Tag: Lake Oswego Oregon

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Market Activity July 8-14, 2013

Last week in Lake Oswego there were 20 new listings, 33 pending sales, and 16 closed sales.
Here is the breakdown of activity according to RMLS:

NEW LISTINGS (July 8-14, 2013):

Address Type Price BR Bths SF
200 Oswego Summit Condo $145,000 2 2 1383
45 Eagle Crest Dr #401 Condo $199,500 3 2 1348
5966 Washington Ct Detached $229,000 3 1.5 1445
1484 Boca Ratan Dr Attached $229,900 3 1.5 1403
668 McVey Ave #45 Condo $246,400 2 1 836
791 Briercliff Ln Detached $374,900 3 2.5 1736
1250 Hemlock St Detached $449,950 5 2 2656
246 Greenwood Rd Detached $589,900 3 3 1899
2103 Ridgewood Rd Detached $599,000 3 2 1648
1981 Summit Dr Detached $647,500 3 2.5 2579
5670 Charles Circle Detached $650,000 4 2.5 3070
19364 River Run Dr Detached $679,000 5 3.5 3010
17632 Woodhurst Pl Detached $724,900 5 4.5 4423
5267 Lakeview Blvd Detached $724,900 4 3.5 3454
4540 Lamont Way Detached $899,950 4 2.5 3555
622 Carrera Ln Detached $995,000 4 4.5 5446
735 7th St Detached $999,999 3 3.5 2945
13801 Knaus Rd Detached $1,198,000 4 2 2420
14005 Goodall Rd Detached $1,350,000 4 3.5 4825
1345 Cherry Ln Detached $1,499,000 4 3.5 5259

PENDING SALES (July 8-14, 2013)

Address Type Price BR Baths SF DOM
68 Galen Condo $110,000 2 1 923 40
4105 Jefferson Pkwy Condo $215,000 2 2.5 1359 11
6 The Grotto Detached $309,900 3 2 1381 14
14854 Twin Fir Rd Detached $310,000 3 2 1287 4
5895 Burma Rd Detached $334,900 4 2.5 1781 72
4700 Lower Dr Detached $339,000 3 2.5 1747 147
540 2nd St Condo $359,900 2 2.5 1520 18
16200 Terrace Dr Detached $400,000 3 2 2085 2
15509 Frost Ln Detached $449,900 4 2.5 2364 77
31 Walking Woods Dr Detached $450,000 4 3 2889 19
303 Lake Bay Ct Detached $459,900 3 2.5 1560 68
732 Clara Ct Detached $460,000 4 3.5 2935 104
1440 Greentree Circle Detached $469,900 4 3 2488 3
207 Evergreen Rd Attached $470,000 3 3.5 1789 3
9 Bernini Rd Detached $495,000 3 2.5 3166 18
13520 Knaus Rd Detached $575,000 4 3 2641 2
12 Juarez St Detached $579,000 4 3.5+.5 3735 26
4755 Avery Ln Detached $599,000 4 2.5 2735 1
19305 Riverwood Ln Lot 1w Detached $609,654 4 4 3110 0
19318 Riverwood Ln Lot 8w Detached $611,451 5 4 3110 0
17766 Marylcreek Dr Detached $639,000 4 3.5 4472 1110
4076 Orchard Dr Detached $699,500 4 3.5 3991 10
17692 Woodhurst Pl Detached $775,000 4 2.5 3890 24
5507 Bay Creek Dr Detached $799,900 5 3.5 3900 40
14100 Taylors Crest Ln Detached $819,000 4 2.5 4087 43
15559 Village Dr Detached $900,000 4 2.5 3458 0
642 8th St Detached $949,900 4 2.5+.5 3293 220
5320 Childs Rd Detached $949,950 5 3 4539 107
12700 Fielding Rd Detached $997,500 3 3 3025 115
792 5th St Detached $1,195,000 4 4.5 4379 21
17809 Kelok Rd Detached $1,249,000 5 3.5 3700 22
17618 Crestline Dr Detached $1,295,000 4 3.5+.5 6317 119

SOLD (July 8-14, 2013)

Address Type List Price Closed Price Sq Ft CDOM
4 Touchstone Dr #146 Condo $108,000 $105,150 979 15
4043 Jefferson Pkwy Condo $165,000 $155,000 1182 31
5225 Jean Rd #108 Condo $179,000 $170,000 1500 16
8 Weatherstone Condo $309,000 $309,000 1,692 2
6024 Fernbrook Circle Detached $344,900 $344,500 1470 97
1257 Hallinan Circle Detached $375,000 $380,000 2548 24
18357 Heather Ann Ct Detached $399,900 $403,000 1832 58
18207 Westminster Dr Detached $489,000 $485,000 2258 9
3500 Lanewood St Detached $499,900 $525,000 2217 3
17485 Brookhurst Dr Detached $749,500 $730,000 4550 37
15508 Diamond Head Rd Detached $1,095,000 $815,000 3715 264
19371 SW Riverwood Ln Detached $1,120,000 $875,600 5048 244
740 7th St Detached $995,000 $995,000 5431 0
16545 Maple Circle Detached $1,395,000 $1,325,000 3800 233
1607 Lakefront Rd Detached $1,649,000 $1,500,000 4012 376
910 Northshore Rd Detached $3,595,000 $3,250,000 5,203 366

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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Buying Pointers

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Your home is likely the single biggest purchase you will ever make. You want to do it right. You want to find the right house, at the right price, and experience the best deal possible. Of course as a Realtor I am going to suggest that you use a Realtor, but I actually have thoughts beyond that that I thought I would share with you.

Get Pre-Qualified
Use a good reputable lender who will tell you what you can afford. This accomplishes two things: you know you are looking at houses that you can actually buy, and it gives you strength in negotiating. With out a letter stating that you are pre-qualified, a person selling real estate will not take you seriously.

Check your thinking
Buying a home is a pretty personal experience. You end up sharing extremely personal information with your lender and your Realtor. It takes a good deal of your time, which makes the rest of your life more stressful. Knowing this, here are my pearls of wisdom:

1. Be honest with everyone up front. If you have credit problems, tell your lender and let him/her help you to fix them. If you hate day-light basement homes, tell your Realtor so that he/she doesn’t waste your time showing them to you. Communication is king!

2. Be prepared to jump quickly when a good house comes onto the market. If it’s a nice house that is well priced, you won’t be the only person who wants it. These nice houses are currently selling fast. Your Realtor is not trying to pressure you when they tell you there are other offers or that they are of the opinion that there will be other offers. This is the current market. So be prepared to make decisions quickly.

3. Do a thorough home inspection. Today it is common to video scope the sewer line and test for radon, along with the standard full-house inspection. If it’s an older home, ask about previous in-ground oil tanks. If the seller has no knowledge, have the yard scanned for a tank. Know your options about inspections by visiting http://www.oregonfirst.com/buyer_advisory

4. Be patient with your loan officer. A good loan officer is much like a coach. They collect all of the information from you that they anticipate you needing to be approved by the bank’s underwriter, then they throw you into the game. Sometimes, well, actually lots of times, the underwriter throws your file back to the loan officer and asks for more data. It is aggravating as all get out, but all of the banks are doing it. It is not your loan officer picking on you. They are working very hard to get you your loan.

5. Don’t make any purchases on credit while in escrow. Your credit and employment will both be checked again just before closing. Any major changes could put everything on the skids. I had a sale get delayed by 3 weeks because the buyer went to a large retail store and maxed out a credit card on new stuff for the house. It took 3 weeks to pay off the new balance and get the credit score back up to a number that final underwriting would approve.

6. Be flexible with the closing date. Everyone is working towards the same goal of completing the purchase, but everything is just taking longer. It feels to me like lenders are working right up until the target closing date and then not giving title companies enough time to get everyone signed. Most transactions are closing 1-7 days late. So if you have lined up your moving truck and have all your stuff in the driveway, it’s going to be stressful. Build in a buffer, if you can. Arrange to stay in your current housing for about a week following the target closing date. This will save you lots of stress and, if it closes right on time, give you time for a leisurely move.

7. Go to http://www.oregonfirst.com/buyer_advisory you’ll find info on so much more than I have covered here. It is a great resource.

I hope you find this helpful. Don’t hesitate to contact Linda or myself if you have questions. As always, we love what we do and we are here to help.
Dianne

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Market Activity ~ July 1-7, 2013

Last week there were 17 New properties entering the market, 18 moving to Pending status, and 24 that “Closed”/Sold.
Here is the breakdown of activity according to RMLS:

NEW SALES (July 1-7, 2013):

Address List Price # Beds # Baths Total SF Prop Type
4105 JEFFERSON PKWY $215,000 2 2.1 1359 CONDO
12808 BOONES FERRY RD $279,000 3 2.1 1174 CONDO
5813 SW KENNYCROFT WAY $292,500 3 1 1182 DETACHD
14854 TWIN FIR RD $310,000 3 2 1287 DETACHD
1640 ASPEN ST $359,000 4 2.1 2218 DETACHD
1023 LUND ST $429,000 4 2.1 2313 DETACHD
16878 GASSNER LN $499,000 4 2 2998 DETACHD
3300 SOUTHSHORE BLVD $515,000 1 2.2 1162 DETACHD
18453 TAMAWAY DR $609,900 4 2.1 2750 DETACHD
19524 RIVER RUN DR $638,950 4 2.1 2630 DETACHD
18343 Anduin TER $649,900 4 2.1 3000 DETACHD
624 ATWATER RD $1,089,000 5 3.1 4463 DETACHD
17301 Canal CIR $1,099,000 3 2.1 1812 DETACHD
4800 UPPER DR $1,250,000 5 5 5016 DETACHD
17353 CANAL CIR $1,795,000 5 4 3329 DETACHD
1455 LAKE FRONT RD $3,200,000 6 5.2 6145 DETACHD

PENDING SALES (July 1-7, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4619 LAKEVIEW BLVD #D3 $61,000 1 1 753 CONDO 418
47 EAGLE CREST DR #55 $62,000 1 1 672 CONDO 8
57 GALEN ST $69,900 1 1 689 CONDO 1
360 CERVANTES CIR #14F $114,500 2 1 832 CONDO 36
188 Oswego Summit $139,950 2 2 1383 CONDO 19
4 TOUCHSTONE DR #74 $153,000 3 2.1 1351 CONDO 286
4458 THUNDER VISTA LN $225,000 2 2.1 2200 CONDO 15
17808 CARDINAL PL $339,000 3 2 1815 DETACHD 1
4090 VIRGINIA WAY $399,900 3 2 1456 DETACHD 6
1270 HIDE A WAY CT $418,000 3 2.1 1907 DETACHD 1
18781 INDIAN CREEK WAY $455,000 4 2.1 2355 DETACHD 3
14066 CHATHAM CT $574,900 5 2.1 2800 DETACHD 6
4102 CHAD DR $614,950 4 2.1 2987 DETACHD 51
4605 CHELSEA LN $649,900 4 2.1 3411 DETACHD 18
18460 RAY RIDGE DR $650,000 3 2.1 3241 DETACHD 114
18520 DELENKA LN $1,299,000 4 4 5986 DETACHD 381
1505 LAKE FRONT RD $2,250,000 4 3.1 4927 DETACHD 54

SOLD (June 1-7, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
11 Oswego Summit #11 $149,000 $130,000 2 2 1212 CONDO 12
15472 BRIANNE CT $239,000 $225,000 2 2.1 1208 ATTACHD 50
10 WALKING WOODS DR $250,000 $285,000 3 2.1 2194 DETACHD 602
3550 LAKE GROVE AVE $349,900 $319,000 3 2 1577 DETACHD 423
14550 DORIS AVE $349,900 $338,000 3 1.1 1474 DETACHD 1053
342 LIVINGOOD LN $400,000 $390,000 4 2.1 2384 DETACHD 5
4914 MULHOLLAND DR $439,900 $441,900 3 2.1 2500 ATTACHD 2
12 MONTICELLO DR $499,000 $450,000 4 2.1 3658 DETACHD 7
828 5TH ST $519,000 $519,000 2 2 1248 DETACHD 2
10 SCARBOROUGH DR $560,000 $527,500 4 3 3537 DETACHD 17
12723 ADRIAN CT $569,950 $545,000 4 3 3219 DETACHD 35
18235 MORIA CT $550,000 $550,000 3 2.1 2898 DETACHD 0
32 HILLSHIRE DR $619,900 $582,500 4 2.1 3605 DETACHD 68
5670 MERIDIAN CT $600,000 $587,100 4 2.1 2779 DETACHD 3
16723 BONAIRE AVE $619,500 $623,433 4 3 2847 DETACHD 6
18255 TAMAWAY DR $649,000 $630,000 4 2.1 3457 DETACHD 28
557 2nd ST #205 $680,000 $650,000 2 2.1 1833 CONDO 63
5384 WASHINGTON CT $699,900 $675,000 4 3.1 3228 DETACHD 43
1222 GLENMORRIE DR $699,999 $675,000 4 3 2875 DETACHD 49
3480 UPPER DR $749,000 $753,000 3 2.1 2571 DETACHD 17
17340 CARDINAL DR $885,000 $870,000 4 3 3417 DETACHD 120
310 IRON MOUNTAIN BLVD $1,100,000 $900,000 4 2.2 3503 DETACHD 539
14106 Goodall RD $939,500 $923,000 4 3.1 3597 DETACHD 80

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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July 4th Weekend ~ Sunday Open Houses!

July 4We hope you’ve been enjoying this 4th of July holiday. What a gorgeous weekend to look for that perfect “one”!   …Your new home that is : )

Dianne and I are running around with our clients as usual, but are never too busy for our Property Blotter readers!  As always, we’re here to help you if you are not working with a Realtor and need some assistance in Lake Oswego.

Below you’ll find a fine line-up of homes on tour Sunday according to RMLS.

Enjoy!

Address L/Price # Beds # Bath Total SF Open
4000 CARMAN DR #60 $155,000 2 2 866 1-3PM
45 EAGLE CREST DR #119 $179,900 3 2 1348 1-4PM
4105 JEFFERSON PKWY $215,000 2 2.1 1359 12-2PM
4956 GALEN ST $419,000 3 2.1 2431 1-3PM
837 COUNTRY CLUB RD $425,000 4 3 1750 2-4PM
31 WALKING WOODS DR $450,000 4 3 2889 1-3PM
20 WALKING WOODS DR $475,000 5 3 3144 1-3PM
17730 MARYLBROOK DR $525,000 3 2.1 2951 2-4PM
5272 TUALATA LN $549,000 4 3 2529 1-3PM
5555 FIELDSTONE CT $589,500 3 2.1 2664 12-3PM
5960 CLAIRMONT CT $685,000 4 2.1 3000 1-3PM
112 NORTHSHORE CIR $1,560,000 3 3.1 3632 11AM-4PM
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Market Activity June 24-30, 2013

Along with our heat wave, last week brought us a sizzling real estate market. 24 new listings, 21 pendings sales, and 21 closed sales, it’s feeling a lot like summer.
Here is the breakdown of activity according to RMLS:

NEW LISTINGS (June 24-30, 2013):

Address Type Price BR Bths SF
47 Eagle Crest Dr #55 Condo $62,000 1 1 672
172 Oswego Summit Condo $99,900 2 2 1383
44 Eagle Crest Dr #29 Condo $134,900 1 1 798
4204 Woodside Circle Attached $269,900 2 2 1308
18420 Don Lee Way Detached $275,000 3 1 924
6 The Grotto Detached $309,900 3 2 1381
16624 Roosevelt Ave Detached $330,000 2 2 2802
540 2nd St Condo $359,900 2 2.5 1520
31 Oriole Ln Detached $375,000 3 3 1968
4200 Westbay Rd Detached $419,000 2 1 944
15509 Partridge Dr Detached $419,900 4 3 2299
4779 Heritage Ln Detached $429,000 3 2 2121
1 Hidalgo St Detached $448,500 3 2.5 2489
14071 Sundeleaf Dr Detached $449,900 5 3 2600
1287 Rockinghorse Ln Detached $499,000 3 2 1686
6 Hillshire Dr Detached $519,000 5 3 3254
14066 Chatham Ct Detached $574,900 5 2.5 2800
5206 Royal Oaks Dr Detached $585,000 5 3.5 3038
4860 Hastings Dr Detached $645,000 4 2.5 2942
2478 Marylview Ct Detached $679,900 5 3 3526
1273 Wells St Detached $869,000 4 3 4000
2943 Lakeview Blvd Detached $1,095,000 4 3 3794
2135 Ridge Pointe Dr Detached $1,275,000 4 4.5+.5 6755
12 Dover Way Detached $1,799,900 5 5.5+.5 7658

PENDING SALES (June 24-30, 2013)

Address Type Price BR Baths SF DOM
284 Cervantes Circle Condo $104,500 2 2 1052 142
6053 Fernbrook St Detached $299,000 3 1 912 18
5311 Chinook CT Detached $299,900 3 2 1488 4
85 Laurel St Detached $360,000 4 3 2820 49
3554 Tempest Dr Detached $399,000 3 2.5 2279 57
13395 Vermeer Dr Detached $439,000 4 2.5 2461 7
732 Clara Ct Detached $460,000 4 3.5 2935 84
980 Cumberland Pl Detached $475,000 3 2 2791 7
4031 Old Gate Rd Detached $499,900 4 3.5 3704 348
134 Del Prado St Detached $569,000 5 3 3972 21
13210 Deerfield Ct Detached $649,900 4 2.5 3341 66
17151 Wall St Detached $675,000 5 4 4141 53
2833 Rivendell Rd Detached $718,000 4 2.5 3093 17
13680 Knaus Rd Detached $749,000 3 2.5 3006 57
17797 Marylcreek Dr Detached $775,000 3 4 3220 10
2719 Rivendell Rd Detached $799,000 4 2.5 3554 36
3012 Rivendell Rd Detached $889,000 5 4.5 4607 71
15508 Diamond Head Rd Detached $1,095,000 3 4 3715 264
17900 Crestline Dr Detached $1,599,000 5 3.5 4738 212
18210 Crestline Dr Detached $1,600,000 3 3 3725 0
693 Terrace Dr Detached $1,898,000 4 3 3296 282

SOLD (June 24-30, 2013)

Address Type List Price Closed Price Sq Ft CDOM
200 Burnham Rd #400 Condo $149,000 $100,000 948 652
5881 Fernbrook Circle Detached $254,900 $250,000 1416 11
88 Kingsgate Rd Detached $299,500 $300,000 1675 8
1425 Greentree Circle Detached $339,000 $339,999 1,809 8
19060 Indian Springs Circle Detached $359,000 $348,000 1355 47
1288 Rockinghorse Ln Detached $382,500 $370,000 1742 111
5745 Windfield Loop Detached $369,900 $370,000 1885 22
4241 Chapman Way Detached $445,000 $380,000 2440 277
598 Milburn Ct Detached $399,900 $390,000 3036 6
1550 Bedford Ct Detached $409,000 $404,000 2359 4
31 Nova Ct Detached $423,000 $419,000 2106 10
1407 Greentree Circle Detached $459,000 $438,000 2201 8
730 Briercliff Ln Detached $465,000 $465,000 3275 6
13658 Shireva Dr Detached $570,000 $535,000 3502 31
5880 Meadowcreek Ct Detached $625,000 $600,000 2905 5
3130 Westview Ct Detached $649,000 $620,000 3,900 83
3201 Fir Ridge Rd Detached $699,000 $675,000 2571 54
14146 Edenberry Dr Detached $725,000 $677,600 3100 35
940 Cumberland Rd Detached $799,000 $750,000 3062 71
760 7th St Detached $969,000 $940,000 4536 33
13728 Knaus Rd Detached $1,025,000 $1,025,000 4041 2

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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Open Houses 6/30/13

It’s a beautiful summer weekend. Perfect for touring some wonderful homes. This Sunday in Lake Oswego there are 24 open houses scheduled. Enjoy!

Address Price Type Bedroom Bath Open
4 Touchstone #126 $115,000 Condo 2 2 3 to 5
4458 Thunder Vista Ln $225,000 Attached 2 2.5 1 to 4
4302 Botticelli St $245,000 Attached 3 3.5 11 to 2
15205 Boones Way $299,900 Attached 3 2 12 to 2
31 Oriole Ln $375,000 Detached 3 3 11 to 1
600 Tippecanoe Ct $375,000 Detached 3 2 1 to 3
13198 Peters Rd $434,500 Detached 3 2.5 2 to 6
14071 Sundeleaf Dr $449,900 Detached 5 3 1 to 3
16933 Greentree Ave $479,000 Detached 3 2.5 1 to 3
4890 Sage Hen Circle $479,900 Detached 4 2.5 12 to 2
6192 Harrington Ave $489,500 Detached 5 3 1 to 3
16907 Cherry Crest Dr $499,000 Detached 5 3.5 2 to 4
16966 Summer Pl $525,000 Detached 4 2.5 1 to 3
6 Juarez St $540,000 Detached 4 3.5 3 to 5
5272 Tualata Ln $549,000 Detached 4 3 1 to 3
4121 Hedge Nettle Ct $552,500 Detached 3 2.5 1 to 3
45 Aquinas St $554,000 Detached 3 2.5 1 to 4
13265 Fox Run $659,000 Detached 4 2.5 12 to 2
4540 Lamont Way $919,950 Detached 4 2.5 1 to 3
18325 Crestline Dr $1,275,000 Detached 5 4 1 to 4
17485 Cardinal Dr $1,295,000 Detached 4 3.5 1 to 4
17618 Crestline Dr $1,295,000 Detached 4 3.5+.5 1to 4
853 D Ave $1,350,000 Detached 4 3.5 2 to 4
112 Northshore Circle $1,575,000 Detached 3 3.5 11 to 4
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LO Housing Snap Shot

I get a kick out of looking at statistics. If you have been reading the blotter for a few years, you’ll also know that I like to do a comparison of most expensive in LO versus least expensive. LO is known for expensive, lake-front homes. However, that is not the definition of Lake Oswego real estate. There is actually quite a wide variety of house values in Lake Oswego. With all of this in mind, I decided to put together a reference chart so that you and I can both see the last 8 years market activity, based upon price range.

I took some liberties here. I lumped the expensive inventory into $2,000,000+. I also lumped the less expensive inventory into $100,000-$300,000. In both cases I did this because there just simply isn’t a lot of houses at either extreme of the spectrum. In between I broke it down into $100,000 increments, but for the sake of time, stopped at $700,000. I may go back and look at the $700,000 to $2,000,000, but that would be in another post.

One last liberty that I took: I did a 2013 January to July and then using that number, projected the full year. There are lots of variables that could affect this final number, so this one is pretty speculative.

These are all single-family, detached homes and not condos.

Here is what I found:

Homes Priced $2,000,000 to $30,000,000 Homes Priced $400,000 to $500,000
2013 1st Six Months/Projected 3/6 2013 1st Six Months/Projected 75/150
2012 7 2012 108
2011 4 2011 86
2010 3 2010 86
2009 8 2009 74
2008 3 2008 74
2007 12 2007 112
2006 7 2006 135
Homes Priced $600,000 to $700,000 Homes Priced $300,000 to $400,000
2013 1st Six Months/Projected 40/80 2013 1st Six Months/Projected 70/140
2012 47 2012 125
2011 45 2011 124
2010 39 2010 113
2009 36 2009 105
2008 46 2008 74
2007 69 2007 94
2006 79 2006 94
Homes Priced $500,000 to $600,000 Homes Priced $100,000 to $300,000
2013 1st Six Months/Projected 53/106 2013 1st Six Months/Projected 39/78
2012 92 2012 130
2011 59 2011 111
2010 76 2010 79
2009 51 2009 51
2008 52 2008 12
2007 97 2007 13
2006 97 2006 21

Here are some of my personal observations:

Those $2,000,000+ houses were selling pretty well before the recession with 12 sold in 2007. They dropped off a bit in the recession, but look at 2009. In the depth of the recession more were sold than were sold in 2006, a peak boom year. 2013 we are on track to be about where we were at in 2012. This market feels stable, to me, but not a sellers market by any shape of the imagination.

In the $600,000 to $700,000 range the market demand dropped by 50% from 2006 to 2009. This price range suffered during the recession. My projection for 2013 puts this price range demand right back where it was pre-recession.

The $500,000 to $600,000 range dropped by nearly 50% between 2006 and 2009, but looking at 2012 and at my projection for 2013, the demand for this price range appears to have recovered.

In the $400,000 to $500,000 range there was a 50% drop in demand from 2006 to 2009. My projection for this year puts the demand at 110% of what it was in 2006. This price range is in high demand.

In the $300,000 to $400,000 range the market is pants on fire. In 2006 94 houses sold in this price range, in 2012 125 sold, and my projection for 2013 is 140. The catch here is that prices are going up so this inventory is shrinking. There may not be enough new listings in this range to meet the demand and so the projection I have done will probably be restricted by lack of homes available.

In the $100,000 to $300,000 range there are only 5 properties currently for sale. In 2006 just 21 homes sold for under 300K. I find this part really interesting. Even in this super affordable part of the Lake Oswego market, in the depth of the recession, there was a fall off of demand. 2008 had just 12 houses sold: anemic for sure. Then look at 2009 and 2010. These were the years of the “first-time home buyer incentive” that was part of the Federal stimulus deal. From 2008 to 2009 there was a 400% increase in sales in this price range. In 2012 130 homes were sold in Lake Oswego for under $300,000. This part of the market is a sellers paradise. This year there have been 39 sales. If I projected the same level of demand to the end of the year that would mean 78 sales. The catch? There are only 5 active listings under $300,000. So that is not going to happen. And the reason there were so few sales in 2006 in this price range? It wasn’t because there was a lack of demand. It was because there was a lack of inventory. So this part of the market has recovered very nicely, indeed.

This brings me back to my original curiosity. What is the most and least expensive house currently for sale in LO?

At a modest price of $9,998,000 you can buy a 13,462 square foot, main-lake home. It features 5 bedrooms, 6 full baths, and 2 half baths. Built in 2009 it has every modern amenity you could imagine.

At a slightly more modest price of $225,000 you can buy at 1050 square foot home on a slightly-busy street. It features 3 bedrooms and 1-full bath. Built in 1920 it has a carport and is on a nice sized lot.

I hope you found this enlightening. Statistics can be fun.
Dianne

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Market Activity ~ June 17-23, 2013

Last week there were 35 New properties entering the market, 23 moving to Pending status, and 25 that “Closed”/Sold.
Here is the breakdown of activity according to RMLS:

NEW SALES (June 17-23, 2013):

Address List Price # Beds # Baths Total SF Prop Type
88 OSWEGO SMT #88 $109,900 1 1 764 CONDO
6930 MONTAUK CIR $129,000 2 1 924 CONDO
4 TOUCHSTONE DR #74 $153,000 3 2.1 1351 CONDO
247 CERVANTES $193,499 2 2 1384 CONDO
668 MCVEY AVE #46 $220,000 2 1 852 CONDO
17500 PILKINGTON RD $225,000 3 1 1050 DETACHD
4458 THUNDER VISTA LN $225,000 2 2.1 2200 CONDO
5311 CHINOOK CT $299,900 3 2 1488 DETACHD
1733 Kilkenny RD $349,000 3 1.1 1654 DETACHD
133 KINGSGATE RD $379,345 3 2.1 2132 DETACHD
1935 FERNWOOD DR $379,950 4 3 2100 DETACHD
600 TIPPECANOE CT $389,900 3 2 1812 DETACHD
464 LIVINGOOD LN $450,000 4 2.1 2584 DETACHD
31 WALKING WOODS DR $450,000 4 3 2889 DETACHD
33 SPINOSA $459,000 3 2.1 2250 DETACHD
980 CUMBERLAND PL $475,000 3 2 2791 DETACHD
1508 PINE ST $479,000 3 2.1 2300 DETACHD
16907 CHERRY CREST DR $499,000 5 3.1 3480 DETACHD
9 BERNINI CT $515,000 3 2.1 3166 DETACHD
87 ASH ST $519,000 3 2 2442 DETACHD
12 JUAREZ ST $579,000 4 3.2 3735 DETACHD
15930 TWIN FIR RD $669,000 3 2.1 2620 DETACHD
14370 UPLANDS DR $699,000 5 3 3036 DETACHD
2630 RIVENDELL RD $769,900 4 3.1 4611 DETACHD
17797 MARYLCREEK DR $775,000 3 4 3220 DETACHD
17692 WOODHURST PL $789,000 4 2.1 3890 DETACHD
5900 SUNCREEK DR $795,000 5 2.1 3736 DETACHD
5728 BAY CREEK DR $819,900 5 2.1 3567 DETACHD
17390 GRANDVIEW CT $989,999 4 4.2 4568 DETACHD
1057 BULLOCK ST $1,049,000 4 3.1 4617 DETACHD
792 5TH ST $1,195,000 4 4.1 4379 DETACHD
17809 KELOK RD $1,249,000 5 3.1 3700 DETACHD
706 MCVEY AVE $1,495,000 4 3.1 3113 DETACHD
18320 MEADOWLARK LN $1,599,000 4 4.2 6053 DETACHD

PENDING SALES (June 17-23, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
668 MCVEY AVE #14 $119,900 1 1 636 CONDO 2
4417 THUNDER VISTA LN $179,000 2 2.1 1455 CONDO 116
19350 MARLIN AVE $208,000 3 1 1067 DETACHD 466
6338 WASHINGTON CT $349,900 3 1.1 1558 DETACHD 2
17614 SCHALIT WAY $350,000 3 2 1561 DETACHD 5
14446 Holly springs RD $379,000 3 2.1 1699 DETACHD 67
5490 ROYAL OAKS DR $449,900 3 2 1761 DETACHD 1
14371 SHERBROOK PL $450,000 3 2.1 2550 DETACHD 67
18740 WOOD DUCK CIR $489,000 3 2 2535 DETACHD 8
4663 BLACK FOREST CT $499,000 4 2.1 2168 DETACHD 20
3500 LANEWOOD ST $499,900 3 2.1 2217 DETACHD 3
3653 TEMPEST DR $500,000 4 2.1 3114 DETACHD 4
13005 ROGERS RD $549,900 3 2.2 2917 DETACHD 55
1255 BAYBERRY RD $549,900 3 2 2140 DETACHD 155
14130 GABRIELLE CT $589,000 4 2.1 2877 DETACHD 12
1222 TIMBERLINE DR $649,900 4 3 3256 DETACHD 32
547 MIDDLECREST RD $730,000 2 2.1 1888 DETACHD 27
17903 UPPER CHERRY LN $897,000 4 2.1 3912 DETACHD 33
2965 TOLKIEN LN $949,800 4 2.1 4337 DETACHD 52
740 7TH ST $995,000 7 7 5431 DETACHD 0
15567 VILLAGE DR $1,295,000 4 4 5247 DETACHD 12
14460 UPLANDS DR $1,549,000 4 3.1 3989 DETACHD 276

SOLD (June 17-23, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #68 $112,500 $112,500 2 2 984 CONDO 6
200 BURNHAM RD #104 $115,000 $117,500 1 1 858 CONDO 56
4000 CARMAN DR #71 $120,000 $120,000 2 2 834 CONDO 1
45 EAGLE CREST DR #213 $139,900 $129,900 2 1.1 1056 CONDO 82
750 1ST ST #D24 $175,000 $154,000 2 2 1350 CONDO 335
16164 PARKER RD $269,900 $230,000 3 1 1080 DETACHD 282
4 SAINT HELENS CIR $299,000 $237,000 3 2 1617 DETACHD 11
1118 OAK ST $285,000 $272,500 3 1.1 1320 DETACHD 23
6109 SW BURMA RD $349,900 $315,000 3 2 1318 DETACHD 187
18410 INDIAN CREEK DR $324,000 $324,000 4 2 1739 DETACHD 6
15540 PARTRIDGE DR $419,900 $400,000 4 3 2203 DETACHD 14
3707 OLSON CT $405,000 $405,000 4 3 3026 DETACHD 0
618 5TH ST $475,000 $410,000 4 2.1 2320 DETACHD 201
22 OTHELLO ST $429,900 $429,900 3 2.1 2168 DETACHD 3
1701 HIGHLAND DR $499,900 $467,200 4 3 3126 DETACHD 66
3600 UPPER DR $469,900 $470,000 4 2 2755 DETACHD 1
2464 MARYLHAVEN PL $539,000 $530,000 4 2.1 2898 DETACHD 99
17363 GRANDVIEW CT $695,000 $610,000 3 3.1 4218 DETACHD 89
14350 MEADOW GRASS ST $674,900 $630,000 4 3 3329 DETACHD 43
1667 VILLAGE PARK LN $975,000 $812,500 5 3.1 5027 DETACHD 74
3729 ELEANOR CT $978,500 $950,000 4 4.1 4061 DETACHD 12
3933 EDENS EDGE DR $995,000 $995,000 4 3.1 4210 DETACHD 0
1947 SUMMIT DR $1,385,000 $1,335,000 5 5.1 5584 DETACHD 57
1000 ATWATER RD $1,700,000 $1,700,000 5 4.2 6391 DETACHD 0

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

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

Well, hopefully you’re not getting tired of hearing about how the market is trending upward!

According to the RMLS Market Action Report for the Portland Metro Area May, 2013:

  • At 2,682, Closed Sales were a 26.2% increase over April, and a 27.8% increase over May of 2012.
  • There were 3,833 New Listings in May. The last time this number was higher was July 2010 at 4,029.
  • The Average Sale Price in May was $316,900, up from $302,600 in April 2013.
  • Pending Sales (accepted offers) increased from April 2013, but only slightly from 2,942  to 2978 in May.

For our Property Blotter readers, the combined area of Lake Oswego and West Linn also reported fantastic numbers:

    • 480 Active Listings
    • 252 New Listings
    • 188 Pending Sales
    • 154 Closed Sales
    • An average Sale Price of $474,700.
    • Average Time on the Market: 108 Days
Posted on

Market Activity June 10-16, 2013

There was more great real estate activity in Lake Oswego last week with 19 new listings, 18 houses that went pending, and 23 closed sales. Most homes are continuing to sell quickly, and in every price range.
Here is the breakdown of activity according to RMLS:

NEW SALES (June 10-16, 2013):

Address Type Price BR Bths SF
188 Oswego Summit Condo $139,950 2 2 1383
4000 Carmen Dr #12 Condo $158,000 2 2 866
195 Oswego Summit Condo $229,900 2 2 1506
15121 Quarry Rd Detached $344,800 3 2 1284
837 Country Club Rd Detached $425,000 4 3 1750
13198 Peters Rd Detached $434,500 3 2.5 2630
4286 Orchard Way Detached $478,500 3 2 1998
18442 Deerbrush Ave Detached $479,000 4 2.5 2550
18740 Wood Duck Circle Detached $489,000 3 2 2535
5272 Tualata Ln Detached $549,000 4 3 2529
45 Aquinas St Detached $554,000 3 2.5 2981
1931 Park Forest Ct Detached $649,000 5 4.5 3866
4605 Chelsea Ln Detached $649,900 4 2.5 3411
5522 Royal Oaks Dr Detached $683,500 4 2.5 2471
13265 Fox Run Detached $699,000 4 2.5 2614
2833 Rivendell Rd Detached $718,000 4 2.5 3093
13080 Thoma Rd Detached $1,150,000 3 2 2810
3200 Childs Rd Detached $1,295,000 4 3.5 5128
12210 Orchard Hill Rd Detached $1,495,000 4 3.5+.5 4640

PENDING SALES (June 10-16, 2013)

Address Type Price BR Baths SF DOM
4 Touchstone #126 Condo $115,000 2 2 984 87
4 Touchstone #147 Condo $165,000 3 2.5 1351 6
4 Saint Helens Circle Detached $275,000 3 2 1617 11
5432 Kenny St Detached $278,000 3 1 1352 8
79 Kingsgate Rd Detached $359,000 3 2.5 1938 29
6173 Washington Ct Detached $370,000 2 2 1440 55
18971 Indian Springs Circle Detached $375,000 3 2 1525 2
1467 Greentree Circle Detached $412,500 3 2 1896 57
42 Spinosa Detached $439,900 3 2.5 2056 36
8 Hotspur St Detached $440,000 3 2.5 1954 56
2395 Greentree Rd Detached $465,000 4 2.5 2832 14
16976 Cherry Crest Dr Detached $499,000 4 2.5 2655 18
15988 White Oaks Dr Detached $549,999 4 2.5 2854 34
110 3rd St Detached $550,000 1 1 915 130
18183 Westminster Dr Detached $558,000 3 2.5 3066 50
5710 Charles Circle Detached $668,000 4 2.5 3061 4
2896 Tolkien Ln Detached $749,000 5 3.5 5180 15
2719 Rivendell Rd Detached $799,000 4 2.5 3554 20

SOLD (June 10-16, 2013)

Address Type List Price Closed Price Sq Ft CDOM
4620 Lower Dr Condo $75,000 $75,005 1160 107
5533 Tree St Detached $259,500 $263,000 1114 2
72 Greenridge Ct Attached $269,000 $269,000 1824 7
18816 Longfellow Ave Detached $289,900 $279,000 1,033 6
102 Kingsgate Rd Detached $305,000 $312,000 1727 3
18903 Terry Ave Detached $339,000 $330,000 1236 65
13901 Sundeleaf Dr Detached $379,900 $354,900 1900 103
1615 Hallinan St Detached $349,900 $355,000 1500 4
1651 Larch St Detached $364,900 $369,900 2225 3
1720 Mapleleaf Rd Detached $369,000 $380,000 1584 2
1297 Hida A Way Ln Detached $367,500 $390,000 1832 3
14466 Holly Springs Rd Attached $425,000 $410,000 2238 9
17438 Cardinal Dr Detached $420,000 $420,000 2286 29
3140 Royce Way Detached $429,900 $430,000 1923 2
343 3rd St Attached $469,500 $487,000 1959 8
2491 Overlook Dr Detached $609,900 $567,000 3,250 173
320 Berwick Rd Detached $649,000 $649,000 2780 2
13430 Atwater Ln Detached $695,000 $665,000 3557 6
2479 Palisades Crest Dr Detached $799,999 $679,500 6640 510
1979 Country Club Rd Detached $750,000 $752,500 4115 61
2371 Palisades Crest Dr Detached $849,000 $849,000 4182 2
17282 Lake Haven Dr Detached $1,195,000 $985,000 3664 41
17152 Cedar Rd Detached $1,295,000 $1,100,000 3034 35

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