Lots of houses continue to come onto the market, as is typical in the spring. Even with the holiday weekend there were 25 new listings in Lake Oswego. We also saw 21 houses receive offers and go pending and 2 closed sales.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (May 18—May 24, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
LIST DATE
|
| Address | List Price | # BR | # BTHS | Total SF | Prop Type | List Date | ||
| 100 KERR PKWY | $94,900 | 1 | 1 | 617 | CONDO | 5/21/2009 | ||
| 45 EAGLE CREST DR | $139,900 | 1 | 1 | 768 | CONDO | 5/20/2009 | ||
| 86 KINGSGATE RD | $149,900 | 2 | 2 | 849 | CONDO | 5/20/2009 | ||
| 276 CERVANTES | $183,000 | 3 | 2 | 1,209 | CONDO | 5/21/2009 | ||
| 235 CERVANTES | $188,000 | 2 | 2 | 1,100 | CONDO | 5/21/2009 | ||
| 16250 PACIFIC HWY | $220,000 | 1 | 1 | 841 | CONDO | 5/19/2009 | ||
| 16428 SW BONAIRE AVE | $269,950 | 3 | 1 | 1,240 | DETACHD | 5/19/2009 | ||
| 16250 PACIFIC HWY | $274,500 | 2 | 2 | 1,305 | CONDO | 5/19/2009 | ||
| 4 WHEATHERSTONE | $334,950 | 3 | 2.1 | 1,692 | CONDO | 5/18/2009 | ||
| 6321 ALYSSA TER | $339,000 | 3 | 2.1 | 1,582 | ATTACHD | 5/18/2009 | ||
| 14141 GOODALL RD | $389,900 | 3 | 2.1 | 1,907 | DETACHD | 5/22/2009 | ||
| 19221 REDWING CT | $397,500 | 3 | 2 | 1,374 | DETACHD | 5/22/2009 | ||
| 147 6TH ST | $425,000 | 3 | 1 | 1,584 | DETACHD | 5/18/2009 | ||
| 668 MCVEY AVE | 425000 – 450000 | 3 | 1.1 | 992 | CONDO | 5/20/2009 | ||
| 16950 LAKERIDGE DR | $479,000 | 4 | 2.1 | 2,305 | DETACHD | 5/23/2009 | ||
| 4938 MULHOLLAND DR | $529,900 | 3 | 2.1 | 2,498 | ATTACHD | 5/19/2009 | ||
| 4959 BILFORD LN | $547,500 | 3 | 2.1 | 2,456 | DETACHD | 5/19/2009 | ||
| 475 COUNTRY CLUB CT | $549,000 | 3 | 2.1 | 1,705 | DETACHD | 5/18/2009 | ||
| 5400 BAY CREEK DR | $550,000 | 4 | 2.1 | 2,856 | DETACHD | 5/22/2009 | ||
| 686 SUNNY HILL DR | $569,500 | 4 | 2.1 | 2,300 | DETACHD | 5/21/2009 | ||
| 4305 UPPER DR | $749,000 | 4 | 2.1 | 3,474 | DETACHD | 5/20/2009 | ||
| 1755 SOUTHSHORE BLVD | $949,000 | 5 | 3.1 | 4,757 | DETACHD | 5/21/2009 | ||
| 943 SW ATWATER RD | $975,000 | 4 | 2.1 | 3,874 | DETACHD | 5/21/2009 | ||
| 14480 KRUSE OAKS BLVD | $1,149,000 | 4 | 3.1 | 4,661 | DETACHD | 5/18/2009 | ||
| 18042 SKYLAND CIR | $1,499,000 | 4 | 3 | 4,800 | DETACHD | 5/22/2009 |
PENDING SALES (May 18-May 24, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # BR | # BTHS | Total SF | Prop Type | CDOM | |||
| 45 EAGLE CREST DR | $134,900 | 2 | 1.1 | 1,056 | CONDO | 6 | |||
| 4000 CARMAN DR | $149,900 | 2 | 2 | 925 | CONDO | 699 | |||
| 4000 CARMAN DR | $179,900 | 2 | 2 | 1,100 | CONDO | 72 | |||
| 1602 BONNIEBRAE DR | 224900 – 254876 | 2 | 1 | 864 | ATTACHD | 256 | |||
| 103 KINGSGATE RD | $299,900 | 3 | 2.1 | 1,352 | DETACHD | 56 | |||
| 18543 LONGFELLOW AVE | $305,000 | 3 | 1.1 | 1,279 | DETACHD | 97 | |||
| 5918 SEVILLE AVE | $315,000 | 4 | 2 | 1,752 | DETACHD | 14 | |||
| 45 TANGLEWOOD DR | $345,000 | 5 | 3.1 | 3,166 | DETACHD | 71 | |||
| 15 MASARYK ST | $349,900 | 3 | 3 | 3,680 | DETACHD | 131 | |||
| 111 3RD ST | $399,900 | 2 | 2 | 1,206 | CONDO | 276 | |||
| 815 10TH ST | $399,950 | 3 | 2 | 2,190 | DETACHD | 298 | |||
| 606 2ND ST | $420,000 | 4 | 3 | 3,022 | DETACHD | 34 | |||
| 17825 SARAH HILL LN | $464,900 | 4 | 2.1 | 2,525 | DETACHD | 5 | |||
| 2 PIMLICO TER | $479,900 | 4 | 2.1 | 2,301 | DETACHD | 21 | |||
| 14412 MEADOW GRASS ST | $500,000 | 4 | 2.1 | 3,563 | DETACHD | 364 | |||
| 5026 HARTFORD PL | $524,900 | 5 | 2.1 | 3,253 | DETACHD | 319 | |||
| 17445 LAKE HAVEN DR | $539,900 | 4 | 3 | 2,949 | DETACHD | 9 | |||
| 1245 BAYBERRY RD | $559,000 | 3 | 2 | 1,728 | DETACHD | 342 | |||
| 5590 KODERRA AVE | $599,900 | 4 | 2.1 | 3,072 | DETACHD | 10 | |||
| 5322 Langford LN | $759,000 | 4 | 2.1 | 3,218 | DETACHD | 178 | |||
| 17970 ROYCE WAY | $995,000 | 4 | 4.2 | 5,226 | DETACHD | 285 |
SOLD (May 11-May 17, 2009)
| ADDRESS | ORIG. PRICE | SALE PRICE |
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | O/Price | Close Price | # BR | # BTHS | Total SF | Prop Type | CDOM | ||
| 4724 SW FIRWOOD RD | $299,900 | $279,900 | 3 | 1.1 | 1,240 | DETACHD | 296 | ||
| 13805 REGENCY CT | $419,000 | $373,000 | 4 | 2.1 | 2,045 | DETACHD | 29 | ||
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.
Along with my own open house at 4447 Golden Lane, there are a total 17 opens planned for Lake Oswego on May 24th. I’d love to have you come by to see me tomorrow. My listings is a 1616 square foot townhouse in Mt. Park. Recent updates include gorgeous granite counters in the kitchen, laminate flooring, and new windows. It has 2 large bedrooms and 2 1/2 baths. Probably the nicest feature is that it has huge, south-facing windows that look out across trees and well-cared for landscaping. It is also an end unit. It’s priced at $255,000. I’ll be there from 2 to 5pm. You’ll find my signs at the corner of Melrose and Fosberg and from there you can easily follow them into the complex on Thundervista.
It’s time to showcase another of Lake Oswego’s wonderful neighborhoods, Westridge. Westridge is not very large. According to 
Second, it has two terrific parks. Cooks Butte Park is on the Eastern edge of Westridge. It’s 42 acres of natural area. It’s what is called a passive park. In other words, it is left quite natural with soft-surface trails for hiking, but not a lot of development such as picnic structures or play grounds. It is best enjoyed for the trees, the trails, and the views. The top of the park has an elevation of 718′. It’s a wonderful spot to hike up to and then sit and watch the sunset. The other park is Westridge Park. It’s adjacent to Westridge Elementary School. It’s 2.2 acres and has a playground, a volleyball area, and a soccer/little league field. This is where you take the kids to burn off some energy and to enjoy a fine, sunny afternoon.
Housing in Westridge is all single family homes. There are no condominiums or apartment buildings. The pricing of what is currently for sale goes from a low of $498,500 for a 2670 square foot home with 4 bedrooms and 3 baths, to a high of $899,900 for a 3243 square foot home also with 4 bedrooms and 3 baths. I would say that the most basic criteria for the variation in pricing is whether the home has been updated or not. The neighborhood was mostly built in the 1970’s and 1980’s. So if the house still has original kitchen, baths, woodwork and windows, it is just not going to be worth as much as a house that is
I want to point out a house that Linda and I visited on Broker’s tour on May 5th, 9 Westminster Dr. This home is an excellent example of great value. Built in 1976, it has been extensively updated. The kitchen and baths are all recent. There is new paint and flooring. The house has 3814 square feet, with 4 bedrooms and 2 1/2 baths. Probably the most distinguishing feature is a wonderful sunroom that allows you to sit and enjoy the garden all year round. The landscaping is exceptional. There is extensive brick work in patios and outdoor entertaining areas. The yard has sprinklers and it looks to me as though a professional was involved in the layout. It is really wonderful. Priced at just $597,000 it is a stand out for value. I tell people that in this market it is both a beauty pageant and a price war. I think this house wins in both categories.
While waterfront living is not for everyone, it is certainly a feature that draws people to Lake Oswego. Think about it. You are 15 minutes from downtown Portland, but you can water ski in the morning before you go to work. Or if you don’t water ski, you can canoe, and swim, and just enjoy the serenity of living with a view of the water. If you are someone who thinks living on the lake sounds like a wonderful idea, there are a few things that you’ll want to consider. I am going to discuss the 3 specific areas of the lake and the current pricing for those 3 areas. I am not going to go into the history of the lake or the details of its management. For that, I’d like to refer you back to a previous post : 
Let’s start with the Main Lake. This is where you will find the highest prices. The most expensive house for sale in the lake right now is a private island that is accessed from Northshore Rd. It’s priced at $19,500,000. The house has 13,500 square feet, with 5 bedrooms, 6 full baths, and 2 half baths. The island is pretty good sized. I recall years ago calculating that it could be divided into multiple home sites. So there is a good deal of value in the land and not just in the house. The least expensive house on the main lake is priced at $829,000. It has 2484 square feet with 4 bedrooms and 2 full baths. OK. That is just amazing. Why? Because the availability of buildable lots on the lake is extremely limited. 3 years ago there was quite a lot of buying and tearing down of old houses in order to build a new house. And the going price on the tear downs was running about $1,400,000, which made land value alone over a million dollars. So to see this house for sale for $829,000, that’s pretty amazing.
There are a couple of characteristics to houses on the main lake that affect the home that buyers select. First, the North shore of the lake has much better sun exposure. If you want to have full sun while you swim, you should look seriously at the North side. The South side has a large hill immediately South of it, which creates shade and less full sun. In addition, with the sun coming from the South, the front of the house will get more sun than the back, and the lake is on the back of the house. You should also know that on the North side there is a rail road track that runs very close to many of the houses. So if you think that the sound of a train will bother you, then you should be looking on the South side of the lake.
feet, with 4 bedrooms and 3 and 1 half baths. The least expensive is priced at $1,395,000. It has 3190 square feet, with 4 bedrooms and 3 full and 1 half baths. One of the unique areas on the bays is the Cabanas. These are homes that are built out over the water. They have a very small front yard and no backyard. Instead, they have decks that hang out over the water. You could literally fish off of your back deck. In addition, many have attached boat houses. Just like you enter a garage from a home, these cabanas allow you to get into your boat right from your house. It is an easy-care lifestyle for those who would rather go boating than mow a lawn.
square feet, with 5 bedrooms and 3 full plus 1 half baths. The least expensive is $599,000. It needs quite a bit of work, but still strikes me as an incredible deal with 3458 square feet. It has 3 bedrooms and 3 full baths.
I hope this helps you to get a sense of what pricing is like to live on Oswego Lake. I’ve been around Lake Oswego for a very long time. One of the things I see is that when people want to live on the lake, they often start out in a condominium or along a canal. And then as they mature and their income increases, they move to get onto the main lake. I also know of one couple who buys the run down houses and lives in them while they fix them up. They have lived in many homes on the lake, and made a good deal of money too.