Property Blotter

December 11, 2022December 12, 2022

November Numbers- Portland Real Estate Stats + LO

This is our monthly look at the overall Portland area and neighborhoods including Lake Oswego broken out below:

Overview/Fluctuations ~ November Market Data:

Inventory continues to increase and prices remain somewhat stable with many areas/neighborhoods of Portland rising from the previous month & some lowering a bit. Actual activity dropping in New Listings, Accepted Offers (Pendings) & Closed Sales from both the previous month (seasonal) & last year (likely adjusting for interest rate fluctuations).

“Real Estate remains the #1 asset class as a protection against inflation.” Brian Buffini

Rates: “Rates have been improving with inflation pressures easing. Right now 30-year fixed rates are in the low 6% range.” Gary Boyer, Regional VP, Directors Mortgage

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

There were 1,666 New Listings in Nov 2022 – down 25.3% from 2,229 in Nov 2021 and down 33.7% from the previous month/Oct’s 2,513.
At 1,621 Nov 2022’s Closed Sales (Solds) are down 42.8% from Nov 2021’s 2,832, and down 17.1% from the previous month/Oct 2022’s total of 1,955.
At 1,498 Nov 2022’s Pending Sales (accepted Offers) are down 43.7% from Nov 2021’s 2,660, and also down 18.4% from the previous month/Oct’s total of 1,835.
The Average Sale Price in November 2022 of, $584,600 is up $9,000 from last year/Nov 2021’s $575,600, and down $7,400 from the previous month/Oct’s $592,000.
The “Median” Sale Price (the price smack dab in the middle of all sales) in November 2022 of $525,900 is up $8,100 over last year/Nov 2021’s $517,800, and down $11,100 from the previous month’s $537,000.

LAKE OSWEGO (November 2022):

173 Active Listings (Oct 177)
73 New Listings (Oct 101)
48 Pending Sales (Oct 93)
69 Closed Sales (Oct 96)
Average Sale Price for Nov: $1,003,400 (Oct $933,800)
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.
42 Days on the Market (Oct 38)

December 10, 2022December 10, 2022

Market Activity ~ Nov 28-Dec 4, 2022

Last week lake Oswego had 2 properties enter the market, 1 move to Pending status and 12 Sold/Closed. Right now there are 103 properties available ranging in price from $260,000 to $7,650,000.

Here is the breakdown according to RMLS:

NEW Nov 28-Dec 4, 2022

Address	List Price	Beds	Baths	SF	Prop Type
757 C AVE	$1,499,900	4	3	2948	DETACHD
548 4TH ST	$1,535,000	3	4.1	3186	ATTACHD

PENDING Nov 28-Dec 4, 2022

Address	List Price	Prop Type	SF	Beds	Baths	Days
7200 CHILDS RD	$975,000	DETACHD	2988	4	4	15

SOLD Nov 28-Dec 4, 2022

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
4 TOUCHSTONE #147	$200,000	$150,000	3	2.1	1351	CONDO	0
4 TOUCHSTONEn #105	$210,000	$210,000	2	2	984	CONDO	3
112 OSWEGO SMT /Upper	$325,000	$315,000	2	2	1212	CONDO	13
4 SUMMIT RIDGE CT	$499,900	$440,000	2	2.1	1576	ATTACHD	93
6426 FROST ST	$699,900	$675,000	4	3	2276	DETACHD	17
6136 FERNBROOK CIR	$759,000	$759,000	3	2	1448	DETACHD	5
17608 SYDNI CT	$799,900	$775,000	4	2.1	2466	ATTACHD	126
18706 BRYANT RD	$789,900	$780,000	3	2.1	2489	DETACHD	6
314 2ND ST	$850,000	$890,000	3	3.1	1814	CONDO	9
5550 JEAN RD	$1,790,000	$1,450,000	4	4.1	3001	DETACHD	107
548 4TH ST	$1,535,000	$1,535,000	3	4.1	3186	ATTACHD	0
17312 BERGIS FARM DR	$1,920,000	$1,827,500	4	4.2	4804	DETACHD	0

December 4, 2022

2022 Tinseltown Trolley

December 9th, 10th, and 11th, you’ll have the opportunity to ride the Tinseltown Trolley.

The Trolley line runs from State Street North along the Willamette shore to the South Waterfront and then back again. The entire ride lasts about 45 minutes. The Trolley runs mostly during the summer, but it is brought out for one weekend in December to celebrate Christmas.

The Tinseltown event features games, sweet treats, caroling, lights, and a special visit from Santa.

Reservations are required. Adults cost $20 and children 12 years old and younger $17. To make a reservation, go to www.loparks.org or telephone 503-675-2549. For more information, click here.

Linda and I are hoping that you are enjoying the holidays!

Dianne

December 3, 2022

Market Activity November 21-27, 2022

Last week in Lake Oswego we had 3 new listings, one of which sold fast and is represented here as a pending sale, 5 properties move to pending status, and 7 sold/closed homes.

See below for RMLS data.

New on the Market November 21-27, 2022

Address	Type	Price	Bedrooms	Baths	Sq Feet
5857 Carman Dr	Detached	$575,000	2	1	972
1125 C Ave	Detached	$1,499,000	4	3	2574

Pending November 21-27, 2022

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
44 Eagle Crest Dr #41	Condo	$274,950	2	1	908	14
11 Summit Ridge Ct	Attached	$435,000	2	2.5	1576	60
17050 Tualatin St	Detached	$749,000	3	3	1905	1
1451 Greentree Circle	Detached	$950,000	4	3.5	2328	6
13248 Rogers Rd	Detached	$1,125,000	5	3.5	3107	118

Sold/Closed November 21-27, 2022

Address	Type	List Price	Sold Price	Sq Feet	CDOM
246 Ridgeway Rd 17B	Condo	$344,000	$351,300	753	6
236 Ridgeway Rd 16A	Condo	$360,000	$353,000	914	4
1728 Boca Ratan Dr	Attached	$509,000	$601,000	1485	2
72 Touchstone	Detached	$929,900	$865,000	3908	28
4051 Virginia Way	Detached	$999,000	$1,020,000	1903	49
5677 Charles Circle	Detached	$1,225,000	$1,165,000	2962	97
707 Lake Shore Rd	Detached	$2,950,000	$2,600,000	2992	112

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.

November 27, 2022

October Numbers- Portland Real Estate Stats + LO

This is our monthly look at the overall Portland area and neighborhoods including Lake Oswego broken out below:

Overview/Fluctuations ~ October Market Data: It’s fascinating to me as I take a look at this enigmatic market. Assessing neighborhoods (or areas of Portland) is of more interest to me than “overall” numbers as I can see closer to the ground that way. I added a couple columns so that we can look at the previous month/September vs October as that is where we can truly gauge the ultra-current local shifts. As much as I hear speculations about Buyer abstinence & power shifts in the market, I see that Inventory is up, and prices are not really doing anything dramatic. Some neighborhoods actually saw price increases in October over September, and the Median prices holding show that when push comes to shove, the price ranges people had in mind in Sept held firm in October. This surprises me a little, and/but is heartening in the sense that it may indicate: folks are moving ahead w/life plans regardless, prices have stabilized, and perhaps an & an understanding that rates are temporary/there are options to change them down the road a bit.

Rates: “Inflation is showing signs of peaking which is good news for mortgage rates. 30-year fixed rates are in the mid 6’s right now.” Gary Boyer, Regional VP, Directors Mortgage

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

There were 2,513 New Listings in Oct 2022 – down 22.2% from 3,232 in Oct 2021 and down 20.2% from the previous month/Sept’s 3,151.
At 1,955 Oct 2022’s Closed Sales (Solds) are down 37.5% from Oct 2021’s 3,129, and down 12.6% from the previous month/Sept 2022’s total of 2,237.
At 1,835 Oct 2022’s Pending Sales (accepted Offers) are down 42.4% from Oct 2021’s 3,187, and also down 8.4% from the previous month/Sept’s total of 2,003.
The Average Sale Price in October 2022 of, $592,000 is up $16,800 from last year/Oct 2021’s $575,200, and down $6,700 from the previous month/Sept’s $598,700.
The “Median” Sale Price (the price smack dab in the middle of all sales) in October 2022 of $537,000 is up $21,000 over last year/Oct 2021’s $516,000, and down $11,000 from the previous month’s $548,000.

LAKE OSWEGO (October 2022):

177 Active Listings (Sep 208)
101 New Listings (Sep 143)
93 Pending Sales (Sep 102)
96 Closed Sales (Sep 104)
Average Sale Price for Aug: $933,800 (Sep $959,100)
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.
38 Days on the Market (Sep 37)

November 24, 2022November 25, 2022

Happy Thanksgiving

Dianne and I wish you and yours a holiday filled with those you love and all that makes you feel warmth and appreciation. We are so grateful to have you, this community and each other this holiday season and always.

November 22, 2022November 22, 2022

Market Activity ~ Nov 14-20, 2022

Last week in Lake Oswego 11 properties entered the market, 10 move to Pending status, and 11 Closed/Sold. Right now there are 120 properties available ranging from $220,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Nov 14-20, 2022

Address	List Price	# Beds	# Baths	SF	Prop Type
4 TOUCHSTONE #147	$200,000	3	2.1	1351	CONDO
86 KINGSGATE RD, G102	$295,000	2	2	849	CONDO
1273 BOCA RATAN DR	$450,000	3	2	1398	ATTACHD
15960 SW LAKE FOREST BLVD	$624,900	3	1	1080	DETACHD
3 PERICLES	$725,000	4	2.1	2617	DETACHD
6450 FROST ST	$775,000	4	2.1	2216	DETACHD
17850 PILKINGTON RD	$875,000	3	2.1	3084	DETACHD
1451 GREENTREE CIR	$950,000	4	3.1	2328	DETACHD
4050 VIRGINIA WAY	$999,000	3	2	1344	DETACHD
765 10TH ST	$1,225,000	3	3	2526	DETACHD
19494 Lorna LN	$4,189,000	4	4.2	4806	DETACHD

PENDING Nov 14-20, 2022

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
4 TOUCHSTONE #147	$200,000	3	2.1	1351	CONDO	0
86 CERVANTES CIR #10-B	$230,000	2	1.2	912	CONDO	48
112 OSWEGO SMT/Upper	$325,000	2	2	1212	CONDO	13
1273 BOCA RATAN DR	$450,000	3	2	1398	ATTACHD	3
4226 WOODSIDE CIR	$535,000	3	2	1578	ATTACHD	45
3 PERICLES	$725,000	4	2.1	2617	DETACHD	2
6450 FROST ST	$775,000	4	2.1	2216	DETACHD	3
5677 CHARLES CIR	$1,225,000	4	2.1	2962	DETACHD	97
13371 ATWATER LN	$1,899,000	4	3	4795	DETACHD	27
16885 FERNWOOD DR	$2,149,000	4	3.1	3753	DETACHD	43

SOLD Nov 14-20, 2022

Address	Opening	Closed	# Beds	# Baths	Total SF	Prop Type	CDOM
17552 DEEMAR WAY	$475,000	$535,000	3	1.1	1050	DETACHD	4
15235 BOONES WAY	$624,900	$625,000	3	2	1686	ATTACHD	5
1105 HALLINAN CIR	$724,900	$699,000	3	2	1612	DETACHD	16
2 CREEKSIDE TER	$849,900	$849,900	4	2.1	2906	DETACHD	7
12 WALKING WOODS DR	$749,950	$850,000	3	3	2224	DETACHD	2
860 LAKE FOREST DR	$998,000	$864,000	5	2.1	2025	DETACHD	78
14400 TRILLIUM CT	$839,000	$900,000	4	2.1	3193	DETACHD	4
625 3RD ST	$1,050,000	$1,090,000	3	2.1	2645	ATTACHD	4
13218 DEERFIELD CT	$1,100,000	$1,160,000	4	2.1	2860	DETACHD	5
13504 STREAMSIDE DR	$1,279,000	$1,265,000	4	2.1	3486	DETACHD	94
3940 CANAL RD	$1,500,000	$1,500,000	4	3.1	3983	DETACHD	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 (***We’ve used “Days” in each category for ease of understanding) .

November 20, 2022

Tree Lighting Ceremony

Here in Lake Oswego, the annual Christmas Tree Lighting is quite the celebration. This year it is happening on November 25th from 3:00-8:00. This is the 58th year that this even has taken place.

The event takes place at Millennium Plaza Park, 200 1st Street in downtown LO.

Starting at 3:00 vendors will be set up to sell holiday crafts and foods, there will be visits with Olaf and Cham-bear, as well as an ice-carving demonstration. Escorted by the LO Fire Department, Santa will arrive at 5pm and be available for photos until 8:00. The LO Police Department will be on hand to help children write letters to Santa. They will also have a mailbox set up to mail the letters. The tree lighting is scheduled for 6pm.

All in all, it will be a great way to kick off the season. For all of the details on this event, click here.

November 18, 2022

Market Activity November 7-13, 2022

We are officially in the “holiday” season. The market has dramatically slowed down with just 6 new listings in Lake Oswego last week. 2 of those listings sold quickly and in this report appear as pending sales. We had 5 properties go pending, and 7 sold/closed properties.

See below for RMLS data.

New on the Market November 7-13, 2022

Address	Type	Price	Bedrooms	Baths	Sq Feet
44 Eagle Crest Dr #41	Condo	$274,950	2	1	908
219 Cervantes #219	Condo	$325,000	2	2	1100
3855 Rivers Edge Dr	Detached	$1,450,000	4	3	3101
310 Chandler Pl	Detached	$2,995,000	4	3.5	3866

Pending Sales November 7-13, 2022

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
4 Touchstone #105	Condo	$210,000	2	2	984	3
201 Certantes	Condo	$325,000	2	1.5	1247	32
16678 Inverurie Rd	Attached	$810,000	4	2	2666	1
643 4th St	Detached	$925,000	2	2	1453	3
3056 Wembley Park Rd	Detached	$1,350,000	4	2.5	2611	5

Sold/Closed November 7-13, 2022

Address	Type	List Price	Sold Price	Sq Feet	CDOM
6 Cervantes Circle	Condo	$255,000	$248,000	912	14
18150 Bryant Rd	Detached	$750,000	$770,000	1468	11
4673 Lakeview Blvd	Detached	$895,000	$899,000	2029	4
5524 Koderra Ave	Detached	$1,275,000	$1,170,000	2957	113
1685 Fernwood Dr	Detached	$1,425,000	$1,400,000	2592	4
1098 Chandler Rd	Detached	$3,995,000	$3,800,000	4003	32
12790 S Fielding Rd	Detached	$4,995,000	$4,900,000	9124	432

November 11, 2022

We Salute You on Veterans Day

Thank you. To all those who have served to protect our precious Freedoms.