Category: Market Activity

Real Estate Market Statistics for Lake Oswego, Oregon

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News & Notes ~ August 2016

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

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

  • There were 4,203 New Listings in August which was down 3.9% from July, and up 8.3% from August of 2015.
  • At 3,001, August Closed Sales were up 8.1% from July’s 2,776, and down 3.1% from August of 2015’s 3,098.
  • August Pending Sales (Accepted Offers), at 3,325 were up  0.7% from July’s 3,302, and were also  0.7% lower than August of 2015’s 3,347.
  • The Average Sale Price in August of $400,100 was down $7,000 from July’s $407,100, and also up around $35,500 from August of 2015’s $364,600. 

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

    •  452 Active Listings (July/410)
    •  229 New Listings    (July/288)
    •  162 Pending Sales  (July/189)
    •  166 Closed Sales     (July/165)
    • Average Sale Price for August: $619,600   (July/ $650,200)
      • 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: 59 Days  (July /45)
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Market Activity ~ Sept 5-11, 2016

Last week we saw 13 New properties enter the market, 12 move to Pending status, and 13 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Sept 5-11, 2016)

Address List Price # Beds # Baths Total SF Prop Type
86 KINGSGATE RD #i204 $159,000 2 2 840 CONDO
4 TOUCHSTONE #140 $185,000 3 2.1 1351 CONDO
76 GALEN ST #76 $199,900 2 2 989 CONDO
16250 PACIFIC HWY #43 $255,000 2 2 1311 CONDO
16724 ROOSEVELT AVE $379,995 3 1.1 1270 DETACHD
31 GREENRIDGE CT $449,000 3 2.1 2002 ATTACHD
15450 KIMBALL CT $475,000 4 2 1544 DETACHD
7 SCARBOROUGH DR $754,900 4 2.1 3367 DETACHD
4265 ALBERT CIR $826,600 5 3.1 3022 DETACHD
4635 DOGWOOD DR $950,000 4 3 4327 DETACHD
716 LAKE SHORE RD $999,000 3 2 1860 DETACHD
18840 HILL TOP RD $1,195,000 3 3.1 4216 DETACHD
19371 RIVERWOOD LN $1,300,000 4 4.1 5034 DETACHD

PENDING SALES (Sept 5-11, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4619 LAKEVIEW BLVD #Grnd $119,000 1 1 753 CONDO 30
354 CERVANTES CIR #1C $158,000 2 1.1 912 CONDO 9
94 GREENRIDGE CT $369,000 3 2 1752 ATTACHD 6
17 ORIOLE LN $425,000 3 2.1 1800 DETACHD 3
6423 FROST ST $539,000 3 2.1 2548 DETACHD 304
950 LAKE FRONT RD $549,900 4 2.1 2112 DETACHD 34
5267 LAKEVIEW BLVD $879,900 4 3.1 3454 DETACHD 29
2639 PALISADES CREST DR $948,000 5 4.1 5615 DETACHD 7
13079 AMBER PL $948,000 5 3 3200 DETACHD 165
14112 HEATHROW LN $1,149,000 5 3.1 4828 DETACHD 133
1666 LAKE FRONT RD $1,279,000 4 3 3183 DETACHD 27
610 4TH ST $1,575,000 4 2.1 3394 DETACHD 31

SOLD (Sept 5-11, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
14 OSWEGO SMT $165,000 $180,000 1 1 764 CONDO 6
12824 SW BOONES FERRY RD $314,999 $300,000 2 2.1 1398 ATTACHD 7
3765 LANEWOOD ST $395,000 $405,000 3 2 1482 DETACHD 3
668 MCVEY AVE #52 $450,000 $448,000 3 1.1 992 CONDO 116
4951 BILFORD LN $469,000 $485,000 2 2 1823 DETACHD 4
653 3RD ST $575,000 $520,000 3 2 1270 DETACHD 95
14 WALKING WOODS DR $550,000 $536,000 4 3 2930 DETACHD 32
2063 RIDGEWOOD RD $699,000 $670,000 4 2.1 2532 DETACHD 28
2329 STONEHURST CT $825,000 $785,000 4 3 3622 DETACHD 23
3600 SOUTHSHORE BLVD $995,000 $1,000,000 3 2.1 2117 DETACHD 5
729 3RD ST $1,061,110 $1,052,208 3 3 2748 DETACHD 0
3119 WEMBLEY PARK RD $1,100,000 $1,100,000 4 3.1 3633 DETACHD 1
877 9TH ST $1,150,000 $1,150,000 3 2.1 2762 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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Market Activity Aug 22-28, 2016

We had a bit of a dip in new listings last week with just 11 properties coming onto the market. That, along with the Labor Day weekend and the start of school, really makes me feel like summer is winding down. Pending sales as well as closed sales held steady with 22 houses going pending and 21 houses closed. Have a safe and happy holiday everyone!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 22-28, 2016)

Address Type Price BR Baths Sq Ft
48 Eagle Crest Dr 2F Condo $279,900 3 2 1673
15711 Boones Way Detached $499,000 3 2 1973
625 10th St Detached $525,000 3 1.5 1128
4660 Wildwood St Detached $545,000 5 2 2412
1031 Oxford Dr Detached $559,900 3 2.5 2564
87 Tanglewood Dr Detached $575,000 4 3.5 2654
9 Spinosa Detached $595,000 2 2.5 2250
32 Wilbur St Condo $635,000 2 2.5 2671
16510 Maple Circle Detached $679,000 4 3 2295
8 Pimlico Terrace Detached $699,900 5 3 3120
4620 Dogwood Dr Detached $972,500 4 2.5 3613

Pending Sales (Aug 22-28, 2016)

Address Type Price BR Baths Sq Ft CDOM
47 Eagle Crest Dr #13 Condo $154,900 2 1 932 45
4000 Carman Dr #1 Condo $199,900 2 2 834 34
221 Cervantes Condo $265,000 2 2.5 1240 14
1543 Bonniebrae Dr Attached $287,500 3 1.5 1303 22
16443 Lake Forest Blvd Detached $395,000 3 2 1474 4
1248 Ash St Detached $399,950 2 1 1631 98
4291 Collins Way Detached $405,000 3 2 1482 5
4752 Rembrandt Detached $439,900 3 2.5 1655 3
17335 Ashley Ct Attached $455,000 4 3 2161 113
16287 Bonaire Ave Detached $495,000 4 3 2100 53
1935 Fernwood Dr Detached $495,900 4 3 2100 53
13142 Peters Rd Detached $499,900 4 2.5 2412 17
950 Lake Front Rd Detached $549,900 4 2.5 2112 21
510 Country Club Rd Detached $560,000 4 3 3274 105
5581 Yorkshire Pl Detached $585,000 4 2.5 3218 69
16 Independence Ave Detached $650,000 5 3 3979 65
4279 Albert Circle Detached $685,000 3 2.5 2768 45
5 Cellini Ct Detached $709,900 5 3.5 4659 178
17170 Wall St Detached $835,000 4 3.5 3446 12
1131 Northshore Rd Detached $1,249,000 4 3 3850 374
13197 Thoma Rd Detached $1,495,000 4 3 3560 348
980 Evergreen Rd Detached $2,280,000 4 5.5+.5 5644 90

Sold/Closed(Aug 22-28, 2016)

Address Type List Price Sold Price Sq Ft CDOM
47 Eagle Crest Dr #7 Condo $88,897 $90,000 932 92
366 Cervantes Cir 14C Condo $160,000 $160,000 832 2
3433 McNary Pkwy #304 Condo $205,000 $205,000 1,208 3
4000 Carman Dr #26 Condo $289,000 $210,000 836 3
45 Eagle Crest Dr #509 Condo $299,900 $285,000 1379 264
4341 Woodside Circle Condo $359,000 $360,000 1532 6
18610 Benfield Ave Detached $419,000 $432,100 1407 17
5895 Burma Rd Detached $459,900 $440,000 1,781 43
1710 Yarmouth Cir Detached $495,000 $485,500 1540 52
13379 Thoma Rd Detached $494,900 $526,000 2594 44
4951 Galen St Detached $589,900 $535,000 2543 52
4889 Hampton Ct Detached $543,000 $550,000 2206 4
22 Partridge Ln Detached $569,900 $574,900 3334 101
397 Livingood Ln Detached $590,000 $616,000 2631 2
5519 Bay Creek Dr Detached $784,900 $777,400 3415 14
15468 Boones Way Attached $800,000 $800,000 2432 44
5086 Hastings Ct Detached $849,900 $830,000 3255 18
4378 Albert Circle Detached $862,000 $862,000 3734 0
906 Cedar St Detached $950,000 $950,000 2829 247
1626 Englewood Dr Detached $1,450,000 $1,300,000 5690 14
17210 Cedar Rd Detached $1,875,000 $1,675,000 2813 165

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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Market Activity Aug 1-7, 2016

We are having a rather perfect summer here in LO. Temperatures have been mostly mild, staying in the 70’s and 80’s, the free summer concert series is in full swing, and the boats are lined up on gorgeous summer evenings at the dock at Stickmen’s. Gotta enjoy every moment, including the real estate activity. Last week LO had 17 new listings, 15 houses go to pending status, and 20 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (August 1-7, 2016)

Address Type Price BR Baths Sq Ft
100 Kerr Parkway #51 Condo $149,950 1 1 617
75 Galen St Condo $184,500 2 2 993
217 Cervantes Condo $219,000 2 1.5 1204
1543 Bonniebrae Attached $295,000 3 1.5 1303
4341 Woodside Circle Condo $359,000 3 2 1532
98 Greenridge Ct Attached $365,000 3 2.5 2000
4323 Lakeview Blvd Detached $499,000 4 2 1483
2395 Greentree Rd Detached $539,000 4 2.5 2832
950 Lake Front Rd Detached $549,000 4 2.5 2112
5051 W Sunset Dr Attached $550,000 2 2.5 1734
17821 Sundown Ct Detached $625,000 4 2.5 3368
10 Buckingham Terrace Detached $719,900 4 3 3428
19233 Indian Springs Rd Detached $789,000 4 4.5 3485
5435 Westfield Ct Detached $790,000 4 3 2796
1555 Country Commons Detached $1,399,000 3 2.5 4191
610 4th St Detached $1,600,000 3 2.5 3394
17979 Crestline Dr Detached $2,050,000 4 3 5905

Pending Sales (August 1-7, 2016)

Address Type Price BR Baths Sq Ft CDOM
44 Eagle Crest Dr #38 Condo $166,000 1 1 798 3
4314 Botticelli St Condo $334,950 3 3.5 2098 7
3765 Lanewood St Detached $395,000 3 2 1482 3
18851 Pilkington Rd Detached $399,000 3 2 1679 5
4231 Woodside Circle Condo $405,000 3 2 1943 22
16652 Bryant Rd Detached $440,000 2 2 2411 5
532 2nd St Condo $465,000 2 2.5 1395 14
534 2nd St Condo $469,000 2 2.5 1394 62
700 Briarcliff Ln Detached $529,900 3 3 2132 41
4962 Harvard Ct Detached $535,000 4 2.5 2522 42
17486 Cardinal Dr Detached $575,000 5 3 2327 14
18121 Pioneer Ct Detached $648,000 4 2.5 2310 41
49 Hillshire Dr Detached $672,500 4 2.5+.5 4268 48
15985 Bonaire Ave Detached $835,000 3 2.5 2910 0
151 Berwick Rd Detached $999,500 4 3 4387 37

Sold/Closed (August 1-7, 2016)

Address Type List Price Sold Price Sq Ft CDOM
42 Cervantes Circle Condo $155,000 $157,000 912 5
3940 Carman Dr Condo $229,900 $229,900 1,132 13
24 Condolea Dr Condo $275,000 $303,000 1,448 5
2255 Greentree Rd Detached $450,000 $412,500 2309 14
1190 Oak Terrace Detached $460,000 $420,000 1534 11
1160 Oak Terrace Detached $450,000 $420,000 1654 7
17470 Hill Way Detached $398,000 $430,000 1561 4
17312 Chapin Way Detached $559,000 $591,000 1,854 5
12870 Elk Rock Rd Detached $950,000 $785,000 2742 310
2023 Ridgewood Rd Detached $878,000 $820,000 4340 115
5321 Carman Grove Ln Detached $800,000 $824,000 2824 0
17981 Meadowlark Ln Detached $825,000 $835,000 3250 4
4069 Pfeifer Ct Detached $1,125,000 $860,000 4332 102
4688 Chelsea Ln Detached $915,000 $885,000 3549 34
610 Atwater Rd Detached $995,000 $992,000 2969 35
784 3rd St Detached $1,249,000 $1,200,000 4138 72
4431 West Bay Rd Detached $1,695,000 $1,375,000 3098 367
2707 Southshore Blvd Detached $1,449,000 $1,400,000 3122 47
711 7th St Detached $1,549,000 $1,425,000 3097 2
1455 Lake Front Rd Detached $3,200,000 $2,600,000 6145 1085

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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Tips & Tidbits ~ Seasonal Changes

SummerSeasonal Changes –

Sellers~The market has been unusually activated since about January of this year. In the summer (starting approx July 4th weekend) things typically slow down just a teensy bit as people leave for vacation and many have found the homes they were looking for prior to the school-year-start in September (ie the pool of Buyers lessens some).  Sellers who put their homes on the market now will still find plenty of interest as you can ascertain from our Market Activity Reports, and/but may be disappointed if they do not have a bidding war as they’ve been hearing about for awhile now.  I’m not saying the market is not still good for selling, (and, there ARE ways to encourage multiple Offers at any time of year) …just be prepared for the slight change in atmosphere, which sometimes translates to not quite as much leverage when you’re the Seller.  ***That said, it is all case-by-case. Why is the Buyer buying?  Do they need to be settled before the school year starts?  Have they lost out on other deals due to competitive bidding? You may or may not be able to find out, but if you DO know the answers to some of these questions, it can help you respond to your highest advantage. Trust your Realtor, or if you don’t have one, give me or one of us a call and we’ll be happy to help you through the changing landscape.

Buyers~A Buyer’s perspective is a little different.  If you’ve been out looking and fighting for houses and losing, now may be your moment.  As I mentioned above, the market has been hyper-active for a while now.  As we move toward Fall, a couple of factors are in your favor. The first is that the pool of Buyers is lessening a bit for the reasons I mentioned above. This means you may not  be in a competitive situation, or it may be with fewer Buyers if you are. Use the lessons you’ve learned already through trial and error. Make your Offer as strong as you are comfortable with.  Talk to your Realtor (or to myself or one of us if you do  not have a Realtor) and we can walk you through some ways to do that. Talk to your lender once again and revisit your strategy.  If you are unsure of how your Offer price would impact you as far as your monthly payment is concerned, I always suggest having 3 dollar-amount scenarios drawn up.  I find that most Buyers are surprised at how little their monthly payment is affected by making what seems to them to be a big jump in their Offer price. Bottom line: you need to be comfortable with your Offer.  AND, you may be surprised at what the possibilities are for you, and sometimes this can make a difference in getting the home you really want in a still-competitive market.

Looking GlassOther Factors~Appraisals are really becoming more of an issue than even a month or so ago when Dianne mentioned them in a post herein.  I advise my Buyer clients to talk to their lender about expediting their Appraisal in nearly every case. This costs money, so you need  to assess what you can and are willing to do, but it is often a hundred or two dollars, and can mean the difference between Closing on time or not. ***That said, I have heard multitudes of horror stories in the last few weeks about Appraisals taking **weeks or months** longer unless someone pays an exorbitant amount sometimes in the thousands of dollars.  I don’t mean to scare anyone. I just averted a near-disaster in this regard, and having a Realtor and lender with their eyes on the ball in this market is imperative, but this is apparently happening if there are any variables at all in a transaction that will limit the appropriate Appraisers who might be available/qualified etc. Sometimes the type of loan (VA, FHA, USDA) can limit the pool of Appraisers (I’m told) as can location of the property (is it outside of the metro area?).

The reasons for this mess are varied, but it apparently boils down to supply and demand, coupled with the newer regulations on mortgage companies. No longer can a mortgage company call an Appraiser they happen to know is familiar with a particular neighborhood or area of town. For everyone’s protection (to prevent collusion/nefarious behaviour/trying to get a particular value out of the Appraiser) mortgage companies now have to put the order in to an “Appraisal Scheduling” company. That company has a stable of Appraisers, and it is all handled mechanically.  There is apparently a dearth of Appraisers due to more stringent requirements for becoming an Appraiser (I’m told), and therefore the stacks on Appraisers desks are getting higher and their time and availability to run out to more rural areas or even here in town is more scarce.

Best to set a longer timeframe for Closing to be on the safe side if you can (talk to your Realtor about what makes sense in your particular situation), and order it right away. Ordering it right away may mean that you are risking the money you pay for the Appraisal (instead of waiting till after you’ve inspected enough to know you want to proceed), but, depending on your unique circumstance, it may be your best bet.

Hope this info was helpful.

Very Best,

Linda

 

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Market Activity ~ July 25-31, 2016

Beautiful homes in Lake Oswego… They come on the market… and they pass into the care of excited new owners. Its a wonderful thing ; )

Last week we saw 18 New properties enter the market, 24 move to Pending status, and 19 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 25-31, 2016)

Address List Price # Beds # Baths Total SF Prop Type
45 EAGLE CREST DR #211 $219,000 2 2 1046 CONDO
5432 KENNY ST $379,900 3 1 1352 DETACHD
17766 ARBOR LN $509,900 3 2 1561 DETACHD
17911 LAKE HAVEN DR $563,000 4 2.1 2136 DETACHD
905 COUNTRY CLUB RD $599,500 3 2.1 2817 DETACHD
4801 Heritage LN $627,500 3 2.1 2205 DETACHD
19 WESTRIDGE DR $659,999 4 3 3711 DETACHD
1900 GREENTREE RD $695,000 4 3 3032 DETACHD
17372 HUNTER CT $699,000 3 2.1 3292 DETACHD
952 A AVE $739,900 3 2 2900 DETACHD
17771 MARYLCREEK DR $765,000 4 3.1 4398 DETACHD
2033 RIDGEWOOD RD $775,000 4 2.1 2668 DETACHD
2329 STONEHURST CT $825,000 4 3 3622 DETACHD
737 ASH ST $825,000 4 2 2428 DETACHD
840 BOCA RATAN DR $849,900 4 3.1 4114 DETACHD
18260 River Edge CT $949,000 4 3.1 4711 DETACHD
115 3rd ST #115 $999,000 4 2.1 2453 CONDO
1515 CHERRY LN $1,350,000 5 3.1 5593 DETACHD

PENDING SALES (July 25-31, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE DR #108 $136,000 3 2.1 1351 CONDO 26
47 EAGLE CREST DR #21 $149,000 2 1 932 CONDO 767
3974 CARMAN DR $229,900 2 2.1 1107 CONDO 31
193 OSWEGO SMT $235,000 2 2 1383 CONDO 6
!B $269,000 3 2 1538 CONDO 10
2 SW MOUNTAIN CIR $299,000 2 1.1 1372 ATTACHD 16
5060 FOOTHILLS DR #96 $305,000 3 2 1252 CONDO 2
5495 TREE ST $355,000 3 1.1 1388 DETACHD 3
15422 PARTRIDGE DR $475,000 4 2.1 1872 DETACHD 17
1935 FERNWOOD DR $495,000 4 3 2100 DETACHD 26
5028 GREENSBOROUGH CT $524,900 4 2.1 2358 DETACHD 43
14 WALKING WOODS DR $536,000 4 3 2930 DETACHD 32
4 Essex CT $549,900 4 2.1 2835 DETACHD 7
4951 GALEN ST $549,900 3 2.1 2543 DETACHD 52
3845 TEMPEST DR $574,000 4 2.1 2000 DETACHD 11
13040 PRINCETON CT $674,900 4 2.1 3135 DETACHD 32
2063 RIDGEWOOD RD $679,000 4 2.1 2532 DETACHD 28
4090 BUCK BRUSH LN $699,000 4 3 3128 DETACHD 5
5955 SUNBROOK DR $780,000 4 3 3110 DETACHD 2
5350 LAKEVIEW BLVD $799,000 7 3.5 3005 DETACHD 6
17259 LOWENBERG TER $895,000 4 2.1 2955 DETACHD 5
1049 NORTHSHORE PL $939,900 3 4 2274 DETACHD 13
1774 RIDGECREST DR $1,250,000 2 2 2053 DETACHD 6
12850 FIELDING RD $2,500,000 9 9.2 19444 DETACHD 7

SOLD (July 25-31, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
20 CRESTFIELD CT/Upper $175,000.00 $175,000.00 2 1.1 923 CONDO 7
61 OSWEGO SMT #61 $215,000.00 $196,000.00 2 2 1212 CONDO 28
3930 CARMAN DR $229,900.00 $224,000.00 2 2.1 1146 CONDO 67
44 GREENRIDGE CT $369,000.00 $380,000.00 3 2.1 1996 ATTACHD 1
40 WHEATHERSTONE $389,900.00 $385,000.00 3 2.1 1692 CONDO 37
86 GREENRIDGE CT $399,000.00 $414,000.00 3 2 2652 ATTACHD 1
15393 MEADOWLARK CT $474,500.00 $474,900.00 2 2 1576 DETACHD 2
1412 MAPLE ST $475,000.00 $475,000.00 3 1.1 1540 DETACHD 1
386 LIVINGOOD LN $519,000.00 $519,000.00 4 3 2452 DETACHD 5
775 HEMLOCK ST $499,900.00 $536,000.00 3 2 2038 DETACHD 4
320 DURHAM ST #2 $569,500.00 $562,000.00 3 2.1 1876 CONDO 9
4199 FRUITWOOD CT $525,000.00 $565,000.00 3 2 2230 DETACHD 6
1641 ASH ST $575,000.00 $595,000.00 4 3 2764 DETACHD 5
3 SCARBOROUGH DR $685,000.00 $600,000.00 5 4 3778 DETACHD 35
659 4TH ST $785,000.00 $812,475.00 3 2.1 2388 DETACHD 5
13607 MELROSE PL $869,500.00 $825,000.00 4 3.1 3892 DETACHD 25
412 8TH ST $948,000.00 $888,000.00 3 2.1 2580 DETACHD 33
18360 RIVER EDGE LN $1,029,000.00 $995,000.00 4 2.1 3948 DETACHD 3
448 COUNTRY CLUB RD $1,595,000.00 $1,400,000.00 4 3.1 4873 DETACHD 41

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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Market Activity July 11-17, 2016

There is been lots of media coverage of late talking about our house prices and how they are climbing quickly. That is holding true throughout the Portland area and Lake Oswego is no exception. It is summer and the real estate market is hot. We are continuing to see high demand and the good news is that the new listings continue to happen. Last week LO had 30 new listings, 27 houses go into pending status, and 21 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (July 11-7, 2016)

Address Type Price BR Baths Sq Ft
54 Galen St Condo $248,000 2 2 995
48 Eagle Crest Dr 1B Condo $269,000 3 2 1538
668 McVey Ave #64 Condo $279,900 1 1 636
12824 Boones Ferry Rd Attached $298,000 2 2.5 1398
2 Mountain Circle Attached $299,000 2 1.5 1372
16250 Pacific Hwy #76 Condo $299,900 3 2 1767
19377 Sycamore Ave Detached $360,000 3 1 1008
67 Greenridge Ct Attached $369,000 3 2.5 2004
4231 Woodside Circle Condo $405,000 3 2 1943
17311 Mandi Ln Detached $429,000 3 2.5 1935
1160 Oak Terrace Detached $450,000 3 2 1654
16041 Waluga Dr Detached $454,900 4 2 1982
1190 Oak Terrace Detached $460,000 4 2 1654
15422 Partridge Dr Detached $500,000 4 2.5 1872
4950 Centerwood St Detached $523,500 3 2 1871
19235 Redwing Ct Detached $549,900 4 2 2084
14588 Wilmot Way Detached $558,000 5 3 2238
3845 Tempest Dr Detached $574,000 4 2.5 2000
350 6th St Detached $589,900 4 2 2304
6126 Frost Ln Detached $639,000 5 3 2493
2981 Vale Ct Detached $739,900 5 2.5 3516
16980 Maple Circle Detached $839,000 4 2 2500
5844 Bay Point Dr Detached $869,000 3 2.5 3375
18025 Sarah Hill Ln Detached $899,900 4 3.5 3442
1049 Northshore Pl Detached $939,900 3 4 2274
16827 Scott Ct Detached $1,000,000 4 3.5 4179
17432 Kelok Rd Detached $1,025,000 3 2.5 2884
876 9th St Detached $1,099,900 4 2.5 2699
834 6th St Detached $1,099,900 4 2.5 2679
3155 Upper Dr Detached $1,100,000 4 3 2950

Pending Sales (July 11-17,, 2016)

Address Type Price BR Baths Sq Ft CDOM
47 Eagle Crest Dr #7 Condo $88,897 2 1 932 92
47 Eagle Crest Dr Condo $159,900 3 1 1024 3
172 Oswego Summit Condo $166,200 2 2 1383 0
4000 Carman Dr #71 Condo $189,900 2 2 834 2
750 1st St #A12 Condo $279,900 2 2 1350 30
1652 Bonniebrae Dr Attached $279,900 4 1.5 1303 11
40 Weatherstone Condo $385,000 3 2.5 1692 37
4974 Suntree Ln Attached $409,950 2 2.5 1652 53
4841 Dawn St Detached $425,000 3 2 1550 6
653 3rd St Detached $549,000 3 2 1270 95
16921 Kara Ln Detached $569,000 3 2.5 2382 31
22 Partridge Ln Detached $569,900 4 2.5 3334 101
300 4th St Attached $600,000 2 2.5 1731 0
18521 Waxwing Circle Detached $600,000 3 2.5 2936 63
1002 Hemlock St Detached $624,900 3 2.5 1950 4
12140 Orchard Hill Way Detached $644,000 4 2.5 3169 8
5086 Hastings Ct Detached $825,000 4 2.5 3255 18
13607 Melrose Pl Detached $869,500 4 3.5 3892 25
1520 Eastview Ct Detached $889,000 4 4 3750 29
906 Cedar St Detached $950,000 4 3.5 2829 247
610 Atwater Rd Detached $995,000 3 2.5 2969 35
3600 Wembley Park Rd Detached $1,100,000 4 3.5 3633 1
14599 Doris Ave Detached $1,143,000 5 3.5 3903 0
356 9th St Detached $1,280,000 3 3.5 3647 101
2575 Summit Dr Detached $2,395,000 4 4.5+.5 6185 151

Sold/Closed (July 11-17,, 2016)

Address Type List Price Sold Price Sq Ft CDOM
44 Eagle Crest Dr Condo $159,900 $158,000 908 57
342 Cervantes Circle Condo $185,000 $185,000 1,104 33
309 Cervantes Circle Condo $229,900 $229,900 1,209 9
4322 Silver Ct Condo $339,900 $350,000 1996 13
5295 Oakridge Rd Detached $394,900 $405,000 1182 6
13278 Vermeer Dr Detached $469,900 $520,000 1856 8
2302 Overlook Dr Detached $579,000 $546,700 3125 334
4231 Sunset Dr Detached $599,000 $550,000 2,272 18
4571 Oakridge Rd Attached $560,000 $560,000 2092 4
32 Spinosa Detached $549,500 $570,000 2542 8
32 Morningview Circle Detached $599,900 $587,500 2783 69
4252 Albert Circle Detached $689,000 $590,000 2964 28
1469 Greentree Circle Detached $599,900 $610,000 1808 5
4070 Westbay Rd Detached $659,000 $629,000 1828 105
839 Country Commons Ln Detached $710,000 $660,000 3089 0
29 Del Prado St Detached $650,000 $682,500 3037 6
1623 Glenmorrie Dr Detached $850,000 $850,000 5677 23
3788 Southshore Blvd Detached $915,000 $881,500 3224 17
16686 Maple Circle Detached $1,195,000 $1,095,000 3311 290
3555 Lake Grove Ave Detached $1,199,000 $1,100,000 3324 83
1617 Lake Front Rd Detached $3,250,000 $3,000,000 4619 6

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 ~ June 2016

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

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

  • There were 4,501 New Listings in June which was up 8.6% from May, and up 5.2% from May of 2015.
  • At 3,158, June Closed Sales were up 9% from May’s 2,896, and down 4.4% from June of 2015’s 3,302.
  • June Pending Sales (Accepted Offers), at 3,390 down  4.9% from May’s 3,563, and were also  6% lower than June of 2015’s 3,605.
  • The Average Sale Price in June of $412,000 was up $9,500 over May’s $402,500, and also up around $42,500 from June of 2015’s $369,500. 

_____________________________________________________

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

    •  410 Active Listings 
    •  288 New Listings   
    •  189 Pending Sales
    •  165 Closed Sales 
    • Average Sale Price for June: $650,200
      • 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: 45 Days
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Market Activity ~ July 4-10, 2016

Steady as she goes… In the summertime in beautiful, Lake Oswego : )

Last week we saw 22 New properties enter the market, 18 move to Pending status, and 18 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 4-10, 2016)

Address List Price # Beds # Baths Total SF Prop Type
44 EAGLE CREST DR #12 $139,888 1 1 798 CONDO
47 EAGLE CREST DR #13 $154,900 2 1 932 CONDO
4000 Carman DR #71 $189,900 2 2 834 CONDO
93 KINGSGATE RD $415,000 3 2.1 1669 DETACHD
4841 SW DAWN ST $425,000 3 2 1550 DETACHD
2255 GREENTREE RD $450,000 4 2.1 2309 DETACHD
17927 BELMORE AVE $489,000 3 1.1 1488 DETACHD
17760 CARDINAL DR $534,900 4 2.1 2199 ATTACHD
2132 GOODALL CT $566,500 4 3 2577 DETACHD
18521 WAXWING CIR $600,000 3 2.1 2936 DETACHD
1002 HEMLOCK ST $624,990 3 2.1 1950 DETACHD
1590 LARCH ST $640,000 5 2.1 2836 DETACHD
12140 ORCHARD HILL WAY $644,000 4 2.1 3169 DETACHD
4279 ALBERT CIR $685,000 3 2.1 2768 DETACHD
18183 WESTMINSTER DR $740,000 3 2.1 3191 DETACHD
5326 WESTFIELD CT $779,000 4 3.1 3259 DETACHD
17572 SHEPHERDS CT $879,900 4 3 2983 DETACHD
3600 SOUTHSHORE BLVD $995,000 3 2.1 2117 DETACHD
3 DOVER WAY $1,099,000 5 3.2 4988 DETACHD
1350 RIDGECREST DR $1,100,000 4 3.1 3534 DETACHD
721 7TH ST $1,249,000 4 3.1 4544 DETACHD
1640 COUNTRY CMNS $1,595,000 4 4.1 5343 DETACHD

PENDING SALES (July 4-10,, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #21 $149,000 2 1 932 CONDO 746
366 CERVANTES CIR #14c $160,000 2 1 832 CONDO 2
169 OSWEGO SMT #169 $164,998 2 2 1383 CONDO 79
88 GALEN ST/Upper $168,800 2 1 923 CONDO 2
71 GREENRIDGE CT $365,000 3 2.1 2004 CONDO 23
18610 BENFIELD AVE $419,000 3 1.1 1407 DETACHD 17
15393 MEADOWLARK CT $474,900 2 2 1576 DETACHD 2
18927 INDIAN CREEK AVE $475,000 3 2 2394 DETACHD 27
4188 COBB WAY $499,000 6 3 2577 DETACHD 51
6 WALKING WOODS DR $550,000 4 2.1 2870 DETACHD 54
18121 PIONEER CT $648,000 4 2.1 2310 DETACHD 15
5714 CHARLES CIR $649,900 4 3 2501 DETACHD 18
4801 WILDWOOD ST/Main $659,950 4 3 2963 DETACHD 45
3718 RIVERS EDGE DR $739,000 4 2.1 2512 DETACHD 9
5519 BAY CREEK DR $784,900 4 2.1 3415 DETACHD 14
4069 PFEIFER CT $879,000 5 3.1 4332 DETACHD 102
16830 CHAPIN WAY $949,000 5 3 3097 DETACHD 22
780 NORTHSHORE RD $2,222,000 3 2.1 2201 DETACHD 10

SOLD (July 4-10,, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #9 $145,000 $139,000 2 1.1 823 CONDO 5
2 St. Helens CIR $374,000 $375,000 3 2 1464 DETACHD 6
7 PEACOCK PL $400,000 $422,000 3 2.1 1388 DETACHD 4
2760 OVERLOOK DR $578,500 $532,000 4 2.1 2441 DETACHD 70
21 PARTRIDGE LN $554,900 $548,000 4 3 2478 DETACHD 5
14450 HOLLY SPRINGS RD $550,000 $550,000 3 3 2238 CONDO 78
4954 MULHOLLAND DR $589,900 $585,000 3 2.1 2498 ATTACHD 22
1430 WOODLAND TER $579,000 $592,000 5 3 2904 DETACHD 8
5950 SOUTHWOOD DR $775,000 $660,000 3 2.1 2731 DETACHD 40
17821 HILLSIDE WAY $699,900 $700,000 4 3.1 3480 DETACHD 2
19505 OLSON AVE $748,950 $720,000 5 2.1 2952 DETACHD 54
4719 LAKEVIEW BLVD $725,000 $725,000 3 2.1 2923 DETACHD 5
1269 LAKE GARDEN CT $899,000 $828,000 4 2.1 2056 DETACHD 202
336 5TH ST $875,000 $875,000 3 2.1 2018 DETACHD 100
2125 RIDGE POINTE DR $995,000 $945,000 3 3.1 3489 DETACHD 14
12747 SW 22ND AVE $1,249,800 $1,170,000 4 3.1 4546 DETACHD 362
454 9TH ST $1,198,000 $1,174,000 3 4 3278 DETACHD 25

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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Market Activity June 6-12, 2016

A slight slow down appears to have developed. I am often asked when our most active real estate market happens and it has held true for many years that it is May and June. For the last two years I think it has shifted to April and May. This does not mean that our market is now slow, not at all. It will remain strong and active through the summer with lots of houses coming on the market and lots of houses selling. I just think that we Oregonians do live in anticipation of our sunny season and are motivated to make a house move and then have the summer to play.

Last week Lake Oswego saw 22 new listings, 17 houses go into pending status, and 14 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (June 6-12, 2016)

Address Type Price BR Baths Sq Ft
20 Crestfield Ct Condo $175,000 2 1.5 923
309 Cervantes Cir Condo $229,900 2 2 1209
1400 Bonniebrae Dr Condo $259,000 2 1 864
12 El Greco St Detached $399,900 3 2 1533
14854 Twin Fir Rd Detached $415,000 3 2 1287
5055 Dawn St Detached $450,000 4 2.5 2699
18927 Indian Creek Ave Detached $475,000 3 2 2394
1454 S Glenmorrie Detached $550,000 4 2.5 3372
16921 Kara Ln Detached $569,000 3 2.5 2382
320 Durham St #2 Condo $569,500 3 2.5 1876
775 Boca Ratan Dr Detached $569,900 4 3.5 2727
14102 Kimberly Cir Detached $799,900 4 3.5 3103
2886 Upper DR Detached $849,000 4 3 2498
4550 Dogwood Dr Detached $899,000 3 3 3074
15468 Boones Way Attached $899,900 4 2.5 2425
2801 Lakeview Blvd Detached $949,000 3 4 3051
610 Atwater Rd Detached $995,000 3 2.5 2969
1300 Andrews Rd Detached $1,290,000 5 3 4810
1626 Englewood DR Detached $1,450,000 4 2.5+.5 5690
13705 Knaus Rd Detached $1,995,000 4 3.5 5251
13600 Goodall Rd Detached $2,295,000 6 6.5 6612
12901 Goodall Rd Detached $2,395,000 4 4.5 5333

Pending Sales (June 6-12, 2016)

Address Type Price BR Baths Sq Ft CDOM
18225 SW 65th Ave Detached $225,500 3 1.5 1701 7
2 St Helens Cir Detached $374,000 3 2 1464 6
15465 SW Tanager Dr Detached $445,000 2 2 1535 2
17534 Cardinal Dr Detached $479,900 4 3 2300 5
17763 Mardee Ave Detached $519,000 5 3 2300 3
1730 Yarmouth Cir Detached $519,000 2 2 1770 15
4571 Oakridge Rd Attached $560,000 3 2.5 2092 4
1161 Upper Devon Ln Detached $574,995 4 2.5 2265 28
1641 Ash St Detached $575,000 4 3 2764 5
4252 Albert Cir Detached $625,000 4 2.5 2964 28
17935 Lake Haven Dr Detached $635,000 5 3.5 3500 39
17821 Hillside Way Detached $699,900 4 3.5 3480 2
2331 Dellwood Dr Detached $715,000 3 3 2746 4
17981 Meadowlark Ln Detached $825,000 3 2.5 3250 4
4069 Pfeifer Ct Detached $898,000 5 3.5 4332 71
784 3rd St Detached $1,249,000 5 5 4138 72
1644 Lake Front Rd Detached $1,249,000 4 4 3866 119

Sold/Closed (June 6-12, 2016)

Address Type List Price Sold Price Sq Ft CDOM
4 Touchstone Condo $159,900 $162,500 984 2
668 McVey Ave #42 Condo $260,000 $247,000 836 120
1454 Glenmorrie Dr Detached $400,000 $360,000 3,372 237
2280 Fernwood Cir Detached $449,950 $510,000 2129 6
3312 Sabina Ct Detached $549,900 $536,500 1665 39
16525 Glenwood Ct Detached $559,900 $626,150 2166 2
839 E Ave Detached $649,000 $637,000 1722 5
17018 Summer Pl Detached $699,900 $69,000 2,925 8
14435 Uplands Dr Detached $965,000 $908,890 4822 126
1224 Tyndall Ct Detached $1,039,000 $1,039,000 4157 1
642 Iron Mountain Blvd Detached $1,295,000 $1,072,500 4575 369
588 9th St Detached $1,200,000 $1,180,000 3536 3
13237 Knaus Rd Detached $1,995,000 $1,965,000 4900 44
17849 Upper Cherry Ln Detached $2,898,000 $2,800,000 8731 10

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.