Property Blotter

Last week in Lake Oswego there were 12 new listings, 2 of which sold very fast and appear in this report as pending sales. There were a total of 15 properties that accepted offers and moved to pending status (pretty good for October!), and there were 8 closed sales.

See below for RMLS data.

New on the Market Oct 2-8, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
45 Eagle Crest #220	Condo	$250,000	1	1	768
750 1st St E29	Condo	$350,000	1	1	986
16394 Lake Forest Blvd	Detached	$599,000	2	1.5	1112
17903 Ridge Lake Dr	Detached	$854,999	4	2.5	2540
1177 C Ave	Detached	$1,100,000	3	2	1957
1 Creekside Terr	Detached	$1,185,000	5	4	4230
14210 Amberwood Cir	Detached	$1,200,000	4	3	3391
4854 Upper Dr	Detached	$1,375,000	5	3	2879
13052 Knaus Rd	Detached	$1,690,000	4	3	3026
915 Cedar St	Detached	$1,695,000	4	3.5	3219

Pending Sales Oct 2-8, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
3433 McNary Pkwy #601	Condo	$325,000	2	2.5	1285	20
5225 Jean Rd #106	Condo	$400,000	3	2	1400	29
4093 Jefferson Pkwy	Condo	$419,000	2	2.5	1403	48
114 Greenridge Ct	Attached	$519,900	3	2	1824	74
668 McVey Ave #57	Condo	$549,000	3	1.5	992	39
2818 Poplar Way	Detached	$550,000	3	1	1056	34
15370 Twin Fir Rd	Detached	$560,000	3	2	1546	8
51 Oriole Ln	Detached	$589,000	3	2	1216	3
2834 Glenmorrie Dr	Detached	$895,000	2	3	2459	3
13851 Verte Ct	Detached	$939,000	4	3	2925	15
17144 Warren Ct	Detached	$999,000	4	2.5	2804	6
740 Pebble Beach Ct	Detached	$1,050,000	3	2	1745	6
14205 Edenberry Dr	Detached	$1,100,000	3	2.5	3219	16
1633 Maple St	Detached	$1,190,000	3	3	3448	122
503 Laurel St	Detached	$1,349,000	4	3.5	3169	115

Sold/Closed Oct 2-8, 2023

Address	Type	List Price	Closed Price	SQ Feet	CDOM
4323 Lakeview Blvd	Detached	$550,000	$561,000	1483	35
5051 W Sunset Dr	Attached	$620,000	$620,000	1734	12
4 Adams Ct	Detached	$699,900	$640,000	2287	50
17503 Schalit Way	Detached	$759,900	$755,150	1801	4
4840 Dogwood Dr	Detached	$1,125,000	$800,000	2716	95
1714 Greentree Rd	Detached	$920,000	$808,000	3110	190
14051 Chelsea Dr	Detached	$1,300,000	$1,350,000	3022	1
650 1st St	Condo	$1,595,000	$1,435,000	2767	101

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.

With all of the jitters about the economy that is currently filling the news cycle, I am finding these market activity reports particularly important. The biggest trend I am seeing is that houses are simply taking a little longer to sell, but they are selling. And this week’s report I find encouraging. A healthy real estate market has balanced numbers: as many houses are coming on the market as a going pending and as are selling. Last week in Lake Oswego this was solidly the case. There were 13 new listings, 2 of which sold quickly and appear in this report as pending sales. There were 13 pending sales and there were 11 closed sales. This is extremely balanced. It’s not a seller’s market, it’s not a buyer’s market, it’s a solid market.

See below for RMLS data.

New on the Market Sept 25-Oct 1, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
207 Oswego Summit	Condo	$390,000	2	2	1497
3672 Spring Ln	Condo	$439,900	2	2	1117
668 McVey Ave #42	Condo	$499,900	2	1	852
15370 Twin Fir Rd	Detached	$560,000	3	2	1546
640 Southshore Blvd	Detached	$760,000	2	2.5	2391
17144 Warren Ct	Detached	$999,000	4	2.5	2804
740 Pebble Beach Ct	Detached	$1,050,000	3	2	1745
5330 Carman Grove Ln	Detached	$1,100,000	3	2.5	2493
16850 Cortez Ct	Detached	$1,900,000	4	4	3650
15112 Quarry Rd	Detached	$1,950,000	5	4.5	3953
13799 Atwater Ln	Detached	$3,995,000	3	4	4700

Pending Sales Sept 25-Oct 1 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
5054 Foothills Dr A	Condo	$445,000	2	2	1252	2
1720 Fernwood Dr	Detached	$579,000	3	2	1560	5
15930 Waluga Dr	Detached	$599,900	3	1.5	1040	10
18351 Wood Thrush Way	Detached	$690,000	3	2	1762	4
16266 Parker Rd	Detached	$765,000	4	2	2014	66
1481 Greentree Circle	Detached	$875,000	4	3	2704	19
10 Independence Ave	Detached	$1,150,000	4	3.5	4192	70
5955 Clairmont Ct	Detached	$1,250,000	5	3	3292	1
3894 Tamarack Ln	Detached	$1,499,000	4	3.5	4035	23
5220 Firwood Rd	Detached	$1,999,000	3	2.5	2507	5
611 Ridgeway Rd	Detached	$2,099,000	4	5.5	4847	44
4247 Lords Ln	Detached	$2,399,000	4	3.5	3840	102
956 Westpoint Rd	Detached	$8,950,000	4	4.5+.5+.5	5235	111

Sold/Closed Sept 25-Oct 1, 2023

Address	Type	List Price	Sold Price	Sq Feet	CDOM
16200 Pacific Hwy #29	Condo	$500,000	$500,000	1207	9
17825 Tualata Ave	Detached	$535,000	$540,000	1182	11
47 GreenridgeCt	Attached	$534,900	$550,000	1176	2
1368 Boca Ratan Dr	Attached	$610,000	$592,500	1683	109
89 Kingsgate Rd	Detached	$675,000	$640,000	1713	29
6062 Burma Rd	Detached	$650,000	$649,000	1875	96
16 Aquinas St	Detached	$699,000	$675,000	1720	27
529 Livingood Ln	Detached	$800,000	$800,000	2124	4
21 Aquinas St	Detached	$799,900	$930,000	2578	7
13880 Knaus Rd	Detached	$1,500,000	$1,375,000	3762	58
2600 Glenmorrie Dr	Detached	$2,298,000	$2,175,000	4232	13

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.

Fall is definitely in the air and the real estate market in Lake Oswego is transitioning into the typical ebbing of the season. We had 10 new listings last week, one of which sold quickly and appears in this report as a pending sale. We had 16 properties move to pending status and 13 closed sales.

See below for RMLS data.

New Listing Sept 11-17, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
45 Eagle Crest Dr #401	Condo	$278,000	1	1	768
3672 Spring Ln	Condo	$450,000	2	2	1117
12844 Boones Ferry Rd	Condo	$489,000	2	2.5	1191
51 Greenridge Ct	Attached	$525,000	2	2	1348
1975 Mapleleaf Rd	Detached	$725,000	4	2	2330
5097 Rosewood St	Detached	$775,000	4	2.5	1920
13932 Sundeleaf Dr	Detached	$1,449,000	3	2.5	3068
47 Hillshire Dr	Detached	$1,550,000	4	2.5	3324
13084 Amber Pl	Detached	$5,850,000	3	3	5685

Pending Sales Sept 11-17, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
100 Kerr Pkwy #42	Condo	$220,000	2	1.5	822	59
30 Cervantes Circle	Condo	$277,000	2	1.5	1112	22
92 Cervantes Circle	Condo	$279,000	2	1.5	912	93
3972 Carman Dr	Condo	$395,000	2	2.5	1225	5
4306 Botticelli St	Condo	$450,000	2	2.5+.5	2043	62
18521 Don Lee Way	Detached	$475,000	3	2	1226	2
47 Greenridge Ct	Attached	$534,900	2	1.5	992	23
668 McVey Ave #57	Condo	$549,000	3	1.5	992	23
1795 Kilkenny Rd	detached	$568,000	3	2	1449	42
5053 W Sunset Dr	Attached	$595,000	2	2.5	1720	29
5051 W Sunset Dr	Attached	$620,000	2	2.5	1734	12
4 Adams Ct	Detached	$675,000	3	2.5	2287	21
378 9th St	Detached	$1,250,000	3	2.5	2019	61
4688 Upper Dr	Detached	$2,198,000	4	3.5	3962	14
7 Dover Way	Detached	$2,595,000	5	5.5	7803	106
445 Northshore Rd	Detached	$3,195,000	3	3.5	3066	151

Sold/Closed Sept 11-17, 2023

Address	Type	List Price	Sold Price	Sq Feet	CDOM
3876 Botticelli St #31	Condo	$355,000	$360,000	1110	27
2 Condolea Dr	Condo	$469,000	$464,000	1312	8
12886 Boones Ferry Rd	Condo	$475,000	$475,750	1182	8
49 Greenridge Ct	Attached	$525,000	$523,000	1596	3
100 Greenridge Ct	Attached	$525,000	$535,000	2004	6
5059 W Sunset Dr	Attached	$649,000	$587,500	1794	53
85 Tanglewood Dr	Detached	$599,000	$630,000	2323	1
15718 Murwood Ct	Detached	$840,000	$800,000	1988	12
2401 Mayors Ln	Detached	$900,000	$845,000	3076	30
2432 Park Rd	Detached	$875,000	$872,500	2386	5
7 Cellini Ct	Detached	$1,200,000	$1,205,000	3560	3
4230 Sunset Dr	Detached	$1,699,000	$1,600,000	3250	24
18475 Crestline Dr	Detached	$2,995,000	$2,995,000	4910	5

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

Here is your monthly look at what’s happening in Portland metro and how it relates to Lake Oswego (broken out at the bottom):

Overview/Fluctuations ~ August 2023 Market Data:                                                                      

In August Inventory showed a bit of a dip but not much. We still have a pretty pronounced shortage of homes persisting. Prices are down from July in most places. Check out the Neighborhood Report below for specifics on various parts of Portland’s metro & surrounding areas.

Rates: “The Fed meets this week and no moves are expected. That is a good sign for rates moving forward”       Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report  for the Portland Metro Area-August 2023:

• There were 2,923 New Listings in August– which is down 8.9% from 3,209 in August 2022 and  up 0.8% from the 2,899 in the previous month/July.
• At 2,155 August 2023’s Closed Sales (Solds) are down 16.5% from August 2022’s 2,581, and increased 12.7% from the previous month’s total of 1,912.
• At 2,053 August 2023’s Pending Sales (Accepted Offers) are down 18.9% from August 2022’s 2,530, and also down 4.3% from the previous month/July’s total of 2145.
• The Average Sale Price for August 2023 of, $608,300 is up a slight  $600. from last year/August 2022’s $607,700, and down $12,100 from the previous month/July’s $620,400. 
• The “Median Sale Price (the price smack dab in the middle of all sales) in August 2023 of $536,000 dropped $12,400 from August 2022’s $548,400, & $13,900 from July’s $549,900.

NEIGHBORHOODS REPORT:

LAKE OSWEGO: (August ’23)

290 Active Listings (Jul 274)
151 New Listings  (Jul 176)
93 Pending Sales (Jul 109)
111 Closed Sales  (Jul 113)
Average Sale Price for August: $1,184,900 (Jul $990,700)
NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
44 Days on the Market   (Jul 31)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS).

Last week Lake Oswego saw 20 properties enter the market, 13 move to Pending status, and 11 Closed/Sold. Right now there are 195 homes to choose from ranging from $220,000 to $11,500,000.

Here is the breakdown:

NEW Sept 4-10, 2023

Address	List Price	Beds	Baths	SF	Prop Type
12802 BOONES FERRY RD	$395,000	$2	2.1	1225	CONDO
782 LAUREL ST	$400,000	$3	2	1400	CONDO
47 GREENRIDGE CT	$450,000	$2	2	1350	CONDO
668 MCVEY AVE #14	$479,000	$1	1	636	CONDO
2400 PARK RD	$505,000	$3	2.1	1182	CONDO
5051 W SUNSET DR	$534,900	$2	1.1	1176	ATTACHD
3972 CARMAN DR	$620,000	$2	2.1	1734	ATTACHD
14051 CHELSEA DR	$815,000	$3	2.1	2730	ATTACHD
1776 RIDGECREST DR	$865,000	$3	2.1	1966	DETACHD
3520 LAKE GROVE AVE	$875,000	$5	2.1	1962	DETACHD
1101 CRESTLINE CT	$875,000	$4	3	2704	DETACHD
8 HOTSPUR ST	$1,300,000	4	3	3022	DETACHD
455 9TH ST	$1,495,000	3	2	1589	DETACHD
1142 CRESTLINE CT	$1,549,000	3	4	2550	DETACHD
12 MORNINGVIEW LN	$1,895,000	3	2.1	2169	DETACHD
1125 NORTHSHORE RD	$2,598,000	4	3.1	3624	DETACHD
1481 GREENTREE CIR	$2,600,000	4	3.1	3911	DETACHD
750 1ST ST #16	$3,299,000	$4	4.2	7226	DETACHD
17264 LAKE HAVEN DR	$4,950,000	$5	5.1	6440	DETACHD
5225 JEAN RD #106	$5,995,000	$4	4.1	5876	DETACHD

PENDING Sept 4-10, 2023

Address	List Price	Beds	Baths	SF	Prop Type	Days
15290 QUARRY RD	$499,900	$3	1	990	DETACHD	51
16200 PACIFIC HWY #29	$500,000	$2	2	1207	CONDO	9
42 SPINOSA	$650,000	$3	2.1	2056	DETACHD	85
107 KINGSGATE RD	$674,900	$3	2	1516	DETACHD	12
4980 SUNTREE LN	$699,000	$3	2.1	2135	DETACHD	67
4500 GALEWOOD ST	$775,000	$3	3	2373	DETACHD	65
529 LIVINGOOD LN	$800,000	$3	2.1	2124	DETACHD	4
13410 S FIELDING RD	$949,000	$3	2	1837	DETACHD	25
4840 SW DOGWOOD DR	$949,000	$3	3	2716	DETACHD	95
13920 SHIREVA DR	$1,300,000	$5	3	3212	DETACHD	12
14051 CHELSEA DR	$1,300,000	$4	3	3022	DETACHD	1
650 1ST ST, Grnd	$1,500,000	3	2.1	2767	CONDO	101
19494 SW Lorna LN	$2,989,000	4	4.2	4806	DETACHD	276

SOLD Sept 4-10, 2023

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
100 KERR PKWY #31	$219,500	$219,000	$1	1	617	CONDO	14
19201 INDIAN CREEK AVE	$669,900	$669,900	$4	2.1	1721	DETACHD	7
17753 OVERLOOK CIR	$824,900	$824,900	$4	3	3455	DETACHD	18
1590 HALLINAN ST	$874,900	$890,000	$4	2	2070	DETACHD	4
15789 MURWOOD CT	$974,900	$1,055,000	$4	2.1	2232	DETACHD	4
2411 GLEN EAGLES RD	$1,250,000	$1,200,000	$5	2.1	2100	DETACHD	9
13531 FIELDING RD	$1,395,000	$1,400,000	$4	3.1	4566	DETACHD	7
4665 FIRWOOD RD	$1,495,000	$1,587,300	$3	2.1	2574	DETACHD	2
455 9TH ST	$1,895,000	$1,895,000	$3	2.1	2169	DETACHD	0
915 OAK TER	$2,435,000	$2,191,777	$4	4	3816	DETACHD	298
2936 LAKEVIEW BLVD	$3,595,000	$3,500,000	$5	3.1	4208	DETACHD	4