We hope you all are looking forward to new and exciting adventures in 2021! Dianne and I will be here bringing you the lay of the land in Lake Oswego each week with current market stats, real estate insights, marketing tips, community information & more. The horizon is looking good according to all the forecasters, and of course we’re all looking forward to upcoming immunization assistance in all of our communities. Rates are expected to rise a bit, and we’re all expecting Inventory, which is at an all-time low, to rise.
Dianne and I wish you the very best this year and extend our reminder that we’re always at the other end of a phone call or email. Always here for you!
Dianne and I hope this finds you well and happy, and that you and yours have been able to enjoy some cozy holiday time.
Now we’re moving into 2021. Our report this week is covering the 3-week period during the holidays. Only 3 properties braved entering the market during that time, and/but 32 properties moved into Pending status, and a whopping 48 Sold/Closed.
There is a brand new program happening in Lake Oswego. It’s been organized by 7 volunteers at the Lake Oswego Adult Community Center. This program connects senior citizens with volunteers who make a weekly phone call to them to just have a nice, neighborly visit.
Paricularly in the time of Covid, people are feeling alone in their homes. Getting that phone call once a week can really brighten up a person’s life. I think the idea is just brilliant.
“We just chat about local stuff and stay connected to what’s going on in this beautiful city of ours” says coordinator Ross Fearey.
Referrals for potential recipiants to date have come from the Adult Community Center and also from Tony Sparling, the adult resources officer with the Lake Oswego Police Department.
If you or someone you know would benefit from participating in this program, call 503-636-5040 to make arrangements to receive regular calls.
Last week in Lake Oswego sales remainded strong. 24 houses received offers that were accepted and 18 properties sold with finalized sales. New inventory remained low at just 6 new listings.
See below for RMLS details
New on the Market Dec 7-13, 2020
Address
Type
Price
BR
Baths
Sq Ft
47 Eagle Crest Dr #50
Condo
$210,000
2
1
932
18964 Redwing Way
Detached
$549,950
3
1.5
1406
6126 Frost Ln
Detached
$765,000
5
3
2497
252 Greenwood Rd
Detached
$824,900
5
2
3834
5513 Rachel Ln
Detached
$1,049,000
4
2.5
3335
701 4th St
Detached
$1,499,000
3
2.5
2885
Pending Sales Dec 7-13, 2020
Address
Type
Price
BR
Baths
Sq Ft
CDOM
30 Oswego Summit
Condo
$198,500
1
1
700
78
750 1st St #26
Condo
$350,000
2
2
1350
20
16191 Lake Forest Blvd
Detached
$424,999
3
1
864
4
16342 Kimball St
Detached
$495,000
3
1.5
1250
6
1225 Lee St
Detached
$511,000
3
1.5
1056
1
14150 Goodall Rd
Detached
$525,000
3
2
1745
3
1101 Hemlock SSt
Detached
$574,900
3
2.5
2213
26
4380 Douglas Way
Detached
$599,950
3
2
1364
19
18861 Indian Springs Circle
Detached
$635,000
3
2
1649
2
15677 Fieldstone Dr
Detached
$688,000
3
2.5
2527
156
4984 Bilford Ln
Detached
$725,000
3
2.5
2629
35
2679 Glen Eagles Rd
Detached
$729,900
3
3
2378
6
1771 Campus Way
Detached
$738,000
3
3
3277
3
2765 Glen Haven Rd
Detached
$749,900
4
2.5
2277
5
6123 Frost Ln
Detached
$759,900
4
2.5
2331
21
803 Clara Ct
Detached
$850,000
4
3
2886
3
17970 Meadowlark Ln
Detached
$899,000
4
3
3640
1
18064 Jenifers Way
Detached
$899,900
5
3
2965
44
17596 Green Bluff Dr
Detached
$959,900
4
2.5
3039
26
5055 Lakeview Blvd
Detached
$1,298,000
4
3.5
3607
28
961 Terrace Dr
Detached
$2,495,000
5
4.5+.5
6016
96
1287 Cherry Ln
Detached
$2,595,000
5
4.5
5212
110
2950 Lakeview Blvd
Detached
$2,750,000
4
3.5
4299
190
16649 Maple Circle
Detached
$2,969,000
4
3
2714
113
Closed/Sold Dec 7-13, 2020
Address
Type
List Price
Sold Price
Sq Ft
CDOM
48 Eagle Crest 5E
Condo
$269,000
$249,000
1442
103
16250 Pacific Hwy #77
Condo
$289,900
$259,000
1,327
257
3433 McNary Pkwy #804
Condo
$269,900
$260,000
1136
103
65 Oswego Summit
Condo
$274,900
$260,000
1140
4
4107 Jefferson Pkwy
Condo
$329,000
$325,000
1507
32
5626 Fernbrook Way
Detached
$511,000
$489,000
1250
59
17020 Denny Ct
Detached
$650,000
$525,000
1704
150
17297 Bryant Rd
Detached
$575,000
$550,000
1428
11
13 Walking Woods Dr
Detached
$515,000
$556,000
2130
4
17879 Hillside Dr
Detached
$849,999
$630,000
3149
271
18225 SW 65th Ave
Detached
$799,000
$747,000
2210
37
3125 Alber Sring Ct
Detached
$1,198,000
$1,065
4308
195
16291 Bonaire Ave
Detached
$1,096,660
$1,096
3240
0
6441 Mission Ct
Detached
$1,165,000
$1,165
3201
24
3920 Upper Dr
Detached
$1,595,000
$1,425
3800
$115
15532 Village Dr
Detached
$1,599,000
$1,545
3446
47
4165 Childs Rd
Detached
$1,549,000
$1,549
3310
11
15607 Village Dr
Detached
$2,589,000
$2,200
5407
525
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 look at the most recent data for the entire Portland area (Nov2020) and how Lake Oswego fits in to this picture just below.
Overview/Fluctuations ~ Market Data Nov 2020:
Inventory is now at 1.0 months of supply here, locally. The lowest it’s ever been. All forecasts are for continued increases in home sales and prices, though more modestly than 2020. Prediction #’s vary among economists. National Association of Realtors (NAR) is predicting a 7.3% increase in sales nationally in 2021. Interest rates are still hovering around 2.875% but are expected to rise, albeit not dramatically. One very interesting item I noted from the NAR information is that nationally, 1 in 6 home purchases is now “multi-generational”. So, how we live is changing in many ways: People are looking for more space to work from home, and generations are moving in together. There is generally more up-sizing than down-sizing going on.
According to the RMLS Market Action Report for the Portland Metro Area, Nov. 2020:
There were 2,238 New Listings in Nov 2020increased 5.7% from Nov of 2019’s 2,118, and decreased a whopping 36.3% from the previous month/Oct’s 3,515.
At 2,745, Nov 2020’s Closed Sales are up 12.4% from Nov 2019’s 2,191, and decreased 13.0% from the previous month/Oct 2020’s total of 3,155
At 2,557, Nov 2020’s Pending Sales are up 12.4% from Nov 2019’s 2,274, and dropped 20.1% from the previous month/Oct 2020’s total of 3,199.
The Average Sale Price in Nov 2020 of $521,200 is up $58,600 from last year/Nov 2019’s $462,600, and is up $4,700 from the previous month/Oct 2020’s $516,500. YTD increase is 7.1%.
The “Median” Sale Price (the price smack dab in the middle of all sales) in Nov 2020 of $457,000 rose from last year/Nov2019’s $415,000 by $42,000, and decreased $3,000 from the previous month/Oct 2020’s $460,000. YTD increase is 6.8%.
Neighborhoods: November’s Average Sale Price + 12-month Appreciation:
North Portland: $480,600 6.2% (Oct $450,300) YTD Median: $431,000
NE Portland: $508,700 5.0% (Oct $531,200) YTD Median: $455,000
SE Portland: $478,200 8.1% (Oct $477,300) YTD Median: $409,000
The combined areas of Lake Oswego and West Linn for the month of November 2020 reported:
177 Active Listings (Oct 213)
104 New Listings (Oct 197)
106 Pending Sales (Oct 193)
166 Closed Sales (Oct 173)
Average Sale Price for Nov: $822,000 (Oct $756,600)
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.
This last week in Lake Oswego continues the trend we’ve been seeing of fewer homes being Listed (5) and more going Pending (17) & Sold (35). There are currently 106 homes available in Lake Oswego.
Winter in general can be a challenging time. Daylight is short and the temperature outside is COLD. For those in need, it’s got to be the very difficult. In Lake Oswego there are several ways that you can help.
Shop with a Cop
Shop with a cop pairs police officers with children. They go shopping together for items that the child needs. This year, because of Covid, volunteers are doing the shopping and police officers will deliver the purchased items to children’s homes. You can make a donation at www.ccpobf.org/about/make-a-donation.html. This event ends on December 12th.
Personal Care Items
Personal hygene items such as toothpaste, toothbrushes, sun screen, disposable razors, diapers, deodorant, and shampoo can be dropped off at a donation barrel at City Hall, 380 A Avenue, South entrance vestibule. Donations can be dropped off at any time. New, unused items, please.
Hunger Fighters Oregon
A record number of people in Lake Oswego are in need of emergency food. Non-parishable food items can be donated at City Hall, 380 A Avenue. Donation barrels are located in the North vestibule fronting A Avenue or directly with Hunger Fighters, 2301 Hazel Rd, Lake Oswego. You can learn more by visiting www.hungerfightersoregon.org
School Supply Drive
The Rotary club of Lake Oswego is collecting school supplies in conjunction with the Lake Oswego School Foundation and district counselors. Back packs have already been generously donated and now is the time to fill them up! The Rotary is looking for monetary donations. Money will be used to purchase basic school supplies and also to fund the gift card program that Rotary administers year around. You can make a donation at https://bit.ly/2IMnPeA or you can mail a donation to Rotary Club of Lake Oswego-School Supply Drive, P.O. Box 94, Lake Oswego, OR 97034.
Toy Drive
The Lake Oswego Fire Department and Library are accepting new, unwrapped toys to give to children. Toys will be distributed by the Tualatin Valley Elks Lodge. The toy drive ends December 11th. Until then toys can be dropped off at the the Lake Oswego Fire Department’s main station, 300 B Avenue, Lake Oswego or at the Library, 706 Fouth Street.
Here at the blotter we usually do the market activity report one week at a time, but with the holiday last week, we have combined two weeks. As you can see, not many houses came onto the market, just 12. However, the pending sales and closed sales remained strong. There were 34 properties that went into pending status and 35 closed sales. At this time of year, people making moves are highly motivated to get into the new house before Christmas.
See below for details
New on the Market November 16-29, 2020
Address
Type
Price
BR
Baths
Sq Ft
44 Eagle Crest #17
Condo
$199,900
1
1
798
668 McVey Ave #44
Condo
$229,000
1
1
636
4 Touchstone #85
Condo
$240,000
3
2.5
1351
4606 Lower Dr
Condo
$260,000
2
1.1
1170
750 1st St #26
Condo
$360,010
2
2
1350
4515 Oakridge Rd
Attached
$685,000
3
2.5
1981
314 2nd St
Condo
$740,000
3
3.5
1815
6123 Frost Ln
Detached
$789,900
4
2.5
2331
4361 Southshore Blvd
Detached
$875,000
4
3
2441
978 10th St
Detached
$1,495
3
3
2578
4165 Childs Rd
Detached
$1,549,900
3
2.5
3310
1199 Sunningdale Ct
Detached
$2,250,000
4
4.5
4319
Pending Sales November 16-29, 2020
Address
Type
Price
BR
Baths
Sq Ft
CDOM
280 Cervantes
Condo
$256,900
2
2
1050
35
16250 Pacific Hwy #77
Condo
$259,000
2
2
1327
79
45 Eagle Crest Dr #100
Condo
$285,000
3
2
1537
18
750 1st St E34
Condo
$309,900
2
2
1350
114
2061 Bonniebrae Dr
Attached
$405,000
3
2.5
1687
5
71 Condolea Way
Condo
$425,000
3
3
2131
88
5309 Lakeview Blvd
Detached
$474,950
2
1
1320
158
5136 Jean Rd
Detached
$495,000
3
2
1412
44
16242 Inverurie Rd
Detached
$519,000
3
2
1657
3
17297 Bryant Rd
Detached
$550,000
3
2
1428
3
69 Condolea Terrace
Condo
$555,000
2
2.5
2262
15
1540 Meadowlark Ln
Detached
$649,000
5
3
2727
5
17879 Hillside Dr
Detached
$699,900
3
3
3149
271
18863 Indian Springs Rd
Detached
$699,900
4
3
2001
2
9 Spinosa
Detached
$725,000
2
2.5
2250
22
1702 Highland Dr
Detached
$749,000
3
2.5
2175
32
2395 Greentree Rd
Detached
$749,900
5
2.5
2777
15
19 Westridge Dr
Detached
$749,900
4
2.5
3711
28
1604 Country Club Rd
Detached
$800,000
4
3.5
3878
34
5185 Woodcrest Ln
Detached
$835,000
3
2.5
2554
33
5239 Madrona St
Detached
$885,000
3
3
2881
4
14218 Kimberly Circle
Detached
$899,500
4
2.5
3272
22
2349 Oakhurst Ln
Detached
$935,000
4
2.5
3548
8
2934 Toklien Ln
Detached
$874,800
5
3.5
3851
11
3000 Brookside Rd
Detached
$999,950
3
2.5
1600
50
6155 McEwan Rd
Detached
$1,165,000
5
3
3728
36
6441 Mission Ct
Detached
$1,165,000
4
3
3201
24
13768 Knaus Rd
Detached
$1,180,000
3
2
2480
4
859 F Ave
Detached
$1,379,000
3
2.5
3210
5
14005 Goodall Rd
Detached
$1,595,000
4
3.5
4809
207
527 Northshore Rd
Detached
$1,800,000
3
2
2433
20
13615 Knaus Rd
Detached
$1,895,000
4
3.5
4294
56
1540 Worthington St
Detached
$589,900
5
2
1872
4
5204 Rosewood St
Detached
$599,000
3
2.5
1683
3
Closed Sales November 16-29, 2020
Address
Type
List Price
Sold Price
Sq Ft
CDOM
668 McVey Ave #40
Condo
$249,900
$225,000
636
21
86 Kingsgate Rd E #101
Condo
$274,900
$260,000
953
14
668 MdVey Ave #42
Condo
$257,900
$261,000
852
3
668 McVey Ave #65
Condo
$315,000
$307,000
636
38
5225 Jean Rd #511
Condo
$369,900
$381,000
1400
3
206 Greenridge Dr
Attached
$475,000
$502,500
1392
4
98 Kingsgate Rd
Detached
$510,000
$505,000
1727
2
1225 Hallinan St
Detached
$584,900
$550,000
1819
5
127 Greenwood Rd
Detached
$550,000
$556,000
1201
13
2631 Orchard Hill Pl
Detached
$619,900
$599,900
2447
33
14863 Twin Fir Ct
Detached
$630,000
$600,000
1648
77
715 Hemlock St
Detached
$539,900
$635,000
1312
3
17226 Tualatin St
Detached
$695,000
$679,000
1942
4
29 Churchill Downs
Detached
$700,000
$690,000
2019
12
1725 Fernwood Dr
Detached
$699,000
$699,000
1580
6
17061 Crestview Dr
Detached
$649,900
$705,000
2216
3
12436 Orchard Hill Rd
Detached
$725,000
$710,000
2891
8
5124 Rosewood St
Detached
$739,900
$729,000
3516
92
4102 Buck Brush Ln
Detached
$697,000
$729,000
2205
3
7 Falstaff St
Detached
$729,000
$731,250
2484
1
4388 Snowbrush Ct
Detached
$825,000
$775,000
3928
230
2290 Overlook Dr
Detached
$725,000
$776,000
3095
3
2585 Dellwood Dr
Detached
$949,900
$875,000
3749
78
17421 Brookhurst Dr
Detached
$899,900
$895,000
3756
12
18140 Pioneer Ct
Detached
$964,900
$965,000
2524
2
1507 Cedar St
Detached
$1,099
$1,100,000
2505
67
6463 Mission Ct
Detached
$1,165
$1,165,000
3547
290
2250 Southshore Blvd
Detached
$1,299
$1,185,000
4432
229
1989 Egan Way
Detached
$1,384
$1,399,000
4073
11
827 8th St
Detached
$1,425
$1,399,000
3852
103
800 Terrace Dr
Detached
$1,559
$1,555,000
5359
160
4223 Upper Dr
Detached
$1,650
$1,699,000
3902
430
16793 Graef Circle
Detached
$2,695
$1,900,000
4220
116
17787 Cardinal Dr
Detached
$2,199
$1,950,000
3270
62
19025 Hill Top Rd
Detached
$2,349
$2,100,000
5366
755
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.
Linda and I want to wish you and yours a very Happy Thanksgiving. Even in these challenging times we have so much to be thankful for. We live in a great country that provides us with opportunities. We live in a great community that appreciates diversity and values all lives. We enjoy our family and friends, and even though we can not be close to them this year, we hold them close in our hearts.
Thanksgiving message with pumpkins on a blue background
Linda and I are giving thanks for you, our readers. We appreciate that you take the time to read the blotter and that you are as eager to learn about real estate as Linda and I are eager to share.
There will not be a market activity report this week. Next week’s report will combine two weeks: last week and this.
