Lake Oswego Real Estate Blog
All About Lake Oswego, Oregon real estate topics
Dianne and I wish you the very best of the season as you hopefully get a chance to slow down a bit and enjoy the people and things you love. We’ll be taking some time off from the Blotter during the holidays and will be back very soon to fill you in on all the latest happenings in the Lake Oswego real estate market!
May this day bring and remind you of Peaceful things. If you’re reading this, Dianne and I are grateful for you.
Here is your look at what’s been happening in the overall Portland area including individual areas of the metro, and with Lake Oswego broken out below:
Overview/Fluctuations ~ Market Data Oct 2021: We’re definitely watching the typical fall/winter slowdown across the board, BUT, in general we’re seeing improvements over the same 10-month period in 2020. Inventory which had started to rise slowly but steadily did take another slight dip in October. Listings increased 6.6% over 2020 during this time period, Pending Sales rose 9.0% and Closed Sales were up by 12.5%.
Rates: “Rates are at around 3.25% right now, however we are seeing continued upward pressure as the Federal Reserve takes steps to combat inflation.” Gary Boyer, Regional VP, Directors Mortgage
According to the RMLS Market Action Report for the Portland Metro Area, Oct 2021:
LAKE OSWEGO:
138 Active Listings (Sep 154)
146 New Listings (Sep178)
152 Pending Sales (Sep 170)
142 Closed Sales (Sep 168)
Average Sale Price for Sept: $853,200 (Sep $975,700)
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.
27 Days on the Market (Sep 24)
Labor Day pays tribute to the contributions and achievements of American workers and is traditionally observed on the first Monday in September. It was created by the labor movement in the late 19th century and became a federal holiday in 1894 under President Grover Cleveland.
Peter J. McGuire, a carpenter and labor union leader and Matthew Maguire were the two who who came up with the idea for Labor Day. They thought American workers should be honored with their own day. Peter was the vice president of the American Federation of Labor and Matthew was secretary of the Central Labor Union in New York. Some stories say these men with similar last names were actually brothers. In any case, they chose a date midway between the Fourth of July and Thanksgiving. The weather would be ideal for parades and picnics, two events we still enjoy on Labor Day today. They proposed his idea to New York’s Central Labor Union early in 1882, and they thought the holiday was a good idea, too. This holiday was in response to a series of worker strikes in the late 19th century as workers protested against unfair working conditions.
The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.
***Data from: earthsky.org, history.com, americaslibrary.com, Wikipedia, NY Times
Linda and I want to wish you a happy and safe 4th of July!
We Honor Them All.
This is a bit of a divergence from the usual posts that Linda and I write where we try to focus on Lake Oswego Real Estate. Instead I decided to share something that I find just fascinating: 3D printed houses.
A company in Texas, ICON, is 3D printing houses. The company set a goal of finding a way to build houses that are more affordable, resilient, and that can be built faster. Their first house was built in 2018. it was 350 square feet and took 48 hours to print out. It was built in Austin, Texas, a place with very strict building codes. The house was fully permitted.
The printer is quite large, as you can imagine. It’s called a Vulcan II. It extrudes a cement compound called Lavacrete. It pours out 5-7 inches per second. Today, a 400-500 square foot house can be built in 24 hours.
Today, houses can be built up to 2000 square feet.
I say “built”, but I think that is a rather a loose term in this enstance. Once the shell of the house has been “printed”, it is set on a foundation and the components, like windows, doors, plumbing, etc., are added.
The printer can do more than build square boxes. It can be programed for things like curved walls and vaulted ceilings.
The cost savings is approximately half of a traditional stick built home. Partnering with Mobile Loaves and Fishes, ICON is working to build housing for the homeless.
I just love the inovation and found this entire concept intriquing. For more information, click here.
I hope you found this as fascinating as I did, and, as always, thanks for reading the blotter.
Dianne
Here is your wider Portland Market Report according to RMLS data, with overall Neighborhood changes and Lake Oswego data broken out below.
Overview/Fluctuations ~ Market Data March 2021:
Low Inventory continues to be the driver of competition in the greater Portland area where we see price increases in most neighborhoods/areas from the prior month & all areas increasing over 2020. (See below for breakdown). Comparing 2021 to the same period in 2020 thru March, Overall Average Price has increased 16.6% and Median Price 14.9%.
My trusted Mortgage Advisors say Mortgage rates are hovering around 3.125%. This rate varies and can be reduced with a buy-down, or affected by individual qualifiers. I’m happy to connect you with someone to discuss your particular situation.
According to the RMLS Market Action Report for the Portland Metro Area, March 2021:
LAKE OSWEGO
The combined areas of Lake Oswego and West Linn for the month of March 2021 reported:
NEW April 5-11, 2021
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 526 S State ST 5A | $314,950 | 2 | 1 | 914 | CONDO |
| 225 CERVANTES | $319,000 | 2 | 1.1 | 1216 | CONDO |
| 3101 MCNARY PKWY #6 | $399,900 | 3 | 2.1 | 1532 | CONDO |
| 76 GREENRIDGE CT | $674,900 | 4 | 3.1 | 2868 | ATTACHD |
| 16041 WALUGA DR | $679,000 | 4 | 2 | 1982 | DETACHD |
| 9 FALSTAFF ST | $759,000 | 4 | 2.1 | 2436 | DETACHD |
| 18634 Bryant RD | $775,000 | 3 | 2.1 | 2858 | DETACHD |
| 19233 INDIAN SPRINGS RD | $799,950 | 4 | 4.1 | 3423 | DETACHD |
| 537 COUNTRY CLUB RD | $849,000 | 3 | 2 | 1901 | DETACHD |
| 100 LEONARD ST, Upper Lvl | $965,000 | 3 | 2.1 | 2482 | CONDO |
| 524 WEIDMAN CT | $979,000 | 4 | 2.1 | 3450 | DETACHD |
| 6 DOVER WAY | $1,795,000 | 4 | 3.1 | 4499 | DETACHD |
| 17979 S CRESTLINE DR | $3,045,000 | 4 | 3 | 4858 | DETACHD |
PENDING April 5-11, 2021
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 366 CERVANTES CIR | $210,000 | 2 | 1 | 832 | CONDO | 2 |
| 4 TOUCHSTONE #82 | $258,000 | 3 | 2.1 | 1351 | CONDO | 238 |
| 5840 SW BURMA RD | $475,000 | 3 | 1.1 | 1632 | DETACHD | 47 |
| 19255 BENFIELD AVE | $499,000 | 3 | 2 | 1840 | DETACHD | 36 |
| 5720 KENNY ST | $499,900 | 3 | 2 | 1416 | DETACHD | 3 |
| 19242 TERRY AVE | $619,900 | 4 | 2 | 1872 | DETACHD | 2 |
| 143 DEL PRADO ST | $621,500 | 3 | 2 | 1907 | DETACHD | 0 |
| 17 ABELARD ST | $650,000 | 3 | 2 | 2122 | DETACHD | 2 |
| 4688 OAKRIDGE RD | $675,000 | 3 | 2 | 1788 | DETACHD | 17 |
| 17608 SYDNI CT | $675,000 | 4 | 2.1 | 2466 | ATTACHD | 19 |
| 5316 LOWER DR | $699,000 | 3 | 2.1 | 2016 | DETACHD | 15 |
| 1268 HIDE A WAY CT | $759,900 | 4 | 2.1 | 2423 | DETACHD | 6 |
| 115 FURNACE ST 2N | $819,000 | 2 | 2.1 | 1885 | CONDO | 30 |
| 5 Mountain View LN | $849,000 | 5 | 3.1 | 3850 | DETACHD | 61 |
| 672 1ST ST | $850,000 | 2 | 2.1 | 1986 | CONDO | 4 |
| 12793 SIERRA VISTA DR | $899,900 | 4 | 3.1 | 3650 | DETACHD | 3 |
| 10 YORICK ST | $925,000 | 5 | 3.1 | 4023 | DETACHD | 19 |
| 1515 CHERRY LN | $925,000 | 5 | 3.1 | 4699 | DETACHD | 4 |
| 12624 SW 22ND AVE | $945,000 | 4 | 3.1 | 3665 | DETACHD | 4 |
| 5544 KILCHURN AVE | $995,000 | 4 | 2.1 | 3308 | DETACHD | 4 |
| 115 ASH ST | $1,025,000 | 4 | 3 | 4469 | DETACHD | 7 |
| 18041 CARDINAL DR | $1,095,000 | 3 | 2.1 | 1950 | DETACHD | 1 |
| 1061 YATES ST | $1,100,000 | 4 | 3.1 | 2899 | DETACHD | 14 |
| 4431 BERNARD ST | $1,149,000 | 4 | 3 | 2840 | DETACHD | 23 |
| 486 LAKE BAY CT | $1,150,000 | 3 | 2 | 1603 | DETACHD | 4 |
| 1255 Bickner ST | $1,199,000 | 4 | 2.1 | 2764 | DETACHD | 58 |
| 18958 BRYANT RD | $1,199,900 | 4 | 2.1 | 3178 | DETACHD | 13 |
| 1992 PALISADES TERRACE DR | $1,250,000 | 5 | 3.1 | 4140 | DETACHD | 7 |
| 13613 PROVINCIAL HILL WAY | $1,550,000 | 6 | 3.1 | 4534 | DETACHD | 4 |
| 15400 DIAMOND HEAD RD | $2,100,000 | 4 | 3.1 | 3358 | DETACHD | 1 |
| 95 IRON MOUNTAIN BLVD | $2,195,000 | 5 | 4.1 | 5710 | DETACHD | 184 |
| 15780 TWIN FIR RD | $2,769,900 | 4 | 4.1 | 4270 | DETACHD | 44 |
SOLD April 5-11, 2021`
| Address | Opening Price | Closed Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 47 EAGLE CREST DR #43 | $209,500 | $212,000 | 2 | 1 | 1017 | CONDO | 3 |
| 4000 CARMAN DR G101 | $248,900 | $260,000 | 2 | 2 | 869 | CONDO | 4 |
| 4644 LOWER DR, Upper Lvl | $260,000 | $285,000 | 2 | 1.1 | 1170 | CONDO | 5 |
| 578 2ND ST | $539,900 | $539,900 | 2 | 2.1 | 1361 | PLNCOMM | 6 |
| 853 E AVE | $650,000 | $650,000 | 2 | 1 | 750 | DETACHD | 6 |
| 2679 GLEN EAGLES RD | $729,900 | $702,000 | 3 | 3 | 2378 | DETACHD | 277 |
| 18975 OLSON AVE | $600,000 | $736,000 | 6 | 3 | 3569 | DETACHD | 5 |
| 33 TOUCHSTONE | $699,900 | $770,000 | 5 | 4 | 3854 | DETACHD | 5 |
| 4749 BLACK FOREST CT | $715,000 | $775,000 | 4 | 2.1 | 2255 | DETACHD | 5 |
| 5796 BAY POINT DR | $775,000 | $843,000 | 4 | 2.1 | 2399 | DETACHD | 2 |
| 16631 FORD PL | $899,900 | $920,000 | 4 | 2.1 | 3180 | DETACHD | 4 |
| 4184 VIRGINIA WAY | $849,900 | $976,000 | 4 | 2 | 1700 | DETACHD | 5 |
| 2240 RIDGEWOOD RD | $939,000 | $1,075,000 | 4 | 3.1 | 2777 | DETACHD | 2 |
| 100 GARIBALDI ST | $1,175,000 | $1,210,000 | 5 | 3.2 | 4572 | DETACHD | 3 |
| 15420 BOONES WAY | $1,345,000 | $1,325,000 | 3 | 2.1 | 3364 | ATTACHD | 43 |
| 419 7TH ST | $1,350,000 | $1,350,000 | 4 | 2.1 | 2813 | DETACHD | 11 |
| 17010 Canal CIR | $1,595,000 | $1,665,000 | 4 | 3.1 | 3746 | DETACHD | |
| 1947 Summit DR | $1,795,000 | $1,716,000 | 4 | 5.1 | 5570 | DETACHD | 150 |
| 16655 MAPLE CIR | $3,498,000 | $3,170,000 | 3 | 3.1 | 3100 | 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.
This year is the 32nd year that Lake Oswego has maintained the designation of “Tree City USA”. To have this designation a city must maintain four standards: have a Tree Board that brings together Parks, Recreation, and a Natural Resources Advisory Board; have a tree ordinance; spend a minimum of $2 per capita on urban forest management; and proclaim and celebrate Arbor Day annually.
Arbor Day is the last Friday in April, and April is Arbor Month. There are numerous ways that Lake Oswego is celebrating.
April 24th, 10am to 12pm, at the Pavilion at Foothills Park. Due to covid, attendance is limited and pre-registration is required. Pruning and maintaining trees is crucial, not just for the health of the tree, but truly for the safety of the home. Our big ice storm last month was a perfect example. Lake Oswego has lots and lots of trees. That ice storm took down so many limbs and many of those limbs were distructive to property, not to mention the power outages. At my home, we had an arborist clean up our trees about 5 years ago. I have 5 huge trees on my property. In the ice storm, not one limb came down. Not one. To register for this workshop telephone 503-635-0290 or email planning@lakeoswego.city. The class is free
Gnomes are being hidden at three parks: Foothills, River Run, and Stevens Meadows. The gnomes have names: Blossom, Greenie, and Oak. Between now and October get out to enjoy the parks and when you find a gnome, take your picture with the gnome and post it to social media using the hashtag #LOparksgnomes. Each time you post this hashtag you will be entered into a contest to win your very own gnome. Did you know that LO has over 460 acres of natural park areas? Visit lo-stewardship.org for park locations, gnome clues, and to learn more about each gnome.
Lake Oswego has annually been designating trees as “Heritage Trees” for 40 years. They are magnificent and each year when a tree is designated I like to go and see it. Most are on private property, so viewing them is done from the street, but wow, they are gorgeous. This years tree is a 55′ tall Japanese Zelkova that measures 6′ 10″ in circumference and has a crown with a 60′ spread. It is located at 3209 Lake Grove Blvd. To see a complete list of the Heritage Trees and where they are located, visit lakeoswego.city/planning/heritage-tree-program.
I honestly think that people move to Oregon, not just Lake Oswego, because they love the natural beauty and being in the outdoors. We’re now moving into the time of year when going outside is such a pleasure! I’m proud that my city, Lake Oswego, knows this and values its natural resources. Three cheers for LO and Tree City USA!
Dianne