Market Activity for July 26-August 1, 2010

What a beautiful summer we are having! On a really gorgeous day the market activity can slow down almost as much as can happen on one of winter’s harshest days. Despite the great weather, last week had some good activity: 13 new listings, 8 pending sales, and 16 closed sales.

Here’s your weekly update (see below the tables for additional notes):

NEWLY LISTED (July 26-Aug. 1, 2010)

Address List Price # BR # BATHS SQ FEET Prop Type
4081 JEFFERSON PKWY $219,900 2 2.5 1,618 CONDO
46 GREENRIDGE CT $234,900 3 2.5 2,128 CONDO
16090 SW KIMBALL AVE $365,000 4 1.5 2,276 DETACHD
1657 CAMPUS WAY $369,000 4 3 2,262 DETACHD
14480 CAMDEN LN $391,335 3 2.5 1,944 DETACHD
1600 WOODLAND TER $399,000 3 2 1,993 DETACHD
6132 SUMMER WOODS $489,900 4 2.5 2,778 DETACHD
2035 RIDGE POINTE DR $629,900 4 2 3,537 DETACHD
17658 BROOKHURST DR 649900 4 3 4,198 DETACHD
14246 KIMBERLY CIR 649950 4 2.5 3,520 DETACHD
4055 ORCHARD DR 669000 5 3.5 3,329 DETACHD
1968 CHERYL CT 1695000 4 4.5+.5+.5 6,153 DETACHD
1193 FAIRWAY RD 3900000 5 4.5+.5 6,616 DETACHD

PENDING SALES (July 26-Aug. 1, 2010)

Address List Price # BR # BATHS SQ FEET Prop Type CDOM
859 F AVE $239,900 2 1 952 DETACHD 13
1684 BOCA RATAN DR $248,900 3 2 1,611 ATTACHD 531
580 8TH ST $255,000 2 1 852 DETACHD 12
5524 BONITA RD $319,000 3 1 2,752 DETACHD 20
18929 INDIAN SPRINGS RD $324,900 5 3 3,380 DETACHD 7
17778 MARYLCREEK DR $424,900 3 2.5 2,741 DETACHD 49
12748 SW 22ND AVE $425,000 4 2.5 2,584 DETACHD 373
13595 KNAUS RD $599,000 4 2.5 3,339 DETACHD 15

SOLD (July 26-Aug. 1, 2010)

Address O/L Price Sales Price # BR # BATHS Prop Type CDOM
100 KERR PKWY $74,900 $60,500 1 1 CONDO 131
222 RIDGEWAY RD $125,000 $125,000 1 1 CONDO 13
4372 WOODSIDE CIR $284,900 $200,000 2 2 ATTACHD 165
4340 BOTTICELLI ST $239,900 $222,200 3 3+.5 CONDO 134
330 6TH ST $249,950 $239,000 1 1 DETACHD 5
1005 SOUTHSHORE BLVD $244,900 $249,000 4 2 DETACHD 74
4224 HAVEN ST $269,900 $269,000 4 2 DETACHD 39
15860 BOONES WAY $429,000 $380,000 3 2 DETACHD 81
1642 HIGHLAND DR $429,000 $418,000 4 3 DETACHD 74
17387 CANYON DR $479,000 $471,500 3 2+.5 DETACHD 11
17701 LEAFY LN $529,000 $507,000 4 3 DETACHD 94
4089 MELISSA DR $524,900 $520,000 4 2+.5 DETACHD 9
2311 OSWEGO GLEN CT $810,000 $700,000 4 2+.5 DETACHD 64
331 CHANDLER PL $799,500 $700,000 4 DETACHD 336
17281 LOWENBERG TER $884,900 $829,000 4 3+.5 DETACHD 494
245 CHANDLER PL $950,000 $895,000 4 2+.5+.5 DETACHD 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

Market Activity Report ~ July 19-25, 2010

***If you experienced problems with the site last week, we apologize.  It took some work but we remedied the issue and are happy to be back up and running delivering micro-local Lake Oswego real estate news and information to you! (Many thanks to Ron Ares : )

Lake Oswego had 26 New properties enter the market, 8 go to Pending status, and 5 Sold during last week’s Monday – Sunday period according to RMLS.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (July 19-25, 2010)

Address List Price Total SF # Beds # Baths Prop Type
86 KINGSGATE RD $118,000 840 2 2 CONDO
45 EAGLE CREST DR $119,900 768 1 1 CONDO
5060 FOOTHILLS DR $229,950 1252 3 2 CONDO
5060 FOOTHILLS DR $299,900 1252 2 2 CONDO
18929 INDIAN SPRINGS RD $324,900 3380 5 3 DETACHD
446 5TH ST $327,000 1092 2 2 CONDO
1004 CUMBERLAND PL $449,950 3313 5 2 DETACHD
4908 MULHOLLAND DR $460,000 2498 3 2.1 ATTACHD
2 Scarborough $487,900 2751 4 3 DETACHD
1991 SW GREENTREE RD $495,000 2662 4 3 DETACHD
1060 UPPER DEVON LN $524,000 2400 3 2.1 DETACHD
13644 TWIN CREEK LN $589,899 2758 4 2.1 DETACHD
1950 SW Green Acre LN $594,900 2669 3 3.1 DETACHD
1941 SW Green Acres LN $619,900 2542 3 3 DETACHD
12645 BOONES FERRY RD $630,000 3036 4 2 DETACHD
920 OAK TER $649,950 3467 4 2.1 DETACHD
5657 VICTORIA CT $689,900 3421 4 3 DETACHD
5553 KILCHURN AVE $699,900 3274 4 2.1 DETACHD
5463 DENTON DR $799,000 3553 4 2.1 DETACHD
13658 PROVINCIAL HILL WAY $799,900 3853 5 4 DETACHD
17392 BERGIS FARM DR $989,950 4734 4 3.2 DETACHD
755 6th ST $1,050,000 3973 4 3.1 DETACHD
18308 MEADOWLARK LN $1,729,000 7341 4 3.3 DETACHD
3648 LAKEVIEW BLVD $2,295,000 4000 4 2.1 DETACHD
17860 CRESTLINE DR $2,650,000 6810 4 5.2 DETACHD
1745 SOUTHSHORE BLVD $2,950,000 5545 4 4.1 DETACHD

PENDING SALES (July 19-25, 2010)

Address List Price Total SF # Beds # Baths Prop Type CDOM
139 TOUCHSTONE CT $279,900 1846 2 2.1 ATTACHD 33
1728 ASPEN CT $279,900 1852 3 2.1 DETACHD 362
4490 LAKEVIEW BLVD $299,900 1727 3 2 DETACHD 90
4664 FIRWOOD RD $349,900 1640 3 2 DETACHD 53
15860 BOONES WAY $399,900 2105 3 2 DETACHD 81
4284 WESTBAY RD $525,000 1539 3 2 DETACHD 12
1272 ZIVNEY LN $597,000 2658 5 3 DETACHD 103
333 NORTHSHORE RD $1,900,000 5152 4 4.1 DETACHD 233

SOLD (July 19-25, 2010)

Address O/Price Close Price Total SF # Beds # Baths Prop Type CDOM
47 EAGLE CREST DR $84,950 $71,000 1009 2 1 CONDO 104
1601 GREENTREE RD $340,100 $249,900 2444 3 2.1 DETACHD 149
540 2ND ST $410,000 $375,000 1520 2 2.1 CONDO 869
18893 INDIAN SPRINGS CIR $439,000 $441,000 2841 4 3 DETACHD 3
2941 WESTVIEW CIR $699,000 $650,000 3075 5 2.1 DETACHD 4

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

Market Activity Report for July 12-18, 2010

Market Activity in Lake Oswego last week brought 29 new listings onto the market, 15 pending sales (including our featured property from last Wednesday, which received an accepted offer in just 7 days), and 11 closed sales.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (July 12-18, 2010)

Address List Price Sq Feet BR BATHS Prop Type
86 KINGSGATE RD $94,900 924 2 2 ATTACHD
3952 CARMAN DR $208,900 1146 2 2+.5 CONDO
16686 CARNEGIE AVE $239,000 1734 4 2 DETACHD
859 F AVE $239,900 1201 3 1+.5 DETACHD
16089 LAKE FOREST BLVD $239,900 952 2 1 DETACHD
580 8TH ST $255,000 852 2 1 DETACHD
17483 SCHALIT WAY $285,000 1794 3 2+.5 DETACHD
1118 OAK ST $319,900 1320 3 1+.5 DETACHD
15265 BOONES WAY 324500 1560 2 2+.5 ATTACHD
15245 BOONES WAY 325000 1600 3 2+.5 ATTACHD
17500 HILL WAY 329900 1663 4 2 DETACHD
1070 HALLINAN 379900 1653 3 1+.5 DETACHD
16 OTHELLO ST 432900 2820 4 3 DETACHD
1550 BEDFORD CT 460000 2250 3 2+.5 DETACHD
19 GROUSE TER 489000 3383 3 2+.5 DETACHD
475 COUNTRY CLUB CT 499000 1705 3 2+.5 DETACHD
17791 HILL WAY 500000 2500 4 2+.5 DETACHD
942 CLARA CT 549000 3123 4 2+.5 DETACHD
13595 KNAUS RD 599000 3339 4 2+.5 DETACHD
173 FURNACE ST 675000 2220 2 2+.5 CONDO
13223 DEERFIELD CT 825000 4008 5 3+.5+.5 DETACHD
838 8th ST 825000 2600 3 2+.5 ATTACHD
2351 PALISADES CREST DR 949000 4498 5 2+.5 DETACHD
931 LAKE FRONT RD 949900 2889 4 3+.5 DETACHD
18026 SKYLAND CIR 1249000 4134 5 3+.5 DETACHD
1640 COUNTRY COMMONS 1375000 5343 4 4+.5 DETACHD
1600 COUNTRY COMMONS 1425000 5389 4 3+.5 DETACHD
1104 FOREST MEADOWS WAY 1495000 5786 4 3+.5 DETACHD
1100 NORTHSHORE RD 2650000 5232 5 2+.5+.5 DETACHD

PENDING SALES (July 12-18, 2010)

Address List Price Sq Feet BATHS BR Prop Type CDOM
5713 SW KENNY ST $203,910 1296 2 3 DETACHD 19
2405 DELLWOOD DR $357,000 2336 3 5 DETACHD 392
5434 YORKSHIRE PL $369,900 2335 3 3 DETACHD 5
1641 ASH ST $399,990 2825 3 4 DETACHD 177
13909 MAJESTIC CT $410,000 3003 3 4 DETACHD 126
17670 MARYLBROOK DR $499,000 3067 3 4 DETACHD 261
1301 HORSESHOE CURVE $500,000 2060 3 3 DETACHD 5
16884 SUMMER PL $524,900 2911 2.5 4 DETACHD 7
4524 AUBURN LN 535000 2732 3.5 3 ATTACHD 169
2475 MARYLVIEW CT 599000 3049 2.5 4 DETACHD 74
5783 VICTORIA CT 599900 2500 2 3 DETACHD 21
18010 GIMLEY CT 615000 3652 2.5 4 DETACHD 116
5529 WESTFIELD CT 629000 2968 2.5 3 DETACHD 4
898 CORNELL ST 759000 3000 2.5 3 DETACHD 390
95 IRON MOUNTAIN BLVD 1595000 4818 4.5 5 DETACHD 411

SOLD (July 12-18, 2010)

Address Orig.Price Close Price BATH BR Prop Type CDOM
205 CERVANTES $164,900 $120,000 1.5 2 CONDO 145
16200 PACIFIC HWY $297,900 $221,500 2 2 CONDO 120
3388 EDGEMONT RD $359,900 $250,000 2.5 3 DETACHD 283
15580 PARTRIDGE DR $378,000 $350,000 2.5 3 DETACHD 267
1400 LEE ST $475,500 $421,500 3 4 DETACHD 146
53 D AVE $574,900 $425,000 3 3 DETACHD 518
5678 CHARLES CIR $580,000 $520,000 4 3 DETACHD 495
14158 KIMBERLY CIR $530,000 $530,000 3 5 DETACHD 40
1425 CHANDLER RD $978,000 $750,000 3 4 DETACHD 43
4912 FIRWOOD RD $999,900 $950,000 4 4 DETACHD 21
19000 BRYANT RD $965,000 $965,000 3.5 5 DETACHD 3

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

Lake Oswego Market Activity ~ July 5-11, 2010

Lake Oswego had 23 New properties enter the market, 15 go to Pending status, and 5 Sold during last week’s Monday – Sunday period according to RMLS.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (July 5-11, 2010)

Address List Price Total SF # Beds # Baths Prop Type
17 OSWEGO SMT $105,000 764 1 1 PUD
5225 JEAN RD $198,000 1500 3 2 CONDO
16200 PACIFIC HWY $204,900 1190 2 2 CONDO
18263 BENFIELD AVE $209,900 912 3 1 DETACHD
5524 BONITA RD $319,000 2752 3 1 DETACHD
14550 DORIS AVE $349,900 1474 3 1.1 DETACHD
5434 YORKSHIRE PL $369,900 2335 3 3 DETACHD
2000 GREENTREE RD $379,000 2548 3 2.1 DETACHD
2 BARTOK PL $395,000 2332 4 2.5 DETACHD
762 LAKE FOREST DR $454,000 2400 4 3 DETACHD
17760 OVERLOOK CIR $476,500 2357 4 3 DETACHD
4284 WESTBAY RD $525,000 1539 3 2 DETACHD
15 SCARBOROUGH DR $549,000 3310 4 3.1 DETACHD
3334 Upper DR $550,000 2500 4 2.1 DETACHD
3342 Upper DR $550,000 2500 4 1.2 DETACHD
8 CAMELOT CT $550,000 3084 5 3 DETACHD
4398 GLACIER LILY ST $550,000 2936 4 2.1 DETACHD
5434 ROSALIA WAY $559,000 2600 4 2.1 DETACHD
13074 ROGERS RD $629,000 2810 4 2.1 DETACHD
6479 SW MCDUFF CT $659,000 3054 3 2.1 DETACHD
3931 BASS LN $789,000 3310 4 3.1 DETACHD
691 CARRERA LN $899,900 3704 5 3.1 DETACHD
329 10TH ST $995,000 3595 4 2.2 DETACHD

PENDING SALES (July 5-11, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY $109,000 2 2 1311 CONDO 276
16200 PACIFIC HWY $199,000 2 2 1200 CONDO 276
26 CONDOLEA DR $199,900 2 2 1420 CONDO 131
16200 PACIFIC HWY $209,000 2 2 1208 CONDO 878
16200 PACIFIC HWY $209,000 2 2 1200 CONDO 276
16200 PACIFIC HWY $239,000 2 2 1208 CONDO 878
330 6TH ST $249,950 1 1 1120 DETACHD 5
1694 FIRCREST CT $274,900 3 2.1 2015 DETACHD 198
6338 WASHINGTON CT $329,900 3 1 1558 DETACHD 128
675 10TH ST $430,000 4 2 2280 DETACHD 427
5580 KILCHURN AVE $549,900 4 2.1 2286 DETACHD 12
5722 CHARLES CIR $569,900 4 2.1 2674 DETACHD 69
2326 OSWEGO GLEN CT $997,500 4 4 4575 DETACHD 36
1097 CHANDLER RD $1,439,000 4 4.1 5313 DETACHD 42
1973 CHERYL CT $1,595,000 5 4.1 6436 DETACHD 53

SOLD (July 5-11, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
59 GALEN ST $99,000 $89,900 1 1 550 CONDO 97
18922 REDWING WAY $369,900 $349,900 4 2 2076 DETACHD 271
1158 BAYBERRY RD $649,000 $649,000 4 4 2386 DETACHD 10
731 F AVE $750,000 $655,000 4 2.1 2668 DETACHD 113
18735 BRYANT RD $1,079,900 $875,000 5 3.1 5323 DETACHD 59

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

News & Notes

~News & Notes~

  • Mortgage Rates fell further last week from the already-lowest level in decades.  Rates for a 30-year conventional loan are now hovering at between 4.5% & 4.75%, even with an increase today of .25 basis points according to Pat Goodell of Academy Mortgage.  Slower economic growth last week was good for mortgage rates and negative for the stock market.  This is actually an interesting point to note- When you see the stock market take a dip, check in on mortgage rates… they will almost always be improving during such periods.
  • The deadline for closing on those transactions taking advantage of the tax credits was finally extended to September 30th. So, that’s very good news for all those who were pushing up against the June 30th closing deadline & not quite making it.  I love second-chances… they’re so American!
  • Woodstove ReminderHave a wood stove?  Planning to buy or sell a home with one? Note that beginning August 1st, 2010, in an effort to control emissions from smoke, when selling a home you will be required to remove the wood stove if it is “uncertified” by the DEQ.  Here is a link for more information: Woodstoves in Oregon
  • Lake Oswego Pricing Snapshot– Today there are 74 Detached Residences for sale in Lake Oswego priced at $350,000 or under.  There are 144 priced between $350,000 and $550,000.  Between $550,000 and 1 million there are 206 properties.  And at 1 million and over there are 105 to choose from.

Market Activity for June 28 to July 4, 2010

Here in Lake Oswego last week the real estate market had 18 new listings, 15 pending sales, and 15 closed sales.
Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (June 28-July 4, 2010)

Address List Price BR BATHS SF Prop Type
3930 LAKE GROVE AVE $122,000 2 1 952 CONDO
4000 CARMAN DR $122,500 1 1 836 CONDO
4000 CARMAN DR $129,000 2 2 834 CONDO
86 KINGSGATE RD $130,000 2 2 849 CONDO
15209 QUARRY RD $174,900 2 1 1,210 DETACHD
668 MCVEY AVE $185,000 1 1 636 CONDO
18305 FERNBROOK CT $299,999 3 2 1,500 DETACHD
4201 COLLINS WAY $307,500 3 2 1,230 DETACHD
1228 MAPLE ST 399000 3 2 1,894 DETACHD
17055 CRESTVIEW DR 479900 5 3 2,575 DETACHD
730 SW BRIERCLIFF LN 495000 5 3 3275 DETACHD
5580 KILCHURN AVE 549900 4 2 + .5 2,286 DETACHD
18006 GIMLEY CT 549900 5 4 3225 DETACHD
12 SCARBOROUGH DR 574900 4 2 + .5 2,892 DETACHD
611 IRON MOUNTAIN BLVD 575000 2 1 1,322 DETACHD
18212 WESTVIEW DR 598900 4 2 + .5 3464 DETACHD
17874 BLUE HERON WAY 599900 4 4 3,200 DETACHD
17618 CRESTLINE DR 1575000 4 3 + .5+.5 4,666 DETACHD

PENDING SALES (June 28-July 4, 2010)

Address SPID List Price SQ feet BR BATHS Prop Type CDOM
47 EAGLE CREST DR $74,100 1009 2 1 CONDO 104
222 RIDGEWAY RD $125,000 756 1 1 CONDO 13
4372 WOODSIDE CIR $219,000 1178 2 2 ATTACHD 165
16200 PACIFIC HWY $230,000 1208 2 2 CONDO 120
1005 SOUTHSHORE BLVD $249,900 2196 4 2 DETACHD 74
139 TOUCHSTONE CT $279,900 1846 2 2 + .5 ATTACHD 11
4321 WOODSIDE CIR $289,000 1532 3 2 ATTACHD 14
406 8th ST $315,000 2437 3 1 + .5 DETACHD 323
595 6TH ST 349000 893 2 2 DETACHD 3
5 EL GRECO ST 479000 2455 4 2 + .5 DETACHD 7
444 6TH ST 899000 4541 4 4 + .5 DETACHD 213
245 CHANDLER PL 950000 3733 4 2 +.5+.5 DETACHD 6
1425 CHANDLER RD 978000 3384 4 3 DETACHD 43
18820 GREENBLUFF DR 1395000 5382 4 4 + .5 DETACHD 99
13777 Cameo CT 1550000 7300 4 5 + .5 DETACHD 570

SOLD (June 28-July 4, 2010)

Address Orig/Price Close/Price CDOM SQ FT Prop Type BR BATHS
3433 SW MCNARY PKWY $153,000 $120,000 98 1,008 CONDO 2 2
100 LEONARD ST $184,900 $175,000 164 1,364 CONDO 2 2
13 ERASMUS ST $214,500 $210,000 45 1,414 ATTACHD 2 2.5
4610 LAMONT WAY $247,500 $232,500 17 1,750 DETACHD 3 2
17141 SW BRYANT RD $364,900 $317,000 307 1,228 DETACHD 3 2
454 5TH ST $350,000 $350,000 156 1,092 ATTACHD 2 1.5
15547 PARTRIDGE DR $389,900 $390,000 214 2,266 DETACHD 3 2.5
12409 SHELBY CT $449,900 $428,000 12 2,238 DETACHD 3 2
676 9TH ST $525,000 435,000 327 1,850 DETACHD 2 1
15266 CANDLEWOOD CT $464,988 455,000 88 2,569 DETACHD 4 2.5
13460 SNOWBERRY CT $582,500 525,000 61 3,327 DETACHD 3 2.5
15422 BOONES WAY $798,000 675,000 645 2,586 ATTACHD 4 2.5
17212 CHAPIN WAY $850,000 725,000 314 2,541 DETACHD 3 2.5
1580 BONNIEBRAE DR $849,000 840,000 50 3,800 DETACHD 4 3
1340 CHERRY LN $1,348,000 1,200,000 5 5,922 DETACHD 4 4.2

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.

Market Activity Report ~ June 21-27, 2010

There was good activity with 26 New properties entering the market, 9 going to Pending status, and 11 Sold during last week’s Monday – Sunday period according to RMLS.  Condos and Townhomes are doing well with 1/3 of the Pending Sales and more than 1/3 of the Closed Sales in those categories.  10 of the 26 New properties, and almost half of the Pending Sales are priced under $350,000.   5 out of the 11 Sold were priced above $500,000., so the mid & upper end are also moving.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (June 21—27, 2010)

Address List Price Prop Type # Beds # Baths Total SF List Date
41 OSWEGO SMT $125,000 CONDO 1 1 764 6/26/2010
36 CRESTFIELD CT $135,000 ATTACHD 2 1 923 6/24/2010
3384 CARMAN DR $173,500 CONDO 2 2 1093 6/22/2010
5713 SW KENNY ST $203,910 DETACHD 3 2 1296 6/25/2010
4057 JEFFERSON PKWY $224,900 ATTACHD 3 2.1 1460 6/22/2010
605 Ash ST $235,000 DETACHD 3 2 1528 6/25/2010
18788 KRISTI WAY $299,950 DETACHD 3 2 1602 6/22/2010
17839 TAMARA AVE $345,000 DETACHD 3 1.1 1562 6/26/2010
595 6TH ST $349,000 DETACHD 2 2 893 6/26/2010
15364 TWIN FIR RD $349,900 DETACHD 3 1 1608 6/23/2010
1866 KILKENNY DR $375,000 DETACHD 3 3 3600 6/21/2010
2089 SW Glenmorrie $425,000 DETACHD 2 2 1551 6/24/2010
5 EL GRECO ST $479,000 DETACHD 4 2.1 2455 6/26/2010
1012 ANDREWS RD $499,900 DETACHD 3 2 2246 6/21/2010
277 EVERGREEN RD $539,000 ATTACHD 3 3.1 1936 6/22/2010
4786 AVERY LN $579,000 DETACHD 5 2.1 2927 6/26/2010
5783 VICTORIA CT $599,900 DETACHD 3 2 2500 6/24/2010
13226 ROGERS RD $625,000 DETACHD 4 2.1 3691 6/25/2010
4625 FIRWOOD RD $650,000 DETACHD 4 3 5264 6/26/2010
5288 DENTON DR $759,000 DETACHD 5 2.1 3240 6/21/2010
17424 BRYANT RD $775,000 DETACHD 4 4 3278 6/21/2010
16140 REESE RD $785,000 DETACHD 4 2.1 2953 6/24/2010
17446 BRYANT RD $795,000 DETACHD 4 4 3477 6/21/2010
15446 Boones Way $989,500 ATTACHD 3 2.1 3364 6/27/2010
1345 CHERRY LN $1,500,000 DETACHD 5 3.1 5259 6/23/2010
735 TERRACE DR $1,600,000 DETACHD 2 1.1 2470 6/21/2010

PENDING SALES (June 21-27, 2010)

Address List Price Prop Type # Beds # Baths Total SF CDOM
205 CERVANTES $124,900 CONDO 2 1.1 1216 145
4340 BOTTICELLI ST $229,900 CONDO 3 3.1 2098 134
908 LAKE FRONT RD $289,000 DETACHD 3 1 1398 98
116 TOUCHSTONE TER $299,000 CONDO 3 2.1 1856 327
1646 DEVON LN $424,500 DETACHD 4 2.1 2130 13
1642 HIGHLAND DR $429,000 DETACHD 4 3 2234 74
17701 LEAFY LN $529,000 DETACHD 4 3 3598 94
2311 OSWEGO GLEN CT $799,500 DETACHD 4 4 4410 336
2479 PALISADES CREST DR $799,999 DETACHD 5 3.1 6640 268

SOLD (June 21-27, 2010)

Address Orig. Price Close Price Prop Type # Beds # Baths Total SF CDOM
4000 CARMAN DR $129,000 $95,000 CONDO 2 2 836 77
3433 MCNARY PKWY $125,000 $110,000 CONDO 2 2.1 1136 25
5 SUMMIT RIDGE CT $298,500 $276,000 ATTACHD 2 2.1 1576 58
18620 INDIAN CREEK DR $379,900 $362,000 DETACHD 3 2 2022 30
550 2ND ST $410,000 $400,000 ATTACHD 2 1.2 1520 110
17942 SAINT CLAIR DR $449,900 $445,000 DETACHD 4 2.1 2391 139
5711 SOUTHWOOD DR $559,000 $515,000 DETACHD 4 3 2655 22
19266 SW MEGLY CT $589,900 $573,000 DETACHD 4 3 3575 49
5774 BAY POINT DR $625,000 $625,000 DETACHD 5 2.1 3674 4
3820 SOUTHSHORE BLVD $950,000 $900,000 DETACHD 5 4 4855 227
17979 CRESTLINE DR $1,149,000 $1,110,000 DETACHD 4 2.1 4650 7

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.

Market Activity Report for June 14-20, 2010

Last week brought 16 new listings, 14 pending sales, and 12 closed sales. I think what I find most interesting is the CDOM (cumulative days on the market). It does seem that things are selling either really fast or really slowly. Correct pricing is what makes the difference! And notice the house on Polonius: it not only sold in 8 days, but for $15,000 over the asking price. Yes, this may have reflected built in costs for closing costs or some other concession, but it is still a rare event in this economy. And it does mean that the seller had an eager buyer who was not haggling the price down.

Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (June 14—20, 2010)

Address List Price Total Br Total BTHS SQ FT Prop Type
222 RIDGEWAY RD $125,000 1 1 756 CONDO
139 TOUCHSTONE CT $279,900 2 2 + .5 1,846 ATTACHD
4321 WOODSIDE CIR $289,000 3 2 1,532 ATTACHD
17683 ARBOR LN $339,900 3 2 1,946 DETACHD
1117 HEMLOCK ST $349,900 3 2 1,680 DETACHD
18651 DON LEE WAY $384,900 4 2 1,630 DETACHD
15012 TWIN FIR RD $399,000 5 2 3,532 DETACHD
15008 TWIN FIR RD $399,000 5 2 3,372 DETACHD
524 2ND ST 439000 2 2 + .5 1,547 CONDO
17681 LEAFY LN 449000 4 3 2,242 DETACHD
10 HILLSHIRE DR 549900 4 3 3,152 DETACHD
6 MORNINGVIEW LN 659000 4 3 3,998 DETACHD
116 3RD ST 675000 2 1 915 DETACHD
649 9TH ST 819000 3 2 + .5 2,852 DETACHD
1250 SUNNINGDALE RD 825000 5 3 + .5 4,073 DETACHD
245 CHANDLER PL 949850 4 2 + .5 + .5 3,733 DETACHD

PENDING SALES (June 14-20, 2010)

Address List Price Total BR Total BTHS SQ FT Prop Type CDOM
5225 JEAN RD $155,000 2 2 1,400 CONDO 28
4224 HAVEN ST $269,900 4 2 2,752 DETACHD 39
3388 EDGEMONT RD $279,900 3 2 + .5 1,968 DETACHD 283
17518 REDFERN AVE $355,000 3 2 1,831 DETACHD 715
540 2ND ST $410,000 2 2 + .5 1,520 CONDO 870
17845 SARAH HILL LN $417,000 4 2 + .5 2,970 DETACHD 9
53 D AVE $435,000 3 3 2,211 DETACHD 518
17387 CANYON DR $479,000 3 2 + .5 1,955 DETACHD 11
4089 MELISSA DR 524900 4 2 + .5 2,710 DETACHD 9
5678 CHARLES CIR 525000 3 4 3,455 DETACHD 495
18282 ANDUIN TER 625000 4 2 + .5 3,765 DETACHD 1
14370 PFEIFER DR 669000 4 2 + .5 3,318 DETACHD 12
11 HILLSHIRE DR 825000 4 2 + .5 3,415 DETACHD 33
18735 BRYANT RD 909900 5 3 + .5 5,323 DETACHD 149

SOLD (June 14-20, 2010)

Address Original Price Close Price Prop Type SQ FT CDOM
109 OSWEGO SMT $144,900 $141,900 CONDO 1212 47
12846 SW BOONES FERRY RD $225,000 $199,000 CONDO 1136 532
3485 DEVONSHIRE DR $264,900 $250,000 ATTACHD 1556 16
12 POLONIUS ST $246,600 $261,000 DETACHD 3275 8
136 TOUCHSTONE TER $350,000 $267,500 DETACHD 1996 243
15148 QUARRY RD $279,000 $279,000 DETACHD 1618 11
3056 WEMBLEY PARK RD $339,000 $285,000 DETACHD 2600 36
31 DA VINCI ST $399,900 $352,000 DETACHD 2232 249
1545 CLOVERLEAF RD 579950 $535,000 DETACHD 2723 59
13090 KNAUS RD 995000 $600,000 DETACHD 5578 357
5218 WESTFIELD CT $699,500 $607,000 DETACHD 3125 284
13081 KNAUS RD 1795000 $1,400,000 DETACHD 3269 58

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.

Analyzing Market Trends

Foothills Park, Lake Oswego, Oregon

I think the most common question I am asked is “How’s business?”, which I think really means “What’s the market doing?”  In my circle of friends, homeownership is the norm.  And in today’s economy, everyone is hoping that their home is holding it’s value.  For my clients, they are wanting me to give them insight into the buying/selling climate.  So staying on top of trends is pretty critical.  Today I am going to break down the Lake Oswego market and give you some specifics.

First, some good news:  Lake Oswego, according to the latest market action report from the RMLS, has done the second best job of holding value in the metro area comparing May of  ’09 to May of ’10.  Values are down in Lake Oswego, year over year, 7.8%.  The only part of the metro area that did better was North Portland with a loss of 6.3%.  The worst faring area was Yamhill County, which is down 13%.  Wow, did I really just call that good news?  We are down 7.8%!  Perhaps the better way to see it is that this is less bad news than it could have been.

The average sales price in area 147, which is Lake Oswego and West Linn combined, is $443,500.  The total days on the market is averaging 153 days.

I think it is important to do this analysis by price range.  Watching our weekly market action reports, it is pretty obvious that the houses priced in the less expensive range, such as $600,000 or less, are selling much more actively than the houses in the higher prices.  Here is a breakdown by price:

Price Currently for Sale Sold in Last 6 Months # Per Month Length of Inventory
$1,000,000 + 105 15 3 42 months
$900,000-$1,000,000 19 4 1 28 months
$800,000-$900,000 50 6 1 50 months
$700,000-$800,000 42 12 2 21 months
$600,000-$700,000 53 21 4 15 months
$500,000-$600,000 74 35 6 12 months
$400,000-$500,000 79 43 7 11 months
$300,000-$400,000 60 60 10 6 months
$200,000-$300,000 29 36 6 4 months
$100,000-$200,000 3 2 0 9 months

At a glance, the idea is that the lower the length of inventory, the stronger that part of the market is. And that makes it easy to see that the lower the price on the house, the stronger the market. There are also two surprising quirks. Notice that the market inventory is actually worse in the $800,000-$900,000 price range than it is in the houses priced at $1,000,0000+. Why? I am thinking that part of the market is competing with the houses that are at $1,000,000 plus and that when buyers get up that high in price, it is still easy to justify pushing the purchase up just a bit more to get what they really want. In other words, there still is not enough of a value difference at $800,000 vs $1,000,000. However, that idea is just my speculation. I also think at $800,000 you are seeing a lot of older homes. They do have a hard time competing against the newer homes, which there are lots of, that have the soaring ceilings and palatial kitchens and baths. Second, the houses priced under $200,000 just aren’t selling fast either. I am quite certain that this is because at that price the house is pretty much a tear down and in such rough shape that the value is in the land. That means the buyer is going to be a builder and the builders are still sitting on so much inventory that they aren’t buying up the land.

I also have to say that the market is very balanced between buyers and sellers in the homes valued $300,000-$400,000 and even up into $400,000-$500,000. This part of the market is moving well with homes coming onto the market and selling respectably within reasonable periods of time. If you are buying in this part of the market, and the house is in nice condition, be aware of values. If it’s priced right, it’s going to sell and your buying power is not as strong as it would be in the higher price ranges.

And for those of you in the upper pricing, you are still in a very strong buyer’s market. Sellers are still competing with way too many other houses. You should be able to negotiate hard on price and terms.

Affordable Houses: LO vs Sellwood
I periodically like to compare affordable houses in Lake Oswego to the same houses in Sellwood, a neighborhood I used to live in not too far away in SE Portland. I like to do this because I remain convinced that Lake Oswego is often overlooked by buyers who are seeking affordable housing. This is because of LO’s reputation as a wealthy community. Time and again I have been able to prove that there are more homes to choose from in LO than in Sellwood that are affordable. Today is no different. Affordable, by my definition, are homes price below $350,000.

As of today, there are currently 61 homes for sale in Lake Oswego priced below $350,000. The least expensive is a 3 bedrooms, 1.5 bath house with 1000 square feet and a single car garage that was built in 1957. It is actually in pretty nice condition,although close to I-5, and it is priced at $189,000. In Sellwood there are 19 houses priced under $350,000. The least expensive is a 2 bedroom, 1 bath house with a single car garage that was built in 1920. It has 838 square feet + 810 square feet in an unfinished basement. It’s priced at $234,500.

I think the most burning question today is what is going to happen to the market now that the tax credit is over. I do think that there was a huge boost in the market by people trying to get into escrow by the end of April. I also know that May was slow for me, as far as new business. However, June has got my phone ringing and I am very busy. So my personal observation is that our normal spring/summer upswing is happening. Time will tell.

Yours, Dianne

Market Activity Report ~ June 7 – 13, 2010

There were a whopping 22 New properties entering the market, 14 going to Pending status, and 16 Sold during last week’s Monday – Sunday period according to RMLS.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (June 7—13, 2010)

Address List Price Prop Type # Beds # Baths Total SF List Date
6447 MCEWAN RD $209,900 DETACHD 2 1 912 6/7/2010
65 GREENRIDGE CT $319,000 CONDO 2 2 1314 6/10/2010
17845 SARAH HILL LN $417,000 DETACHD 4 2.1 2970 6/9/2010
1646 DEVON LN $424,500 DETACHD 4 2.1 2130 6/11/2010
95 TANGLEWOOD DR $429,900 DETACHD 4 3 2285 6/10/2010
17778 MARYLCREEK DR $459,900 DETACHD 3 2.1 2741 6/11/2010
1899 WOODLAND TER $500,000 DETACHD 5 3.1 3031 6/10/2010
19319 SW DOGWOOD CT $519,900 DETACHD 5 2.1 3105 6/8/2010
4089 MELISSA DR $524,900 DETACHD 4 2.1 2710 6/8/2010
1885 CREST DR $549,000 DETACHD 4 2 2120 6/10/2010
2 MORNINGVIEW CIR $549,000 DETACHD 3 2.1 2954 6/9/2010
5758 CHARLES CIR $549,900 DETACHD 3 2 2371 6/10/2010
10 SCARBOROUGH DR $575,000 DETACHD 4 3 3537 6/7/2010
18263 ANDUIN TER $625,000 DETACHD 4 3 3100 6/8/2010
2415 PARK RD $749,900 ATTACHD 4 2.2 2581 6/13/2010
5287 LANGFORD LN $750,000 DETACHD 3 2.1 2972 6/8/2010
658 1ST ST $795,000 DETACHD 4 2.1 3359 6/7/2010
17884 KELOK RD $898,500 DETACHD 4 3.1 4124 6/7/2010
3155 DOUGLAS CIR $985,000 DETACHD 5 3.2 4517 6/9/2010
19460 EASTSIDE RD $995,000 DETACHD 4 3.2 4521 6/10/2010
1715 EDGECLIFF TER $1,730,000 DETACHD 4 4.1 4929 6/11/2010
3328 LAKEVIEW BLVD $3,750,000 DETACHD 5 5.2 6675 6/7/2010

PENDING SALES (June 7-13, 2010)

Address List Price Prop Type # Beds # Baths Total SF CDOM
100 KERR PKWY $59,900 CONDO 1 1 617 131
3433 MCNARY PKWY $125,000 CONDO 2 2.1 1136 25
1018 HEMLOCK ST $349,900 DETACHD 4 2 1950 8
5275 ROSEWOOD ST $359,000 DETACHD 4 2.1 2096 36
2104 WEMBLEY PARK RD $429,900 DETACHD 4 3 2052 102
18238 TAMAWAY DR $479,000 DETACHD 5 3 5504 110
13 WINDSOR CT $495,000 DETACHD 3 2 2212 19
3188 S GLENMORRIE DR $519,750 DETACHD 3 3 3066 35
14158 KIMBERLY CIR $530,000 DETACHD 5 3 3648 40
15422 BOONES WAY $698,900 ATTACHD 4 2.1 2586 645
17281 LOWENBERG TER $839,900 DETACHD 4 3.1 3709 494
1592 BAY VIEW LN $859,000 DETACHD 4 4.1 4087 87
17281 KELOK RD $1,195,000 DETACHD 3 3 2682 265
3114 DOUGLAS CIR $1,350,000 DETACHD 4 4 55420 577

SOLD (June 7-13, 2010)

Address List Price Prop Type # Beds Total Baths Total SF CDOM
100 KERR PKWY $77,500 CONDO 2 1.1 823 66
38 CERVANTES CIR $99,900 CONDO 2 1.1 912 230
287 CERVANTES $195,000 CONDO 3 1.1 1144 67
18420 DON LEE WAY $210,000 DETACHD 3 1 924 25
2320 GLEN HAVEN RD $279,900 DETACHD 3 1.1 1346 54
1559 WORTHINGTON ST $349,900 DETACHD 4 2 2016 43
18640 TUALATA AVE $349,900 DETACHD 4 3 2076 77
25 CHURCHILL DOWNS $385,000 DETACHD 4 3 2195 0
827 5TH ST $425,000 DETACHD 3 2 2124 86
1025 C AVE $408,950 DETACHD 3 2 2261 371
1436 GREENTREE CIR $474,000 DETACHD 4 2 3072 10
1055 COUNTRY CLUB RD $449,000 DETACHD 2 2 2528 8
17622 BROOKHURST DR $493,000 DETACHD 3 2.1 2909 42
561 2ND ST $589,000 CONDO 2 2 1561 67
13278 ROGERS RD $695,000 DETACHD 3 2.1 2964 177
2557 SOUTHSHORE BLVD $1,690,000 DETACHD 3 3.2 3604 299

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.