Property Blotter

February 21, 2023

Market Activity Feb 13-19, 2023

Last week in Lake Oswego we had 10 new listings, 6 homes move to pending status, and 6 closed/sold properties. That feels a little flat to me. It is a slight up tick in new listings, but I would have anticipated more pending and sold properties.

The average length of time that a property is in escrow is about 30 days. So I think back to January 13-19, still pretty early in the New Year, the wind down from the Holidays, just a slower time for the real estate market. That reflects directly onto our closed transactions for last week.

I still feel that the spring market will be strong. Time will tell.

See below for RMLS data.

New Listings Feb 13-19, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
4 Touchstone Dr #151	Condo	$224,900	3	2.5	1351
5133 Timbergrove St	Detached	$649,900	3	2	1440
1206 Cedar St	Detached	$775,000	3	1.5	1426
13379 Thoma Rd	Detached	$999,500	4	2.5	2594
1437 Greentree Circle	Detached	$1,025,000	4	3	2395
1215 Cedar St	Detached	$1,150,000	2	3	3236
16800 Lakeridge Dr	Detached	$1,290,000	4	3	2416
3875 Carman Dr	Detached	$1,395,000	4	4.5	3817
980 Lund St	Detached	$1,725,000	4	3.5	3098
17104 Canal Circle	Detached	$2,350,000	4	3.5	3473

Pending Sales Feb 13-19, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
30 Crestfield Ct #20	Condo	$339,000	2	2	989	11
200 Burnham Rd #304	Condo	$365,000	2	2	1305	6
1731 Aspen Ct	Detached	$619,000	3	2	1440	4
1448 Greentree Circle	Detached	$945,000	4	2.5	2649	24
24 Grouse Terr	Detached	$1,200,000	5	3.5	3673	16
4983 Park Bluff Pl	Detached	$2,349,500	4	3.5	4088	239

Sold/Closed Feb 13-19, 2023

Address	Type	List Price	Sold Price	Sq Feet	CDOM
86 Kingsgate Rd #63	Condo	$370,000	$265,000	849	156
16250 Pacific Hwy #81	Condo	$338,000	$315,000	841	99
18350 Pilkington Rd	Detached	$565,000	$605,000	1290	2
1600 Aspen St	Detached	$575,000	$650,000	2212	19
2845 Vale Ct	Detached	$900,000	$820,000	3157	101
17484 Bryant Rd	Detached	$1,825,000	$1,590,000	3615	129

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

February 19, 2023February 19, 2023

Jan 2023 – Portland Neighborhood Stats + LO

Overview/Fluctuations ~ January 2023 Market Data:

Inventory has risen again which is a hopeful sign for 2023. Though we show some activity decreases from last January, we’re rising in New & Pending Sales over December. Prices took a hit during December as Sellers looked to secure Buyers toward the end of the year. Time will tell how prices will be affected as the year progresses, but all signs on the street are of a heating market even in these cold temperatures with Buyers out making offers, & sometimes competing, which can move prices higher. NAR is predicting lower rates this year. So, essentially, there is a promising waft in the air with prices stabilizing somewhat and Buyers moving on with their lives.

Rates: “We have seen upward pressure on rates with inflation data coming in higher than expected, but thankfully no big move with rates staying in the lower 6% range.” Gary Boyer, Regional VP, Directors Mortgage

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

There were 1,938 New Listings in Jan– down 16% from 2,307 in Jan 2022 and up 80.6% from the previous month/Dec’s 1,073.
At 1,088 Jan 2023’s Closed Sales (Solds) are down 41.3% from Jan 2022’s 1,853, and decreased 25.7% from the previous month/Dec 2022’s total of 1,464.
At 1,771 Jan 2023’s Pending Sales (accepted Offers) are down 22.6% from Jan 2022’s 2,287, and rose 46.8% from the previous month/Dec’s total of 1,206.
The Average Sale Price for January 2023 of, $532,900 is down $53,700 from last year/Jan 2022’s $586,600, and down $33,800 from the previous month/Dec’s $566,700.
The “Median” Sale Price (the price smack dab in the middle of all sales) in January 2023 of $489,500 dropped $22,500 from Jan 2022’s $512,000, and down $18,000 from December 2022.

NEIGHBORHOODS/AREAS OF PORTLAND:

LAKE OSWEGO (January 2023):

132 Active Listings (Dec 142)
81 New Listings (Dec 40)
75 Pending Sales (Dec 35)
38 Closed Sales (Dec 59)
Average Sale Price for Nov: $1,005,400 (Dec $820,200)
NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month. Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
58 Days on the Market (Dec 58)

February 14, 2023February 14, 2023

Market Activity ~ Feb 6-12, 2023

Last week there were a trio of 9’s… 9 properties entering the market, 9 moving to Pending status and 9 that Sold/Closed. There are currently 87 homes available in Lake Oswego ranging from $176,900– to $9.9 mil.

NEW Feb 6-12, 2023

Address	List Price	Beds	Baths	SF	Prop Type
100 KERR PKWY #30	$176,900	1	1	617	CONDO
237 CERVANTES #19	$315,000	2	1.1	1216	CONDO
30 CRESTFIELD CT #30	$339,000	2	2	989	CONDO
200 BURNHAM RD #304	$365,000	2	2	1305	CONDO
14428 HOLLY SPRINGS RD	$650,000	3	2.1	1372	CONDO
1714 GREENTREE RD	$979,000	4	3	3110	DETACHD
2481 MARYLSHIRE LN	$1,495,900	6	4	4091	DETACHD
2886 UPPER DR	$1,649,900	4	3	2674	DETACHD
17627 KELOK RD	$2,995,000	4	3	4024	DETACHD

PENDING Feb 6-12, 2023

Address	List Price	Beds	Baths	SF	Prop Type	Days
14428 HOLLY SPRINGS RD	$650,000	3	2.1	1372	CONDO	2
19211 INDIAN SPRINGS RD	$759,000	4	3	2132	DETACHD	18
23 AQUINAS ST	$775,000	4	2.1	1840	DETACHD	10
17808 CARDINAL PL	$899,000	3	2	2008	DETACHD	5
757 C AVE	$1,299,900	4	3	2948	DETACHD	76
15791 TWIN FIR RD	$1,699,500	4	3.1	4035	DETACHD	197
2671 GLEN EAGLES RD	$1,795,000	3	3	4014	DETACHD	274
15784 TWIN FIR RD	$1,990,900	3	2.1	3471	DETACHD	5
3220 SOUTHSHORE BLVD	$2,490,000	2	3	3462	DETACHD	160

SOLD Feb 6-12, 2023

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
210 S STATE ST #5	$365,000	$345,000	2	1	1339	CONDO	70
30 CONDOLEA DR / Main	$450,000	$460,000	2	2	1420	CONDO	27
258 CERVANTES	$559,900	$560,000	3	2.1	2312	ATTACHD	3
15684 BOONES WAY	$815,000	$789,000	3	2.1	2425	DETACHD	97
3195 EDGEMONT RD	$975,000	$975,000	3	2	1858	DETACHD	4
913 SUNNY HILL DR	$1,250,000	$1,250,000	6	3.1	4196	DETACHD	7
789 E AVE	$1,899,900	$1,999,000	3	2.1	2733	DETACHD	4
17688 UPPER CHERRY LN	$2,850,000	$2,500,000	4	3.1	5040	DETACHD	67
17627 KELOK RD	$2,995,000	$2,995,000	4	3	4024	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 (***We’ve used “Days” in each category for ease of understanding) .

February 12, 2023

Pickleball in LO

Believe it or not, pickleball has been a hot bed of controversy for the last year or so in Lake Oswego. It has been played at George Roger’s Park for several years. It’s super popular and engages people of all ages. That popularity meant that the courts were used quite a lot. The noise of the game play bothered the residents in the neighborhood. It really bothered them. In January the Lake Oswego City Council voted to permanently close the courts at George Roger’s Park.

What is going to happen now?

In the same city council meeting that closed the courts at George Roger’s Park, the city council ordered Lake Oswego Parks and Recreation to explore converting the tennis courts at Westlake Park into Pickleball Courts. This process is expected to take about 10 months.

In the mean time, a local business owner is stepping up. Kent and Jami Drangsholt, owners of At the Garages Live Music Venue Eatery & Taphouse, are installing 2 full-sized Pickleball courts and 2 smaller, “dink” courts. Use of the courts will require a monthly membership, which is not ideal for everyone, however, I think the venue will be fun because along with Pickleball, people will be able to grab a bite to eat and to enjoy live music. I think it’s an attractive alternative while the community waits for the development of the courts at Westlake Park.

Lake Oswego does have a Pickleball Club. If you want to have the latest updates on Pickleball in Lake Oswego, this is a good place to start. For access to club information, click here.

I hope you have found this information to be helpful. As always, thanks for reading the blotter.

Dianne

February 9, 2023

Market Activity Jan 30-Feb 5, 2023

The market was rather quiet in Lake Oswego last week. There were 10 new listings, 3 of which sold quickly and are reflected here as pending sales, 13 pending sales and 4 closed sales.

I expect the market to really kick into gear the week after the super bowl. That is, in my experience, a very big week in real estate.

See below for RMLS data.

New Listings Jan 30-Feb 5, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
23 Aquinas St	Detached	$775,000	4	2.5	1840
4997 Mulholland Dr	Detached	$829,900	2	2.5	2468
13594 Blazer Trail	Detached	$895,000	3	2	1996
24 Grouse Terrace	Detached	$1,200,000	5	3.5	3673
21 D Ave #11	Condo	$1,665,600	2	2.5	1980
21 D Ave #15	Condo	$1,769,600	2	2.5	2094
21 D Ave #10	Condo	$1,802,400	2	2.5	2065

Pending Sales Jan 30-Feb 5, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
47 Eagle Crest Dr #18	Condo	$249,999	2	1	932	12
44 Eagle Crest Dr #24	Condo	$265,000	3	2	1085	5
30 Condolea Dr	Condo	$450,000	2	2	1420	27
1600 Aspen St	Detached	$575,000	3	2.5	2212	5
668 McVey Ave #57	Condo	$650,000	3	1.5	992	0
16061 Waluga Dr	Detached	$660,000	1	1	676	4
573 2nd St	Condo	$1,200,000	2	2.5	1659	15
17390 Grandview Ct	Detached	$1,450,000	4	4.5+.5	4502	8
776 Carrera Ln	Detached	$1,499,000	4	3	3449	28
18975 Olson Ave	Detached	$1,668,000	5	3	3569	144
1745 Mapleleaf Rd	Detached	$1,699,900	5	3.5	3661	100
16515 Inverurie Rd	Detached	$1,879,900	5	3.5	3490	3
1956 Highlands Loop	Detached	$2,750,000	5	4.5	4641	5

Sold/Closed Jan 30-Feb 5, 2023

Address	Type	List Price	Closed Price	Sq Feet	DOM
16 Summit Ridge Ct	Condo	$485,000	$454,900	1576	93
17920 Meadowlark Ln	Detached	$1,250,000	$1,168,500	2758	78
3900 Canal Rd	Detached	$1,850,000	$1,650,000	4934	0
4241 Cobb Way	Detached	$1,949,000	$1,949,000	3292	26

February 5, 2023

Tuesday Night Fun!

Here’s my pick this week for a free & fun adventure in Lake Oswego this week~

First Tuesday Music at the Lake Oswego Public Library features Dr Bryce Colson. He will bring his portable organ console and accompany the classic movies J. Searle Dawley’s Frankenstein (1910) and Buster Keaton’s The Haunted House (1921). In between he’ll have some fun and educational insights to share with the audience. Sounds Like fun! Be there~

Feb 7th – 6-8PM, 706 Fourth St, Lake Oswego. Contact April Younglove for more info: 503-534-5667 ayounglove@ci.oswego.or.us

January 31, 2023January 31, 2023

Market Activity ~ Jan 23-29, 2023

Last week there were 10 properties entering the market (New), 7 accepted Offers (Pending) and 6 that Sold/Closed in Lake Oswego. Right now there are 88 homes available ranging from $229,900 to $9.9 mil.

Here is the breakdown of last week’s activity:

NEW Jan 23-29, 2023

Address	List Price	Beds	Baths	SF	Prop Type
44 EAGLE CREST DR #24	$265,000	3	2	1085	CONDO
1600 ASPEN ST	$575,000	3	2.1	2212	DETACHD
1448 GREENTREE CIR	$945,000	4	2.1	2649	DETACHD
17390 GRANDVIEW CT	$1,450,000	4	4.2	4502	DETACHD
21 D AVE #6	$1,693,600	2	2.1	1999	CONDO
21 D AVE #3	$1,850,400	2	2.1	2178	CONDO
21 D AVE #8	$1,945,600	2	2.1	2183	CONDO
17173 CEDAR RD	$2,350,000	4	4.1	3996	DETACHD
1956 HIGHLANDS LOOP	$2,750,000	5	4.1	4641	DETACHD
17930 KELOK RD	$3,849,900	5	3.2	4715	DETACHD

PENDING Jan 23-29, 2023

Address	List Price	Beds	Baths	SF	Prop Type	Days
16250 PACIFIC HWY #81	$327,800	1	1	841	CONDO	99
19019 TERRY AVE	$674,900	3	2	1344	DETACHD	9
19176 SW BENFIELD AVE	$749,900	3	2	1538	DETACHD	3
1248 LARCH ST	$750,000	4	2	2347	DETACHD	6
13991 MAJESTIC CT	$789,000	3	2	1765	DETACHD	6
15684 BOONES WAY	$815,000	3	2.1	2425	DETACHD	97
21 D AVE #7	$1,804,000	2	2.1	2023	CONDO	434

SOLD Jan 23-29, 2023

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
4361 ALBERT CIR	$919,000	$752,500	4	2.1	2382	DETACHD	118
16439 LEXINGTON CT	$740,000	$845,000	2	2	1563	DETACHD	52
13659 WESTLAKE DR	$1,625,000	$1,550,000	4	3.1	4422	DETACHD	122
141 FURNACE ST/Lower	$1,750,000	$1,615,000	2	2.1	2249	CONDO	67
16873 CANYON DR	$1,980,000	$1,980,000	4	4	3632	DETACHD	48
16885 FERNWOOD DR	$2,149,000	$2,149,000	4	3.1	3753	DETACHD	43

January 28, 2023

Radon: Take Action

As January comes to a close, I want to take advantage of the fact that January is Radon Awareness Month. This is important as you buy or sell a home, but it’s also important simply as a human who lives in a contained environment. Whether you are buying or sell or not, you should test your house for radon.

Radon is a naturally occurring gas that is given off by granite boulders. These boulders are buried deep in the ground. You can’t see them, so you don’t know if they are there or not. This is why everyone should be doing radon tests.

I first became concerned about radon when I read an article in a local newspaper about 20 years ago. A resident of my neighborhood, in the Lake Grove section of Lake Oswego, died of lung cancer. He had been a non-smoker. After his death, his wife checked their home for radon and discovered elevated levels. It was the likely cause of his death.

It’s estimated that 20,000 deaths in the US each year are caused by radon exposure. It is the second leading cause of lung cancer, after cigarette exposure.

While some parts of the metro area are known for elevated radon levels (the Alameda Ridge is Northeast Portland is often referred to as Radon Ridge), radon can be found in Lake Oswego. I sold a house in Village on the Lake a number of years ago and radon was found. It was a lake-front house.

In Oregon, radon is fairly common in the northern Willamette Valley. This is a result of the Great Missoula Flood that occurred thousands of years ago. A huge ice dam formed in the area of what is now Sandpoint, Idaho. It contained a lake that went deep into Montana. When the ice melted it released a huge flow of water and debris that came across Eastern Washington, dug out the Columbia River Gorge, and came to rest in the Willamette Valley. This flow contained granite boulders that, today, are the primary source of radon in homes in this area.

While there is no known safe level of radon, it can be measured. The test is simple. You can buy a test at most home improvement stores. You set two canisters in your house for several days, then mail them off to a lab, and you get emailed results within about 10 days. It’s been awhile since I’ve done it this way, but I believe it costs under $100. Or you can hire a professional. This costs about $150. They set a test box into your house for 2 days and you get same day results.

Correcting radon is usually under $2000. Not super expensive.

My point here is that it’s easy to do. Realtors in Oregon are trained to make radon testing a part of the home inspection process. But do the test for the benefit of yourself even if you aren’t selling.

I hope you find this information helpful. Here’s to going into February living in the safest and healthiest home possible.

Dianne

January 27, 2023

Market Activity January 16-22, 2023

It feels to me like the market is really picking up. Multiple offers are happening again on well-priced houses. The inventory remains low, but it will pick up steam as we head towards spring.

Last week in LO there were 10 new listings, 7 of which sold fast and are represented here as pending sales. There were 13 houses that went pending, and 1 closed sale.

See below for RMLS data.

New on the Market January 16-22, 2023

Address	Type	Price	Bedrooms	Baths	Sq. Feet
44 Eagle Crest #23	Condo	$229,900	1	1	798
47 Eagle Crest #18	Condo	$249,999	2	1	932
16250 Pacific Hwy #75	Condo	$419,000	3	2	1593
16880 Tracy Ave	Detached	$539,900	3	1	1080
16019 Terry Ave	Detached	$674,900	3	2	1344
573 2nd St	Condo	$1,200,000	2	2.5	1659
2126 Wembley Pl	Detached	$1,795,000	4	3.5	3603

Pending Sales January 16-22, 2023

Address	Type	Price	Bedrooms	Baths	Sq. Feet	DOM
86 Kingsgate Rd #63	Condo	$265,000	2	2	849	156
3808 Botticelli St	Condo	$349,500	3	2	1224	3
12826 Boones Ferry Rd	Condo	$463,700	2	2.5	1182	73
258 Cervantes	Attached	$559,900	3	2.5	2312	3
18350 Pilkington Rd	Detached	$565,000	3	2	1290	2
1141 Devon Ln	Detached	$750,000	2	2.5	1932	17
791 4th St	Detached	$879,000	3	2	1568	240
1466 Nelson Ct	Detached	$1,149,000	4	3/5	3169	137
913 Sunny Hill Dr	Detached	$1,250,000	6	3.5	4196	7
853 E Ave	Detached	$1,999,000	3	3.5	2839	109
4938 Park Bluff Pl	Detached	$2,495,000	4	4.5	4046	167
17688 Upper Cherry Ln	Detached	$2,685,000	4	3.5	5040	67
3917 Southshore Blvd	Detached	$5,200,000	3	4.5+.5	5083	0

Closed/Sold January 16-22, 2023

Address	Type	List Price	Sold Price	Sq. Feet	CDOM
1612 Lake Front Rd	Detached	$950,000	$945,000	1831	51

January 22, 2023January 23, 2023

Dec ’22+Year-End Report~Portland Neighborhood Stats + LO

Here you’ll find the overall Monthly Report plus year-end details and Neighborhood Stats as of Dec 31st, 2022, with Lake Oswego broken out below:

Overview/Fluctuations ~ December 31, 2022 – YEAR-END Market Data:

Inventory has risen substantially over December last year, and steadily in the last few months. Average & Median Values have risen by approx. $40,000 over last year, which is good, but not as substantial an annual increase as in the previous few years. Activity/Volume (Actives/Pendings/Solds) decreased across the board from the last year/2021 and mostly occurring in the last few months as an apparent reaction to rates.

Rates: “Rates are still hovering in the lower 6% range. There has been less volatility lately which is a positive sign.” Gary Boyer, Regional VP, Directors Mortgage

The twelve months of 2022 compared to 2021: New Listings, (36,210) decreased 10.7%. Sales (26,852) decreased 24.2%, and Closed Sales (27,985) decreased 20.5%. By Comparison, Twelve months of 2021 as compared to 2020 from last year’s December Report read: New Listings, (40,531) increased 5.4%. Pending Sales (35,405) increased 7.8%, and Closed Sales (35,182) increased 9.8%.

According to the RMLS Market Action Report for the Portland Metro Area-Dec 2022:

There were 1,073 New Listings in Dec 2022 – down 32.9% from 1,599 in Dec 2021 and down 35.6% from the previous month/Nov’s 1,666.
At 1,464 Dec 2022’s Closed Sales (Solds) are down 43.3% from Dec 2021’s 2,582, and down 9.7% from the previous month/Nov 2022’s total of 1,621.
At 1,206 Dec 2022’s Pending Sales (accepted Offers) are down 37.9% from Dec 2021’s 1,942, and also down 19.5% from the previous month/Nov’s total of 1,498.
The Average Sale Price for December 2022 of, $566,700 is down $16,200 from last year/Dec 2021’s $582,900, and down $17,900 from the previous month/Nov’s $584,600. YTD Average is 610,900, up 6.8% (+15.8% in 2021)
The “Median” Sale Price (the price smack dab in the middle of all sales) in December 2022 of $507,500 is down $3,500 from last year/Dec 2021’s $511,000, and down $18,400 from the previous month’s $525,900. YTD Median is 548,400, up 7.7% (+15.7% in 2021)

Neighborhoods/Areas of Portland:

LAKE OSWEGO (December 2022):

142 Active Listings (Nov 173)
40 New Listings (Nov 73)
35 Pending Sales (Nov 48)
59 Closed Sales (Nov 69)
Average Sale Price for Nov: $820,200 (Nov $1,003,400)
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.
58 Days on the Market (Nov 42)