Category: Market Activity

Real Estate Market Statistics for Lake Oswego, Oregon

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Market Activity Report Feb 22nd – 28th, 2016

Hello everybody! Gosh hasn’t the weather been crazy? It is raining cats and dogs one moment and then it is nice and sunny. Did anybody have any trees that where blown down yesterday?

So this last week in the market we saw about 12 new properties on the market. My mother and I saw a few during broker’s tour and I can tell you right now that this is a good week for beautiful and unique houses!
22 houses have gone pending, best of luck on quick closes for our potential new neighbors!
13 homes have closed, welcome to Lake Oswego you guys!

Following is the breakdown for you according to RMLS:

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

Address Type Price Bedrooms Bathrooms Sqft
3916 CARMAN DR CONDO 239,900 2 21.5 1098
750 1ST ST #35 CONDO 265,000 2 2 1350
1225 CORNELL ST DETACHED 249,900 3 2 1394
210 STATE ST #8 CONDO 354,500 2 2.5 1614
1402 PARRISH ST CONDO 379,000 3 2.5 1862
4851 MADRONA ST DETACHED 449,900 4 2 1500
5829 BENFIELD CT DETACHED 489,000 4 2.5 1744
3312 SABTINA CT DETACHED 549,900 3 2 1600
5 CELLINI CT DETACHED 849,000 5 3.5 4895
336 5TH ST DETACHED 875,000 3 2.5 2018
348 5TH ST DETACHED 875,000 3 2.5 2019
149 FURNACE ST #25 DETACHED 1,788,888 3 3.5 4784

Pending Sales (Feb 22-28, 2016)

Address Type Price Bedroom Bathrooms DOM
84 OSWEGO SMT #84 CONDO 119,000 1 1 12
104 OSWEGO SMT #104 CONDO 140,000 1 1 25
282 CERVANTES CONDO 219,900 2 2 8
5056 FOOTHILLS DR C CONDO 273,500 2 2 10
18567 DON LEE WAY DETACHED 320,000 3 1 26
82 KINGSGATE RD DETACHED 349,500 3 2.5 4
11 SUMMIT RIDGE CT ATTACHED 349,900 2 2.5 42
5363 GREYSTOKE DR DETACHED 414,900 3 2 167
17311 ASHLEY CT ATTACHED 465,000 4 2.5 9
4401 OAKRIDGE RD ATTACHED 489,000 2 2.5 5
6080 SUMMER WOODS DETACHED 519,900 4 2.5 4
24 PARTRIDGE LN DETACHED 544,000 4 2.5 266
13852 SHIRVEA DR DETACHED 550,000 5 3 18
17510 CARDINAL DR DETACHED 599,500 4 3 3
919 CUMBERLAND RD DETACHED 605,000 4 3 4
5004 WOODCREST LN DETACHED 649,900 3 2.5 6
4369 SUNDEW CT DETACHED 658,950 4 2.5 209
408 NERTHSHORE RD DETACHED 949,950 4 3.5 70
14365 FOSBERG RD DETACHED 1,150,000 5 3.5 8
14380 UPLANDS DR DETACHED 1,150,000 4 3.5 7
3101 WEMBLY PARK RD DETACHED 1,369,000 4 4 1

Sold/Closed  (Feb 22-28, 2016)

Address Type List Price Close Price Sqft DOM
6213 HARRINGTON AVE DETACHED 339,000 332,000 960 79
18088 BELMORE AVE DETACHED 405,000 393,000 1304 10
5340 CHINOOK CT DETACHED 410,000 401,000 1862 58
1720 YARMOUTH CIR DETACHED 445,000 401,000 1914 73
5329 CHARLETON CT DETACHED 379,900 415,000 1120 8
3759 LANEWOOD ST DETACHED 419,000 430,000 1783 4
16838 FERNWOOD DR DETACHED 550,000 440,000 1942 132
13160 PETERS RD DETACHED 460,000 440,000 1946 11
14221 DOLPH CT DETACHED 598,000 545,000 2081 23
5646 GRAND OAKS DR DETACHED 729,000 714,000 3388 33
4810 LAKEVIEW BLVD DETACHED 839,000 814,000 3511 134
4287 HAVEN ST DETACHED 1,249,950 1,235,000 4007 18
1933 HIGHLANDS LOOP DETACHED 2,750,000 2,525,000 5031 187

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 Feb 15-21, 2016

Market activity continues to pick up. Last week in Lake Oswego there were 16 new listings, 25 properties that went into pending status with accepted offers, and 16 closed sales. It continues to be a seller’s market with more homes going pending than coming up for sale. Having said this a property still needs to be in a location and condition that the price supports. 3 of the pendings and 2 of the closed sales still took over 200 days.

Following is the breakdown for you according to RMLS:

New on the Market (Feb 15-21, 2016)

Address Type Price BR Baths Sq Ft
205 Oswego Summit Condo $162,900 2 2 1383
4 Touchstone #109 Condo $163,000 2 2 989
1400 Parrish St Condo $349,900 3 2.5 1880
4251 Woodside Circle Attached $419,000 3 2 2068
14584 Rainbow Dr Detached $545,000 4 3 2570
545 Evergreen Rd Detached $550,000 3 2.5 2182
16969 Alder Circle Detached $569,000 3 2 1534
5 Westminster Dr Detached $579,000 5 3 3104
5004 Woodcrest Ln Detached $649,900 3 2.5 2522
17183 Carlson Ct Detached $665,000 4 3.5 3366
4208 Albert Circle Detached $674,900 5 3 2777
2110 Summit Dr Detached $799,900 4 2 2525
14365 Fosberg Rd Detached $1,150,000 5 3.5 5343
14380 Uplands Dr Detached $1,150,000 4 3.5 2996
17600 Upper Cherry Ln Detached $1,299,000 4 3.5 3900
3232 Lakeview Blvd Detached $5,450,000 4 5 7925

Pending Sales (Feb 15-21, 2016)

Address Type Price BR Baths Sq Ft CDOM
4 Touchstone #110 Condo $165,000 2 2 989 28
47 Greenridge Ct Attached $229,900 2 1.5 1176 51
19416 Tualamere Ave Detached $350,000 3 0.5 1296 6
18440 Donlee Way Detached $385,000 3 1 1223 2
5402 Carman Dr Detached $400,000 3 1 1699 214
14352 Sherbrook Pl Detached $439,900 3 2.5 1806 75
1273 Rockinghorse Ln Detached $549,900 3 2.5 2192 154
14489 Camden Ln Detached $550,000 5 2.5 2816 2
2220 Fernwood Circle Detached $558,950 4 2.5 1882 6
17730 Marylbrook Dr Detached $589,900 3 2.5 2951 104
16510 Maple Circle Detached $590,000 5 3 2808 4
16805 Old River Dr Detached $650,000 3 2 1728 2
104 Garibaldi St Detached $699,000 3 2.5 3074 272
6413 McDuff Ct Detached $699,900 3 2.5 3091 94
5937 Bay Point Dr Detached $729,900 4 2.5 3402 143
4867 Upper Detached $789,900 4 3 2845 141
4255 Chad Dr Detached $899,900 4 3.5 3853 7
183 Furnace St Condo $1,000,000 2 2.5 2126 7
3487 Lake Grove Ave Detached $1,095,000 4 3.5 3473 36
1979 Country Club Rd Detached $1,149,000 5 5.5 4115 4
2371 Palisades Crest Dr Detached $1,198,000 4 3 4270 11
19354 Lorna Ln Detached $1,199,000 4 3.5 4169 184
12838 Alto Park Rd Detached $1,439,000 4 3.5 4475 145
18016 Skyland Circle Detached $1,790,000 4 4.5 6304 240
13599 Knaus Rd Detached $2,148,000 5 7 6874 1013

Sold/Closed  (Feb 15-21, 2016)

Address Type List Price Sold Price Sq Ft CDOM
65 Oswego Summit Condo $154,999 $140,000 1140 79
86 Kingsgate Rd F202 Attached $134,900 $146,000 849 3
44 Eagle Crest Dr #1 Condo $150,000 $156,500 908 3
31 Crestfield Ct Condo $184,500 $184,500 995 2
5800 Sevillle Ave Detached $399,000 $309,500 2113 40
19251 Indian Creek Ave Detached $350,000 $341,000 1550 40
59 Greenridge Ct Attached $369,000 $365,000 2004 19
17273 Bryant Rd Detached $395,900 $380,000 1452 251
6105 Shakespeare St Detached $400,000 $400,000 1550 227
4660 Upper Dr Detached $549,000 $489,000 3100 155
736 Evergreen Rd Detached $549,000 $490,000 2172 84
524 Weidman Ct Detached $669,000 $705,000 3450 13
14113 Amberwood Circle Detached $749,000 $717,500 3514 102
717 5th St Detached $1,089,000 $1,075,000 2809 6
1144 Bayberry Rd Detached $1,299,900 $1,250,000 3523 60
667 Iron Mountain Blvd Detached $1,699,000 $1,650,000 4679 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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News & Notes ~ Jan 2016 Numbers

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)
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Market Activity ~ Feb 8-14, 2016

Looks like we’re finally starting to see people putting their homes on the market.

During the period of February 8-14, 2016 (last week) in Lake Oswego, we saw 19 New properties enter the market, 20 move to Pending status, and 16 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Feb 8-14, 2016)

Address List Price # Beds # Baths Total SF Prop Type
84 OSWEGO SMT #84 $119,000 1 1 764 CONDO
125 MIDDLECREST RD $399,900 3 1 800 DETACHD
17311 ASHLEY CT $465,000 4 2.1 2117 ATTACHD
1244 HALLINAN CIR $474,500 4 3 2485 DETACHD
13852 SHIREVA DR $550,000 5 3 2664 DETACHD
4848 Lower DR $624,900 4 3 2548 DETACHD
17455 BROOKHURST DR $648,950 4 2.1 2884 DETACHD
17890 ROYCE WAY $664,000 5 3 3134 DETACHD
4657 DOGWOOD DR $889,000 4 4 3890 DETACHD
17519 BROOKHURST DR $895,000 4 4 3758 DETACHD
4255 CHAD DR $899,900 4 3.1 3853 DETACHD
18711 WESTVIEW DR $995,000 4 3.1 3591 DETACHD
183 FURNACE ST/Ground $1,000,000 2 2.1 2126 CONDO
2371 PALISADES CREST DR $1,198,000 4 3 4270 DETACHD
13707 FIELDING RD $1,250,000 3 3 3184 DETACHD
1644 LAKE FRONT RD $1,295,000 4 4 3866 DETACHD
149 FURNACE ST #25 $1,795,000 3 3.1 4784 CONDO
129 FURNACE ST/Upper $1,949,900 4 4.1 5772 CONDO
2575 SUMMIT DR $2,395,000 4 4.2 6185 DETACHD

PENDING SALES (Feb 8-14, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
205 CERVANTES/Ground $175,000 2 1.1 1216 CONDO 4
36 OSWEGO SMT $175,000 2 2 1140 CONDO 3
238 RIDGEWAY RD #16C $210,000 2 1 914 CONDO 2
5100 UPPER DR $349,900 1 1 956 DETACHD 41
59 GREENRIDGE CT $369,000 3 2.1 2004 ATTACHD 19
13680 SHIREVA DR $448,900 3 2 1504 DETACHD 120
13716 REGENCY CT $499,900 3 2.1 2110 DETACHD 5
741 BRIERCLIFF LN $519,000 4 3 2765 DETACHD 39
8 GERSHWIN CT $525,000 4 3.1 3022 DETACHD 3
1430 LARCH ST $529,000 3 3 2279 DETACHD 48
40 DA VINCI ST $535,000 4 2.1 2476 DETACHD 3
116 MIDDLECREST RD $564,888 3 3 2506 DETACHD 32
149 MIDDLECREST RD $575,000 2 2 2302 DETACHD 256
37 DA VINCI ST $649,900 4 2.1 2152 DETACHD 147
1921 GLENMORRIE LN $658,000 4 3 2375 DETACHD 32
2979 RIVENDELL RD $689,900 4 2.1 2729 DETACHD 3
17 EL GRECO ST $694,900 5 2.1 3060 DETACHD 3
18217 DELENKA LN $749,500 4 3 4166 DETACHD 30
5051 LAKEVIEW BLVD $949,800 4 3.1 3355 DETACHD 146
13900 GOODALL RD $1,429,000 4 3.1 4212 DETACHD 28

SOLD  (Feb 8-14, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY #54 $154,900 $124,900 1 1 841 CONDO 97
15938 QUARRY RD 3A $169,900 $164,511 2 1 988 CONDO 17
4000 CARMAN DR #62 $163,350 $176,000 2 2 999 CONDO 8
235 Cervantes/Upper $329,000 $289,000 2 2 1100 CONDO 120
1248 OAK ST $325,000 $312,500 2 1 900 DETACHD 69
454 5TH ST $323,000 $323,000 2 1.1 1092 CONDO 28
6355 SW DAWN ST $345,900 $345,900 3 2 1268 DETACHD 18
6140 BURMA RD $419,000 $390,000 5 2 1656 DETACHD 75
5475 BONITA RD $550,000 $500,000 3 2 1904 DETACHD 146
524 COUNTRY CLUB RD $549,900 $555,000 2 2 2168 DETACHD 26
15655 FIELDSTONE DR $710,000 $695,000 3 2.1 2750 DETACHD 6
5218 WESTFIELD CT $775,000 $775,000 4 2.1 3107 DETACHD 5
4845 UPPER DR $849,000 $785,000 4 3 2852 DETACHD 124
990 TERRACE DR $1,075,000 $1,000,000 4 2.1 3740 DETACHD 186
14 DOVER WAY $1,099,000 $1,045,000 5 3.1 4593 DETACHD 297
886 9TH ST $1,150,000 $1,150,000 2 2.1 2842 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 Snap Shot

l-lake-oswego-mansionIn a recent conversation with another Realtor here in Lake Oswego the comment was made “aren’t there any houses in Lake Oswego under a million dollars!”. It got me thinking about the fact that it’s been awhile since I did my affordability comparison with Sellwood in SE Portland. It also got me wondering about all the houses in Lake Oswego that are priced at a million dollars or greater. How many are there and are they selling?

I ran these numbers on February 1st and in 5 days time they will of changed, but it will give all of us a snap shot of current inventory and current activity.

There are currently 124 detached houses for sale. Of those, 56 are priced at a million dollars or greater. That means that million dollar properties make up 45% of the current inventory. I wanted to know how many million dollar homes had sold in the last six months. I decided if I was going to do it with the expensive houses I would also do it with the less expensive houses. Below you will find the results of my research:

Type Value Range # Active # Pending # Sold/6 Months # Month’s Inventory
Detached $100,000-$400,000 6 13 52 3 weeks
$400,001-$600,000 21 26 106 5 weeks
$600,001-$800,000 28 19 77 2 months
$800,001-$1,000,000 14 9 43 2 months
$1,000,001-$1,500,000 28 13 32 5 months
$1,500,001-$2,000,000 13 3 16 5 months
$2,000,001-$3,000,000 7 0 8 5 months
$3,000,001-$5,000,000 4 2 2 12 months
$5,000,001-$20,000,000 3 0 0 unknown
Attached All Price Ranges 6 6 27 5 weeks
Condos All Price Ranges 3 20 103 1 week

So the answer to my question is that while there are a lot of million dollar houses, they are selling quite well. The far right column shows you that based upon how many have sold in the last 6 months, how many months it will take to sell what is currently on the market. The less expensive homes are selling in just weeks.

The real shocker in this, to me, is what has happened to the condos. I have never in 28 years of selling real estate seen the condo inventory so low. In my experience there always seems to be a bit of a glut of condos available. Last summer there were many and some complexes had so much inventory that they just languished on the market. So what happened? Many complexes that were involved in litigation and special assessments have put that behind them and are now more stable and more financially healthy. The foreclosures and shortsales are pretty much gone (there may be a few hold outs yet to appear), but mostly I think it’s because first time home buyers are back in the game. The millenials have had a hard time getting established in good jobs, but it is happening and they are buying homes. If you own a condo in Lake Oswego, it is likely going up in value.

Lake Oswego vs Sellwood
I started doing this comparison between LO and Sellwood (a neighborhood in SE Portland) because I have long felt that thinking of Lake Oswego as a strictly rich community is unfair. I think there are a fairly broad range of households and that you can find affordable housing in Lake Oswego. I used Sellwood for the comparison because it is where I moved from when I came to Lake Oswego 18 years ago. I used to do this comparison about once a year, but I don’t think I’ve done it for quite a long time. So hear it is. My definition is based upon a detached home that is priced at $400,000 or less. In Lake Oswego there are currently 6. In Sellwood there is currently 1. So it continues to hold true that there are more “affordable” houses in Lake Oswego than there are in Sellwood. This has been the case every time I have done this exercise. But the take away is “only 6”?! and “only 1”?! Our property values have gone up so much that I’m not sure I can use the $400,000 price cap any more, in either area.

Most expensive and least expensive
The last part of this review is that I want to give you an idea of the least and most expensive detached house value in Lake Oswego. The least expensive house is offered at $320,000. It was built in 1964 and has 3 bedrooms and 1 bath, and 924 square feet. It’s on a .24 acre lot, needs a lot of updating, and is on a septic system. The most expensive house is offered at $15,000,000. It was built in 2006. It has 5 bedrooms, 6 full baths and 3 half baths. It has an elevator, a media room, a game room, a workout room, and more. It has 13,462 square feet. It sits on .66 of an acre that happens to be lake front along the North shore. It has also been on and off of the market for the past 4 years.

I hope you found this both interesting and helpful. Feel free to call if you have any questions. Linda, Whitney and I are always here to help.
Dianne

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Market Activity Jan 25-31, 2016

We are in February now and I expect these numbers to start climbing. Our market peaks in May and June, but it starts to build in February and March. Doing the market activity report for last week in Lake Oswego, the numbers are still pretty small, particularly the new listings. I know that there are buyers right now that are eager to buy but just haven’t found “the one”. If you are planning to sell this spring, I actually think now is a good time to list because you have such low competition.

Last week in Lake Oswego there were 5 new listings, 18 houses moved to pending status, and 13 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Jan 25-31, 2016)

Address Type Price BR Baths Sq Ft
104 Oswego Summit Condo $165,000 1 1 800
18000 Cardinal Dr Detached $674,900 4 3 2750
51 Hillshire Dr Detached $715,600 3 2.5+.5 4268
2155 Ridgewood Rd Detached $780,000 4 3 3454
17622 Lake Haven Dr Detached $1,149,000 3 2

Pending Sales (Jan 25-31, 2016)

Address Type Price BR Baths Sq Ft CDOM
4 Touchstone #110 Condo $165,000 2 2 989 2
48 Eagle Crest Dr #D2 Condo $174,900 3 2 1623 78
67 Oswego Summit Condo $184,900 2 2 1212 88
48 Eagle Crest Dr Condo $185,700 2 2 1545 90
11 Summit Ridge Ct Attached $349,900 2 2.5 1576 11
8 Summit Ridge Ct Attached $379,900 2 2.5 1642 4
1775 Kilkenny Rd Detached $439,900 4 2 2560 42
741 Briercliff Ln Detached $519,000 4 3 2765 24
7 Falstaff St Detached $519,900 4 2.5 2740 140
1430 Larch St Detached $529,000 3 3 2279 34
16060 Pearcy St Detached $538,000 3 3.5 2101 4
17927 Ridge Lake Dr Detached $629,900 4 2.5 2544 142
1495 Woodland Terrace Detached $649,500 4 2.5 3862 12
41 Touchstone Detached $675,000 4 3 3092 100
5371 Southwood Dr Detached $724,900 3 3 2751 9
18320 River Edge Ln Detached $899,000 4 4 4342 290
3133 Douglas Circle Detached $1,350,000 4 3.5 3981 41
915 Atwater Rd Detached $1,895,000 4 4.5 4102 57

Sold/Closed  (Jan 25-31, 2016)

Address Type List Price Sold Price Sq Ft CDOM
95 Oswego Summit Condo $135,000 $105,000 1116 56
44 Eagle Crest Dr #6 Condo $139,900 $135,000 798 6
45 Eagle Crest Dr #208 Condo $185,000 $182,500 1,046 152
17 Summit Ridge Ct Attached $342,500 $327,500 1558 0
21 Oriole Ln Detached $345,000 $345,000 1473 228
1475 Cherry Crest Dr Detached $409,000 $439,000 1739 2
1651 Larch St Detached $489,900 $505,000 2225 2
6150 Kenny St Detached $599,000 $545,000 2070 150
1330 Pine St Detached $799,900 $770,000 3775 149
18262 Bryant Rd Detached $975,000 $875,000 3428 601
17620 Woodhurst Pl Detached $1,195,000 $975,000 4389 290
3115 Wembley Park Rd Detached $1,035,000 $1,035,000 3616 3
12822 Alto Park Rd Detached $1,299,000 $1,199,000 3426 179

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 ~ December & 2015 Numbers

Well, the latest numbers for the entire Portland area for December and 2015 are in!  This is particularly interesting because the numbers are through December 31st…therefore there are figures for December (best look at what’s happening “right now”) AND for the entire year.

I usually give our Property Blotter Readers a glimpse at the whole Portland market and how Lake Oswego fits into it below. Here you go!

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

  • There were 1,548 New Listings in December which was 2–down / -0.1% from December of 2014, and also down 28.4% from November of 2015.
  • At 2,710, December Closed Sales were up a whopping 25.9% from November and up  21% over December of 2014.
  • December Pending Sales (accepted offers), at 1,936, fell 22.7% from November, and/but were up 16.1% over December 2014.
  •  The Average Sale Price in December of $367,600 was down $12,000 from November’s Average of $355,600, and up $36,000 (!!) from December 2014’s Average of $331,600.
  • The Year-End (Year-To-Date/YTD) Average Sale Price for the Overall Portland Area was $354,500. That compares to 2014’s YTD Average Sale Price which was $333,000.
  • The big story is about Inventory which was at 1.2 months as of December 31st…The lowest since 1999.

Average Sale Prices By Area YTD for 2015 were:

  • North Portland: $335,000
  • NE Portland:  $376,700
  • SE Portland: $330,100
  • Gresham/Troutdale: $263,000
  • Milwaukie/Clackamas: $335,600
  • Oregon City/Canby: $325,200
  • Lake Oswego/West Linn: $541,800
  • W Portland: $495,100
  • NW Washington County: $442,700
  • Beaverton/Aloha: $297,300
  • Tigard/Wilsonville: $370,600
  • Hillsboro/Forest Grove: $293,900

The combined areas of Lake Oswego and West Linn  for the month of December 2015 reported:

    •  255 Active Listings
    •  86 New Listings   
    •  98 Pending Sales 
    •  143 Closed Sales 
    • Average Sale Price for December of $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: 81 Days
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Market Activity ~ Jan 18-24, 2016

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.

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Market Activity Dec 28-Jan 3, 2016

Happy New Year! Yep, I love the holidays. Yep, I’m glad that they are over. I like the community of sharing, being with family and friends, and cherishing the spirit of the season, but I also have buyers looking for houses. It is actually quite frustrating to have clients I am trying to help and there is just not a house on the market that suits their needs. So I am excited to have the holidays behind us and to be able to watch the inventory of available homes start to grow. I don’t think that I’m the only one. I think there are a lot of buyers ready to go and I predict the selling season will be in full swing by February. Exciting!

Last week in Lake Oswego we had 7 new listings, 13 go to pending status, and 16 closed/sold properties.

Following is the breakdown for you according to RMLS:

New on the Market (Dec 28-Jan 3, 2016)

Address Type Price BR Baths Sq Ft
4000 Carman Dr #62 Condo $163,350 2 2 999
47 Greenridge Ct Attached $249,900 2 1.5 1176
4725 Jean Rd Detached $385,700 4 2 1433
17015 Chapin Way Detached $544,000 3 2 2188
5218 Westfield Ct Detached $775,000 4 2.5 3107
17446 Bryant Rd Detached $925,000 4 4 3506
717 5th St Detached $1,089,000 4 2.5 2809

Pending Sales (Dec 28-Jan 3, 2016)

Address Type Price BR Baths Sq Ft CDOM
668 McVey Ave #41 Condo $135,000 0 1 485 139
3804 Botticelli St Condo $150,300 2 1.5 1143 45
4000 Carman Dr #12 Condo $158,500 2 2 866 23
3932 Carman Dr Condo $239,900 2 2.5 1128 10
1755 Kilkenny Rd Detached $280,000 3 1 1742 108
21 Oriole Ln Detached $345,000 2 2 1473 228
1475 Cherry Crest Dr Detached $419,000 3 2 1739 2
9 Falstaff St Detached $495,000 4 2.5 2436 105
5475 Bonita Rd Detached $519,000 3 2 1904 146
5554 Royal Oaks Dr Detached $525,000 2 2 1861 262
524 Country Club Rd Detached $549,900 2 2 2168 26
14113 Amberwood Circle Detached $739,000 4 2.5 3514 102
4810 Lakeview Blvd Detached $819,000 4 4.5 3511 134

Sold/Closed  (Dec 28-Jan 3, 2016)

Address Type List Price Sold Price Sq Ft CDOM
668 McVey Ave #40 Condo $185,000 $167,500 626 26
228 Ridgeway Rd Condo $159,900 $169,500 746 9
668 McVey Ave #25 Condo $299,900 $297,500 636 $0
4347 Silver Ct Condo $319,000 $319,000 1844 26
76 Condolea Way Condo $415,000 $415,000 2746 0
17347 Ashley Ct Attached $459,900 $445,000 2117 90
13855 Verte Ct Detached $499,000 $449,000 1835 128
17162 Warren Ct Detached $515,000 $515,000 2231 3
5336 Coventry Ct Detached $524,500 $545,000 2358 3
619 Clara Ct Detached $549,000 $549,000 2958 4
4708 Hastings Pl Detached $575,000 $550,000 2215 80
18383 Anduin Terr Detached $759,900 $754,700 3351 0
706 5th St Detached $1,099,900 $1,085,000 2730 173
1300 Forest Meadows Way Detached $1,495,000 $1,144,500 3734 88
15845 Oswego Shore Ct Detached $1,875,000 $1,875,000 5500 583
17388 Cedar Rd Detached $2,395,000 $2,275,000 4276 218

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.

Posted on

Market Activity ~ Dec 14-27, 2015

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.