Tag: Lake Oswego Oregon

Posted on

Market Activity ~ Sept 17-23, 2012

Last week we ended with 15 New on the market, 22 Pending and 7 Sold.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Sept 17-23, 2012)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR #17 $125,000 2 2 1100 CONDO
668 MCVEY AVE #44 $139,000 1 1 636 CONDO
200 BURNHAM RD #105 $151,400 1 1 858 CONDO
2367 GLENMORRIE DR $275,000 2 2 2132 DETACHD
5099 GALEN ST $289,900 4 2.1 2246 DETACHD
15144 BOONES WAY $319,900 4 3.1 2330 DETACHD
1449 GREENTREE CIR $345,000 4 3 1696 DETACHD
6474 FROST ST $347,500 4 2.1 2216 DETACHD
6450 FROST ST $347,500 4 2.1 2216 DETACHD
16747 BONAIRE AVE $349,900 3 2 1610 DETACHD
39 TANGLEWOOD DR $435,000 4 3 3124 DETACHD
136 D AVE $439,000 2 2.1 1754 ATTACHD
310 IRON MOUNTAIN BLVD $1,295,000 4 3.2 3503 DETACHD
14460 UPLANDS DR $1,795,000 3 3.1 3703 DETACHD
693 TERRACE DR $1,998,000 3 3 3296 DETACHD

PENDING SALES (Sept 17-23,2012 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
204 RIDGEWAY RD $107,500 1 1 778 CONDO 230
40 OSWEGO SMT $119,900 2 2 1140 CONDO 82
225 CERVANTES $120,000 2 1.1 1216 CONDO 112
750 1ST ST #A8 $152,900 2 2 1350 CONDO 6
4 TOUCHSTONE #140 $168,000 3 2.1 1351 CONDO 75
5134 TREE ST $250,000 3 1.1 1405 DETACHD 19
2745 GREENTREE RD $259,900 2 2 1219 DETACHD 73
106 KINGSGATE RD $299,900 3 2.1 1669 DETACHD 4
14359 ORCHARD SPRINGS RD $349,900 4 2.1 1939 DETACHD 190
2955 WEMBLEY PARK RD $399,000 3 2.1 2620 DETACHD 26
1903 EGAN WAY $399,900 2 2.1 2280 DETACHD 64
14353 HOLLY SPRINGS RD $399,999 5 3 2238 CONDO 14
13899 MAJESTIC CT $405,000 3 2 2357 DETACHD 71
17121 WALL ST $424,900 4 2.1 2187 DETACHD 23
18123 WESTVIEW DR $449,800 3 2.1 2608 DETACHD 106
353 3RD ST $485,000 2 2.2 2044 ATTACHD 4
1148 LAKE SHORE RD $515,000 3 2 2404 DETACHD 2
4972 HAMPTON CT $539,000 5 3.1 3780 DETACHD 13
290 IRON MOUNTAIN BLVD $595,000 1 1 1432 DETACHD 8
1209 LAKE GARDEN CT $799,000 5 2.1 3428 DETACHD 49
17550 LAKE HAVEN DR $949,900 2 2.2 2580 DETACHD 35
17384 BERGIS FARM DR $995,000 5 4.1 5081 DETACHD 57

SOLD (Sept 17-23,2012)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #24 $51,500 $51,500 1 1 617 CONDO 54
4000 CARMAN DR #10 $119,900 $117,500 2 2 836 CONDO 8
170 OSWEGO SMT $149,900 $144,150 2 2 1506 CONDO 129
4513 OAKRIDGE RD Lot 30 $383,930 $369,900 3 2.1 1835 ATTACHD 123
72 CONDOLEA WAY $495,000 $395,000 3 2.1 2958 CONDO 189
5250 ROYAL OAKS DR $449,900 $435,000 4 2.1 2147 DETACHD 23
1024 NORTHSHORE RD $4,695,000 $3,850,000 5 5.1 7000 DETACHD 428

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

Posted on

News & Notes

August 2012
Here are some Market Notes for You~

According to the RMLS Market Action Report for the Portland Metro Area August 2012, “All measures of real estate activity are positive when comparing August 2012 with August 2011″:

  • “At 2311, closed sales reached the highest level for a single month period in five years”
  • 2311 represents an increase of 28% in closed sales over August 2011.
  • The average sale price year-to-date ($271,100) rose 2.7% over the same period last year,
  • ***AND… Total time on the market has dropped by 20.3% from 146 to 117 days.

For my Property Blotter readers, the combined area of Lake Oswego and West Linn reported:

  • 685 Active Listings
  • 210 New Listings
  • 131 Pending Sales
  • 149 Closed Sales
  • An average Sale Price of $470,000.
  • Average Time on the Market: 109 Days
Posted on

Market Activity Sept. 10-16, 2012

Last week in Lake Oswego there were 17 homes that came onto the market, 21 that went pending, and 9 closed sales.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Sept 10-16, 2012)

Address Type Price BR Bths SF
18409 Benfield Ave Detached $250,000 3 1.5 1400
446 5th St Condo $279,900 2 1.5 1092
106 Kingsgate Rd Detached $299,900 3 2.5 1669
4150 Upper Dr Detached $329,000 2 1.5 1738
4968 SW Suntree Ln Attached $330,000 2 2.5 1680
36 Aquinas St Detached $339,999 3 2 1606
13 Saint Hellens Cir Detached $345,000 3 2.5 2022
13455 Auburn Ct Attached $360,000 3 2.5 1892
1674 Fircrest Dr Detached $379,000 4 2 1998
1501 Koawood Dr Detached $395,000 4 3 2993
890 C Ave Detached $470,000 4 2 2596
6 Da Vinci St Detached $479,900 4 2.5 3378
353 3rd St Attached $485,000 2 2.5+.5 2044
444 10th St Detached $595,000 4 2 1876
290 Iron Mountain Blvd Detached $595,000 1 1 1432
1465 Morning Sky Ct Detached $899,500 5 3.5 4678
1560 Country Commons Detached $949,000 4 3.5 4379

PENDING SALES (Sept 10-16,2012 2012)

Address Type Price BR Baths SF DOM
668 McVey Ave #43 Condo $89,900 1 1 626 55
4 Touchstone #120 Condo $104,900 3 2.5 1351 28
4000 Carman Dr #85 Condo $124,500 2 2 834 10
19061 Redwing Ct Detached $249,900 3 2 1611 67
6325 Alyssa Terrace Attached $259,900 3 2.5 1485 69
4334 Woodside Circle Attached $269,900 3 2 1671 92
234 Greenridge Dr Attached $279,900 3 2 1492 11
236 Greenridge Dr Attached $289,900 3 2 1492 11
4 Del Prado St Detached $299,900 3 2.5 1716 26
15 Saint Helens Circle Detached $314,900 3 2 1528 78
14361 Sherbrook Pl Detached $419,900 3 2.5 2100 120
1267 Hide A Way Ln Detached $469,000 3 2.5 2300 41
762 Lake Forest Dr Detached $484,900 4 3 2567 160
2823 Glen Haven Rd Detached $499,000 4 2 3015 85
1580 Woodland Terr Detached $499,900 4 2.5 2127 185
17022 Crestview Dr Detached $499,900 4 3 3168 31
10 Sherwood Ct Detached $535,000 4 3.5 3289 10
5047 Woodcrest Ln 7 East Detached $679,336 4 3.5 3602 0
19395 Hilltop Rd Detached $875,000 4 3.5+.5 4911 217
16672 Fir Ln Detached $939,000 4 4.5 4179 67
2890 Glen Eagles Rd Detached $1,495,000 4 3.5 4587 17

SOLD (Sept 10-16,2012)

Address Type List Price Closed Price BR Baths CDOM
6351 Burma Rd Detached $230,000 $160,000 2 1 77
5276 Oakridge Rd Detached $274,900 $266,700 3 2 8
545 Hemlock St Detached $269,900 $276,500 3 $2 $2
875 Palisades Terrace Dr Detached $499,000 $349,900 4 3 564
5365 Lakeview Blvd Detached $419,000 $379,000 4 2.5 348
39 Spinosa Detached $449,000 $407,000 3 2.5 86
7 Mountain View Ln Detached $559,950 $488,000 5 2.5 151
775 F Ave Detached $595,000 $587,500 4 2.5 3
175 Berwick Rd Detached $1,495,000 $1,430,000 4 3.5+.5 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

Posted on

Open Houses 9/16/12

This Sunday is going to be a perfect day to go and see some nice homes. The weather is supposed to be sunny and mild, so enjoyable in every regard. There are 28 houses being held open, including Linda’s listing at 979 Devon Lane.

Linda’s listing has stunning views of the City and Mountains. It also has a truly unique floorplan that was custom built to take full advantage of the views. With 4 bedrooms and 3 1/2 baths, it is a tremendous value for $397,000. Linda will be there from 1 to 4pm. Stop by and say hello.

Address Type Price Baths BR Open
1041 Hemlock St Detached $299,900 4 3 1 to 3
13 Saint Helens Circle Detached $345,000 3 2.5 1 to 3
2593 Greentree Rd Detached $374,500 4 3 1 to 4
979 Devon Ln Detached $397,000 4 3.5 1 to 4
14722 Uplands Dr Detached $397,000 3 2 1:30 to 4
475 Country Club Ct Detached $419,000 3 2.5 1 to 4
1454 Glenmorrie Dr Detached $425,000 4 2.5 1 to 3
16439 Lexington Ct Detached $449,000 2 2 1 to 4
31 Touchstone Detached $479,000 5 3 1 to 3
29 Spinosa Detached $489,000 3 2.5+.5 1 to 4
17802 Treetop Ln Detached $529,000 4 3.5 12 to 2
17357 Oak Meadow Ln Detached $535,000 4 2.5 1 to 3
17561 Shepherds Ct Detached $550,000 4 2.5 1 to 4
15655 Fieldstone Dr Detached $589,500 4 2.5 12 to 2
5533 Fieldstone Ct Detached $599,500 4 2.5 12 to 2
18160 Delenka Ln Detached $609,500 4 3 1 to 3
18096 Pilkington Rd Detached $625,000 3 2.5 1 to 3
135 Middlecrest Rd Detached $699,900 3 2.5 1 to 3
1985 Country Club Rd Detached $699,999 5 4 2 to 4
568 9th St Detached $799,900 3 3.5 1 to 4
582 9th St Detached $799,900 3 3.5 1 to 4
828 8th St Detached $825,000 3 3.5 1 to 4
16805 Scott Ct Detached $892,000 3 3.5 1:30 to 3:30
8 Dover Way Detached $975,000 6 4.5+.5 2 to 4
18202 Bella Terra Dr Detached $1,039,500 4 3.5 12 to 2
2092 Summit Dr Detached $1,295,000 4 4.5 1 to 3
16743 Graef Circle Detached $1,595,000 4 3.5 2:30 to 4;30
112 Northshore Circle Detached $1,625,000 4 3.5 11 to 4
Posted on

Realtor with a Capital “R”

The State of Oregon requires Realtors to take 30 hours of very specific continuing education to be re-licensed every two years. And the National Association of Realtors requires that every four years Realtors must take a class on the Realtor Code of Ethics.

I’ve taken this class quite a few times. There is very little variation. To be a Realtor, that is with a capital “R”, a licensee must adhere to the Code of Ethics. I belong to one of the very few vocations that actually has a code of ethics. I think it goes without saying that it shouldn’t be necessary, but it is. And I am very proud of my profession that we have taken this position to maintain fair dealings and integrity.

Oregon has a pretty interesting history on this front. Oregon was the very first state in the United States to adopt a code of ethics on July 29th, 1913. So it isn’t just the bottle bill with which we have led the Nation.

The code has 17 Articles that stipulate fair dealings with fellow Realtors, with the our clients, and with the public. Each local real estate board is charged with enforcing the code of ethics. Yes, Realtors are held accountable.

Think about it, real estate involves the most important financial dealings that most people make within their lives. It must be handled with ethics.

My favorite part of the Code of Ethics is the preamble. I’d like to share with you just a sample:

“Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. Realtors should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.”

And that is just the beginning. It is a beautifully written document and a standard that I am proud of in my profession.

Dianne

Posted on

Market Activity ~ Sept 3-9, 2012

Last week we ended with 16 New on the market, 14 Pending and 11 Sold.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Sept 3-9, 2012)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR #85 $124,500 2 2 834 CONDO
45 EAGLE CREST DR #405 $169,900 2 1.1 1056 CONDO
234 GREENRIDGE DR $279,900 3 2 1492 ATTACHD
668 McVey #72 $279,900 3 1.1 1184 CONDO
232 GREENRIDGE DR $285,000 3 2 1492 ATTACHD
236 GREENRIDGE DR $289,900 3 2 1492 ATTACHD
454 5TH ST $315,000 2 1.1 1092 ATTACHD
959 SW LEE ST $395,500 3 2 2340 DETACHD
14353 HOLLY SPRINGS RD $399,999 5 3 2238 CONDO
4231 SUNSET DR $437,500 3 2 2852 DETACHD
530 BOCA RATAN DR $469,000 4 0.3 3368 DETACHD
10 SHERWOOD CT $535,000 4 3.1 3289 DETACHD
4972 HAMPTON CT $539,000 5 3.1 3780 DETACHD
2322 STONEHURST CT $599,000 4 2.1 3602 DETACHD
17255 BLUE HERON RD $1,125,000 3 2.1 2926 DETACHD
1217 LAKE FRONT RD $1,350,000 3 2.1 2628 DETACHD

PENDING SALES (Sept 3-9,2012 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
92 CERVANTES CIR #11E $104,900 2 1.1 912 CONDO 15
4968 OAKRIDGE RD $185,000 3 1.1 1240 DETACHD 34
1127 CEDAR ST $229,500 2 1 1070 DETACHD 358
2167 WEMBLEY PARK RD $239,000 5 2 2680 DETACHD 6
5134 TREE ST $250,000 3 1.1 1405 DETACHD 2
16155 KIMBALL ST $289,000 3 1 1488 DETACHD 69
4582 TRILLIUM WOODS $369,900 3 2.1 1835 ATTACHD 136
14190 TAYLORS CREST LN $389,900 4 2.1 2577 DETACHD 20
17975 RIDGE LAKE DR $497,900 4 2.1 2727 DETACHD 15
361 BERWICK RD $679,000 4 3 2859 DETACHD 4
135 MIDDLECREST RD $699,900 3 2.1 2882 DETACHD 58
5680 LA MESA CT $719,900 4 3.1 3440 DETACHD 114
330 NORTHSHORE RD $749,000 4 3 3324 DETACHD 113
670 IRON MOUNTAIN BLVD $805,100 4 3.2 5421 DETACHD 186

SOLD (Sept 3-9,2012)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
45 EAGLE CREST DR #514 $199,000 $160,000 1 1.1 1046 CONDO 277
8 WHEATHERSTONE $229,950 $210,000 3 2.1 1692 ATTACHD 74
15703 Boones WAY $349,000 $322,000 3 2.1 2180 DETACHD 55
4522 TRILLIUM WOODS Lot24 $388,990 $369,900 3 2.1 1835 ATTACHD 123
12 MORNINGVIEW LN $420,000 $396,000 3 2.1 2683 ATTACHD 44
2376 FERNWOOD CIR $489,000 $441,500 4 2 2094 DETACHD 9
1837 CEDAR CT $499,900 $449,900 5 3 2840 DETACHD 547
491 COUNTRY CLUB RD $559,000 $460,000 3 2 2486 DETACHD 486
16018 PARKER RD $589,900 $465,675 5 3.2 3204 DETACHD 62
1176 TROON RD $784,900 $760,000 3 2 3022 DETACHD 6
5112 WOODCREST LN #7 East $661,245 $760,091 4 4.1 3340 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

Posted on

Open Houses ~ Sept 9, 2012

Happy “Open House Sunday” to you!
I’ll be at 979 Devon Lane fom 1 till 4PM. Stop by and say hello! We can relax on the veranda together : )

Address L/Price # Beds # Baths Total SF Style Open
4334 WOODSIDE CIR $269,900 3 2 1671 1STORY 1-3PM
4231 WOODSIDE CIR $289,500 3 2 1943 TOWNHSE 1:30-3:30PM
2593 GREENTREE RD $374,500 4 3 2211 TRI 11AM-1:30PM
979 DEVON LN $397,000 4 3.1 2162 CONTEMP 1-4PM
13899 MAJESTIC CT $405,000 3 2 2357 CONTEMP 2-4PM
29 PARTRIDGE LN $419,900 3 2.1 3109 2STORY 12-3PM
16439 LEXINGTON CT $449,000 2 2 1563 RANCH 1-4PM
323 3RD ST $465,000 3 3.1 1959 TOWNHSE 1-3PM
29 SPINOSA $489,000 3 2.2 3254 CONTEMP 1-4PM
84 BERWICK RD $549,000 5 3 3305 CONTEMP 2-5PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 TRAD 12-2PM
14136 HEATHROW LN $599,000 4 2.1 2955 TRAD 1-3PM
5533 FIELDSTONE CT $599,500 4 2.1 3115 TRAD 12-2PM
18345 HEATHER ANN CT $649,900 4 2.1 3336 TRAD 1-3PM
2300 CHILDS RD $772,000 4 2 3183 FARMHSE 1-4PM
1209 LAKE GARDEN CT $799,000 5 2.1 3428 COLONIL 1-3PM
16805 SCOTT CT $889,000 3 3.1 4321 CUSTOM 1:30-3PM
17775 KELOK RD $949,500 4 2.1 2882 CONTEMP 1-3PM
18202 BELLA TERRA DR $1,039,500 4 3.1 3863 TRAD 2-4PM
1217 LAKE FRONT RD $1,350,000 3 2.1 2628 BUNGALO 1-3PM
112 NORTHSHORE CIR $1,625,000 4 3.1 3632 TRAD 11AM-4PM
Posted on

News & Notes

Hello from the Property Blotter!
Ok, here’s the news of the week….. It’s hot and sunny in Lake Oswego, and Dianne and I are busy selling real estate! : )
Just leaving you with an image of Lake Oswego Tomatoes for now, and encouraging you to enjoy your own harvests! Ours are overflowing here…. Tomato recipes are welcome in comments from our readers below!

Posted on

Market Activity Aug 27-Sept 2

Last week brought 16 New Listings to Lake Oswego, 21 Pending Sales, and Closed Sales.
See below for further details on last week’s Market Activity:

NEWLY LISTED (August 27 to September 2, 2012)

Address Type Price BR Bths SF
4 Touchstone #74 condo $158,000 3 2.5 1351
5785 Carman Dr detached $265,000 5 2.5 1934
466 5th ST #14 condo $299,900 2 1.5 1092
5745 Windfield Loop detached $369,000 3 2.5 1950
1935 Fernwood Dr detached $409,000 4 3 2100
5499 Royal Oaks Dr detached $409,900 3 2 1780
17121 Wall St detached $424,900 4 2.5 2187
2215 Fernwood Circle detached $438,950 4 3 2640
9 Spinosa detached $439,000 2 2.5 2250
323 3rd St attached $465,000 3 3.5 1959
12430 Orchard Hill Rd detached $625,000 3 3 2889
3197 Alber Spring Ct detached $649,900 4 2.5 3664
14527 Pfeifer Way detached $689,000 4 3.5 3803
8 Dover Way detached $975,000 6 4.5+.5 6244
2057 Summit Dr detached $1,095,000 4 3.5 4589

PENDING SALES (Auguest 27-September 2,2012 2012)

Address Type Price BR Baths SF DOM
100 Kerr Pkwy #24 condo $51,500 1 1 617 54
526 State St condo $119,000 2 1 914 29
181 Oswego Summit condo $149,900 2 2 1383 3
3858 Botticelli attached $182,500 3 2 1224 95
113 Touchstone Terr. attached $238,698 2 2.5 2104 327
5276 Oakridge Rd detached $274,900 3 2 1600 8
4270 Oakridge Rd detached $275,000 2 1 978 55
868 7th St detached $329,900 4 2 2270 8
4970 Suntree Ln detached $350,000 3 2 1769 8
19044 Olson Ave detached $429,000 4 4 3264 32
4909 Mulholland Dr attached $430,000 2 2.5 2403 8
17336 Hunter Ct detached $454,900 3 2.5 3004 14
2376 Fernwood Cir detached $489,000 4 2 2094 9
2 Buckingham Terr detached $519,000 4 3 3732 27
837 C Ave detached $569,000 2 2 2109 7
629 Iron Mountain Blvd detached $599,500 3 2 1966 160
1099 Troon Rd detached $899,000 4 3.5 3938 22
2180 Prestwick Rd detached $1,200,000 3 1.5 2391 21
2058 Summit Dr detached $1,390,000 3 2.5 3137 18
758 Southview Rd detached $3,450,000 5 5.5 5179 201
1024 Northshore Rd detached $4,695,000 5 5.5 7000 428

SOLD (August 27-September 2,2012)

Address Type List Price Closed Price BR Baths CDOM
203 Cervantes condo $119,900 $108,000 2 2 87
510 State ST condo $126,900 $125,710 1 1 7
15220 Boones Way 1C condo $139,900 $135,000 2 2 6
17684 Schalit Way detached $225,000 $210,000 3 1.5 6
4242 Woodside Cir attached $309,000 $288,000 3 2 33
17083 Fernwood Dr detached $389,900 $315,000 5 3 177
17200 Robb Pl detached $385,000 $395,000 3 2.5 4
12 Morningview Cir detached $425,000 $397,500 4 2.5 135
143 Furnace St condo $530,000 $490,000 2 2.5 30
5752 Victoria Ct detached $549,000 $537,500 3 2.5 23
1928 Palisades Terr detached $575,000 $575,000 4 5.5 91
217 5th St detached $699,000 $630,000 3 2.5 121
16737 Sylvan Ct detached $795,000 $750,000 4 3 329
15575 Village Dr detached $895,000 $875,000 4 2.5 18
13795 Cameo Ct detached $1,449,000 $1,350,000 4 5.5+.5 259
1345 Cherry Ln detached $1,599,000 $1,450,000 5 3.5 10
17700 Upper Cherry Ln detached $2,495,000 $1,925,000 5 5.5 724

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

Posted on

Analysis of the Higher Price Ranges

I think that there is a general perception that the market has picked up a bit of steam. I have personally seen this in multiple offer situations and short market times. But I have to say that I’ve seen it in the more affordable price ranges.

I did have a sale recently for a $625,000 house that sold in 1 day with multiple offers. But I found myself wondering, was that a fluke? Is that really happening in the higher price ranges? So I took some time today to compare the more expensive homes (purely arbitrarily I chose $500,000 and higher) today versus what was happening a year ago in the same 6-month time period. Here are the results:

Price Range Sold 2/11-8/11 Active Today Pending Today Sold 2/12-8/12 Current Months of Inventory
$500,000-$600,000 29 36 17 53 4
$600,000-$700,000 25 32 3 27 7
$700,000-$800,000 23 35 7 17 12
$800,000-$900,000 17 18 4 18 6
$900,000-$1,000,000 9 18 2 11 9
$1,000,000-$1,500,000 19 38 6 15 15
$1,500,000-$3,000,000 3 22 4 5 26
$3,000,000-$20,000,000 0 11 2 1 55

Pretty interesting. The $500,000 to $600,000 is selling strongly. So is the $800,000 to $900,000. 4 to 6 months of inventory is a pretty healthy market. Pricing over a million is where it really hits the skids. And that way tip-top price point of $3,000,000 and more is barely moving. This is when we look at the closed sales. But then when you factor in the pending sales, and there are several, it looks a bit better. When the pending sales in the top price bracket close, and this should happen in 45-60 days, the inventory drops from 55 months to 22 months. In the $1,500,000 to $3,000,000 it drops the inventory from 26 months to 14.

Bottom line, it’s still too soon to tell. And it can still be said that the higher priced homes just take longer to sell as there are fewer people financially qualified to buy them.

So what are these high priced houses like?

The most expensive, recently-closed sale was a house on the Willamette River. It sold for $3,600,000 and went pending in just 33 days (seriously!).

The most expensive pending sale is on the North shore of Oswego Lake. Priced at $4,695,000, it took 428 days to receive an accepted offer.

The most expensive house currently for sale is NOT Jantzen Island. That house has been withdrawn from the market. It was price reduced from $19,500,000 to $15,000,000. The new king of the most-expensive- house-fo-sale-in-Lake-Oswego-pageant is a house on Northshore that is listed for $11,600,000. It was built in 2009 and has 13,462 square feet, 5 bedrooms, 6 full baths and 2 half baths.

I hope you find this information of interest. It’s always a kick to try and figure out the market and its trends. Let me know if you have any questions.
Dianne