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
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
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) .
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.
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
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 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)
Last week we saw 6 properties enter the market in Lake Oswego, 6 move to Pending status, and 3 Sold/Closed.
Right now there are 91 homes available in lake Oswego ranging from 229,900 to 9.9 mil.
Here is the breakdown according to RMLS:
NEW Jan 9-15, 2023
Address
List Price
Beds
Baths
SF
Prop Type
258 CERVANTES
$559,900
3
2.1
2312
ATTACHD
15430 PARTRIDGE DR
$746,500
4
2.1
2279
DETACHD
913 SUNNY HILL DR
$1,250,000
6
3.1
4196
DETACHD
530 MIDDLECREST RD
$1,659,000
4
3
3280
DETACHD
4694 UPPER DR
$2,098,000
3
3
3637
DETACHD
1960 Mapleleaf RD
$2,450,000
5
5.1
4099
DETACHD
PENDING Jan 9-15, 2023
Address
List Price
Beds
Baths
SF
Prop Type
Days
210 S STATE ST #5
$365,000
2
1
1339
CONDO
70
16 HOTSPUR ST
$799,000
4
3
2335
DETACHD
5
2845 VALE CT
$800,000
4
3
3157
DETACHD
101
3195 EDGEMONT RD
$975,000
3
2
1858
DETACHD
4
6545 CHILDS RD
$1,199,900
6
4.1
3508
DETACHD
28
789 E AVE
$1,899,900
3
2.1
2733
DETACHD
4
SOLD Jan 9-15, 2023
Address
Opening
Closed
Beds
Baths
SF
Prop Type
Days
5 GOYA ST
$680,000
$665,500
4
2.1
2586
DETACHD
39
2424 GREENTREE RD
$729,000
$735,000
3
2.1
1944
DETACHD
17
4920 MULHOLLAND DR
$805,000
$775,000
3
2.1
2498
ATTACHD
62
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) .
When I started in Real Estate 35 years ago, our sale agreement was one page, legal size, and there were few, if any, supplemental forms. If something additional needed to be added, like a home inspection, I took out a blank addendum and wrote it up myself. Over the years many, many forms have been added. The sale agreement is 11 pages long and there are about 100 supplemental forms.
Realtors are not attorneys, so it’s a good thing that we no longer write our own addendums for things like home inspections. However, we do have to know the forms inside and out. We use them and we need to be able to explain what they mean. This requires a lot of continuing education. Now, add to the mix that an entire new set of paperwork is being rolled out.
Signing Official Document
The forms that we have historically used were developed by Oregon Real Estate Forms, OREF. This entity primarily consisted of the two largest Realtor Associations in the state: Portland Metro and Eugene.
Now the Oregon Association of Realtors has developed a new set of forms. The old ones are not being retired, instead we will have 2 complete sets of forms to use and both are acceptable. This means that Realtors need to be training and learning about these new forms. There are pluses and minuses to both. I also think it’s likely that eventually one will dominate and my prediction is that it will be the new forms.
I am very proud to say that Linda and I have both been training for the past 2 months to become knowledgeable about the new forms. I think we are positioning ourselves to give the best service possible to our clients. I also want to give a shout out to Oregon First. Our company started this training, and went in depth with it, from the get go.
So, Linda and I are adapting and learning. It really is exciting and it feels good to know that we are positioning ourselves to give you the best experience possible when you buy or sell a house. We are here to be of help!
So exciting to be starting another new year in real estate! I’ve been seeing tulips in the stores and enjoying that feeling that spring is around the corner.
While there are not yet tulips in our yards, there are houses coming on the market and selling. Last week in Lake Oswego we had 3 new listings, one of which sold quickly and is reflected here as pending. We also had 5 pending sales and 5 closed sales.
Please see below for RMLS data.
New on the Market Jan 2-8, 2023
Address
Type
Price
Bedrooms
Baths
Sq Feet
16250 Pacific Hwy #57
Condo
$384,000
2
2
1305
30 Condolea Dr
Condo
$450,000
2
2
1420
Pending Sales Jan 2-8, 2023
Address
Type
Price
Bedrooms
Baths
Sq Feet
DOM
16439 Lexington Ct
Detached
$740,000
2
2
1563
52
1141 Devon Ln
Detached
$750,000
2
2.5
1932
5
4361 Albert Circle
Detached
$795,000
4
2.5
2282
118
17920 Meadowlark Ln
Detached
$1,200,000
4
2.5
2758
10
13052 Knaus Rd
Detached
$1,400,000
4
3
3026
23
Sold/Closed Jan 2-8, 2023
Address
Type
List Price
Closed Price
Sq Feet
CDOM
3433 McNary Pkwy #806
Condo
$324,900
$308,300
1136
49
1475 Cornell St
Detached
$799,000
$640,000
1599
103
1310 Lee St
Detached
$789,900
$730,000
2344
91
2350 Southshore Blvd
Detached
$996,000
$926,000
2236
52
13017 Knaus Rd
Detached
$1,898,000
$1,595,000
4690
148
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 are my picks for what to do this week in Lake Oswego, either online or in person:
Mon, Jan 9, 2022 – 11:15 AM- 12:30PM– Lunch at the ACC (M/W/F)- Call (503) 635-3758 for reservations. Adult Community Center, 505 G Ave – For more info CLICK HERE
Tues, Jan 10, 2022 – 6:30PM-8:00PM – Pints from the Past (Part 3) ~ 3rd in the 3-part series on Georgiana Pittock and the Pittock family presented by Mary and Michael Hutchens The Lake Theater &Cafe, 106 North State Street- More Info: CLICK HERE
Wed, Jan 11, 2022 – 10:00-11:30AM – Geneology Interest Group~ Meet in person or online on the 2nd Wed of each month with others interested in geneology research.505 G Ave – More Info + Link:CLICK HERE
Thurs, Jan 12, 2022 – 7:00PM– BIPOC Women’s Speaker Series at Mary’s Woods: Rep. Tawna Sanchez ~ In person at Mary’s Woods or live-streamed, enjoy this series featuring local BIPOC women as they answer the questions “What is your story? What are your passions?” ~ 17400 Holy Names Dr – More Info + Link:CLICK HERE
Fri, Jan 13, 2022 – 7:00-9:00PM –Living Well Dance – featuring the Millennium Dance Band ~ Come dance! Dance music as performed by the “Big Bands” of the 1930’s, 40’s, and 50’s, with an occasional ballroom favorite. $7.00 at the door ~ CCP, 1060 Chandler Rd. – All ages are invited (14 and under w/an adult) – More Info:CLICK HERE
Sat, Jan 14, 2022 – 3:00-4:00PM– Lego Club- T (ages K-5) Every 2nd & 4th Saturday at the Lake Oswego Public Library downststairs. Build & create based on optional themes. Legos provided! – 380 A Ave – More Info :CLICK HERE
Sun, Jan 15, 2022 -Martin Luther King Jr Celebration- 2:00PM – Join the community at Lake Oswego High School or online for this tribute featuring D.J Avalanche as M.C., a keynote address from Dr Shirley Jackson, Portland State University Professor with specializations in race, social movement and gender, Mayor Joe Buck, musical performances by premier male vocalist Alonzo Chadwick, Sr, and artwork created by community members. This will be followed by a car rally. ~ 2501 Country Club Rd – More Info + Links:CLICK HERE