Tag: Lake Oswego Oregon

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Market Activity ~ Aug 31 – Sept 6, 2020

Last week in Lake Oswego there were 14 New listings, 33 properties that went into Pending status, and 29 Closed sales.  There are currently 190 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 31-Sept 6, 2020)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWY #5 $169,000 1 1 617 CONDO
92 CERVANTES CIR $205,000 2 1.1 912 CONDO
3872 BOTTICELLI ST $289,900 3 2 1171 CONDO
4107 JEFFERSON PKWY $329,000 2 2.1 1507 CONDO
4347 SILVER CT $455,000 3 2.1 1844 CONDO
2631 SW ORCHARD HILL PL $619,900 4 2.1 2447 DETACHD
18857 INDIAN SPRINGS CIR $839,900 4 3 2572 DETACHD
5228 LOWER DR $850,000 3 2.1 2723 DETACHD
4850 LOWER DR $869,900 4 3 2700 DETACHD
2591 PALISADES CREST DR $1,219,000 3 2.1 4916 DETACHD
13744 KNAUS RD $1,450,000 4 3.1 3667 DETACHD
13594 GOODALL RD $1,669,000 4 4.1 3732 DETACHD
14500 UPLANDS DR $2,599,000 5 4.2 5544 DETACHD
1101 CRESTLINE CT $3,695,000 4 4.3 7226 DETACHD

Pending Sales (Aug 31-Sept 6, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
217 CERVANTES $250,000 2 1.1 1204 CONDO 12
4000 Carman DR, A-16 $257,000 2 2 1025 CONDO 37
3864 BOTTICELLI ST $257,500 2 1.1 1132 CONDO 28
16200 S Pacific HWY #23 $319,000 2 2 1208 CONDO 64
30 WHEATHERSTONE $415,000 3 2.1 1692 CONDO 1
25 AQUINAS ST $445,000 3 2 1477 DETACHD 18
6136 FERNBROOK CIR $449,900 3 1 1250 DETACHD 5
18508 BENFIELD AVE $479,900 4 2 1521 DETACHD 5
19175 SW PILKINGTON RD $599,900 3 1.1 1820 DETACHD 5
17950 MEADOWLARK LN $649,000 5 3 2710 DETACHD 32
639 2ND ST $649,900 2 2.1 1457 ATTACHD 25
620 TIPPECANOE CT $649,900 3 2 1718 DETACHD 9
6550 CHILDS RD $650,000 4 3 1864 DETACHD 2
17838 LAKE HAVEN DR $839,900 4 3 2214 DETACHD 3
17898 HILLSIDE DR $849,000 4 3 4158 DETACHD 8
1983 RIDGEWOOD RD $898,000 5 4.1 4961 DETACHD 142
5303 AMBERWOOD CT $999,000 3 2.1 3490 DETACHD 18
3343 FIR RIDGE RD $999,850 4 3 3430 DETACHD 23
1149 CHERRY LN $1,050,000 3 2.2 3231 DETACHD 12
4471 West RD, Lot 4 $1,125,000 4 3 3885 DETACHD 10
929 COUNTRY CMNS $1,200,000 4 3 3962 DETACHD 43
2250 SOUTHSHORE BLVD $1,248,000 4 4.1 4432 DETACHD 201
3080 WESTVIEW CIR $1,299,000 4 3 3473 DETACHD 38
16850 CORTEZ CT $1,349,900 4 4 3550 DETACHD 134
210 NORTHSHORE RD $1,398,000 4 3.1 3148 DETACHD 891
1318 HORSESHOE CURV $1,425,000 5 3 3715 DETACHD 3
17010 Canal CIR $1,665,000 4 3.1 3746 DETACHD
4233 UPPER DR $1,665,000 5 3.1 3902 DETACHD 430
936 EVERGREEN RD $1,949,000 4 3.1 3772 DETACHD 297
1217 Lake Front RD $1,995,000 3 2.1 2628 DETACHD 75
17787 CARDINAL DR $2,098,000 4 4 3270 DETACHD 44
16793 GRAEF CIR $2,150,000 4 3.1 4220 DETACHD 116
757 LAKE SHORE RD $3,089,000 4 3.1 4098 DETACHD 72

Sold/Closed (Aug 31-Sept 6, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #9 $194,900 $194,900 2 1 908 CONDO 4
3930 LAKE GROVE AVE #3A $210,800 $200,000 2 1 956 CONDO 183
4000 CARMAN DR, C39 $229,000 $223,500 2 2 866 CONDO 14
47 EAGLE CREST DR $259,500 $236,500 3 2 1026 ATTACHD 64
90 OSWEGO SMT / Upper $239,000 $241,500 2 2 1140 CONDO 2
4621 LAKEVIEW BLVD / Upper $279,999 $276,000 2 2 1178 CONDO 8
4372 WOODSIDE CIR $339,900 $342,000 2 2 1178 ATTACHD 4
12844 BOONES FERRY RD / Grnd $409,900 $398,000 2 2.1 1177 CONDO 21
1224 HEMLOCK ST $400,000 $415,000 2 1 784 DETACHD 3
16215 LAKE FOREST BLVD $425,000 $425,000 3 1 1001 DETACHD 5
19235 REDWING CT $619,900 $581,109 4 2 2084 DETACHD 6
13758 REGENCY CT $649,900 $665,000 3 2.1 1986 DETACHD 2
762 D AVE $640,000 $680,000 2 2 1358 DETACHD 2
5675 VICTORIA CT $800,000 $682,000 3 2.1 2546 DETACHD 92
2811 PARK RD $659,000 $690,000 4 2.1 2248 DETACHD 4
397 LIVINGOOD LN $719,000 $714,000 3 2.1 2631 DETACHD 6
2782 TOLKIEN LN $799,000 $728,812 4 3.1 3207 DETACHD 19
4991 HARTFORD PL $859,950 $830,000 3 3.1 3098 DETACHD 28
802 CLARA CT $849,000 $839,000 4 3 2886 DETACHD 7
32 WILBUR ST $862,500 $862,500 3 2.1 2671 CONDO 1
18283 LOTHLORIEN WAY $889,000 $875,000 4 3 3053 DETACHD 13
18220 RIVER EDGE CT $1,050,000 $938,800 4 3 3432 DETACHD 60
1425 MORNING SKY CT $895,000 $945,000 4 3 3282 DETACHD 2
100 LEONARD ST $1,079,000 $1,015,000 3 2.1 3137 CONDO 21
1300 GLENMORRIE DR $1,050,000 $1,050,000 5 3.1 4613 DETACHD 3
14414 PFEIFER DR $1,199,000 $1,210,000 4 3.1 3744 DETACHD 61
13344 BRIARWOOD LN $1,369,000 $1,315,000 4 3 3413 DETACHD 394
2126 WEMBLEY PL $1,425,000 $1,400,000 4 3.1 3531 DETACHD 42
14722 UPLANDS DR $1,599,000 $1,680,900 4 4.1 3831 DETACHD 3

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.

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LO’s Gallery Without Walls

There are a few things that Lake Oswego is known for: great schools, the amazing hanging flower baskets, and the Gallery Without Walls. These three items, in my opinion, pretty much define this town. Personally, I moved to LO for the schools. I’ve never regretted that decision. The schools are profoundly better than the community I moved away from. So that’s why I moved here. But why did I stay?

My kids are now in their 30’s. I do appreciate the schools, but I stayed because of the town. This town is wonderful. I have been very active in Girl Scouts and various groups like book clubs and the Festival of the Arts. There is true community here. I also stayed because, well, it’s beautiful in LO. Driving about town I just so enjoy the famous hanging flower baskets and the many out door sculptures that make up the Gallery Without Walls. They make me feel optimistic. Art is an important part of my life. I want to see it as much as I can!

The Gallery Without Walls was started 20 years ago. Each winter a committee from the Lake Oswego Arts Council begins the selection process for the years selections. The sculptures are installed in October and remain for two years. So every year half the on loan sculptures are switched out and new installations are installed.

Also each year the citizens of LO vote on the People’s Choice. The winning sculpture is purchased by the Arts Council and installed in a new location as a permanent feature. Over the years the permanent collection has grown to include 50 pieces that are located all over town. Along with the permanent collection and on the on-loan collection, the city now enjoys 90 sculptures. That’s a lot of art to enjoy as you drive to drop your kids off at school or go to get groceries. It makes the day just a little bit sweeter.

Gallery Without Walls is just one more reason that I love living in LO.
Dianne

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Market Activity August 24-30, 2020

Last week in Lake Oswego we had 18 new listings come onto the market, 37 properties that went into pending status, and 26 sold/closed properties. What I find interesting is that of the 26 new listings, 13 sold for over the asking price, and 5 sold for the asking price. It is certainly a seller’s market right now.

New on the Market (August 24-30, 2020)

Address Type Price BR Baths Sq Ft
75 Oswego Summit Condo $178,000 1 1 1058
6136 Fernbrook Circle Detached $449,900 3 1 1250
18508 Benfield Ave Detached $479,900 4 2 1521
5626 Fernbrook Way Detached $511,000 3 1.5 1250
19175 Pilkington Rd Detached $599,900 3 1.5 1820
620 Tippecanoe Ct Detached $649,900 3 2 1718
151 C Ave Attached $795,000 2 2.5 1934
17838 Lake Haven Dr Detached $839,900 4 3 2214
5335 Westfield Ct Detached $889,900 4 2.5 3122
14527 Rainbow Dr Detached $895,000 5 3 3339
17931 Meadowlark Ln Detached $899,900 5 3.5 4385
15550 Quarry Rd Detached $900,000 4 3 2714
1149 Cherry Ln Detached $1,050,000 3 2.5+.5 3231
4471 West Rd Lot 4 Detached $1,125,000 4 3 3885
4140 Melissa Dr Detached $1,149,000 5 5.5 3910
18024 Eastridge Ln Detached $1,289,000 5 3.5 3781
711 7th St Detached $1,829,000 4 2.5+.5 2763
1308 Northshore Rd Detached $3,740,000 4 3.5 4194

Pending Sales (August 24-30, 2020)

Address Type Price BR Baths Sq Ft CDOM
100 Kerr Pkwy #49 Condo $179,999 2 1.5 823 18
104 Oswego Summit Condo $195,000 1 1 943 61
668 McVey Ave #43 Condo $239,000 1 1 636 174
45 Eagle Crest Dr #402 Condo $249,000 1 1 768 7
4642 Lower Dr Condo $275,000 2 1.5 1260 9
205 Oswego Summit Condo $285,000 2 2 1383 8
3844 Botticelli St Condo $310,000 2 1.5 1132 30
37 Greenridge Ct Attached $360,000 2 1.5 1176 52
1764 Conifer Dr Detached $499,900 3 1 1200 7
77 Condolea Way Condo $510,000 3 3 2143 164
5237 Washington Ct Detached $519,900 3 2 1352 7
78 Greenridge Ct Attached $525,000 3 3 2000 37
13 Becket St Detached $550,000 4 3 4064 7
1280 Oak Terrace Detached $579,900 3 2 1685 1
1714 Meadows DR Detached $583,000 3 2 1804 4
12401 Shelby Ct Detached $660,000 3 2.5 2718 1
5834 Seville Ave Detached $665,000 3 2 2056 13
322 2nd St Condo $755,000 3 3.5 1971 6
13885 Provincial Hill Dr Detached $799,500 4 2.5 2870 2
18125 Pilkington Rd Detached $929,000 4 3 3229 81
47 Hillshire Dr Detached $1,085,000 4 2.5 3324 6
17281 Lowenberg Terr Detached $1,099,900 4 3.5 3792 24
27 Berwick Rd Detached $1,100,000 5 3 2968 4
6040 Lakeview Blvd Detached $1,125,000 5 3 3701 42
18124 Pioneer Ct Detached $1,197,000 4 2.5 3201 42
3050 Stonebridge Way Detached $1,198,000 3 3.5 2948 4
2085 Ridge Pointe Dr Detached $1,199,000 5 4.5+.5 6575 61
18002 Pilkington Rd Detached $1,225,000 4 3 3634 23
4311 Haven St Detached $1,260,000 4 4 3915 5
16429 Bonaire Detached $1,299,900 4 3.5 2967 30
13592 Goodall Rd Detached $1,345,000 5 3.5 3735 42
17522 Bryant Rd Detached $1,399,000 4 4 3545 14
14110 Goodall Rd Detached $1,475,000 4 3.5 3945 40
16881 Canyon Dr Detached $1,629,900 4 4 3854 4
18320 River Edge Ln Detached $1,790,000 4 5 4608 17
16743 Graef Circle Detached $2,000,000 4 2.5 3772 10
736 Southview Rd Detached $3,098,000 4 3.5+.5 4639 54

Sold/Closed (August 24-30, 2020)

Address Type List Price Sold Price Sq Ft CDOM
6 Wheatherstone #3 Condo $404,000 $405,000 1692 11
5881 Fernbrook Circle Detached $419,000 $430,000 1,416 2
16518 Inverurie Rd Detached $425,000 $477,000 1233 3
26 Briarwood Rd Detached $495,000 $495,000 2554 4
6430 McEwan Rd Detached $549,000 $525,500 1595 108
5711 McEwan Rd Detached $529,950 $529,950 1467 6
18554 Hallberg Ct Detached $524,900 $530,000 1202 2
29 Da Vinci St Detached $519,000 $550,000 2632 5
1276 Hide A Way Ct Detached $510,000 $568,500 1603 3
6352 Dawn St Detached $584,900 $590,000 1709 5
1601 Ash St Detached $629,999 $596,000 2045 57
17207 Rebecca Ln Detached $599,000 $618,000 1944 6
4890 Indian Creek Ct Detached $699,000 $675,000 2064 15
16969 Alder Circle Detached $729,000 $699,000 1676 18
14074 Sundeleaf Dr Detached $685,000 $700,000 1760 $5
521 2nd St #104 Condo $700,000 $700,000 1339 4
14655 Uplands Dr Detached $899,000 $730,000 2462 126
13005 Sierra Vista Dr Detached $819,900 $795,000 3448 3
5734 Charles Circle Detached $785,000 $806,000 2663 2
12821 Sierra Vista Dr Detached $819,500 $819,500 3352 5
2944 Vale Ct Detached $984,000 $950,000 3414 81
1061 Chandler Rd Detached $990,000 $990,000 2879 139
15628 Quarry Rd Detached $1,249,000 $1,305,898 3074 0
792 5th St Detached $1,499,999 $1,480,000 4379 33
3244 Upper Dr Detached $1,595,000 $1,575,000 3730 11
1575 Country Commons Detached $1,949,950 $2,050,000 3951 817

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.

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What’s in the Blotter?

Linda and I have been writing this blog for a very long time. I would say at least 10 years. When we started this blog we wanted to name it after something uniquely associated with Lake Oswego. We chose The Property Blotter, which was a reference to the column in the local newspaper, The Lake Oswego Review. The column was called the Blotter. It lists every call to the Lake Oswego Police from the previous week. Bear in mind that LO is famous for having low crime, and a very well funded police department. Thus, many of the calls are a source of light humor.

With this in mind, I thought I’d give you a taste of this week’s police blotter, now known as the Police Log:

8/7 1:36 p.m. A resident said she was concerned about her elderly neighbor who had to use a double key deadbolt to get out of the gate to her condo near the 30 block of Condolea Drive. She worried the neighbor wouldn’t be able to get out in an emergency.

8/7 2:37 p.m. A caller said a dog showed up on their porch near the 14000 block of Goodall Road.

8/7 2:55 p.m. Kids were seen boxing near the 15500 block of Waluga Drive.

8/7 4:35 p.m. A man was seen yelling at buildings while walking in a parking lot near the 5000 block of Foothills Road.

8/7 6:26 p.m. A woman wondered if she was allowed to park her boat in her driveway for the winter.

8/7 7:33 p.m. A resident said a man was standing in grass and staring at his house near Overlook Drive and Stafford Road. Apparently this was an ongoing issue, with the man standing there “for hours.” It turned out the man worked for a care facility and he went across the street to smoke away from residents.

8/7 11:57 p.m. A resident said a “fugitive” was in their backyard and under the deck at an undisclosed location. Police found no one under the deck, though they did notice bird seeds on the ground and evidence of rats. Under the deck, a vent leading to a crawl space was missing, and the noise could have been from rats or a raccoon.

8/8 4:06 p.m. A caller said a skunk was dying in his yard and it needed to be put down near the 800 block of Clara Court.

And so goes the high drama of life in LO. We have it pretty good here when we have a police department who will answer the call about a dying skunk. I do love LO.

Enjoy your week.
Dianne

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Market Activity August 17-23, 2020

The real estate market in Lake Oswego continues to be booming. Far more houses are selling than are coming onto the market. It’s a great time to list your house for sale!

Last week in Lake Oswego we had 20 properties come onto the market, 31 move into pending status, and 28 sold/closed homes.

New on the Market (August 17-23, 2020)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #62 Condo $249,000 3 1.5 1026
45 Eagle Crest Dr #402 Condo $249,000 1 1 768
217 Cervantes Condo $250,000 2 1.5 1204
4642 Lower Dr Condo $275,000 2 2 1260
205 Oswego Summit #205 Condo $285,000 2 2 1383
71 Condolea Way Condo $425,000 3 3 2131
6 Britten Ct Attached $425,000 2 2 1317
1402 Parrish St Condo $469,000 3 2.5 1863
1764 Conifer Dr Detached $499,900 3 1 1200
17 Laurel St Detached $675,000 3 1.5 3096
322 2nd St Condo $755,000 3 3.5 1971
13745 Cameo Ct Detached $964,500 4 4 2846
4297 Albert Circle Detached $999,995 3 2.5 2335
47 Hillshire Dr Detached $1,085,000 4 2.5 3324
1816 Palisades Lake Ct Detached $1,200,000 3 2.5 4598
16877 Canyon Dr Detached $1,629,900 4 4 3771
3509 Lanewood St Detached $1,799,900 4 4 3830
16743 Graef Circle Detached $2,000,000 4 2.5 3772
1287 Cherry Ln Detached $2,595,000 5 4.5 5312
16337 Chapin Way Detached $2,599,000 5 4.5 5115

Pending Sales (August 17-23, 2020)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #62 Condo $249,000 3 1.5 1026
45 Eagle Crest Dr #402 Condo $249,000 1 1 768
217 Cervantes Condo $250,000 2 1.5 1204
4642 Lower Dr Condo $275,000 2 1-Jan 1260
205 Oswego Summit #205 Condo $285,000 2 2 1383
71 Condolea Way Condo $425,000 3 3 2131
6 Britten Ct Attached $425,000 2 2 1317
1402 Parrish St Condo $469,000 3 2.5 1863
1764 Conifer Dr Detached $499,900 3 1 1200
17 Laurel St Detached $675,000 3 1.5 3096
322 2nd St Condo $755,000 3 3.5 1971
13745 Cameo Ct Detached $964,500 4 4 2846
4297 Albert Circle Detached $999,995 3 2.5 2335
47 Hillshire Dr Detached $1,085,000 4 2.5 3324
1816 Palisades Lake Ct Detached $1,200,000 3 2.5 4598
16877 Canyon Dr Detached $1,629,900 4 4 3771
3509 Lanewood St Detached $1,799,900 4 4 3830
16743 Graef Circle Detached $2,000,000 4 2.5 3772
1287 Cherry Ln Detached $2,595,000 5 4.5 5312
16337 Chapin Way Detached $2,599,000 5 4.5 5115

Sold/Closed (August 17-23, 2020)

Address Type List Price Sold Price Sq Ft CDOM
7 Crestfield Ct Condo $155,000 $145,000 689 31
59 Oswego Summit Condo $244,900 $230,900 1,140 59
16250 Pacific Hwy #81 Condo $249,000 $231,500 841 43
207 Oswego Summit Condo $289,000 $289,000 1506 20
13 Mountain Circle Attached $375,000 $390,000 1374 4
6301 Alyssa Terr Attached $400,000 $408,000 1546 4
5071 Tualata Ln Detached $449,000 $440,000 1540 45
1400 Parrish St Condo $460,000 $448,000 1863 130
18545 Kristi Way Detached $434,900 $460,000 1307 4
4260 Chapman Way Detached $630,000 $618,777 2301 16
14825 Rainbow Dr Detached $650,000 $636,000 2582 12
205 Hidalgo St Detached $679,900 $679,900 3032 4
4087 Trout Way Detached $659,000 $710,000 2320 4
720 Briercliff Ln Detached $650,000 $720,000 2152 3
17430 Schalit Way Detached $689,900 $725,000 2379 1
14321 Camden Ln Detached $759,900 $750,000 2553 3
18709 Mirkwood Dr Detached $729,000 $770,000 3086 3
3778 Rivers Edge Dr Detached $799,000 $770,000 3012 53
19398 River Run Dr Detached $799,900 $800,000 2790 24
19242 Indian Springs Rd Detached $995,000 $925,000 3365 54
14380 Trillium Ct Detached $1,072,000 $976,000 3962 128
18707 Bryant Rd Detached $995,000 $985,000 2184 0
1658 Village Park Ln Detached $1,258,000 $1,180,000 4634 97
4150 Upper Dr Detached $1,425,000 $1,390,000 3466 14
1103 C Ave Detached $1,639,000 $1,538,000 3530 110
310 Iron Mountain Blvd Detached $2,150,000 $2,025,000 4927 14
3124 Lakeview Blvd Detached $2,950,000 $2,700,000 3825 16
4175 Southshore Blvd Detached $4,999,999 $3,300,000 6332 1133

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.

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The Buzz About Inventory

Real Estate is a complex beast, but some aspects of it are pretty simple- Supply and Demand, for instance.  When there are fewer homes on the market, Sellers are in a better position to bargain as it often means there will be multiple offers coming in. Markets like this wreak havoc with Buyers and Appraisers alike as folks start pushing prices up in order to win a given property in a bidding situation. I tell my clients who are worried about pushing value beyond the status quo with a higher offer that they are actually setting the standard for Appraised Value on homes in their new neighborhood as Appraisers really are just calculating what people are willing to pay/have paid, thus how much homes in any given area are worth. The sale only counts toward that calculation however after it is final. The immediate peril of course is the prospect of a Seller being unwilling to budge if the Appraisal comes in lower than the Sale Price and the Buyer is put in the position of having to decide whether to bring cash to the table.

Pluses & Minuses- As far as impact on the Buyer, the upside is that the above scenario spurred by low inventory positively affects future value/appreciation of their property as well as the aforementioned immediate effect of the Closing Sale Price impacting the neighborhood’s value. These things are almost always assured. On the less positive side, depending on what neighborhood this is occurring in, property values can rise to the degree that a large number of people are just priced out of the picture. This is called gentrification and usually relates to lower-priced areas becoming unrecognizable to those who live there and or would have normally wanted to live there. Obviously this is not the case in Lake Oswego which has historically been a generally higher-priced area on the outskirts of Portland, and/but there are areas of Lake Oswego that are wonderful, AND more affordable for many families that could be impacted as well.

So, that is what low inventory does  to the market. As far as how it is arrived at~ Essentially, the Inventory at any given time is calculated at how many months it will take to sell the existing homes on the market based on the current rate at which homes are selling. I used the formula espoused by Sapling to break out comparative Inventory for Lake Oswego.

If we compare just Lake Oswego and its inventory vs July 2019, it looks like this:

  • July 2019: 451 Active Listings divided by Sold & Pendings at 357 = 1.26 Months of Inventory.
  • July 2020: 311 Active Listings divided by Sold & Pendings at 384 = .809 Months of Inventory.

So, you can see how a large number of Buyers actively looking for houses and a limited number of properties for sale can affect the overall landscape of real estate in a given area. Looks like it might be time to sell if you’ve been on the fence?

 

 

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Market Activity ~ Aug 10-16, 2020

Spring activity has definitely pushed into summer. Last week in Lake Oswego there were 26 New listings, 26 properties that went into Pending status, and 21 Closed sales.  There are currently 214 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 10-16, 2020)

Address List Price # Beds # Baths Total SF Prop Type
126 OSWEGO SMT $195,000 1 1 764 CONDO
4 TOUCHSTONE #82 $260,000 3 2.1 1351 CONDO
25 AQUINAS ST $479,000 3 2 1477 DETACHD
26 Spinosa $495,500 3 2.1 2065 PLNCOMM
2735 GREENTREE RD $579,900 3 2.1 1616 DETACHD
69 CONDOLEA TER $585,000 2 2.1 2262 CONDO
1529 HEMLOCK ST $664,900 4 3 2348 DETACHD
639 2ND ST $665,000 2 2.1 1457 ATTACHD
5834 SEVILLE AVE $679,900 3 2 2056 DETACHD
300 4TH ST $724,900 2 2.1 1731 ATTACHD
16419 LEXINGTON CT $739,000 3 2.1 2409 DETACHD
875 BOCA RATAN DR $749,900 5 3 2502 DETACHD
39 TOUCHSTONE $749,900 4 3 3400 DETACHD
16570 Inverurie RD $829,000 5 4 3218 DETACHD
12730 ADRIAN CT $895,000 4 2.1 2952 DETACHD
19245 MEGLY CT $899,000 5 3 3490 DETACHD
49 HILLSHIRE DR $939,900 4 3.1 4268 DETACHD
15930 TWIN FIR RD $995,000 3 2.1 2620 DETACHD
17215 LOWENBERG TER $995,950 4 2.1 2819 DETACHD
5303 AMBERWOOD CT $999,000 3 2.1 3490 DETACHD
4146 CHAD DR $1,099,900 4 2.1 3637 DETACHD
3343 FIR RIDGE RD $1,100,000 4 3 3430 DETACHD
17522 BRYANT RD $1,399,000 4 4 3545 DETACHD
17677 WESTVIEW DR $1,699,000 5 4.1 5531 DETACHD
18320 RIVER EDGE LN $1,790,000 4 5 4608 DETACHD
2510 WEMBLEY PARK RD $1,895,000 4 3.1 4868 DETACHD

Pending Sales (Aug 10-16, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #15 $160,000 1 1 798 CONDO 23
4 TOUCHSTONE #130 $200,000 2 2 984 CONDO 186
48 EAGLE CREST DR #5E $269,000 2 2 1443 CONDO 29
1224 HEMLOCK ST $400,000 2 1 784 DETACHD 3
1120 BOCA RATAN DR $400,000 3 2 1611 ATTACHD 5
1 PHEASANT RUN $475,000 3 2.1 1780 DETACHD 11
112 TOUCHSTONE TER $520,000 3 2.1 2002 ATTACHD 0
63 AQUINAS ST $539,500 6 3 2892 DETACHD 12
15601 TANAGER DR $619,900 3 2.1 2046 DETACHD 6
5095 OAKRIDGE RD $725,000 4 2 1743 DETACHD 2
4108 ORCHARD WAY $769,000 4 2.1 3010 DETACHD 25
1132 TROON RD $800,000 3 2.1 1585 DETACHD 2
550 MIDDLECREST RD $805,000 2 2.1 2226 DETACHD 4
1953 SUMMIT DR $819,000 4 3 3312 DETACHD 47
2340 OAKHURST LN $849,000 4 2.1 2860 DETACHD 18
17358 BROOKHURST DR $895,000 4 3 3592 DETACHD 2
3903 TEMPEST DR $899,000 4 2.1 2557 DETACHD 4
5224 LOWER DR $925,000 4 3 2571 DETACHD 5
17517 OAK MEADOW LN $949,900 4 2.1 2952 DETACHD 3
18400 DELENKA LN $998,800 5 3.1 5245 DETACHD 27
1471 WOODLAND TER $1,050,000 5 4.1 5733 DETACHD 69
18253 SIENA DR $1,225,000 5 4 4375 DETACHD 63
5337 WASHINGTON CT $1,225,000 4 3 3789 DETACHD 5
14530 UPLANDS DR $1,589,000 5 3.1 4080 DETACHD 174
14722 UPLANDS DR $1,599,000 4 4.1 3831 DETACHD 3
1890 TWIN POINTS RD $2,650,000 4 3.1 4274 DETACHD 335

Sold/Closed (Aug 10-16, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4061 JEFFERSON PKWY $300,000 $281,000 2 2.1 1462 ATTACHD 105
44 AQUINAS ST $550,000 $562,000 4 2 1914 DETACHD 4
13 GROUSE TER $565,000 $574,000 4 2.1 2108 DETACHD 1
6221 NOKOMIS CT $565,000 $585,000 3 2 1870 DETACHD 1
1100 OAK TER $650,000 $610,000 4 2 1518 DETACHD 40
19101 REDWING CT $629,000 $620,000 3 2 1434 DETACHD 5
21 BECKET ST $629,900 $629,000 4 2.1 3070 DETACHD 93
4910 CENTERWOOD ST $650,000 $650,000 4 2.1 2481 DETACHD 0
28 WESTRIDGE DR $724,900 $712,500 4 2.1 2580 DETACHD 25
4004 MELISSA DR $756,000 $740,000 4 2.1 2865 DETACHD 3
1405 CEDAR ST $749,900 $748,930 3 2 2178 DETACHD 4
828 7TH ST $939,000 $785,000 3 4 2418 DETACHD 84
17610 WESTVIEW DR $839,900 $840,000 5 3 2924 DETACHD 2
5996 SUNCREEK DR $995,000 $1,020,000 4 3 3596 DETACHD 2
17690 BLUE HERON RD $1,199,900 $1,150,000 4 3 3869 DETACHD 21
3938 EDENS EDGE DR $1,215,000 $1,184,900 4 3.1 3882 DETACHD 18
714 EVERGREEN RD $1,349,000 $1,282,500 4 3 3464 DETACHD 135
1301 HORSESHOE CURV $1,299,000 $1,350,000 3 2 2260 DETACHD 3
2130 WEMBLEY PL $1,498,000 $1,395,000 4 3.1 3651 DETACHD 442
18218 MEADOWLARK LN $1,599,000 $1,435,000 5 6.1 8320 DETACHD 397
16206 REESE RD $1,625,000 $1,575,000 4 3.1 3631 DETACHD 69

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.

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News & Notes – July 2020 Numbers

Here is your look at the most recent data for the entire Portland area (July 2020) and how Lake Oswego fits in to this picture just below.

The Inventory says it all. Well, not maybe all… Just look at the increases over both last month and last year. Pending Sales are up 21.9% over last year/July, and Closed Sales are up 15% over July 2019 as well. Activity was put off in the Spring and is pushing into Summer.

It is currently understood to be a Seller’s Market. There are a large number of multiple-offer transactions for properties that are priced well. That will change as we head into Fall, where Buyers typically have more leverage. It is often a toss-up as to when you make your move as a Seller or a Buyer. Obviously, its good to be a Seller right now, and/but we don’t know where rates are headed, so I wouldn’t wait if I were a Buyer.  At the moment, my trusted Mortgage Advisors tell me: Rates are inching up now, hovering around 3.125%.

According to the RMLS Market Action Report for the Portland Metro Area, July 2020:

  • There were 4,236  New Listings in July 2020 which increased 6.8%  from July of 2019’s 3,966, and increased 15.8% over the previous month/June’s 3,658.
  • At 3,391, July 2020’s Closed Sales are up at 15.2% from July 2019’s 2,944, and also up by 25.2% from the previous month/June 2020’s total of 2,709
  • At 3,656, July 2020’s Pending Sales are up 21.9% from July 2019’s 2,998, and increased 0.1% (virtually the same) from the previous month/June 2020’s total of 3,654.
  • The Average Sale Price in July 2020 of $502,300 is up $36,300 from last year/July 2019’s $466,000, and is also up $22,600 from the previous month/June 2020’s $479,700.   YTD increase is 3.7%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in July 2020 of $445,000 rose from last year/July 2019’s $411,600 by $33,400, and is up by $10,000 from the previous month/June 2020’s $435,000.   YTD increase is 4.5%.

Neighborhoods: July’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $453,900              4.1%   (June $447,500)
    •                                                     YTD Median: $425,000
  • NE Portland:  $515,100                   2.6%   (June $486,200)
    •                                                     YTD Median: $440,000
  • SE Portland:  $459,500                   3.1%   (June $462,800)
    •                                                     YTD Median: $395,000
  • Gresham/Troutdale:   $393,100     2.0%   (June $383,000)
    •                                                     YTD Median: $364,900
  • Milwaukie/Clackamas:  $487,000  4.0%   (June $479,600 )
    •                                                     YTD Median: $439,900
  • Oregon City/Canby:   $447,300      3.4%   (June $447,300)
    •                                                     YTD Median: $437,000
  • Lake Oswego/West Linn:$830,600  7.1%  (June $721,800)
    •                                                      YTD Median: $620,000
  • West Portland:    $629,500             -0.2%  (June $609,400)
    •                                                     YTD Median: $542,000
  • NW Wash County:  $575,600          2.5%   (June $585,000)
    •                                                      YTD Median: $513,000
  • Beaverton/Aloha:     $416,300       2.6%   (June $417,500)
    •                                                     YTD Median: $410,000
  • Tigard/Wilsonville:   $537,300        4.1%   (June $504,400)
    •                                                      YTD Median: $470,000
  • Hillsboro/Forest Grove: $437,100  5.4%   (June $433,100)
    •                                                      YTD Median: $400,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of July 2020 reported:

    •  311 Active Listings (June 315)
    •  242 New Listings     (June 216)
    •  191 Pending Sales   (June 196)
    •  193 Closed Sales       (June 135)
    • Average Sale Price for July: $830,600  (June $721,800)
      • 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.
    •  62 Average Days on the Market   (June 54)

 

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Market Activity ~ Aug 3-9, 2020

Last week in Lake Oswego there were 16 New listings, 35 properties that went into Pending status, and 15 Closed sales.  There are currently 206 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 3-9, 2020)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR $174,999 2 1 932 CONDO
4000 CARMAN DR #E74 $229,900 2 2 836 CONDO
750 1ST STb #E34 $319,900 2 2 1350 CONDO
1120 BOCA RATAN DR $400,000 3 2 1611 ATTACHD
63 AQUINAS ST $539,500 6 3 2892 DETACHD
71 GREENRIDGE CT $549,000 3 2.1 2004 ATTACHD
17950 MEADOWLARK LN $649,000 5 3 2710 DETACHD
320 4TH ST $649,000 2 2.1 1731 ATTACHD
17088 REBECCA LN $650,000 5 3 2558 DETACHD
19457 35TH CT $959,000 4 2.1 3538 DETACHD
5337 WASHINGTON CT $1,225,000 4 3 3789 DETACHD
18002 PILKINGTON RD $1,225,000 4 3 3634 DETACHD
3931 Bass LN $1,385,000 5 4.1 4248 DETACHD
18147 PILKINGTON RD $1,796,000 4 3.1 4636 DETACHD
1099 TERRACE DR $2,495,000 5 4.1 4965 PLNCOMM
910 NORTHSHORE RD $4,595,000 4 6.1 5455 DETACHD

Pending Sales (Aug 3-9, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 Touchstone #146 $224,900 2 2 979 CONDO 88
47 EAGLE CREST DR $249,500 3 2 1026 ATTACHD 64
3864 BOTTICELLI ST $257,500 2 1.1 1132 CONDO 3
1276 HIDE A WAY CT $510,000 3 2 1603 DETACHD 3
12 WALKING WOODS DR $568,000 3 3 2177 DETACHD 3
17175 REBECCA LN $575,000 4 2.1 1833 DETACHD 2
19235 REDWING CT $599,900 4 2 2084 DETACHD 6
19 MORNINGVIEW CIR $629,000 3 2.1 2337 DETACHD 48
38 NORTHVIEW CT $638,900 4 4 3125 ATTACHD 21
4962 HARVARD CT $649,900 4 2.1 2522 DETACHD 52
14825 RAINBOW DR $650,000 4 3.1 2582 DETACHD 12
2811 PARK RD $659,000 4 2.1 2248 DETACHD 4
1953 INDIAN TRL $675,000 3 2 2110 DETACHD 12
5675 VICTORIA CT $699,000 3 2.1 2546 DETACHD 92
7 BECKET ST $749,000 4 3.1 4329 DETACHD 57
1500 EASTVIEW CT $784,999 4 3.1 3872 DETACHD 116
4405 SUNDEW CT $840,000 5 3.1 4535 DETACHD 107
2146 SUMMIT DR $850,000 3 2 2592 DETACHD 3
19263 MEGLY CT $874,000 5 3 3242 DETACHD 66
1511 Pine $879,450 3 2.1 2390 DETACHD 163
885 8TH ST $885,000 3 2 1730 DETACHD 195
6016 CLAIRMONT CT $950,000 3 2.1 3210 DETACHD 9
5677 CHARLES CIR $995,000 4 2.1 2976 DETACHD 5
100 LEONARD ST / Upper $1,079,000 3 2.1 3137 CONDO 21
5156 SW DAWN ST $1,150,000 3 3 2413 DETACHD 16
14414 PFEIFER DR $1,199,000 4 3.1 3744 DETACHD 61
18260 RIVER EDGE CT $1,249,000 4 3.1 4711 DETACHD 63
14190 SUNDELEAF DR $1,424,900 5 4 3688 DETACHD 28
17684 STAFFORD RD $1,499,950 6 4.1 4407 DETACHD 563
12812 ALTO PARK RD $1,500,000 4 3.1 4040 DETACHD 26
883 8th ST $1,699,000 5 4.1 4546 DETACHD 29
768 BERWICK CT $2,098,000 4 3.1 4127 DETACHD 19
1575 COUNTRY CMNS $2,179,000 4 3.1 3951 DETACHD 817
931 ATWATER RD $2,695,000 4 4.1 5059 DETACHD 132
4175 SOUTHSHORE BLVD $3,900,000 4 4.1 6332 DETACHD 1133

Sold/Closed (Aug 3-9, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY #68 $210,000 $214,000 1 1 900 CONDO 12
5064 FOOTHILLS DR #19 $317,000 $317,000 2 2 1252 CONDO 12
16200 PACIFIC HWY #7 $495,000 $487,000 2 2 1190 CONDO 29
1023 HALLINAN ST $495,000 $515,000 3 1.1 1092 DETACHD 4
17721 OVERLOOK CIR $688,000 $637,000 3 2.1 3172 DETACHD 231
14799 UPLANDS DR $724,900 $649,900 4 2 2150 DETACHD 110
17270 CANYON DR $674,900 $668,000 4 3 2754 DETACHD 5
17520 REDFERN AVE $692,000 $675,000 2 2 1776 DETACHD 22
17502 ERIN CT $799,900 $785,000 4 3 3014 DETACHD 13
5267 LAKEVIEW BLVD $979,000 $885,000 4 3.1 3454 DETACHD 118
814 LAKE SHORE RD $1,249,000 $1,241,500 3 2.1 2385 DETACHD 79
18965 Pilkington RD $1,439,000 $1,400,000 4 3 3926 DETACHD 19
4660 UPPER DR $1,895,000 $1,550,000 5 3.1 3898 DETACHD 209
17253 KELOK RD $2,659,000 $2,550,000 5 4.1 4429 DETACHD 7

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.

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Featured Neighborhood: Westlake

Westlake is probably the most classic “American” neighborhood in Lake Oswego. Developed in the 1980’s it is winding, quiet streets of lovely homes that just beg you to take your dog for a walk, or your kids to get on their bikes and spend the day outside. It is truly a wonderful neighborhood.

It’s also unbelievably convenient. Located at the very Western edge of Lake Oswego, it is bounded by I-5 on the West, Melrose St on the North, Fosberg Rd on the East, and Kruse Way on the South. It is literally at the junction of I-5 and Hwy 217. I remember when it was being developed there was a big sign that said “If you lived here, you’d be home right now”. This is because as you leave the freeway, it’s right there. If you live in First Addition, you’ve got another 10 minutes of driving to get home. If you live in Palisades, you’ve also got another 10 minutes of driving to get home. It’s just super convenient.

Westlake has 2 parks, Westlake Park and Southwood Park. Southwood Park is more of a nature area with green lawns and walking paths. Westlake Park is more of a recreation area with a huge playground and an athletic field for baseball and soccer. It is also the sight of the August portion of the Lake Oswego Summer concert series. In a non-covid 19 world, there is a free outdoor concert every Wednesday evening in the month of August.

Westlake Elementary School is also adjacent to this neighborhood, which makes it close enough for kids to walk or ride their bikes to school.

Do you see what I”m saying about a classic “American” neighborhood. It’s like something straight out of a movie. The American dream. A family home and everyone enjoying recreation and friendships.

The housing in Westlake is primarily single family residential. There are some apartments, but no condos. There is also a very small commercial area with a dozen businesses and a pizza restaurant.

There are currently 8 houses for sale in Westlake. The least expensive is 1861 square feet, 2 bedrooms, 2.5 baths, built in 1986, the interior is mostly original and would benefit from updating. It’s priced at $549,900. The most expensive is 2976 square feet, 4 bedrooms, 2.5 baths, built in 1985, it is beautifully updated and priced at $995,000.

Homes in Westlake sell fast. Because of everything I have shared here, it is a wildly popular place to live and buyers are watching and waiting. When the right house comes onto the market, they jump on it. This makes it not only a great place to live, but owning a home there is also a great investment.

The photos shared here are of homes that I have recently sold in Westlake. I know the neighborhood and would love to help you realize your dream of living in a classic “American” neighborhood.

As always, thanks for reading the blotter.
Dianne