Fall Events in LO

With fall in the air, there are some great events coming up her in Lake Oswego:

Farmer’s Markets

The Lake Grove Farmer’s Market is still going strong. It happens every other Sunday with 3 remaining for the year. The market will be available from 11:00-3:00 on October 30th, November 13th, and November 27th. It is held on Hallmark Dr in Lake Grove.

The Lake Oswego Farmer’s Market is finished for the year, but there will be a Reunion Market held on November 19th from 8:30-1:30. It is held at Millennium Plaza Park in downtown Lake Oswego.

Horse Drawn Wagon Ride

Happening the same day as the Reunion Farmer’s Market, November 19th and also at Millennium Plaza Park, take a 20 ride in a horse-drawn wagon through the streets of Lake Oswego. Reservations for the rides happening on the hour are already booked out, but first-come-first-serve rides are available on the half hours. Cost is $9 for those 13 years of age and older and $6 for those 0-12. For more information, click here

Monster Mash Spooktacular

Celebrate Halloween in a safe, family-friendly way by taking your kids to the Monster Mash Spooktacular. Put on by Lake Oswego Parks and Recreation, it is being held October 31st from 3:00-6:00. Dress up in costumes and go trick or treating at Christ Church Parish. There will be special appearances by both the Lake Oswego Police and Fire Departments. This is a free event for kids 0-12 years of age. Free trick-or-treating bags will be given out to the first 400 kids. For more information, click here.

Enjoy the glory of fall!

Dianne

Market Activity October 10-16, 2022

The last day of summer was yesterday. We have been enjoying temperatures in the 80’s all the way into mid October, but today that changes. High’s in the 50’s and rain in the foreseeable future.

With the arrival of fall, our market remains balanced but starting to slow down. In Lake Oswego last week we had 8 new listings, 4 of which sold quickly and appear in this report as pending sales. 15 properties went pending and 14 transactions sold/closed.

See below for RMLS details

New on the Market October 10-16, 2022

AddressTypePriceBedroomsBathsSquare Ft
4920 Mulholland DrAttached$805,00032.52498
2280 Southshore BlvdDetached$949,000422494
13218 Deerfield CtDetached$1,100,00042.52860
1454 Glenmorrie DrDetached$1,350,00032.53345

Pending Sales October 10-16, 2022

AddressTypePriceBedroomsBathsSquare FeetCDOM
48 Eagle Crest Dr 2ACondo$169,0003216235
6 Cervantes CirCondo$240,00021.591214
1988 Bonniebrae DrAttached$469,0003214994
1728 Boca Ratan DrAttached$509,0003214852
1172 Boca Ratan DrAttached$580,00032161120
1475 Cornell StDetached$699,00032159922
1105 Hallinan CirDetached$699,00032161216
18150 Bryant RdDetached$750,00032146811
4673 Lakeview BlvdDetached$895,0003220294
625 3rd StAttached$1,050,00032.526454
5524 Koderra AveDetached$1,100,00032.5295728
1685 Fernwood DrDetached$1,325,0005325924
2940 Canal RdDetached$1,500,00032.539832
12790 Fielding RdDetached$4,995,00067.5912491
21 D Ave #4Condo$2,067,00022.52431333

Sold/Closed October 10-16, 2022

AddressTypeList PriceClosed PriceSquare FtCDOM
4 Touchstone #77Condo$330,000$230,0001351128
256 CervantesAttached$548,907$520,0001984158
918 Lake Front RdDetached$708,000$650,00092111
5788 Langford LnDetached$650,000$650,000159814
5429 Kenny StDetached$715,000$660,000158461
1130 Hallinan CtDetached$650,000$660,00014634
1250 Hallinan CirDetached$825,000$700,000216857
18 Partridge LnDetached$780,000$780,000314517
32 Independence AveDetached$746,000$790,00034205
18591 Waxwing WayDetached$885,000$861,000214532
4264 Harvey WayDetached$925,000$862,500272836
16018 Waluga DrDetached$1,150,000$915,5001962135
4137 Orchard WayDetached$1,175,000$1,150,000368015
1287 Cherry LnDetached$2,999,000$3,000,00053124

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.

Sept Numbers- Portland Real Estate Stats + LO

Here is your snapshot of Real Estate Activity in the Portland Metro Area-Sept 2022: (LO broken out below)

Comparing the first nine months of 2022 to the same period in 2021, the Average Sale price has increased 8.6% overall and Median Sale price increased 8.9%. Sept volume in all categories (New, Pending & Sold) decreased from last year and the previous month, whereas in Sept of last year New Listings and Pending Sales actually increased. That said, this is now officially “Fall” and slowing down is normal. Inventory is up. Every year I especially tell Buyers that this is the absolute best time of year to buy in Portland, as Sellers tend to be more amenable to “discussions”, and this year it’s particularly pertinent. I’m also advising my New Listing clients to get their properties on the market now in order to get them Sold prior to the holidays setting in. In all cases, we know what is happening in the market right now and can plan around that, whereas we don’t know what will be happening in the Spring, for instance. Rates: “Currently 30-year fixed rates are in the mid 6% range. Inflation pressures are persisting, however we have finally seen some leveling off on that front.” Gary Boyer, Regional VP, Directors Mortgage

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

  • There were 3,151 New Listings in Sept 2022 down 16.2% from 3,760 in Sept 2021 and down 1.7% from the previous month/August’s 3,209.
  • At 2,237 Sept 2022’s Closed Sales (Solds) are down 29.4% from Sept 2021’s 3,167, and down 13.3% from the previous month/August 2022’s total of 2,581.
  • At 2,003 Sept 2022’s Pending Sales (accepted Offers) are down 36.8% from Sept 2021’s 3,170, and also down 20.8% from the previous month/August’s total of 2,530.
  • The Average Sale Price in September 2022 of, $598,700 is up $27,200 from last year/Sept 2021’s $571,500, and down $9,000 from the previous month/August’s $607,700.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in September 2022 of $548,00 is up $38,000 over last year/Sept 2021’s $510,000, and is nearly the same as the previous month’s $548,400.

LAKE OSWEGO (September 2022):

208 Active Listings (Aug 205)
143 New Listings  (Aug 151)
102 Pending Sales (Aug 117)
104 Closed Sales  (Aug 120)
Average Sale Price for Aug: $959,100 (Aug $950,000)
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.
37 Days on the Market   (Aug 25)

Market Activity ~ Oct 3-9, 2022

Last week Lake Oswego saw 15 properties enter the market, 11 move to Pending status, and 15 Sold/Closed. There are currently 126 available properties ranging from $169,000 to 11.5 mil.

Here is the breakdown according to RMLS:

NEW Oct 3-9, 2022

AddressList PriceBedsBathsSFProp Type
201 CERVANTES$325,00021.11247CONDO
1988 BONNIEBRAE DR$469,000321499ATTACHD
4226 WOODSIDE CIR$537,500321578ATTACHD
625 3RD ST$1,050,00032.12645ATTACHD
1685 FERNWOOD DR$1,325,000532592DETACHD
853 E AVE$1,850,00033.12839DETACHD
4241 COBB WAY$1,949,00043.13292DETACHD
17663 HILL WAY$1,999,000433375DETACHD
16885 FERNWOOD DR$2,149,00043.13753DETACHD
2320 GLEN HAVEN RD$2,385,000443875DETACHD
915 OAK TER$2,435,000443816DETACHD
3331 FIR RIDGE RD$2,499,000443771DETACHD
1012 LAKE FRONT RD$3,899,00044.14735DETACHD
1776 SKYLAND DR$4,975,00044.15034DETACHD
1455 CHANDLER RD$5,475,00056.15588DETACHD

PENDING Oct 3-9, 2022

AddressList PriceBedsBathsSFProp Type
201 CERVANTES$325,00021.11247CONDO
1988 BONNIEBRAE DR$469,000321499ATTACHD
4226 WOODSIDE CIR$537,500321578ATTACHD
625 3RD ST$1,050,00032.12645ATTACHD
1685 FERNWOOD DR$1,325,000532592DETACHD
853 E AVE$1,850,00033.12839DETACHD
4241 COBB WAY$1,949,00043.13292DETACHD
17663 HILL WAY$1,999,000433375DETACHD
16885 FERNWOOD DR$2,149,00043.13753DETACHD
2320 GLEN HAVEN RD$2,385,000443875DETACHD
915 OAK TER$2,435,000443816DETACHD
3331 FIR RIDGE RD$2,499,000443771DETACHD
1012 LAKE FRONT RD$3,899,00044.14735DETACHD
1776 SKYLAND DR$4,975,00044.15034DETACHD
1455 CHANDLER RD$5,475,00056.15588DETACHD

SOLD Oct 3-9, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
1 ORIOLE LN$625,000$565,00032.12317DETACHD101
1695 HALLINAN ST$729,000$650,000432763DETACHD11
18040 BELMORE AVE$749,900$695,000322077DETACHD37
15443 SW MEADOWLARK CT$824,900$709,500321895DETACHD17
2190 FERNWOOD CIR$735,000$710,000532507DETACHD15
67 TANGLEWOOD DR$839,900$764,00042.13149DETACHD56
17377 MARJORIE AVE$995,000$870,000432651DETACHD20
18100 BRYANT RD$990,000$890,00031.11425DETACHD13
18010 GIMLEY CT$1,200,000$1,090,00053.13652DETACHD53
17244 FERNWOOD DR$1,150,000$1,115,00042.12617DETACHD23
2777 GLEN HAVEN RD$1,200,000$1,127,50032.12560DETACHD102
5786 WASHINGTON CT$1,199,000$1,209,000433186DETACHD6
2211 FERNWOOD CIR$1,595,000$1,540,000533431DETACHD17
18735 BRYANT RD$2,695,000$2,300,00043.15544DETACHD118
16511 MAPLE CIR$3,800,000$3,500,00043.13356DETACHD30
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) .

Drug Take Back Event

On October 29th, from 10am to 2pm, you can take unused and not needed medications to Lake Oswego’s drug-take-back event.

Prescription-Pills

This will be a drive thru event held at the Gallagher Building at Mary’s Woods (17550 Provost St, Lake Oswego). People are asked to stay in their vehicles.

Accepted items are prescription and over-the -counter medications. Also accepted are Vape pens and E cigarettes WITHOUT batteries. Unknown medications and veterinary meds are going to be accepted as well.

Not accepted are medications from businesses such as nursing homes. This collection event is for individual households only.

Also not accepted are vaping pens with batteries, EpiPens, intra-venous solutions, injectables, inhalers, syringes, chemotherapy medications, or medical waste. To get rid of these items, call Metro Recycling at 503-234-3000.

If the container contains personal information, please cross it out. Items not in original containers can be put into sealed plastic bags. If the item is liquid or gel, please put it into a sealed plastic bag.

For more information, click here.

I hope you have found this information useful.

Dianne

Market Activity Sept 26-Oct 2, 2022

Our market is moving right along. Last week in Lake Oswego we had 16 properties come onto the market, 3 of which sold the same week and are reflected in this report as pending sales. We had a total of 12 properties move to pending status, and 11 closed sales.

See below for RMLS data.

New on the Market Sept. 26-Oct 2, 2022

AddressTypePriceBedroomsBathsSq Feet
86 Cervantes Cir 10-BCondo$240,00021.5+.5912
6 Cervantes CirCondo$255,00021.5912
3433 McNary Pkwy #806Condo$324,90022.51136
16 Summit Ridge CtCondo$485,00022.51576
5270 Chinook CtDetached$495,000321391
18150 Bryant CtDetached$750,000321468
2845 Vale CtDetached$900,000433157
4704 Cambridge CtAttached$985,00032.52856
939 Sunny Hill DrDetached$1,155,00042.53250
515 Laurel StDetached$1,725,00043.53382
13624 Goodall RdDetached$2,290,00044.5+.54411
17435 Wren CtDetached$3,995,00044.54134
13751 Cameo CtDetached$4,249,00054.5+.54409

Pending Sales Sept 26-Oct 2, 2022

AddressTypePriceBedroomsBathsSq. FeetDOM
246 Ridgeway Rd 17BCondo$344,000117536
6261 Dawn StDetached$535,0003212963
4724 Lamont CtDetached$649,0003216986
27 Partridge LnDetached$699,00032231715
4730 Firwood RdDetached$785,0004219443
42 Aquinas StDetached$799,90042.52486101
16018 Waluga DrDetached$995,000421962134
17423 Schalit WayDetached$998,90042.524424
17291 Cedar RdDetached$1,135,00054.5287242
3763 Tempest DrDetached$1,350,00052.5289573
732 Lake Forest DrDetached$1,500,0003228653
842 6th StDetached$1,850,00043.538405

Sold/Closed Sept 26-Oct 2, 2022

AddressTypeList PriceSold PriceSq FeetCDOM
900 Cornell StDetached$495,000$560,00013004
5850 Kenny StDetached$589,000$575,00011726
1272 Hide A Way CtDetached$549,000$605,00018163
136 Touchstone TerDetached$630,000$630,00019964
14402 Sherbrook PlDetached$649,999$655,00019767
939 Devon LnDetached$815,000$720,000224980
17095 Rebecca LnDetached$925,000$920,00023797
2775 Vale CtDetached$1,100,000$949,950280597
5490 Royal Oaks DrDetached$967,500$967,50017687
890 C AveDetached$1,275,000$1,175,000259611
961 Lake Front RdDetached$4,895,000$4,750,000499859

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.

Market Activity ~ Sept 19-25, 2022

Last week we saw 9 properties enter the market, 13 move to Pending status and 5 Sold/Closed. Right now there are 130 properties ranging from $240,000 to $11.5 mil available in Lake Oswego.

Here is the latest according to RMLS:

NEW Sept 19-25, 2022

AddressList PriceBedsBathsSFProp Type
45 EAGLE CREST DR #208$249,900221046CONDO
246 RIDGEWAY RD #17B$344,00011753CONDO
11 SUMMIT RIDGE CT$475,00022.11576ATTACHD
1172 BOCA RATAN DR$580,000321611ATTACHD
4724 LAMONT CT$649,000321698DETACHD
72 TOUCHSTONE$929,900433908DETACHD
4744 CAMBRIDGE CT$985,00032.12856ATTACHD
17423 SCHALIT WAY$998,90042.12442DETACHD
842 6TH ST$1,850,00043.13840DETACHD

PENDING Sept 19-25, 2022

AddressList PriceBedsBathsSFProp TypeDays
900 CORNELL ST$495,00031.11300DETACHD4
256 CERVANTES$539,90022.11984ATTACHD158
918 LAKE FRONT RD$650,00021921DETACHD11
5429 KENNY ST$695,000321584DETACHD61
1695 HALLINAN ST$699,900432763DETACHD96
15443 SW MEADOWLARK CT$749,999321895DETACHD17
2711 Greentree RD$919,900433241DETACHD59
4744 CAMBRIDGE CT$985,00032.12856ATTACHD2
18010 GIMLEY CT$1,090,00053.13652DETACHD53
13615 WESTLAKE DR$1,550,00044.14396DETACHD85
2485 GREENTREE RD$2,350,000443853DETACHD21
18735 BRYANT RD$2,495,00043.15544DETACHD118
1287 CHERRY LN$2,999,90054.15312DETACHD4

SOLD Sept 19-25, 2022

AddressOpeningClosedBedsBathsSFProp TypeDays
360 CERVANTES CIR$240,000$240,00021832CONDO19
1000 BICKNER ST$635,000$635,00032.11988DETACHD2
1620 ASPEN ST$785,000$825,000432284DETACHD7
12886 SIERRA CT$1,085,000$1,125,000433188DETACHD3
542 4TH ST$1,549,000$1,525,00044.23376ATTACHD3
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) .

Open House Sat & Sun, Oct 1 & 2, noon-3:00

I am thrilled to introduce you to my new listing at 4704 Cambridge Ct in the West Lake neighborhood of Lake Oswego.

With the primary bedroom on the main level, it is a wonderful floorplan with a huge kitchen that is open to the family room. The Southern side consists of walls of windows that allow you to enjoy expansive Southern views of the greenspace behind and also across the West Lake neighborhood.

There are 3 large bedrooms plus a bonus room. In addition to the great room, there is a formal living room and formal dining. The primary suite has a fireplace and a huge bathroom with double sinks, a jetted tub, and a custom walk-in shower. There is also a huge walk-in closet.

As part of the Devonshire Home Owner’s Association, the exterior maintenance and landscaping is maintained by the HOA for easy-care living.

Priced at $985,000, it is an opportunity to own a newer home in Lake Oswego with a primary bedroom on the main.

I will be holding it open this Saturday and Sunday from noon to 3pm. Please park on Peter’s Rd.

I’m looking forward to seeing you!

Dianne

The Power of 20

Years ago, I realized that the number 20 is very powerful in real estate. It applies both when buying and when selling.

When Buying

I think most people do the bulk of their house hunting online. The Internet is an amazing tool. However, it is also super important to physically visit houses. I think you need to go into them to get a feeling for value. What does $500,000 look like? By the time that you have gone through 20 houses you will have a strong sense of value. You’ll know what feels like a good deal and what feels like it is overpriced.

This does not mean that you absolutely have to see exactly 20 houses. No. In fact, the first house that my husband and I bought was the first house that we looked at. We walked in, fell in love, and made an offer.

20 is simply a good guide and a way to set some expectations for the experience of house hunting.

When Selling

When selling, you need about 20 showings to get an offer. Again, it can happen faster than that, but 20 is a good barometer.

So, if you put your house on the market and you get 20 showings in the first few days, you are going to get an offer quickly.

If the reverse happens and you get 2 showings the first week, and then 2 the next, this means you’re going to be on the market for about 10 weeks to get an offer. If you need an offer more quickly, then you need to drop the price or fix what people are objecting to.

If you get 20 showings and no offer happens, again, you need to drop the price or fix what people are objecting to.

I hope you find this concept useful. As always, thanks for reading the blotter.

Dianne

Market Activity Sept 12-18, 2022

Last week in Lake Oswego there were 14 new listings, 4 of which sold quickly and are represented in this report as pending sales. There were 24 properties that moved to pending status and 14 sold/closed homes.

See below for RMLS details.

New on the Market Sept 12-18, 2022

AddressTypePriceBedroomsBathsSquare Feet
900 Cornell StDetached$495,00031.51300
103 Kingsgate RdDetached$625,00032.51352
27 Partridge LnDetached$699,000322317
918 Lake Front RdDetached$700,00021921
4793 Auburn LnAttached$750,00032.52083
17944 Tualata AveDetached$995,000432325
19125 Olson AveDetached$1,125,00042.53828
1 Juarez StDetached$1,245,00032.53388
17228 Blue Heron RdDetached$1,829,00042.5+.54236
13800 Goodall Rd Lot 1Detached$4,350,00056.15642
13770 Goodall Rd Lot 2Detached$4,395,00054.15933

Pending Sept 12-18, 2022

AddressTypePriceBedroomsBathsSquare FeetDOM
4 Touchstone #95Condo$219,900229848
4 Touchstone #77Condo$240,00032.5135151
4463 Thunder Vista LnCondo$438,00022.517412
113 Touchstone TerrAttached$510,00032.521043
1272 Hide A Way CtDetached$549,0004218163
15450 Stephanie CtAttached$565,00032.5166266
5850 Kenny StDetached$589,0002211726
66 Weatherstone #35Condo$599,90043.5246520
8 Mountain CircleAttached$629,0003213165
1130 Hallinan CtDetached$650,0003214634
18040 Belmore AveDetached$674,90032207737
32 Independence AveDetached$740,00043.134205
18 Partridge LnDetached$780,00043314517
2050 Southshore BlvdDetached$780,00032.5162910
67 Tanglewood DrDetached$799,90042.5314956
490 Boca Ratan DrDetached$824,90032210863
18591 Waxwing WayDetached$875,00032.5214532
2050 Wembley Park RdDetached$1,099,5004218685
19125 Olson AveDetached$1,125,0004238283
2777 Glen Haven RdDetached$1,159,00032.52560102
13504 Streamside DrDetached$1,279,00042.5348631
1625 Cloverleaf RdDetached$2,375,00044385331
864 6th StDetached$2,998,00054.55266124
16561 Maple CircleDetached$3,800,00043.5335630

Sold/Closed Sept. 12-18, 2022

AddressTypeList PriceSold PriceSquare FeetDOM
45 Oswego SummitCondo$240,000$245,0007644
168 Oswego SummitCondo$330,000$315,000138329
4300 Botticelli StAttached$399,900$374,900172142
200 Burnham Rd #103Condo$419,500$419,00076516
4 WeatherstoneDetached$535,000$480,000169241
4266 Woodside CircleDetached$549,900$502,00019448
18690 Wood Duck WayDetached$775,000$775,00018950
5272 Tree StDetached$799,900$810,00019484
5557 Langford LnDetached$839,000$844,500153915
1202 Spruce StDetached$850,000$850,00017063
63 TouchstoneDetached$925,000$885,000308821
1571 HIghland DrDetached$989,000$980,00030003
2600 Dellwood DrDetached$1,600,000$1,525,0003690314
17226 Chapin jWayDetached$2,600,000$2,750,00049301

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.