Tag: Lake Oswego real estate

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News & Notes ~ June 2020 Numbers

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

Inventory has dropped in June.  They all got snatched up in May!  ; )  Seriously, look at the 38% rise in June Closed sales over May. We are seeing a housing shortage in the overall Portland area and it is reflected in Buyers experiencing lots of multiple-offer situations and overall competition over properties that are in good shape and priced well. Sellers are noticing this trend and continuing to list properties for sale. I’m anticipating an extended busy period this summer after some pent-up COVID-inspired “waiting” from earlier in the spring that is spilling into the post-4th of July time period which is usually a bit slower.

My trusted Mortgage Advisors tell me: Rates are at historic lows hovering around 3% and lower in some circumstances.

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

  • There were 3,658  New Listings in June 2020 which decreased 14.6%  from June of 2019’s 4,281, and/but increased 7% over the previous month/May’s 3,419.
  • At 2,709, June 2020’s Closed Sales are down slightly at 1.7% from June 2019’s 2,756, and are up a whopping 38% from the previous month/May 2020’s total of 1,963
  • At 3,654, June 2020’s Pending Sales are up 18.5% from June 2019’s 3,083, and also up 17.4% from the previous month/May 2020’s total of 3,112.
  • The Average Sale Price in June 2020 of $479,700 is up $7,000 from last year/June 2019’s $472,700, and is also up $12,200 from the previous month/May 2020’s $467,500.   YTD increase is 2.6%.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in June 2020 of $435,000 rose from last year/June 2019’s $420,000 by $15,000, and is up by $10,000 from the previous month/May 2020’s $425,000.   YTD increase is 3.9%.

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

  • North Portland:  $447,500              3.0%   (May $442,900 )
    •                                                     YTD Median: $421,800
  • NE Portland:  $486,200                   3.0%   (May $479,900)
    •                                                     YTD Median: $431,700
  • SE Portland:  $462,800                   2.1%   (May $448,300  )
    •                                                     YTD Median: $390,000
  • Gresham/Troutdale:   $383,000     1.8%   (May $358,800)
    •                                                     YTD Median: $361,000
  • Milwaukie/Clackamas:  $479,600  3.7%   (May $435,200)
    •                                                     YTD Median: $433,000
  • Oregon City/Canby:   $447,300      2.9%   (May $454,500)
    •                                                     YTD Median: $435,000
  • Lake Oswego/West Linn:$721,800  3.9%  (May $698,500)
    •                                                      YTD Median: $605,400
  • West Portland:    $609,400             -0.9%  (May $616,200)
    •                                                     YTD Median: $540,000
  • NW Wash County:  $585,000          2.2%   (May $520,400)
    •                                                      YTD Median: $506,800
  • Beaverton/Aloha:     $417,500       3.2%   (May $407,800)
    •                                                     YTD Median: $410,000
  • Tigard/Wilsonville:   $504,400        3.7%   (May $502,400)
    •                                                      YTD Median: $465,000
  • Hillsboro/Forest Grove: $433,100  5.7%   (May $422,100)
    •                                                      YTD Median: $400,000

LAKE OSWEGO:

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

    •  315 Active Listings (May 324)
    •  216 New Listings     (May 209)
    •  196 Pending Sales   (May 169)
    •  135 Closed Sales       (May  92)
    • Average Sale Price for May: $721,800  (May $698,500)
      • 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.
    •  54 Average Days on the Market   (May 59)

 

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Market Activity ~ July 6-12, 2020

Last week in Lake Oswego there were 19 New listings, 26 properties that went into Pending status, and 20 Closed sales.  There are currently 233 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (July 6-12, 2020)

Address List Price # Beds # Baths Prop Type Total SF
4000 CARMAN DR, C39 $229,000 2 2 CONDO 866
207 OSWEGO SMT #207 $289,000 2 1.1 CONDO 1506
12844 BOONES FERRY RD / Grnd $409,900 2 2.1 CONDO 1177
7 SUMMIT RIDGE CT $449,000 2 2.1 ATTACHD 1704
200 BURNHAM RD #311 $599,000 3 2 CONDO 1894
4890 INDIAN CREEK CT $699,000 3 2 DETACHD 2064
16969 ALDER CIR $729,000 3 2 DETACHD 1676
3102 DUNCAN DR $785,000 4 3.1 DETACHD 3910
15677 FIELDSTONE DR $798,950 3 2.1 DETACHD 2527
2782 TOLKIEN LN $799,000 4 3.1 DETACHD 3207
12986 KNAUS RD $1,249,000 5 4 DETACHD 3242
2126 WEMBLEY PL $1,425,000 4 3.1 DETACHD 3531
14190 SUNDELEAF DR $1,459,900 5 4 DETACHD 3688
12812 ALTO PARK RD $1,500,000 4 3.1 DETACHD 4040
3244 UPPER DR $1,575,000 5 4.1 DETACHD 3730
1225 OAK TER $1,600,000 5 4 DETACHD 3771
883 8th ST $1,699,000 5 4.1 DETACHD 4546
16865 GREENBRIER RD $2,595,000 5 5 DETACHD 6404
16649 MAPLE CIR $3,095,000 4 3 DETACHD 2714

Pending Sales (July 6-12, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
104 OSWEGO SMT / Grnd $195,000 1 1 943 CONDO 12
59 OSWEGO SMT / Upper $237,900 2 2 1140 CONDO 59
4626 LOWER DR / Main $239,000 2 1.1 1260 CONDO 57
82 OSWEGO SMT / Upper $239,000 2 2 1212 CONDO 14
4000 CARMAN DR #31 $245,000 3 2 993 CONDO 184
6301 ALYSSA TER $400,000 3 2.1 1546 ATTACHD 4
5881 FERNBROOK CIR $419,000 4 1 1416 DETACHD 2
76 KINGSGATE RD $434,900 2 2 1201 ATTACHD 6
121 WILBUR ST $537,500 3 2 1631 CONDO 117
6221 NOKOMIS CT $565,000 3 2 1870 DETACHD 1
19101 REDWING CT $629,000 3 2 1434 DETACHD 5
4260 CHAPMAN WAY $630,000 4 3 2301 DETACHD 16
4962 HARVARD CT $649,900 4 2.1 2522 DETACHD 24
28 WESTRIDGE DR $724,900 4 2.1 2580 DETACHD 4
1069 TIMBERLINE DR $725,000 4 3 2173 DETACHD 7
5 WESTMINSTER DR $729,900 5 3 3104 DETACHD 97
14321 CAMDEN LN $759,900 4 2.1 2553 DETACHD 3
17610 WESTVIEW DR $839,900 5 3 2924 DETACHD 2
4991 HARTFORD PL $859,950 3 3.1 3098 DETACHD 5
24 DEL PRADO ST $969,000 5 3.1 3357 DETACHD 22
5996 SUNCREEK DR $995,000 4 3 3596 DETACHD 2
3938 EDENS EDGE DR $1,199,990 4 3.1 3882 DETACHD 18
749 SOUTHVIEW RD $1,325,000 4 3.1 3123 DETACHD 36
2130 WEMBLEY PL $1,395,000 4 3.1 3651 DETACHD 442
18218 MEADOWLARK LN $1,499,000 5 6.1 8320 DETACHD 397
4660 UPPER DR $1,695,000 5 3.1 3898 DETACHD 209

Sold/Closed (July 6-12, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
9 OSWEGO SMT $180,000 $165,000 1 1 764 CONDO 181
209 OSWEGO SMT / Upper $250,000 $250,000 2 2 1383 CONDO 2
120 KINGSGATE RD $519,800 $512,000 3 2.1 1699 DETACHD 15
1032 LAUREL ST $609,900 $595,000 4 2 2426 DETACHD 109
6438 Frost ST $625,000 $610,000 4 2.1 2269 DETACHD 39
17410 WREN CT $749,900 $750,000 3 2.1 2550 DETACHD 4
173 FURNACE ST / Upper $819,900 $775,000 2 2.1 2090 CONDO 18
1338 TIMBERLINE DR $874,900 $810,000 3 3 3754 DETACHD 6
19681 PERCH CT $923,000 $820,000 4 3 3307 DETACHD 82
4360 UPPER DR $915,000 $895,000 3 2.1 2613 DETACHD 13
18483 RAY RIDGE DR $925,000 $900,000 3 2.1 3245 DETACHD 9
2575 PALISADES CREST DR $1,250,000 $975,000 4 4.1 5251 DETACHD 82
1267 MAPLE ST $1,098,000 $1,050,000 4 2.1 3388 DETACHD 56
1225 LAKE GARDEN CT $1,295,000 $1,162,500 4 3.2 3558 DETACHD 38
749 7TH ST $1,385,000 $1,350,000 4 3.1 4651 DETACHD 28
839 F AVE $1,450,000 $1,358,725 4 3.1 3780 DETACHD 109
475 IRON MOUNTAIN BLVD $1,379,000 $1,390,000 4 2.2 3254 DETACHD 2
3040 STONEBRIDGE WAY $1,590,000 $1,450,000 4 4.1 5829 DETACHD 100
17435 WREN CT $1,750,000 $1,668,000 4 3 2960 DETACHD 443
4245 WEST BAY RD $2,350,000 $2,250,000 4 3.1 2958 DETACHD 8

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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Real Estate in a Pandemic

Having been a licensed Oregon Realtor since 1987, I kinda thought I’d seen it all, but then what do you know? A Pandemic happens. I had no idea what to expect. I think mostly I was worried. How do you sell houses in a pandemic? Well, I’ve been pleasantly surprised. The market is booming.

As I pointed out in this week’s market activity report, out of 20 closed sales last week, 6 sold OVER the asking price and 4 sold AT the asking price. That’s 50% of what sold. Then look at the fact that 13 properties went on the market and 31 went pending. That is a classic scenario of supply not meeting demand. This creates bidding and competitive buying.

In this environment, how do Realtors keep everyone safe? Everyone is paying attention. National Association of Realtors, the Oregon Association of Realtors, and my company, Oregon First, have all given pretty strict protocols. At a minimum everyone must wear masks and socially distance. The next step is to talk to our clients. Find out their concerns and what their preferences are. If a person has health issues that put them at higher risk, we can take the procedures further. This includes wearing gloves, wiping down surfaces, having the listing agent meet Realtors with their clients at the front door and give instructions that they may not touch anything. If they want to see inside a cupboard, ask and the listing agent will open the cupboard. I showed a house on Sunday in which my clients and I did not touch one single surface or knob. It went smoothly.

I am asking my clients to wear masks but then I am also providing single use plastic gloves. I put them out at the entrance to my listings and I carry them in my car for my buyers. It is one pair for each house so that we don’t cross contaminate between properties. I felt pretty lucky when I found 2000 pairs for about 40 bucks. I am prepared!

I also provide booties to cover shoes. However, I don’t make them keep the booties on going up stairs that are not carpeted. Those booties can be slippery on stairs.

What I am not doing is sharing my car with my clients or holding open houses.

I really want to assure you that Realtors are working very hard to keep everyone safe in a time when the demand for housing is so high. There may be a pandemic but it’s a great time to buy or sell a house.

As always, thanks for reading the blotter,
Dianne

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Market Activity June 28-July 5, 2020

Our real estate market is pretty much booming right now. Out of the 20 closed sales last week, 6 sold for over the asking price and 4 sold at the asking price. That’s 50% of what sold. There is a huge demand and low inventory. Yes, it’s a great time to sell your house. In addition to the 20 closed sales, last week in Lake Oswego there were 13 new listings and 31 pending sales.

Following is the breakdown for you according to RMLS:

New on the Market (June 28-July 5, 2020)

Address Type Price BR Baths Sq Ft
16200 S Pacific Hwy #23 Condo $359,000 2 2 1208
37 Greenridge Ct Condo $399,000 2 1.5 1176
4963 Suntree Ln Detached $549,900 2 2.5 1861
12 Mozarteum Ct Detached $659,000 2 2.5 1861
1069 Timberline Dr Detached $725,000 4 3 2173
4991 Hartford Pl Detached $859,950 3 3.5 3098
44 Touchstone Detached $975,000 5 3 2507
0 Childs Ct Detached $$958,000-$988,000 3 2.5 2445
860 Skyland Dr Detached $1,320,000 4 3 3527
4150 Upper Dr Detached $1,425,000 4 3.5 3466
17322 Cedar Rd Detached $1,950,000 4 4 3432
310 Iron Mountain Blvd Detached $2,150,000 5 3.5 4927
4357 Southshore Blvd Detached $2,995,000 5 5.5 5220

Pending Sales (June 28-July 5, 2020)

Address Type Price BR Baths Sq Ft CDOM
86 Kingsgate Rd C-120 Condo $225,000 2 2 924 3
16250 Pacific Hwy #81 Condo $240,000 1 1 841 43
4061 Jefferson Pksy Attached $285,000 2 2.5 1462 105
6397 McEwan Rd Detached $439,900 3 2 1008 3
1400 Laburnum Way Detached $475,000 4 3 2106 2
17635 Deemar Way Detached $489,900 4 2 1488 201
1023 Hallinan St Detached $495,000 3 1.5 1092 4
16200 Pacific Hwy #7 Condo $495,000 2 2 1190 29
6430 McEwan Rd Detached $536,000 6 2 1595 108
44 Aquinas St Detached $550,000 4 2 1914 4
13 Grouse Terr Detached $565,000 4 2.5 2108 1
6151 Carman Dr Detached $589,700 3 2 1641 81
2745 Greentree Rd Detached $598,500 2 2 1219 0
6280 Summer Woods Detached $610,000 4 2.5 2191 112
71 Tanglewood Dr Detached $625,000 3 3 2616 18
1575 Ivy Ct Detached $640,000 4 3 2432 3
17721 Overlook Circle Detached $649,900 3 2.5 3172 231
17270 Canyon Dr Detached $674,900 4 3 2754 5
17520 Redfern Ave Detached $692,000 2 2 1776 22
521 2nd St #104 Condo $700,000 2 2 1339 4
1010 Laurel St Detached $799,900 3 3 2498 15
17867 Sundown Ct Detached $799,900 3 3.5 2763 128
830 4th St Detached $799,900 3 2 1890 0
5608 Grand Oaks Dr Detached $879,000 5 3 3129 2
2655 Dellwood Dr Detached $915,000 4 2.5 3164 7
285 Berwick Rd Detached $950,000 3 3.5 2518 111
1658 Village Park Ln Detached $1,198,000 4 3.5+.5 4634 97
540 8th St Detached $1,289,000 4 3.5 2920 2
17036 Canal Circle Detached $1,650,000 4 3.5 3931 386
18099 Green Bluff Dr Detached $1,695,000 4 3.5 5343 43
1098 Chandler Rd Detached $1,995,000 4 3.5 3934 12

Sold/Closed (June 28-July 5, 2020)

Address Type List Price Sold Price Sq Ft CDOM
4646 Lower Dr Condo $275,000 $280,000 1260 8
2101 Wembley Park Rd Detached $320,000 $459,000 3,410 2
5215 Madrona St Detached $479,900 $500,000 1325 4
6025 Kenny St Detached $489,000 $520,000 1254 2
22 Morningview Circle Detached $562,500 $546,500 3438 18
5465 Childs Rd Detached $589,900 $590,000 1487 18
34 Morningview Circle Detached $662,900 $597,325 2942 152
184 D Ave Attached $665,000 $635,000 1636 37
659 Livingood Ln Detached $639,000 $639,000 2400 0
16251 Reese Rd Detached $745,000 $743,000 2555 21
4208 Albert Circle Detached $790,000 $790,000 2777 11
14003 Chelsea Dr Detached $895,000 $895,000 3270 2
16368 Lake Forest Blvd Detached $979,000 $915,000 2750 101
950 Cedar St Detached $1,079,000 $1,025,000 3266 79
4190 chapman Way Detached $1,298,000 $1,185,000 3624 67
2445 Glenmorrie Dr Detached $1,385,000 $1,250,000 5168 98
4484 West Bay Rd Detached $1,250,000 $1,270,000 4417 53
748 6th St Detached $1,425,000 $1,425,000 2865 151
1646 Leslie Ln Detached $1,868,000 $1,720,000 4879 28
18420 Old River Landing Detached $2,890,000 $2,600,000 6164 73

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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Market Activity ~ June 22-28, 2020

Last week in Lake Oswego there were 21 New listings, 27 properties that went into Pending status, and 14 Closed sales.  There are currently 212 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (June 22-28, 2020)

Address List Price # Beds # Baths Total SF Prop Type
104 OSWEGO SMT /Grnd $195,000 1 1 943 CONDO
3930 LAKE GROVE AVE #3A $210,800 2 1 956 CONDO
4 TOUCHSTONE #81 $224,950 3 2.1 1350 CONDO
82 OSWEGO SMT / Upper $239,000 2 2 1212 CONDO
200 BURNHAM RD #303 $257,000 2 1 1200 CONDO
4260 CHAPMAN WAY $630,000 4 3 2301 DETACHD
4403 OAKRIDGE RD $760,000 3 2.1 2052 ATTACHD
19398 RIVER RUN DR $799,900 4 3 2790 DETACHD
1953 SUMMIT DR $889,000 4 3 3312 DETACHD
14360 TRILLIUM CT $927,000 5 3 3558 DETACHD
15371 TWIN FIR RD $1,050,000 4 2.1 2876 DETACHD
2085 RIDGE POINTE DR $1,199,000 5 4.2 6575 DETACHD
17281 LOWENBERG TER $1,225,000 4 3.1 3792 DETACHD
900 FAIRWAY RD $1,295,000 5 3.1 3508 DETACHD
14480 KRUSE OAKS BLVD $1,325,000 4 3.1 4661 DETACHD
827 8TH ST $1,549,900 5 3.1 3852 DETACHD
3109 DOUGLAS CIR $1,950,000 5 4.2 4880 DETACHD
1217 Lake Front RD $2,195,000 3 2.1 2628 DETACHD
17253 KELOK RD $2,659,000 5 4.1 4429 DETACHD
757 LAKE SHORE RD $3,089,000 4 3.1 4098 DETACHD
3214 LAKEVIEW BLVD $4,500,000 4 5 5922 DETACHD

Pending Sales (June 22-28, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #2 $170,000 2 2 822 CONDO 9
4 TOUCHSTONE #71 $198,000 2 2 984 CONDO 49
44 EAGLE CREST DR #41 $224,900 2 1 908 CONDO 30
200 BURNHAM RD #304 $329,000 2 2 1305 CONDO 25
5225 JEAN RD #304 $329,500 3 2 1400 CONDO 23
4324 BOTTICELLI ST $339,000 2 2.1 2260 CONDO 89
1373 BONNIEBRAE DR $370,000 3 2 1477 ATTACHD 3
4386 THUNDER VISTA LN $399,900 2 2.1 1980 CONDO 41
111 TOUCHSTONE TER $420,000 2 2 1341 ATTACHD 16
5071 TUALATA LN $449,000 3 2 1540 DETACHD 5
16111 LINDSAY CT $558,000 3 2.1 1840 DETACHD 34
13188 VERMEER DR $589,000 3 2.1 1862 DETACHD 6
21 BECKET ST $629,900 4 2.1 3070 DETACHD 93
1100 OAK TER $635,000 4 2 1518 DETACHD 40
125 FURNACE ST #125 $799,000 2 2.1 1927 CONDO 78
17502 ERIN CT $799,900 4 3 3014 DETACHD 13
2201 OVERLOOK DR $825,000 4 2.1 3360 DETACHD 3
13751 CAMEO CT $990,000 5 4 3350 DETACHD 97
815 OAK ST $1,035,000 4 3.1 3836 DETACHD 6
14260 UPLANDS DR $1,284,000 4 3 2831 DETACHD 5
18026 SKYLAND CIR $1,399,000 5 3.1 4117 DETACHD 102
18965 Pilkington RD $1,439,000 4 3 3926 DETACHD 19
157 6TH ST $1,498,000 4 3.1 3614 DETACHD 953
17435 WREN CT $1,699,000 4 3 2960 DETACHD 443
16645 GRAEF CIR $1,825,000 4 3.2 3187 DETACHD 16
17537 CARDINAL DR $1,880,000 5 4 5383 DETACHD 137
3124 LAKEVIEW BLVD $2,950,000 5 4 3825 DETACHD 16

Sold/Closed (June 22-28, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
3918 CARMAN DR $299,900 $298,150 2 2.1 1107 CONDO 77
200 BURNHAM RD #205 $320,000 $310,000 2 2 1305 CONDO 10
16675 BONAIRE AVE $450,000 $450,000 3 1 1020 DETACHD 40
59 TOUCHSTONE $450,000 $527,000 4 3 2924 DETACHD 4
16229 Lake Forest BLVD $549,900 $535,000 4 3 2094 DETACHD 26
19026 ARROWWOOD AVE $572,000 $578,900 3 2 1850 DETACHD 3
3 GARIBALDI ST $749,900 $675,000 3 3 3137 DETACHD 153
1771 CAMPUS WAY $668,000 $678,000 3 3 3247 DETACHD 3
6351 BURMA RD $829,000 $820,000 4 4 3500 DETACHD 196
5364 LANGFORD LN $869,000 $869,000 4 2.1 3022 DETACHD 25
5680 LA MESA CT $975,000 $975,000 5 3.1 3405 DETACHD 3
1 DOVER WAY $975,000 $1,075,000 4 3 3559 DETACHD 1
671 5TH ST $1,285,000 $1,280,000 4 2.1 2781 DETACHD 20
16895 CHAPIN WAY $1,495,000 $1,300,000 4 3.2 5182 DETACHD 304

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 Rural Property

Seen here is a dug out open septic tank being pumped out. All the required tools are laying in the yard.
I seem to be on a bit of a roll selling houses on acreage lately. This is prompting me to write a post about how buying rural land is different from buying houses within the city limits. And, yes, this does apply to Lake Oswego houses.

All around the edges of the City of Lake Oswego, the neighborhoods have grown to absorb rural land. There is quite a bit of unincorporated Clackamas and Multnomah Counties with Lake Oswego Addresses.

The biggest difference is that rural homes don’t have city sewer and water. Instead, they have wells and septic systems. This means that when you do inspections of the property, it needs to include testing of the well and investigation of the septic system.

When testing the well you will want to do two tests, one for water flow and one for water quality. A good well needs to be able to supply 600 gallons within a two hour period for use within a home. This is about 5 gallons per minute.

As far as water quality, what is typically tested for are nitrites, coliform bacteria, and arsenic. Lead is also commonly tested for.

The buyer usually pays for all tests associated with the water.

When inspecting the septic system the seller pays to have the tank pumped and then the buyer pays for an inspection to be done while the tank is empty. Further inspection can be done of the drainfield, if the buyer elects to take the inspection one step further.

Living on land is really appealing to people right now and properties on land are in high demand. Please let Linda or I know if you have any questions on this subject. We are here to help.
Dianne

Photo credit Getty images

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Market Activity June 15-21, 2020

This is one of the most beautiful times of the year here in LO. Perfect temperatures and just a bit of rain to help water the garden. It’s also a great time to buy or sell a house.

Last week in Lake Oswego we had 15 new listings, 22 properties go into pending status, and 21 sold/closed houses.

Following is the breakdown for you according to RMLS:

New on the Market (June 15-21, 2020)

Address Type Price BR Baths Sq Ft
100 Kerr Kkwy #2 Condo $170,000 2 2 833
13188 Vermeer Dr Detached $589,000 3 2.5 1862
86 Greenrideg Ct Attached $599,000 4 3.5 2718
5309 Lakeview Blvd Detached $599,550 2 1 1320
19 Morningview Circle Detached $629,000 3 2.5 2337
4962 Harvard Ct Detached $670,000 4 2.5 2522
1010 Laurel St Detached $825,000 3 3 2498
24 Del Prado St Detached $969,000 5 3.5 3357
815 Oak St Detached $1,035,000 4 3.5 3836
3938 Edens Edge Dr Detached $1,215,000 4 3.5 3882
14260 Uplands Dr Detached $1,284,000 4 3 2831
17680 Stafford Rd Lot 1 Detached $1,299,000 5 2.5 3804
3600 Southshore Blvd Detached $1,650,000 3 2.5 2117
1098 Chandler Rd Detached $1,995,000 4 3.5 3934
13600 Goodall Rd Detached $2,590,000 6 6.5 6612

Pending Sales (June 15-21, 2020)

Address Type Price BR Baths Sq Ft CDOM
16250 Pacific Hwy #68 Condo $210,000 1 1 900 12
668 McVey #82 Condo $235,000 2 1.5 992 24
3868 Botticelli St Condo $265,000 3 2 1260 12
48 Eagle Crest Dr 5C Condo $269,000 2 2 1443 201
5064 Foothills Dr #19 Condo $317,000 2 2 1252 12
885 McVey Ave Detached $450,000 3 1 1292 29
1778 Fern Pl Detached $499,900 2 2 1146 11
4851 Madrona St Detached $565,000 4 2 1500 22
13841 Verte Ct Detached $599,000 5 3 2341 8
1110 Hallinan Circle Detached $688,000 4 3.5 3548 63
9 Becket St Detached $719,000 4 2.5 3537 4
14183 Taylors Crest Ln Detached $785,000 4 2.5 3551 45
17965 Tualatin St Detached $849,900 3 2.5 2808 89
13711 Fielding Rd Detached $868,000 4 5 4649 77
553 2nd St Condo $890,000 2 2.5 1816 37
205th 5th St Detached $895,000 4 3 2556 52
2795 Rivendell Rd Detached $915,000 4 2.5 3518 3
163 Iron Mountain Blvd Detached $1,500,000 4 3.5 4314 71
17475 Canal Circle Detached $1,650,000 3 3 2290 0
2880 Upper Dr Detached $1,995,000 5 4.5 5853 63
4423 West Bay Rd Detached $2,349,900 4 3.5 2975 18
16723 Maple Circle Detached $2,450,000 3 2.5 2515 17

Sold/Closed (June 15-21, 2020)

Address Type List Price Sold Price Sq Ft CDOM
35 Oswego Summit Condo $235,000 $240,000 1212 3
5225 Jean Rd #208 Condo $265,000 $255,000 1,100 56
200 Oswego Summit Condo $260,000 $265,000 1383 2
16200 Pacific Hwy #15 Condo $399,000 $393,000 1190 56
16870 Cortez Ct Detached $449,900 $415,000 1800 80
5237 Dawn St Detached $494,800 $474,000 1412 42
668 McVey Ave #72 Condo $510,000 $482,000 1184 221
100 Kingsgate Rd Detached $515,000 $508,000 1960 5
2945 Upper Dr Detached $530,000 $530,000 1610 0
16824 Inverurie Rd Detached $565,000 $565,000 1945 1
3721 Tempest Rd Detached $615,000 $583,500 2572 46
3721 Tempest Dr Detached $615,000 $583,500 2572 46
1590 Country Club Rd Detached $950,000 $770,000 3799 251
14146 Edenberry Dr Detached $865,000 $865,000 3100 4
16792 Quail Ct Detached $900,000 $875,000 3222 91
1535 Pine St Detached $879,900 $899,000 2390 0
4904 Lower Dr Detached $939,000 $926,000 2803 3
16495 Glenwood Ct Detached $1,195,000 $1,160,000 4533 23
4720 Firwood Rd Detached $1,395,000 $1,310,000 3605 59
12822 Alto Park Rd Detached $1,495,000 $1,146,000 3426 91
17281 Kelok Rd Detached $1,875,000 $1,800,000 2699 4
2860 Glen Eagles Rd Detached $2,748,000 $2,700,000 6800 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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News & Notes ~ May 2020 Numbers

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

Inventory is down but only slightly from April. Overall we’re seeing an adjustment down in numbers overall as they relate to last year in May, and/but look at the numbers and how they’ve all risen from April, Closed Sales being down a slight 2.6% (fewer Offers made in March). You may remember my prediction that COVID and some freezing/panic in March were affecting April numbers. Now, as I suspected, we see what we’re all seeing anecdotally in the marketplace, which is people adapting to safety protocols and getting out there to buy and sell houses suiting their individual circumstances. So, down over May 2019, and up over April 2020. Look at the 52.5% rise in Pending sales over April!

My trusted Mortgage Advisors tell me:

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

  • There were 3,419  New Listings in May 2020 which decreased 30.3%  from May of 2019’s 4,902, and/but increased 20.1% over the previous month/April’s 2,847.
  • At 1,963, May 2020’s Closed Sales are down 33.9% from May 2019’s 2,969, and also decreased by 2.6% from the previous month/April 2020’s total of 2,015
  • At 3,112, May 2020’s Pending Sales are down 5.5% from May 2019’s 3,292, and are up a whopping 52.5% from the previous month/April 2020’s total of 2,041.
  • The Average Sale Price in May 2020 of $467,500 is down $3,700 from last year/May 2019’s $471,200, and is also down $9,900 from the previous month/April 2020’s $477,400.   YTD increase is 2.8%, however.
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in May 2020 of $425,000 rose from last year/May 2019’s $420,000 by $5,000, and is up by $1,000 from the previous month/April 2020’s $424,000.   YTD increase is 4.1%.

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

  • North Portland:  $442,900              1.9%   (Apr $448,500 )
    •                                                     YTD Median: $410,000
  • NE Portland:  $479,900                   2.9%   (Apr $491,200)
    •                                                     YTD Median: $429,900
  • SE Portland:  $448,300                   1.3%   (Apr $449,200)
    •                                                     YTD Median: $389,500
  • Gresham/Troutdale:   $358,800     2.3%   (Apr $371,900)
    •                                                     YTD Median: $360,000
  • Milwaukie/Clackamas:  $435,200  3.8%   (Apr $457,600)
    •                                                     YTD Median: $429,900
  • Oregon City/Canby:   $454,500      3.5%   (Apr $445,200)
    •                                                     YTD Median: $431,700
  • Lake Oswego/West Linn:$698,500  4.1%  (Apr $772,500 )
    •                                                      YTD Median: $604,500
  • West Portland:    $616,200             -1.3%  (Apr $642,000 )
    •                                                     YTD Median: $536,000
  • NW Wash County:  $520,400          0.8%   (Apr $587,400 )
    •                                                      YTD Median: $492,000
  • Beaverton/Aloha:     $407,800       2.9%   (Apr $431,100  )
    •                                                     YTD Median: $410,000
  • Tigard/Wilsonville:   $502,400        2.7%   (Apr $474,600 )
    •                                                      YTD Median: $460,000
  • Hillsboro/Forest Grove: $422,100  5.9%   (Apr $422,100)
    •                                                      YTD Median: $394,000

LAKE OSWEGO:

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

    •  324 Active Listings (Apr 340)
    •  209 New Listings     (Apr 149)
    •  169 Pending Sales    (Apr  81)
    •   92 Closed Sales       (Apr 89)
    • Average Sale Price for May: $698,500  (Apr $772,500)
      • 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.
    •  59 Average Days on the Market   (Apr 76)

 

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Market Activity ~ June 8-14, 2020

Last week in Lake Oswego there were 14 New listings, 20 properties that went into Pending status, and 32 Closed sales.  There are currently 220 Properties for sale in Lake Oswego!

Following is the breakdown for you according to RMLS:

New on the Market (June 8-14, 2020)

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #126 $219,900 2 2 984 CONDO
5064 FOOTHILLS DR #19 $317,000 2 2 1252 CONDO
111 TOUCHSTONE TER $420,000 2 2 1341 ATTACHD
71 TANGLEWOOD DR $625,000 3 3 2616 DETACHD
17020 SW Denney CT $650,000 2 2 2500 DETACHD
18706 BRYANT RD $655,000 3 2.1 2489 DETACHD
7 BECKET ST $785,000 4 3.1 4329 DETACHD
12562 SW ORCHARD HILL RD $789,000 4 2.1 2574 DETACHD
17502 ERIN CT $799,900 4 3 3014 DETACHD
18253 SIENA DR $1,395,000 5 4 4375 DETACHD
3933 EDENS EDGE DR $1,400,000 4 3.1 4436 DETACHD
4688 UPPER DR $1,795,000 4 3.1 3962 DETACHD
16645 GRAEF CIR $1,825,000 4 3.2 3187 DETACHD
3124 LAKEVIEW BLVD $2,950,000 5 4 4011 DETACHD

Pending Sales (June 8-14, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
65 CHURCH ST $293,000 2 2 1040 CONDO 38
2101 WEMBLEY PARK RD $320,000 5 3 3410 DETACHD 2
12806 SW BOONES FERRY RD $415,000 3 2.1 1174 CONDO 26
6050 FERNBROOK ST $434,900 4 2 1546 DETACHD 65
4292 GALEWOOD ST $549,900 3 2.1 1644 DETACHD 3
19211 INDIAN SPRINGS RD $585,000 4 3 2132 DETACHD 1
5465 CHILDS RD $589,900 4 2 1487 DETACHD 18
1268 SPRUCE ST $665,000 4 2 2220 DETACHD 3
2388 OVERLOOK DR $678,000 4 3 2765 DETACHD 5
14799 UPLANDS DR $699,000 4 2 2150 DETACHD 110
1405 CEDAR ST $749,900 3 2 2178 DETACHD 4
5950 HARRINGTON AVE $795,000 4 3.1 2867 DETACHD 16
15119 QUARRY RD $795,000 3 2 2086 DETACHD 16
64 CONDOLEA TER $799,000 3 3 2958 CONDO 3
1338 TIMBERLINE DR $874,900 3 3 3754 DETACHD 6
828 7TH ST $898,900 3 4 2418 DETACHD 64
16 BERNINI CT $1,150,000 6 5 4786 DETACHD 92
14414 PFEIFER DR $1,248,000 4 3.1 3744 DETACHD 5
4245 WEST BAY RD $2,350,000 4 3.1 2958 DETACHD 8
1415 SKYLAND DR $3,995,000 5 4.1 6085 DETACHD 130

Sold/Closed (June 8-14, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE $170,000 $145,900 3 2.1 1351 CONDO 243
8 CERVANTES CIR $209,900 $205,000 2 1.1 912 CONDO 17
35 OSWEGO SMT $235,000 $240,000 2 2 1212 CONDO 3
5225 JEAN RD $265,000 $255,000 2 2 1100 CONDO 56
200 OSWEGO SMT $260,000 $265,000 2 2 1383 CONDO 2
4455 THUNDER VISTA LN $330,000 $330,000 2 2.1 2002 CONDO 5
4270 WOODSIDE CIR $357,500 $357,000 3 2 1944 CONDO 3
16870 CORTEZ CT $449,900 $415,000 3 2 1800 DETACHD 80
5237 SW DAWN ST $494,800 $474,000 3 1.1 1412 DETACHD 42
668 MCVEY AVE $510,000 $482,000 3 2 1184 CONDO 221
100 KINGSGATE RD $515,000 $508,000 3 2.1 1960 DETACHD 5
2091 COUNTRY CLUB RD $618,000 $545,000 5 2 2112 DETACHD 109
16824 SW Inverurie RD $565,000 $565,000 3 3 1945 DETACHD 1
3721 TEMPEST DR $615,000 $583,500 4 2.1 2572 DETACHD 46
905 YORK RD $649,000 $634,000 3 2 1657 DETACHD 10
383 ASH ST $639,000 $639,000 3 2.1 1825 DETACHD 1
8 PARTRIDGE LN $659,000 $659,000 4 2.1 3583 DETACHD 5
15773 SPRINGBROOK CT $649,900 $662,000 3 2 1616 DETACHD 200
55 AQUINAS ST $774,900 $743,200 5 3 3720 DETACHD 43
1590 COUNTRY CLUB RD $950,000 $770,000 4 3.1 3799 DETACHD 251
5623 BAY CREEK DR $845,000 $830,000 5 2.1 3042 DETACHD 20
3996 TEMPEST DR $849,900 $849,900 4 2.2 3397 DETACHD 5
16792 QUAIL CT $900,000 $875,000 4 2.1 3222 DETACHD 91
2535 GLENMORRIE DR $899,900 $890,000 4 4 3134 DETACHD 87
4121 CHILDS RD $956,000 $896,800 4 3.1 3396 DETACHD 76
1535 Pine ST $879,900 $899,000 3 2.1 2390 DETACHD 0
5015 DENTON DR $950,000 $940,000 4 2.1 3131 DETACHD 32
16495 GLENWOOD CT $1,195,000 $1,160,000 5 3.1 4533 DETACHD 23
4720 FIRWOOD RD $1,395,000 $1,310,000 4 3 3605 DETACHD 59
12822 ALTO PARK RD $1,495,000 $1,460,000 4 4.1 3426 DETACHD 91
17281 KELOK RD $1,875,000 $1,800,000 4 3 2699 DETACHD 4
2860 GLEN EAGLES RD $2,748,000 $2,700,000 5 4.1 6800 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.