West Linn Real Estate Market Activity – July 13-19, 2009
Ron Ares July 20th, 2009
Checking in on recent West Linn real estate activity, you’ll see twenty new or refreshed listings, twelve pending sales, and eight closed sales for the past week. Just one sold home (Ridgewood Way) was a short sale.
Earlier, I had promised a first-half 2009 review and have completed the numbers, so keep an eye out for it later in the week.
Newly Listed
| ADDRESS |
LIST PRICE
|
# BEDS
|
# BATHS
|
TOTAL SQ FT
|
$ PER SQ FT | TYPE OF HOME |
DATE LISTED
|
| 5640 SUMMERLINN WAY | $149,900 | 1 | 1 | 874 | $172 | ATTACHD | 7/13/09 |
| 20090 LARKSPUR LN | $179,900 | 2 | 2 | 1,068 | $168 | CONDO | 7/15/09 |
| 2632 PIMLICO TER | $181,900 | 2 | 2 | 1,224 | $149 | CONDO | 7/16/09 |
| 4773 FALLS VIEW AVE | $209,000 | 3 | 1 | 1,437 | $145 | DETACHD | 7/13/09 |
| 3577 ARBOR DR | $272,000 | 4 | 3 | 1,838 | $148 | DETACHD | 7/15/09 |
| 6035 SKYLINE DR | $294,000 | 3 | 2 | 1,784 | $165 | DETACHD | 7/17/09 |
| 1155 DOUGLAS DR | $350,000 | 5 | 3 | 2,428 | $144 | DETACHD | 7/19/09 |
| 2590 DEBOK RD | $395,010 | 4 | 3.1 | 3,035 | $130 | DETACHD | 7/18/09 |
| 2215 CRESTVIEW DR | $399,900 | 3 | 2 | 2,451 | $163 | DETACHD | 7/17/09 |
| 1590 SKYE PKWY | $419,500 | 4 | 2.1 | 2,230 | $188 | DETACHD | 7/13/09 |
| 2937 WINKEL WAY | $419,564 | 4 | 2.1 | 2,400 | $175 | DETACHD | 7/13/09 |
| 2945 WINKEL WAY | $419,663 | 4 | 2.1 | 2,400 | $175 | DETACHD | 7/13/09 |
| 19783 WILDWOOD DR | $549,000 | 3 | 3 | 3,334 | $165 | DETACHD | 7/16/09 |
| 3528 VISTA RIDGE DR | $549,000 | 4 | 3.1 | 4,120 | $133 | DETACHD | 7/17/09 |
| 1393 Buck ST | $575,000 | 3 | 2.1 | 2,600 | $221 | DETACHD | 7/14/09 |
| 19305 SUNCREST AVE | $624,500 | 5 | 2.1 | 3,386 | $184 | DETACHD | 7/13/09 |
| 21463 ROSEPARK CT | $674,900 | 5 | 3.1 | 3,959 | $170 | DETACHD | 7/14/09 |
| 2730 BEACON HILL DR | $699,000 | 4 | 2.1 | 3,317 | $211 | DETACHD | 7/15/09 |
| 22675 JOHNSON RD | $1,649,000 | 4 | 3.2 | 4,827 | $342 | DETACHD | 7/15/09 |
| 1095 SW SCHAEFFER RD | $2,195,000 | 6 | 5.1 | 7,651 | $287 | DETACHD | 7/17/09 |
| AVERAGES | $560,287 | 2,818 | $182 |
Pending Sales
| ADDRESS |
LIST PRICE
|
TOTAL BEDS
|
TOTAL BATHS
|
TOTAL SQ FT |
$ PER SQ FT
|
TYPE OF HOME |
DOM
|
| 2283 CHARMAN ST | $239,900 | 3 | 2 | 1,050 | $228 | DETACHD | 692 |
| 1322 WILLAMETTE FALLS DR | $269,000 | 2 | 1 | 1,252 | $215 | DETACHD | 108 |
| 4985 SUMMIT ST | $285,000 | 3 | 2 | 1,824 | $156 | DETACHD | 103 |
| 1730 REGENCY ST | $318,950 | 4 | 2 | 2,227 | $143 | DETACHD | 286 |
| 2913 Winkel WAY | $384,113 | 4 | 2.1 | 2,451 | $157 | DETACHD | |
| 4633 EXETER ST | $409,000 | 5 | 3.1 | 3,271 | $125 | DETACHD | 450 |
| 6647 APOLLO RD | $458,900 | 4 | 2.1 | 3,316 | $138 | DETACHD | 263 |
| 4543 DAMON DR | $523,900 | 3 | 2.1 | 3,336 | $157 | DETACHD | 19 |
| 2269 ROGUE WAY | $544,900 | 3 | 2.1 | 3,250 | $168 | DETACHD | 424 |
| 2298 HASKINS RD | $579,900 | 4 | 3.1 | 3,263 | $178 | DETACHD | 440 |
| 2013 MOUNTAIN VIEW CT | $798,950 | 4 | 2.2 | 3,985 | $200 | DETACHD | 160 |
| 19525 JOHNSON RD | $4,888,850 | 5 | 5.1 | 8,990 | $544 | DETACHD | 228 |
| AVERAGES | $808,447 | 3,185 | $201 | 288 |
Closed Sales
| ADDRESS | ORIGINAL PRICE | SOLD PRICE | $ +/-% |
# BEDS
|
# BATHS
|
TOTAL SQ FT
|
$ PER SQ FT | TYPE OF HOME |
DOM
|
| 4690 SUMMERLINN WAY | $277,500 | $210,000 | -24% | 2 | 2 | 1,307 | $161 | CONDO | 365 |
| 6288 BELMONT WAY | $269,900 | $240,000 | -11% | 3 | 2 | 1,815 | $132 | CONDO | 135 |
| 3611 RIDGEWOOD WAY | $324,900 | $270,000 | -17% | 3 | 2 | 1,644 | $164 | DETACHD | 115 |
| 1625 SHADOW WOOD DR | $369,000 | $285,000 | -23% | 5 | 3.1 | 2,166 | $132 | DETACHD | 28 |
| 1590 ROSEMONT RD | $439,000 | $310,000 | -29% | 5 | 2.1 | 3,030 | $102 | DETACHD | 109 |
| 6850 APOLLO RD | $599,000 | $430,000 | -28% | 4 | 3.1 | 3,560 | $121 | DETACHD | 171 |
| 3755 FAIRHAVEN DR | $769,000 | $540,000 | -30% | 5 | 3.1 | 3,961 | $136 | DETACHD | 396 |
| 3802 WELLINGTON CT | $1,069,000 | $810,000 | -24% | 4 | 4.1 | 5,610 | $144 | DETACHD | 385 |
| AVERAGES | $514,663 | $386,875 | -23% | 2,887 | $137 | 213 |
Criteria: Homes in the 97068 zip code, listed, ending 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.
Related posts:
Good to see a 800K+ sale. Even though it was at quite a discount after being on the market for a year. Sale prices in terms of price per square foot certainly appear to be settling down although the pending and new listings still show a disconnect between what the market will pay, and what sellers think they can get. It would be interesting to see the distribution of sale prices in first half 2009 compared with 2005,2006, and 2007. The $500K to $800K range is turning into a desert.
Perhaps the reason for the disconnect between the asking and sales price is strategic ? For example, you start the pricing at $180/sqft. It makes the seller feel good because their home is unique, one-of-a-kind, knock the socks off a potential buyer, etc. etc. etc. No offers come in, so either the seller takes the home off the market and waits until the market improves, or they start to discount the home. Or, if there is an interested buyer, a little bird will somehow let this interested party know that the seller is very motivated. But, with the price at what it is, the buyer is a bit embarrassed to low-ball, so they submit an offer which is at market value. There is a perceived huge discount on the property (priced at $180/sqft, but got it at $140/sqft !!), but in reality, the price of the home was always $140/sqft. If you price the home at $140/sqft from the start, then either the home will get snatched up, or someone will come in with a $120/sqft offer. Coincidence, or planned ? You be the judge…