Last week we saw sparse activity largely attributable to the challenging weather & frozen roads inhibiting travel. Even so, however, 4 homes entered the market, 3 moved to Pending status, and 4 Closed/Sold. Two of the three Pending sales were on the market a very short period of time, one of them 4 days appearing as both New and Pending in this same report…so people are out looking for and buying homes regardless of the weather!
Here is the breakdown according to RMLS:
NEW Jan 15-21, 2024
Address
List Price
Beds
Baths
SF
Prop Type
4000 CARMAN DR #91
$295,000
$1
1
767
CONDO
45 EAGLE CREST DR #122
$315,000
$3
2
1348
CONDO
3804 BOTTICELLI ST
$330,000
$2
1.1
1132
CONDO
16184 LAKE FOREST BLVD
$510,000
$3
1
1342
DETACHD
PENDING Jan 15-21, 2024
Address
List Price
Beds
Baths
SF
Prop Type
Days
4000 CARMAN DR #91
$295,000
$1
1
767
CONDO
3
4 SW TOUCHSTONE DR #135
$345,000
$3
2.1
1303
CONDO
15
2255 GLEN HAVEN RD
$859,000
$3
3
2814
DETACHD
206
SOLD Jan 15-21, 2024
Address
Opening
Closed
Beds
Baths
SF
Prop Type
Days
11 OSWEGO #11
$332,800
$311,000
$2
2
1241
CONDO
2
4089 JEFFERSON PKWY
$445,000
$389,900
$2
2.1
1361
CONDO
446
16211 INVERURIE RD
$699,900
$725,000
$3
2.1
1819
DETACHD
26
2320 GLEN HAVEN RD
$2,169,900
$2,119,900
$3
4
3875
DETACHD
140
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 (***We’ve used “Days” in each category for ease of understanding) .
We don’t get severe weather very often. Generally, winter in Lake Oswego is mostly rainy with mild temperatures in the 40s. However, it is also pretty common that for a few days each winter we will get temperatures low enough to bring us snow and ice. Last week was one of those occasions. It was severe enough that the mayor of Lake Oswego declared a state of emergency. The unique factor was the snow and ice were accompanied by high winds. This brought down trees and tree limbs. And this led to power outages throughout the Portland metro area. At my house we lost power for 5 days. So here are a few of my take aways about being prepared and what to expect.
It may be cold.
If you can, install a generator. They come in different sizes. Small ones to just power your furnace and large ones for the entire house.
You can purchase indoor-rated propane heaters. This is what we used at my house. Make sure that they are indoor rated! With two heaters going we kept our kitchen at about 55 degrees.
Wear layers. Hats and gloves may feel goofy indoors, but they help a lot.
Drip your faucets. Just a small drip at each faucet can keep your pipes from freezing. Bursting pipes don’t have to be round two of coping with a cold snap if you take precautions.
If you haven’t lost power, you still need to take care of your pipes. Particularly if they are located in exterior walls. Consider leaving cupboard doors open so that the interior of the cupboards are well heated.
Buy things ahead of the weather event. Propane was a rare commodity and the stores around Lake Oswego were completely sold out. My son, who lives in Hillsboro, where they didn’t loose power, brought us propane that he purchased in that part of town. So stock up on things you’ll need before they are sold out: propane, candles, and batteries.
Take care of your trees
Hire an arborist to examine the trees in your yard. If you are considering buying a house, think about adding an arborist to your home inspection. Then do what they recommend. My husband and I have done this in our yard. It has paid for itself many times over. We just don’t have limbs and trees coming down. It’s not a 100% guarantee, but it has been money well spent in our household.
The bottom line is that these weather events happen. Be prepared and make it as smooth as possible. The heat will come back on and the yard will get cleaned up. And don’t forget to enjoy the winter wonderland!
My first market activity report of the new year. Love it!
Last week in Lake Oswego there were 7 new listings, one of which sold quickly and appears in this report as a pending sale. There were 10 properties that accepted offers and moved to pending status, and there were 5 closed sales.
See below for RMLS data.
New Listings Jan 8-14, 2024
Address
Type
Price
Bedrooms
Baths
Sq Feet
200 Burnham Rd #209
Condo
$412,000
2
2
1305
5554 Royal Oaks Dr
Detached
$850,000
3
2
1861
5995 Shakespeare St
Detached
$929,950
3
3
2600
4039 Canal Woods Ct
Detached
$1,450,000
4
3.5
4178
2711 Greentree Rd
Detached
$1,749,000
5
3.5
3315
17660 Wayside Ln
Detached
$2,600,000
5
5.5
5975
Pending Sales Jan 8-14, 2024
Address
Type
Price
Bedrooms
Baths
Sq Feet
DOM
1221 Boca Ratan Dr
Attached
$499,000
3
2.5
1812
78
51 Oriole Ln
Detached
$589,000
3
2
1216
99
16724 Roosevelt
Detached
$599,000
3
1.5
1270
3
369 5th St
Detached
$825,000
2
1
1552
52
21 Hidalgo St
Detached
$990,000
4
3
3392
78
29 Del Prado St
Detached
$1,050,000
4
2
3037
3
3857 Carman Dr
Detached
$1,095,000
3
2.5
2531
37
5320 Childs Rd
Detached
$2,100,000
6
3
4765
29
2320 Glen Haven Rd
Detached
$2,119,900
3
4
3875
10
4200 Old Gate Rd
Detached
$2,675,000
5
4.5
4871
9
Sold/Closed Jan 8-14, 2024
Address
Type
List Price
Closed Price
Sq Feet
CDOM
2031 Bonniebrae Dr
Attached
$555,000
$460,000
1611
119
12844 Boones Ferry Rd #117
Condo
$489,000
$475,000
1191
76
5453 Willow Ct
Attached
$762,000
$740,000
2446
91
1724 Oak St
Detached
$900,000
$878,000
2189
17
2348 Overlook Dr
Detached
$1,025,000
$900,000
2567
130
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.
It’s that time of year when our numbers have come in for the previous 12 months and we get to compare. I try to give a comprehensive look at the various areas or “Neighborhoods” (see Neighborhood Report graph below) that make up the Portland Metro area which includes Lake Oswego and breaks out our monthly comparison for LO also at the bottom. Here is the way it ended up!
Overview/Fluctuations ~ December 2023 – YEAR END Market Data:
It’s been an interesting and atypical year in real estate overall. What we can see is that the market seems to be stabilizing with Inventory on it’s way to normalizing and prices stabilizing somewhat, ie still up over last year, while down seasonally from the month prior. We’ve seen a decreasing trend in Activity since the beginning of the Fed’s rate-hiking spree in Fall of 2022, and/but that seems to be turning around now based on 2024’s start and coinciding with the Fed backing off and anticipated/stated continuance of that. All in all, the experts are predicting a flourishing 2024 real estate market, and that’s what we’re seeing on the ground in Portland, OR.
As for Lake Oswego: Lake Oswego is the standout that continues to see healthy appreciation through thick & thin!
Rates:“Despite volatility with inflation numbers, rates are holding under 7% and looking great!” Gary Boyer, Regional VP, Directors Mortgage
The twelve months of 2023 compared to 2022:New Listings, (29,689) decreased 18.%.PendingSales (21,363) decreased 20.4%, and Closed Sales (20,941) decreased 25.2%. By Comparison, Twelve months of 2022 as compared to 2021 from last year’s December Report: New Listings, (36,210) decreased 10.7%.Pending Sales (26,852) decreased 24.2%, and Closed Sales (27,985) decreased 20.5%.
According to the RMLS Market Action Report for the Portland Metro Area December 2023:
There were 1,026 New Listings in December which is down 4.4% from 1,073 in Dec 2022 and down 43.9% from the 1,828 in the previous month/November.
At 1,330 Dec 2023’s Closed Sales (Solds) are down 9.2% from Dec 2022’s 1,464, and decreased 1.0% from the previous month’s total of 1,344.
At 1,309 Dec 2023’s Pending Sales (Accepted Offers) are up 8.5% from Dec 2022’s 1,206, and down 9.2% from the previous month/November’s total of 1,441.
The Average Sale Price for Dec 2023 of, $586,800 is up$20,100. from last year/Dec 2022’s $566,700, and dropped $9,300 from the previous month/Nov’s $596,100.
The “Median Sale Price (the price smack dab in the middle of all sales) in Dec 2023 of $525,000 is up $17,500 from Dec 2022’s $507,500, & dropped $2,600 from Nov’s $527,600.
LAKE OSWEGO: (Month of Dec ’23)
171 Active Listings (Nov 199) 45 New Listings (Nov 75) 46 Pending Sales (Nov 73) 60 Closed Sales (Nov 81) Average Sale Price for Dec: $1,095,500 (Nov $1,068,800,500) 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. 71 Days on the Market (Nov 68)
The data listed above is as reported by the Regional Multiple Listing Service (RMLS)
The first week of 2024 in Lake Oswego saw 7 New properties enter the market, 8 move to accepted Offer/Pending status, and 2 Closed/Sold. Right now there are 107 homes available in Lake Oswego ranging from $199,900 to $11,500,000.
Here is the breakdown according to RMLS:
NEW Jan 1-7, 2024
Address
List Price
Beds
Baths
SF
Prop Type
100 KERR PKWY #32
$199,900
$1
1
617
CONDO
4 TOUCHSTONE #68
$275,000
$2
2
984
CONDO
4 SW TOUCHSTONE DR #135
$345,000
$3
2.1
1303
CONDO
16724 ROOSEVELT AVE
$599,000
$3
1.1
1270
DETACHD
12123 ORCHARD HILL WAY
$874,900
$4
2.1
2841
DETACHD
950 TERRACE DR
$1,950,000
$4
3.1
4619
DETACHD
1515 CHERRY LN
$2,675,000
$5
5.1
5719
DETACHD
PENDING Jan 1-7, 2024
Address
List Price
Beds
Baths
SF
Prop Type
Days
4 TOUCHSTONE #68
$275,000
$2
2
984
CONDO
3
18017 TUALATA AVE
$595,500
$3
2
1124
DETACHD
18
14232 KIMBERLY CIR
$1,250,000
$4
3
3672
DETACHD
84
322 2ND ST
$1,250,000
$3
3.1
1974
ATTACHD
68
670 1ST ST
$1,399,900
$3
2.1
2767
CONDO
133
17104 CANAL CIR
$1,895,000
$4
3.1
3473
DETACHD
325
12790 S FIELDING RD
$4,990,000
$6
7.1
9124
DETACHD
143
4745 DOGWOOD DR
AUCTION
$4
4
3920
DETACHD
43
SOLD Jan 1-7, 2024
Address
Opening
Closed
Beds
Baths
Prop Type
SF
Days
1720 FERNWOOD DR
$579,000
$667,500
$3
2
DETACHD
1560
5
4740 LAMONT CT
$825,000
$794,900
$3
2
DETACHD
1776
52
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 (***We’ve used “Days” in each category for ease of understanding) .
I had to share this graphic. Look at the Portland Metro area. There are only 3 parts of the community that did not loose value in the last year: Tigard/Wilsonville and Lake Oswego/West Linn. And appreciation in LO/WL has been a healthy 5.9%. You should feel very good about choosing Lake Oswego as a place to live or to aspire to live. Not only is it a terrific community, but it’s a great investment.
I think last week, the week between Christmas and New Year’s, is probably the slowest week of the year for real estate activity. Yet, real estate still happens. In Lake Oswego there were 2 new listings, one of which sold quickly, and appears in this report as a pending sale. There were 3 pending sales, and, impressively, there were 10 closed sales.
The reason that real estate still happens, even on the slowest week of the year, is because life still happens. People get married, get new jobs, have babies, life goes on. There is literally no time of the year that isn’t a good time to buy a house or to sell a house.
See below for RMLS data.
New Listings Dec 25-31, 2023
Address
Type
Price
Bedrooms
Baths
Sq Feet
4 Touchstone #143
Condo
$270,000
3
2.5
1350
Pending Sales Dec 25-31, 2023
Address
Type
Price
Bedrooms
Baths
Sq Feet
DOM
1621 Ash St
Detached
$699,900
3
2
1887
3
2348 Overlook Dr
Detached
$963,000
5
3
2567
83
4360 Westbay Rd
Detached
$1,245,000
4
3
2636
30
Sold/Closed Dec 25-31, 2023
Address
Type
List Price
Closed Price
Sq Feet
CDOM
86 Kingsgate Rd #22
Condo
$335,000
$299,500
924
125
4621 Lakeview Blvd C3
Condo
$329,900
$331,500
1178
12
141 Touchstone Ct
Attached
$589,000
$575,000
2066
90
16240 Parker Rd
Detached
$679,000
$650,000
1454
269
5270 Red Leaf Rd
Detached
$700,000
$670,000
1330
47
6050 Childs Rd
Detached
$900,000
$850,000
2129
17
18368 Tamaway Dr
Detached
$1,150,000
$1,130,000
3741
40
3324 Sabina Ct
Detached
$1,250,000
$1,212,500
2550
7
4974 Cascara Ln
Detached
$1,285,000
$1,285,000
3476
2
5309 Denton Dr
Detached
$1,620,000
$1,465,000
3626
26
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.
Linda and I want to wish you and yours a very Happy New Year filled with success, health, happiness, and everything you are striving for in the months ahead.
Well, as we come right up on the end of the year, things are still moving right along for those of us involved in the life-changing activities of real estate! Yes, a little slowed down last week, but we have 2 homes entering the market, 4 moving into Pending status and 4 that Sold/Closed! Right now there are 106 properties available in Lake Oswego ranging from $250,000 to 2 at $11,500,000. I’m posting pics of those two on the high end below. Under that you’ll find the breakdown for last week per RMLS:
The property on the left is on Northshore Rd (.66 Ac/ 13,462SF), and the one on the right is on S Fielding Rd (2.95 Ac/ 19,444SF) on the Willamette.
NEW Dec 18-24, 2023
Address
List Price
Beds
Baths
SF
Prop Type
18017 TUALATA AVE
$595,500
$3
2
1124
DETACHD
310 CHANDLER PL
$2,895,000
$4
3.1
3866
DETACHD
PENDING Dec 18-24, 2023
Address
List Price
Beds
Baths
SF
Prop Type
Days
640 SOUTH SHORE BLVD
$675,000
$3
2
2391
DETACHD
85
5453 WILLOW CT
$762,000
$3
2.1
2446
ATTACHD
91
12 INDEPENDENCE AVE
$839,500
$4
4
2994
DETACHD
23
6040 LAKEVIEW BLVD
$1,349,000
$5
3
3701
DETACHD
10
SOLD Dec 18-24, 2023
Address
Opening
Closed
Beds
Baths
SF
Prop Type
Days
86 KINGSGATE RD #1202
$298,000
$285,000
$2
2
849
CONDO
10
4 TOUCHSTONE #119
$318,900
$301,425
$3
2.1
1351
CONDO
69
13349 HIDDEN BAY CT
$1,100,000
$940,000
$3
3
3012
DETACHD
7
2248 SUMMIT CT
$2,450,000
$2,390,000
$4
2
3024
DETACHD
100
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 (***We’ve used “Days” in each category for ease of understanding) .
On this Christmas Day, Dianne and I wish you and your loved ones a holiday filled with all the cozy things you associate with this time of year. In this big world, we are grateful for so many things, and we wish you more of exactly what fills your home with Joy. Happy Holidays and Merry Christmas to you!
