie/Clackamas: $510,700 7.7%   (Oct $512,100)  YTD Median: $450,000
  • Oregon City/Canby:   $506,300    6.5%  (Oct $511,300) YTD Median: $440,500
  • Lake Oswego/W Linn:$822,000 10.9%  (Oct $756,600) YTD Median: $645,000
  • West Portland:    $650,400              5.1%   (Oct $685,900) YTD Median: $550,000
  • NW Wash County:  $578,900        6.2%  (Oct $595,600) YTD Median: $527,500
  • Beaverton/Aloha:     $449,100        5.2%  (Oct $451,200)  YTD Median: $417,000
  • Tigard/Wilsonville:   $528,200       9.5%  (Oct $516,700) YTD Median: $479,000
  • Hillsboro/Forest Grove: $444,400 5.6%  (Oct $445,600)YTD Median: $410,000

LAKE OSWEGO:

  • The combined areas of Lake Oswego and West Linn  for  the month of November 2020 reported:
    •  177 Active Listings (Oct 213)
    •  104 New Listings     (Oct 197)
    •  106 Pending Sales   (Oct 193)
    •  166 Closed Sales       (Oct 173)
    • Average Sale Price for Nov: $822,000  (Oct $756,600)
      • 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.
    •  50 Average Days on the Market   (Oct 59)

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Market Activity ~ Nov 30- Dec 6, 2020

This last week in Lake Oswego continues the trend we’ve been seeing of fewer homes being Listed (5) and more going Pending (17) & Sold (35). There are currently 106 homes available in Lake Oswego.

Here is a snapshot in time according to RMLS:

NEW: Nov 30-Dec 6, 2020:

AddressList Price# Beds# BathsTotal SFProp Type
1599 OAK ST$664,90042.12468DETACHD
2145 SUMMIT DR$1,000,00042.23111DETACHD
6485 MISSION CT$1,165,00043.13133DETACHD
18460 RAY RIDGE DR$1,249,00042.13769DETACHD
1200 LAKE GARDEN CT$1,400,000433347DETACHD

PEN: Nov 30-Dec 6, 2020:

AddressList Price# Beds# BathsTotal SFProp TypeCDOM
44 EAGLE CREST DR #17$199,90011798CONDO16
200 BURNHAM RD #303$253,000211200CONDO144
4640 LOWER DR / Upper$279,90021.21170CONDO11
5071 TUALATA LN$584,900331540DETACHD22
17104 CANAL CIR$650,000321416DETACHD36
17095 WESTVIEW DR$664,900433354DETACHD32
5338 ROYAL OAKS DR$819,00042.12720DETACHD67
13456 PROVINCIAL HILL WAY$840,00032.13071DETACHD69
49 HILLSHIRE DR$909,90043.14268DETACHD113
1816 PALISADES LAKE CT$1,150,00032.14598DETACHD104
13310 FOX RUN$1,150,00043.13741DETACHD1006
18020 MEADOWLARK LN$1,350,000544217DETACHD4
490 G AVE$1,450,00043.12977DETACHD1
1111 C AVE$1,469,00043.13354DETACHD
4165 Childs RD$1,549,90032.13310DETACHD11
587 2ND ST / Upper$1,575,00022.12250CONDO40
4357 SOUTHSHORE BLVD$2,945,00055.15220DETACHD152

SLD: Nov 30-Dec 6, 2020

AddressOpening PriceClosed PriceBedBathTotal SFProp TypeCDOM
344 CERVANTES CIR/Grnd$223,000$223,00021.1921CONDO5
16377 KIMBALL ST$389,000$360,000311200DETACHD6
31 GREENRIDGE CT$430,000$425,00032.12012ATTACHD95
16246 PARKER RD$479,900$480,000321280DETACHD7
18275 TERRY CT$439,900$490,00031.11270DETACHD196
16242 INVERURIE RD$519,000$526,200321687DETACHD3
1705 CONIFER DR$539,000$535,00031.11850DETACHD11
77 GREENRIDGE CT$584,900$571,00032.12190ATTACHD11
769 4TH ST$499,000$586,000412000DETACHD4
15500 BOONES WAY$535,000$590,000321309DETACHD5
3102 DUNCAN DR$799,000$670,00043.13910DETACHD113
880 WOODWAY CT$700,000$670,000433800DETACHD30
221 HIDALGO ST$710,000$679,00032.12660DETACHD35
4045 MELISSA DR$758,000$690,00042.12529DETACHD40
15988 WHITE OAKS DR$785,000$710,00042.12854DETACHD41
4113 WOOD HILL CT$745,000$710,000432810DETACHD34
13881 SHIREVA DR$695,000$720,000432392DETACHD3
17841 WESTVIEW DR$739,000$720,00042.12434DETACHD20
634 CARRERA LN$750,000$740,00042.13282DETACHD4
1702 HIGHLAND DR$779,000$744,00032.12175DETACHD32
13947 MAJESTIC CT$799,900$805,00043.12822DETACHD3
15655 FIELDSTONE DR$830,000$830,00042.12781DETACHD2
13217 FOX RUN$868,000$831,000432706DETACHD40
19245 MEGLY CT$899,000$899,000533490DETACHD41
13745 CAMEO CT$999,500$910,000442846DETACHD78
4297 ALBERT CIR$999,995$920,00032.12335DETACHD69
5690 BAY CREEK DR$969,000$950,00042.13268DETACHD4
15930 TWIN FIR RD$995,000$970,00032.12620DETACHD82
2900 UPPER DR$1,040,000$977,500322272DETACHD66
3180 DOUGLAS CIR$1,475,000$1,240,00052.24768DETACHD496
13615 KNAUS RD$1,995,000$1,858,00043.14294DETACHD56
1588 VIEW LAKE CT$1,995,000$1,995,00042.24429DETACHD4
16865 GREENBRIER RD$2,695,000$2,200,000556404DETACHD101
4321 Southshore BLVD$3,950,000$3,756,70054.16731DETACHD118
1415 CHANDLER RD$4,250,000$3,862,50064.27054DETACHD87
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Market Activity November 16-29, 2020

Here at the blotter we usually do the market activity report one week at a time, but with the holiday last week, we have combined two weeks. As you can see, not many houses came onto the market, just 12. However, the pending sales and closed sales remained strong. There were 34 properties that went into pending status and 35 closed sales. At this time of year, people making moves are highly motivated to get into the new house before Christmas.

See below for details

New on the Market November 16-29, 2020

AddressTypePriceBRBathsSq Ft
44 Eagle Crest #17Condo$199,90011798
668 McVey Ave #44Condo$229,00011636
4 Touchstone #85Condo$240,00032.51351
4606 Lower DrCondo$260,00021.11170
750 1st St #26Condo$360,010221350
4515 Oakridge RdAttached$685,00032.51981
314 2nd StCondo$740,00033.51815
6123 Frost LnDetached$789,90042.52331
4361 Southshore BlvdDetached$875,000432441
978 10th StDetached$1,495332578
4165 Childs RdDetached$1,549,90032.53310
1199 Sunningdale CtDetached$2,250,00044.54319

Pending Sales November 16-29, 2020

AddressTypePriceBRBathsSq FtCDOM
280 CervantesCondo$256,90022105035
16250 Pacific Hwy #77Condo$259,00022132779
45 Eagle Crest Dr #100Condo$285,00032153718
750 1st St E34Condo$309,900221350114
2061 Bonniebrae DrAttached$405,00032.516875
71 Condolea WayCondo$425,00033213188
5309 Lakeview BlvdDetached$474,950211320158
5136 Jean RdDetached$495,00032141244
16242 Inverurie RdDetached$519,0003216573
17297 Bryant RdDetached$550,0003214283
69 Condolea TerraceCondo$555,00022.5226215
1540 Meadowlark LnDetached$649,0005327275
17879 Hillside DrDetached$699,900333149271
18863 Indian Springs RdDetached$699,9004320012
9 SpinosaDetached$725,00022.5225022
1702 Highland DrDetached$749,00032.5217532
2395 Greentree RdDetached$749,90052.5277715
19 Westridge DrDetached$749,90042.5371128
1604 Country Club RdDetached$800,00043.5387834
5185 Woodcrest LnDetached$835,00032.5255433
5239 Madrona StDetached$885,0003328814
14218 Kimberly CircleDetached$899,50042.5327222
2349 Oakhurst LnDetached$935,00042.535488
2934 Toklien LnDetached$874,80053.5385111
3000 Brookside RdDetached$999,95032.5160050
6155 McEwan RdDetached$1,165,00053372836
6441 Mission CtDetached$1,165,00043320124
13768 Knaus RdDetached$1,180,0003224804
859 F AveDetached$1,379,00032.532105
14005 Goodall RdDetached$1,595,00043.54809207
527 Northshore RdDetached$1,800,00032243320
13615 Knaus RdDetached$1,895,00043.5429456
1540 Worthington StDetached$589,9005218724
5204 Rosewood StDetached$599,00032.516833

Closed Sales November 16-29, 2020

AddressTypeList PriceSold PriceSq FtCDOM
668 McVey Ave #40Condo$249,900$225,00063621
86 Kingsgate Rd E #101Condo$274,900$260,00095314
668 MdVey Ave #42Condo$257,900$261,0008523
668 McVey Ave #65Condo$315,000$307,00063638
5225 Jean Rd #511Condo$369,900$381,00014003
206 Greenridge DrAttached$475,000$502,50013924
98 Kingsgate RdDetached$510,000$505,00017272
1225 Hallinan StDetached$584,900$550,00018195
127 Greenwood RdDetached$550,000$556,000120113
2631 Orchard Hill PlDetached$619,900$599,900244733
14863 Twin Fir CtDetached$630,000$600,000164877
715 Hemlock StDetached$539,900$635,00013123
17226 Tualatin StDetached$695,000$679,00019424
29 Churchill DownsDetached$700,000$690,000201912
1725 Fernwood DrDetached$699,000$699,00015806
17061 Crestview DrDetached$649,900$705,00022163
12436  Orchard Hill RdDetached$725,000$710,00028918
5124 Rosewood StDetached$739,900$729,000351692
4102  Buck Brush LnDetached$697,000$729,00022053
7 Falstaff StDetached$729,000$731,25024841
4388 Snowbrush CtDetached$825,000$775,0003928230
2290 Overlook DrDetached$725,000$776,00030953
2585 Dellwood DrDetached$949,900$875,000374978
17421 Brookhurst DrDetached$899,900$895,000375612
18140 Pioneer CtDetached$964,900$965,00025242
1507 Cedar StDetached$1,099$1,100,000250567
6463 Mission CtDetached$1,165$1,165,0003547290
2250 Southshore BlvdDetached$1,299$1,185,0004432229
1989 Egan WayDetached$1,384$1,399,000407311
827 8th StDetached$1,425$1,399,0003852103
800 Terrace DrDetached$1,559$1,555,0005359160
4223 Upper DrDetached$1,650$1,699,0003902430
16793 Graef CircleDetached$2,695$1,900,0004220116
17787 Cardinal DrDetached$2,199$1,950,000327062
19025 Hill Top RdDetached$2,349$2,100,0005366755

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.