Tag: Lake Oswego Oregon

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News & Notes ~ April 2020 Numbers

On this Memorial Day weekend, here is your look at the most recent data for the entire Portland area (April 2020) and how Lake Oswego fits in to this picture just below.

Inventory is up a bit in April, so we’ll see how that plays out in May numbers. As for April overall, this is the first month we’re really seeing the market take a bit of a hit since COVID19. Prices are still holding their own & rising while volume in all aspects of real estate dropped in April: Fewer New Listings, Pending Sales & SOLD’s than both the previous month & last year.  All areas are appreciating, however, save West Portland, and/but those prices have risen a bit in April (by $61,000 over March), so things seem likely to be leveling out there. Lake Oswego also saw an $85,000 Average Sale Price increase, and/but that can happen in an environment with such a wide span of prices from low/mid to upper end.

My trusted Mortgage Advisors tell me: Mortgage Rates are in the low 3’s for good borrowers on Conventional loans as of this writing, and Government loans (VA & FHA) have recently gone as low as 2.875% on good days.

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

  • There were 2,847  New Listings in April 2020 which decreased 32.4%  from April of 2019’s 4,210, and also dropped 17.9% from the previous month/March’s 3,468.
  • At 2,015, April 2020’s Closed Sales are down 16.4% from April 2019’s 2,409, and also down 14.5% from the previous month/March 2020’s total of 2,536
  • At 2,041, April 2020’s Pending Sales are down 34.2% from April 2019’s 3,102, and also fell 13.0% from the previous month/March 2020’s total of 2,347.
  • The Average Sale Price in April 2020 of $477,400 is up $25,300 from last year/April 2019’s $452,100, and is also up $11,900 from the previous month/March 2020’s $465,500.   YTD increase of 4.3%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in April 2020 of $424,000 rose from last year/April 2019’s $405,000 by $19,000, and is almost the same/down by $1,000 from the previous month/March 2020’s $425,000.   YTD increase of 3.9%.

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

  • North Portland:  $448,500              1.9%   (Mar $441,300)
    •                                                     YTD Median: $410,000
  • NE Portland:  $491,200                   4.8%   (Mar $470,500)
    •                                                     YTD Median: $425,000
  • SE Portland:  $449,200                   1.8%   (Mar $442,600)
    •                                                     YTD Median: $385,000
  • Gresham/Troutdale:   $371,900     3.5%   (Mar $355,000)
    •                                                     YTD Median: $358,000
  • Milwaukie/Clackamas:  $457,600  4.3%   (Mar $466,100 )
    •                                                     YTD Median: $430,200
  • Oregon City/Canby:   $445,200      3.7%   (Mar $447,000)
    •                                                     YTD Median: $430,000
  • Lake Oswego/West Linn:$772,500  3.4%  (Mar $687,400)
    •                                                      YTD Median: $599,900
  • West Portland:    $642,000             -0.4%  (Mar $580,400 )
    •                                                     YTD Median: $527,300
  • NW Wash County:  $587,400          0.4%   (Mar $544,200 )
    •                                                      YTD Median: $492,300
  • Beaverton/Aloha:     $431,100       3.8%   (Mar $445,100)
    •                                                     YTD Median: $412,000
  • Tigard/Wilsonville:   $474,600        2.3%   (Mar $487,200 )
    •                                                      YTD Median: $459,500
  • Hillsboro/Forest Grove: $422,100  6.4%   (Mar $406,900)
    •                                                      YTD Median: $391,000

LAKE OSWEGO:

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

    •  340 Active Listings (Mar 305)
    •  149 New Listings     (Mar 183)
    •   81 Pending Sales    (Mar  87)
    •   89 Closed Sales      (Mar 103)
    • Average Sale Price for April: $772,500  (Mar $687,400)
      • 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.
    •  76 Average Days on the Market   (Mar 106)

 

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Market Activity ~ May 11-17, 2020

Last week in Lake Oswego, 23 New properties entered the market, 16 moved to Pending status, and 13 were “Closed”/Sold. We also have 219 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 11-17, 2020)

Address List Price # Beds # Baths Total SF Prop Type
59 OSWEGO SMT $244,900 2 2 1140 CONDO
4626 LOWER DR / Main $245,000 2 1.1 1260 CONDO
4646 LOWER DR / Grnd $275,000 2 2 1260 CONDO
16250 PACIFIC HWY #50 $339,500 2 2 1305 CONDO
4386 THUNDER VISTA LN $399,900 2 2.1 1980 CONDO
27 GREENRIDGE CT $420,000 3 2.1 2140 ATTACHD
12806 SW BOONES FERRY RD $425,000 3 2.1 1174 CONDO
5215 MADRONA ST $479,900 3 2 1325 DETACHD
22 MORNINGVIEW CIR $562,500 3 2.1 3438 DETACHD
2941 SW ORCHARD HILL PL $750,000 5 3.1 3446 DETACHD
4089 MELISSA DR $815,000 4 2.1 2762 DETACHD
553 2ND ST $890,000 2 2.1 1816 CONDO
1766 PALISADES TERRACE DR $930,000 4 2.1 2805 DETACHD
19125 35TH PL $1,175,000 4 4.1 5153 DETACHD
671 5TH ST $1,285,000 4 2.1 2781 DETACHD
16206 REESE RD $1,625,000 4 3.1 3631 DETACHD
3920 UPPER DR $1,690,000 4 3.1 3800 DETACHD
18099 GREEN BLUFF DR $1,695,000 4 3.1 5343 DETACHD
129 FURNACE ST / Upper $1,995,000 4 4.1 4911 CONDO
19491 Lorna LN $2,195,000 4 4.1 4343 DETACHD
19494 SW LORNA LN $2,499,000 5 3.1 4830 DETACHD
1633 LESLIE LN $2,725,000 5 4.2 5921 DETACHD
13490 FIELDING RD $3,398,000 5 6.1 8286 DETACHD

PENDING SALES (May 11-17, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
9 OSWEGO SMT $175,000 1 1 764 CONDO 181
47 OSWEGO SMT $249,900 2 2 1212 CONDO 28
4455 THUNDER VISTA LN $330,000 2 2.1 2002 CONDO 5
19 BLOCH TER $420,000 2 2 1527 ATTACHD 73
16675 BONAIRE AVE $439,000 3 1 1020 DETACHD 40
1042 YATES ST $469,900 3 1.1 1100 DETACHD 4
100 KINGSGATE RD $515,000 3 2.1 1960 DETACHD 5
16824 SW Inverurie RD $565,000 3 3 1945 DETACHD 1
3721 TEMPEST DR $600,000 4 2.1 2572 DETACHD 46
6438 Frost ST $625,000 4 2.1 2269 DETACHD 39
184 D AVE $647,000 3 2.1 1636 ATTACHD 37
2535 GLENMORRIE DR $899,900 4 4 3134 DETACHD 87
5680 LA MESA CT $975,000 5 3.1 3405 DETACHD 3
475 IRON MOUNTAIN BLVD $1,379,000 4 2.2 3254 DETACHD 2
16895 CHAPIN WAY $1,439,000 4 3.2 5182 DETACHD 304
12822 ALTO PARK RD $1,495,000 4 4.1 3426 DETACHD 91

SOLD (May 11-17, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
5053 FOOTHILLS DR #A $329,900 $299,000 3 2 1252 CONDO 78
18540 SW KRISTI WAY $424,900 $424,000 3 1.1 1277 DETACHD 26
16910 TRACY AVE $450,000 $450,000 3 2 1176 DETACHD 2
19230 SW REDWING CT $455,000 $474,000 4 2.1 1842 DETACHD 62
1001 HALLINAN ST $569,000 $508,000 4 2 2580 DETACHD 30
100 LEONARD ST $569,000 $530,000 3 2 1736 CONDO 188
5511 ROYAL OAKS DR $575,000 $603,189 3 2 1898 DETACHD 6
16212 SW KIMBALL ST $599,000 $616,000 4 2.1 1844 DETACHD 4
2103 RIDGEWOOD RD $664,900 $656,000 4 2 1650 DETACHD 83
18679 INDIAN CREEK DR $659,428 $659,428 4 2.1 2292 DETACHD 2
4092 COLTSFOOT LN $750,000 $721,500 4 3 2405 DETACHD 3
4799 LAMONT WAY $925,000 $925,000 3 2.1 3142 DETACHD 1
5745 Washington CT $1,149,000 $1,035,000 4 3.1 2841 DETACHD

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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To Stage or Not To Stage

Twenty years ago staging a home prior to putting it on the market was not very common. Cleaning the house and hiding the litter box was enough. That has really changed. I think the biggest difference for this change is the Internet. 99% of buyers shop for their new home on line. Not only does staging your home dramatically improve the look of the house when people come to see it, but it makes the photos of the house really pop.

The National Association of Realtors did a study in which they surveyed Realtors who work with buyers and Realtors who work with sellers. 58% of Realtors think that a house will sell for more if it is staged. How much more varies. 29% believed a house would sell for 1-5% more. 21% believed a house would sell for 6-10% more. 3% felt it could sell for as much as 20% more.

Bear in mind that this still means that 42% did not give an opinion that it would sell for more.

My opinion is that the house still needs to be priced at market value. When you combine this with the staging the house will get lots of interest because the value will be so obvious. This can generate multiple offers and that is what will drive the price up. How far up? Easily 1-5%. More than that? Maybe.

What you don’t want to do is stage the house and expect to get more for it, and then price it above market value. Buyer’s are smart. They shop, they have aps, they are not likely to pay more than the property is worth, even if the staging makes the house look great. So when it comes to pricing, proceed with caution.

How much does it cost? According to themortgagereports.com, the initial consultation costs an average of $675. If you can do the staging with stuff you already own, then that would be it. Pretty cheap. If you are also needing furnishings the cost averages about $500-$600 a month for as long as it is needed in the house.

You don’t need to stage every room. The most important room is the living room, the family room, the kitchen/dining area, and the master bedroom. Beyond that, see what your budget can handle.

Last, staging is not a requirement. I still think decluttering and deep cleaning take the prize for the must do preparation for selling.

Please let Linda or I know if you need a reference for a staging company. We have our favorites and are happy to provide you with a list that will give you a good start.

As always, thanks for reading The Blotter,
Dianne

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Market Activity May 4-10, 2020

Market activity picked up in Lake Oswego last week. There were 15 new listings, 25 houses that went into pending status with accepted offers, and 14 closed sales. Buyers are making offers at really nice rate.

Following is the breakdown for you according to RMLS:

New on the Market (May 4-10, 2020)

Address Type Price BR Baths Sq Ft
4 Touchstone #71 Condo $199,000 2 2 984
4 Touchstone #146 Condo $244,900 2 2 979
65 Church St Condo $299,950 2 2 1040
1042 Yates St Detached $469,900 3 1.5 1100
16251 Reese Rd Detached $745,000 3 2.5 2555
5675 Victoria Ct Detached $800,000 3 2.5 2546
173 Furnace St Condo $819,000 2 2.5 2090
5820 Stewart Glen Ct Detached $849,000 5 2.5 3262
2944 Vale Ct Detached $984,000 4 2.5 3718
13592 Goodall Rd Detached $1,345,000 5 3.5 3735
15444 Boones Way Attached $1,380,000 3 2.5 3488
1471 Woodland Terr Detached $1,399,000 5 4.5 5724
792 5th St Detached $1,550,000 4 4.5 4379
13337 Leslie Ct Detached $2,250,000 4 4.5 4638
961 Terrace Dr Detached $3,095,000 5 4.5+.5 5542

Pending Sales (May 4-10, 2020)

Address Type Price BR Baths Sq Ft CDOM
8 Cervantes Circle Condo $209,900 2 1.5 912 17
86 Kingsgate Rd H104 Condo $224,900 2 2 840 59
5225 Jean Rd #208 Condo $255,000 2 2 1100 43
16200 Pacific Hwy #15 Condo $395,000 2 2 1190 56
5237 Dawn St Detached $479,000 3 1.5 1412 42
668 McVey Ave #72 Detached $495,000 3 2 1184 221
1010 Hallinan St Detached $479,900 3 1.5 1225 6
1 El Greco St Detached $499,900 4 2.5 2296 69
2091 Country Club Rd Detached $550,000 5 2 2112 109
100 Leonard St 3-4 Condo $569,000 3 2 1736 188
383 Ash St Detached $639,000 3 2.5 1825 1
905 York Rd Detached $649,000 3 2 1657 10
15773 Springbrook Ct Detached $649,900 3 2 1616 200
1639 Worthington St Detached $649,900 4 3 1920 16
8 Partridge Ln Detached $659,000 4 2.5 3583 5
1771 Campus Way Detached $668,000 3 3 3247 3
10 Buckingham Terr Detached $759,900 4 3 3763 19
14564 Kruse Oaks Blvd Detached $879,500 5 2.5 3001 5
4904 Lower Dr Detached $939,000 4 3 2803 3
4121 Childs Rd Detached $956,000 4 3.5 3396 76
1267 Maple St Detached $1,098,000 4 2.5 3388 56
16 Bernini Ct Detached $1,150,000 6 5 4786 53
4484 West Bay Rd Detached $1,250,000 5 2.5 4417 53
852 Northshore Rd Detached $1,898,000 4 5 4211 343
3015 Wembley Park Rd Detached $2,499,900 4 4.5 5211 249

Sold/Closed (May 4-10, 2020)

Address Type List Price Sold Price Sq Ft CDOM
668 McVey Ave #45 Condo $249,000 $225,000 852 208
5053 Foothills Dr D Condo $325,000 $305,000 1,252 124
1664 Bonniebrae Dr Condo $359,000 $359,000 1303 1
6313 Alyssa Terr Attached $389,000 $389,500 1546 1
5936 Dove Ct Detached $575,000 $564,850 1980 0
17835 Hillside Dr Detached $535,000 $575,000 2924 1
324 4th St Attached $625,000 $625,000 1731 3
1285 Oak Terr Detached $600,000 $635,000 1421 23
4036 Melissa Dr Detached $849,000 $855,000 3118 2
8 Dover Way Detached $1,299,000 $1,160,000 6093 130
17506 Hill Way Detached $1,125,000 $1,189,900 3163 300
1455 Timberline Dr Detached $1,200,000 $1,200,000 3554 1
1190 Fairway Rd Detached $2,599,000 $2,495,000 5855 90
16470 Phantom Bluff Ct Detached $2,699,900 $2,507,000 4975 303

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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Why You Buy a House

There are lots of great reasons to buy a home.

The reasons you’ll usually hear are practical and financial ones like:

  • Appreciation (grow your nest egg/investment)
  • Mortgage Interest and Property Tax Deductions (especially where it makes sense on a higher-end/jumbo loan home)
  • Exclusion from Capital Gains
  • Prices are Attractive/Bending toward Buyer’s benefit
  • Mortgage Rates are Low

These are all very good reasons!  But, as I read recently, if financial considerations were the only motivator, we’d all “Buy Low/Sell High” every single time.  We don’t do that.  I mean, sometimes the circumstances are just right for us to do that & that’s fabulous! But mostly people buy homes for the following reasons:

  • Family is growing/need more space
  • Just want a nicer house
  • Renting now & tired of contributing to landlord’s equity w/no personal gain
  • Be closer to work, work location changed, etc
  • Get child into a desired school or district
  • Move out of a condo to have more control over property
  • Move into a condo to have less responsibility for maintenance
  • Downsizing
  • Want to be closer to shops/restaurants/services
  • Want to be farther away from the hubbub of activity and traffic

So… all of these reasons revolve around making your Life better. That’s why I always say I help people change their lives through buying or selling real estate. Its just what its all about ; )

 

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Market Activity ~ Apr 27-May 3, 2020

Things are really holding very steady. Last week in Lake Oswego, 10 New properties entered the market, 18 moved to Pending status, and 10 were “Closed”/Sold. We also have 217 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (April 27-May 3, 2020)

Address List Price # Beds # Baths Total SF Prop Type
6073 HARRINGTON AVE $448,000 2 1 1050 DETACHD
16229 Lake Forest BLVD $549,900 4 3 2094 DETACHD
14183 TAYLORS CREST LN $796,000 4 2.1 3551 DETACHD
16495 GLENWOOD CT $1,195,000 5 3.1 4533 DETACHD
3125 ALBER SPRING CT $1,198,000 4 3.1 4308 DETACHD
1225 LAKE GARDEN CT $1,295,000 4 3.2 3558 DETACHD
16364 IVY LN $1,595,950 5 3.1 4862 DETACHD
16621 GRAEF CIR $1,700,000 2 3.1 2506 DETACHD
14005 GOODALL RD $1,800,000 4 3.1 4809 DETACHD
3358 LAKEVIEW BLVD $4,485,000 5 4 5133 DETACHD

PENDING SALES (April 27-May 3, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
3956 CARMAN DR $299,990 2 2.1 1107 CONDO 63
12888 BOONES FERRY RD $415,000 2 2.1 1182 CONDO 44
15 SUMMIT RIDGE CT $419,960 2 2.1 1750 ATTACHD 42
1485 GREENTREE CIR $565,000 4 3.1 2440 DETACHD 3
19026 ARROWWOOD AVE $572,000 3 2 1850 DETACHD 3
4900 INDIAN CREEK CT $599,900 4 3 2124 DETACHD 33
16885 SW Denney CT $600,000 3 2 1712 DETACHD 26
4007 BASS LN $699,000 4 3 2648 DETACHD 14
620 1ST ST $750,000 3 3.1 1916 ATTACHD 34
4208 ALBERT CIR $790,000 5 3 2777 DETACHD 11
2152 WEMBLEY PL $799,000 4 3 2854 DETACHD 2
960 BULLOCK ST $849,900 3 2 3062 DETACHD 11
3996 TEMPEST DR $849,900 4 2.2 3397 DETACHD 5
5015 DENTON DR $950,000 4 2.1 3131 DETACHD 32
1666 LAKE FRONT RD $1,375,000 4 3 3312 DETACHD 54
718 3RD ST $1,590,000 4 2 3759 DETACHD 1
1646 LESLIE LN $1,868,000 4 4.1 4879 DETACHD 28
18404 OLD RIVER LNDG $2,098,000 4 4 4295 DETACHD 17

SOLD (April 27-May 3, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
66 GALEN ST / Upper $179,900 $175,400 1 1 690 CONDO 39
15490 BRIANNE CT $329,900 $329,900 2 2.1 1250 ATTACHD 5
102 GREENRIDGE CT $424,000 $424,000 3 2.1 2004 ATTACHD 197
731 CLARA CT $629,000 $629,000 4 2.1 2700 DETACHD 1
4595 HASTINGS PL $703,000 $695,000 4 2.1 2178 DETACHD 3
700 PEBBLE BEACH CT $850,000 $870,000 4 2 2527 DETACHD 2
5331 W SUNSET DR $960,500 $925,000 3 3.1 3606 DETACHD 137
2397 HILLSIDE LN $925,000 $925,000 5 3 3158 DETACHD 0
17084 CANAL CIR $1,850,000 $1,685,000 5 3.1 5104 DETACHD 68
1350 Andrews RD $2,150,000 $1,800,000 3 3.1 3377 DETACHD 530

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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Helping Locally During Covid 19

Did you ever have any idea that we would experience a pandemic? I just didn’t conceptualize this circumstance at all. We are certainly learning a lot about personal strength, patience, and perseverance. And all of us are facing this time with different abilities to cope. Some are better off financially than others. Here in LO there are several ways that you can help, if you are in a position to do so.

The city of Lake Oswego has created a temporary utility assistance program. Starting with a $20,000 fund contributed by the city, individuals are also being encouraged to donate. Donations are voluntary and tax deductible. To apply for assistance, or to donate, you can go to www.lakeoswego.city/novel-coronavirus-covid-19/temporary-utility-assistance.

To help feed local families the city has partnered with Hunger Fighters to collect gift card donations. Folks are encouraged to buy gift cards from their favorite restaurants and then to drop them off at city hall (380 A Ave, drop the cards into the utility payment box in the South entrance vestibule). The gift cards will then be distributed to local families in need by Hunger Fighters. This is such a win-win. It helps local restaurants that are struggling to pay employees and to stay in business, and it helps those who are needing food.

Meals on Wheels has become more important than ever. This program is seeking donations for both their home delivery program and their lunch-to-go program. For information and to make a donation go to www.lakeoswegomealsonwheels.org or telephone 503-635-3758.

Together we will get through this. Thank you for any help you are able to give the community. Thank you for reading the blotter.
Dianne

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Market Activity April 20-26, 2020

I think that the market activity is about half of what is normal for this time of year. Pending sales appear to be holding fairly steady with about 10 properties accepting offers each of the last several weeks. Check out the days on the market for the pending properties. Of the 10 pending sales 8 sold in 25 days or less. Along with the 8 pending sales, last week Lake Oswego saw 6 properties come on the market and 8 sold/closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (April 20-26, 2020)

Address Type Price BR Baths Sq Ft
8 Cervantes Circle Condo $209,900 2 1.5 912
5364 Langford Ln Detached $869,000 4 2.5 3022
205 5th St Detached $895,000 4 3 2556
13275 Riverside Dr Detached $1,099,000 4 2-Jan 2756
16850 Cortez Ct Detached $1,299,900 4 4 3550
749 7th St Detached $1,385,000 4 3.5 4651

Pending Sales (April 20-26, 2020)

Address Type Price BR Baths Sq Ft CDOM
4268 Woodside Circle Attached $340,000 4 2 1944 351
5237 Dawn St Detached $494,800 3 1.5 1412 25
77 Kingsgate Rd Detached $529,900 3 2.5 1739 3
17835 Hillside Dr Detached $535,000 5 3 2924 1
17200 Robb PL Detached $610,000 3 2.5 2206 0
4188 Cobb Way Detached $649,900 4 3 2586 4
92 Garibaldi St Detached $769,000 4 3.5 3172 37
10 Othello St Detached $825,000 5 3 3600 25
5623 Bay Creek Dr Detached $845,000 5 2.5 3042 20
4500 West Rd Detached $899,000 3 2.5 2479 17

Sold/Closed (April 20-26, 2020)

Address Type List Price Sold Price Sq Ft CDOM
48 Cervantes Circle Condo $299,000 $260,000 1368 162
5054 Foothills Dr E Condo $355,000 $345,000 1,252 38
19415 Sycamore Ave Detached $450,000 $450,000 1584 12
16106 Lake Forest Blvd Detached $649,900 $505,000 3440 575
47 Da Vinci St Detached $599,000 $652,507 2467 6
18263 Anduin Terr Detached $749,000 $685,000 3103 133
3781 Tempest Dr Detached $899,900 $875,000 3927 21
13483 Fielding Rd Detached $949,999 $890,000 3149 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.

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News & Notes ~ March 2020 Numbers

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

Inventory remains low and so basically, we have a housing shortage going on right now. Mortgage Rates are at 3.3% as of this writing. For the most part, Portland Real Estate is holding steady with prices improving and New Listings and Closed Sales, for instance up right around 25% from last month along with  Areas in & around Gresham, Oregon City, Milwaukie/Clackamas, & Hillsboro, are still the strongest as far as Appreciation goes.

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

  • There were 3,468  New Listings in March 2020 which decreased 1.0%  from March of 2019’s 3,504, and also increased significantly- up 25% from the previous month/February’s 2,759.
  • At 2,536, March 2020’s Closed Sales rose 7.9% over March 2019’s 2,183, but are up a whopping 24.2% from the previous month/February 2020’s total of 1,897.
  • At 2,347, March 2020’s Pending Sales are down 14.3% from March 2019’s 2,738, and also fell 9.7% from the previous month/February 2020’s total of 2,598.
  • The Average Sale Price in March 2020 of $465,500 is up $17,600 from last year/March 2019’s $447,900, and also up $7,600 from the previous month/February 2020’s $457,900.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in March 2020 of $425,000 rose from last year/March 2019’s $399,000 by $26,000, and is also up $18,000 from the previous month/February 2020’s $407,000.   

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

  • North Portland:  $441,300              1.3%   (Feb $407,900)
    •                                                     YTD Median: $405,000
  • NE Portland:  $470,500                   3.3%   (Feb $482,200)
    •                                                     YTD Median: $420,000
  • SE Portland:  $442,600                   1.1%   (Feb $424,700)
    •                                                     YTD Median: $380,000
  • Gresham/Troutdale:   $355,000     4.7%   (Feb $376,600)
    •                                                     YTD Median: $356,000
  • Milwaukie/Clackamas:  $466,100  4.9%   (Feb $443,700 )
    •                                                     YTD Median: $425,000
  • Oregon City/Canby:   $447,000      3.8%   (Feb $448,600)
    •                                                     YTD Median: $430,000
  • Lake Oswego/West Linn:$687,400  2.7%  (Feb $705,100)
    •                                                      YTD Median: $586,000
  • West Portland:    $580,400             -1.5%  (Feb $581,600 )
    •                                                     YTD Median: $512,000
  • NW Wash County:  $544,200          0.1%   (Feb $510,400)
    •                                                      YTD Median: $475,000
  • Beaverton/Aloha:     $445,100       3.0%   (Feb $412,800)
    •                                                     YTD Median: $410,000
  • Tigard/Wilsonville:   $487,200        1.7%   (Feb $485,600)
    •                                                      YTD Median: $460,000
  • Hillsboro/Forest Grove: $406,900  5.8%   (Feb $414,200)
    •                                                      YTD Median: $391,000

LAKE OSWEGO:

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

    •  305 Active Listings (Feb 226)
    •  183 New Listings     (Feb 151)
    •   87 Pending Sales    (Feb 119)
    •  103 Closed Sales      (Feb  72)
    • Average Sale Price for February: $687,400  (Feb $705,100)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  106 Average Days on the Market   (Feb 86)

 

Posted on

Market Activity ~ April 13-19, 2020

Last week in Lake Oswego, 13 New properties entered the market, 8 moved to Pending status, and 14 were “Closed”/Sold. We also have 211 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (April 13-19, 2020)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWY#3 $210,000 2 2 823 CONDO
47 OSWEGO SMT / Main $249,900 2 2 1212 CONDO
45 EAGLE CREST DR #401 $285,000 3 2 1348 CONDO
4340 BOTTICELLI ST $399,999 3 3.1 2285 CONDO
17200 ROBB PL $610,000 3 2.1 2206 DETACHD
4007 BASS LN $699,000 4 3 2648 DETACHD
19 MONTICELLO DR $729,988 6 3 3537 DETACHD
10 BUCKINGHAM TER $759,900 4 3 3763 DETACHD
4208 ALBERT CIR $790,000 5 3 2777 DETACHD
960 BULLOCK ST $849,900 3 2 3062 DETACHD
4405 SUNDEW CT $850,000 5 3.1 4535 DETACHD
800 TERRACE DR $1,559,000 5 4.1 5359 DETACHD
18008 GREENBLUFF DR $1,849,000 3 3.1 4402 DETACHD

PENDING SALES (April 13-19, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #94 $145,900 3 2.1 1351 CONDO 198
18357 HEATHER ANN CT $560,000 3 2 1832 DETACHD 1
16212 SW KIMBALL ST $599,000 4 2.1 1844 DETACHD 4
1448 CEDAR ST $615,000 4 3 2544 DETACHD 244
2103 RIDGEWOOD RD $660,000 4 2 1650 DETACHD 83
4092 COLTSFOOT LN $750,000 4 3 2405 DETACHD 3
5745 Washington CT $1,149,000 4 3.1 2841 DETACHD
1350 Andrews RD $2,150,000 3 3.1 3377 DETACHD 530

SOLD (April 13-19, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
6207 HARRINGTON AVE $389,000 $389,500 3 1 960 DETACHD 11
15003 TWIN FIR RD $492,000 $470,000 2 1 984 DETACHD 88
1611 LEE ST $589,900 $599,900 3 2.1 2539 DETACHD 58
3745 DIVISION CT $599,900 $615,000 3 2 1390 DETACHD 3
1640 WOODLAND TER $619,900 $627,500 4 3 2398 DETACHD 6
1 PREAKNESS CT $645,000 $635,000 4 3 2373 DETACHD 6
17200 CANAL CIR $665,000 $665,000 3 1.1 1774 DETACHD 6
1925 MAPLELEAF CT $750,000 $750,000 4 2.1 2096 DETACHD 0
22 DOVER WAY $900,000 $900,000 4 2.1 3335 DETACHD 0
533 WEIDMAN CT $992,500 $980,000 5 3.1 4092 DETACHD 122
1259 LAKE GARDEN CT $1,099,000 $997,750 4 3 2263 DETACHD 0
13845 AMBERWOOD CIR $1,089,000 $1,100,000 4 3 3283 DETACHD 3
17614 BLUE HERON RD $1,239,000 $1,239,000 4 3 3320 DETACHD 2
467 9TH ST $1,385,000 $1,285,000 3 2.1 2979 DETACHD 54

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.