West Linn Real Estate Market Activity – September 14-20, 2009
Ron Ares September 21st, 2009
Welcome once again to the weekly review of West Linn real estate market activity.
Below are new listings, pending sales, and closed sales for the week September 14 through September 20.
Newly Listed
| ADDRESS |
LIST PRICE
|
# BEDS
|
# BATHS
|
TOTAL SQ FT
|
$ PER SQ FT | TYPE OF HOME |
DATE LISTED
|
| 20248 S HOODVIEW AVE | $239,800 | 3 | 2.1 | 1,503 | $160 | CONDO | 9/16/09 |
| 4060 SUMMERLINN DR | $240,000 | 3 | 3 | 1,683 | $143 | CONDO | 9/14/09 |
| 1605 BRITTON ST | $279,900 | 3 | 2 | 1,526 | $183 | DETACHD | 9/18/09 |
| 1920 TOMPKINS ST | $399,899 | 4 | 2.1 | 2,025 | $197 | DETACHD | 9/16/09 |
| 3563 VISTA RIDGE DR | $449,900 | 3 | 2.1 | 2,750 | $164 | DETACHD | 9/14/09 |
| 3125 WINKEL WAY | $524,900 | 5 | 2.1 | 3,119 | $168 | DETACHD | 9/17/09 |
| 3226 WINKEL WAY | $539,900 | 4 | 3 | 3,146 | $172 | DETACHD | 9/18/09 |
| 4543 DAMON DR | $544,900 | 3 | 2.1 | 3,336 | $163 | DETACHD | 9/18/09 |
| 3820 KENTHORPE WAY | $549,900 | 6 | 2.1 | 2,590 | $212 | DETACHD | 9/16/09 |
| 20328 FERNVIEW RD | $595,000 | 4 | 4 | 3,288 | $181 | DETACHD | 9/20/09 |
| 4700 SUMMER RUN DR | $649,900 | 5 | 3.1 | 5,358 | $121 | DETACHD | 9/18/09 |
| 442 SW ALDERWOOD DR | $799,900 | 3 | 2.1 | 2,862 | $279 | DETACHD | 9/14/09 |
| 20375 WILLAMETTE DR | $1,199,000 | 4 | 4 | 6,200 | $193 | DETACHD | 9/14/09 |
| AVERAGES | $539,454 | 3,030 | $180 |
Pending Sales
| ADDRESS |
LIST PRICE
|
TOTAL BEDS
|
TOTAL BATHS
|
TOTAL SQ FT |
$ PER SQ FT
|
TYPE OF HOME |
DOM
|
| 20020 MARIGOLD CT | $146,500 | 2 | 2 | 1,068 | $137 | CONDO | 12 |
| 6301 WHITE TAIL DR | $159,000 | 2 | 1.1 | 1,054 | $151 | CONDO | 706 |
| 2350 DEBOK RD | $177,000 | 3 | 2 | 1,400 | $126 | DETACHD | 24 |
| 2032 VIRGINIA LN | $179,900 | 2 | 2.1 | 1,152 | $156 | ATTACHD | 101 |
| 1407 ROSE MARIE DR | $264,900 | 3 | 2.1 | 2,068 | $128 | DETACHD | 17 |
| 2332 BUCK ST | $249,900 | 3 | 1.1 | 1,885 | $133 | DETACHD | 13 |
| 1300 TAMARISK DR | $288,800 | 3 | 2.1 | 1,915 | $151 | DETACHD | 162 |
| 3545 CHELAN DR | $349,900 | 3 | 3 | 2,132 | $164 | DETACHD | 321 |
| 1590 SKYE PKWY | $399,500 | 4 | 2.1 | 2,230 | $179 | DETACHD | 65 |
| 19151 KANTARA CT | $474,900 | 3 | 2.1 | 2,328 | $204 | DETACHD | 490 |
| AVERAGES | $269,030 | 1,723 | $153 | 191 |
Closed Sales
| ADDRESS | ORIGINAL PRICE | SOLD PRICE | % CHANGE | # BEDS |
# BATHS
|
TOTAL SQ FT |
$ PER SQ FT
|
TYPE OF HOME | DOM |
| 5801 SKYLINE DR | $349,000 | $282,500 | -19% | 3 | 2 | 2,224 | $127 | DETACHD | 71 |
| 4171 NORFOLK ST | $350,000 | $319,600 | -9% | 4 | 2.1 | 2,232 | $143 | DETACHD | 66 |
| 2997 WINKEL WAY | $530,900 | $362,978 | -32% | 3 | 2 | 1,805 | $201 | DETACHD | 9 |
| 2961 WINKEL WAY | $365,750 | $365,884 | 0% | 4 | 2.1 | 2,236 | $164 | DETACHD | 4 |
| 2390 MICHAEL DR | $524,900 | $469,900 | -10% | 4 | 2.1 | 2,834 | $166 | DETACHD | 171 |
| 2275 ROGUE WAY | $684,900 | $499,900 | -27% | 4 | 2.1 | 3,274 | $153 | DETACHD | 426 |
| AVERAGES | $467,575 | $383,460 | -16% | 2,434 | $159 | 125 |
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:
- West Linn Real Estate Market Results – September 1-7, 2008
- West Linn Real Estate Market Activity – September 15-21, 2008
- West Linn Real Estate Market Activity – September 28-October 4, 2009
- West Linn Real Estate Market Activity, September 7-13, 2009
- West Linn Real Estate Market Activity – August 31 – September 6, 2009
Again, the aspirational market stumbles. Sub $500K keeps us in conforming territory.
Is it possible that this is the future of the market for a while? The stock market is still down over 30% from highs, so the aspirational equity-owning classes still feel poor, and their jobs are proving just as vulnerable as the rest of us. The uber-wealthy in real estate have taken an almighty kicking in residential, and commercial looks set to be following that trend (Anyone want to buy a mall these days?)
It does look like we may have hit the bottom when it comes to the conforming market (<$500K), but the "aspirational" segment has too little data and activity to determine where it is. However, I think it still has further to fall in $/sqft terms.
According to the RMLS as of tonight, there are 170 homes for
sale listed at 500+K. If only 2-3 homes are sold above 500K a week,
that works out to be about 12 per month. 170 divided by 12 is about 14 months of inventory.
That’s a lot of inventory to move. I think the 500K homes will continue to be under pressure.
David
Stuart, I think you’ll get a kick out of this rental listing I found. I was searching craigslist for rentals and I came across this:
http://portland.craigslist.org/clc/apa/1390255995.html
Stafford mansion for rent for $6275 per month. No it’s not a joke. This house is also available for sale look at RMLS # 9041241 for 1.2 million. I guess he’s trying to get somebody to cover his mortgage payments and property taxes.
David
“If only 2-3 homes are sold above 500K a week…..”
Except they seem to be listing at 3 to 9 per week, so supply is increasing. The buyers just are not there.
Love the Stafford “Estate”. Made me laugh. Sucks to be a $1M home “borrower” (We can’t use the term “owner” any more) these days.
And the story on the Stafford Hill Dr. estate gets more interesting. I was looking at foreclosure listings on Yahoo Real Estate and I found the Stafford Hill Dr. House.
http://realestate.yahoo.com/Oregon/West_Linn/sw-stafford-hill-dr:fd1ad49d26b1ccc4e368111133dec8?type=featured
According to that listing the house will be auctioned off on 01/4/2010. Starting bid is 983K.
The high end market is in a world of hurt. Even the “money belt” is not immune to foreclosures.