West Linn Real Estate Market Activity – September 28-October 4, 2009
Ron Ares October 5th, 2009
The final week of each month is typically the busiest for closed sales, and that was certainly the case in the West Linn real estate market for September.
Thirteen homes closed escrow, another 14 went sale pending, and 11 homes arrived on the market for sale in the past week. The D.R. Horton community off Parker Road closed four new houses alone in the week.
Frequent readers will note there is very little sales activity above $500,000.
Below are new listings, pending sales, and closed sales for the week September 28 through October 4.
Newly Listed
| ADDRESS |
LIST PRICE
|
# BEDS
|
# BATHS
|
TOTAL SQ FT
|
$ PER SQ FT | TYPE OF HOME |
DATE LISTED
|
| 2491 SW MOSSY BRAE RD | $249,900 | 2 | 1 | 1,256 | $199 | DETACHD | 10/2/09 |
| 2480 DONEGAL CT | $299,999 | 3 | 2 | 1,722 | $174 | DETACHD | 10/1/09 |
| 1560 ROSEMONT RD | $315,000 | 3 | 1.1 | 2,485 | $127 | DETACHD | 9/29/09 |
| 2525 SUNSET AVE | $278,900 | 5 | 2.1 | 2,157 | $129 | DETACHD | 9/28/09 |
| 3150 SABO LN | $409,900 | 4 | 3 | 2,572 | $159 | DETACHD | 9/29/09 |
| 23067 S BLAND CIR | $464,900 | 4 | 2.1 | 2,680 | $173 | DETACHD | 10/1/09 |
| 1337 TROON DR | $514,999 | 5 | 3.1 | 4,486 | $115 | DETACHD | 9/29/09 |
| 6260 HAVERHILL CT | $598,000 | 4 | 2.1 | 3,456 | $173 | DETACHD | 10/1/09 |
| 3822 FAIRHAVEN DR | $625,000 | 3 | 2.1 | 3,306 | $189 | DETACHD | 10/4/09 |
| 5146 Gregory CT | $639,900 | 4 | 3.1 | 4,008 | $160 | DETACHD | 9/30/09 |
| 2530 LORINDA CT | $1,745,000 | 6 | 4.1 | 8,727 | $200 | DETACHD | 9/28/09 |
| AVERAGES | $558,318 | 3,350 | $164 |
Pending Sales
| ADDRESS |
LIST PRICE
|
TOTAL BEDS
|
TOTAL BATHS
|
TOTAL SQ FT |
$ PER SQ FT
|
TYPE OF HOME |
DOM
|
| 20130 LARKSPUR LN | $102,000 | 1 | 1 | 723 | $141 | CONDO | 409 |
| 2824 TREE TOP LN | $149,900 | 2 | 1.1 | 1,141 | $131 | CONDO | 112 |
| 19461 VIEW DR | $194,900 | 3 | 1 | 1,074 | $181 | DETACHD | 113 |
| 6294 BELMONT WAY | $259,900 | 3 | 2.1 | 1,830 | $142 | CONDO | 240 |
| 1605 BRITTON ST | $279,900 | 3 | 2 | 1,526 | $183 | DETACHD | 10 |
| 2937 WINKEL WAY | $348,575 | 4 | 2.1 | 2,400 | $145 | DETACHD | 79 |
| 2225 SAINT MORITZ LOOP | $299,000 | 2 | 2.1 | 2,125 | $141 | ATTACHD | 30 |
| 2641 WAKE ROBIN CT | $364,500 | 4 | 2.1 | 2,235 | $163 | DETACHD | 222 |
| 334 WILDA LN | $415,000 | 2 | 2.1 | 1,735 | $239 | DETACHD | 726 |
| 18890 MARYLHURST CT | $439,900 | 5 | 3 | 3,101 | $142 | DETACHD | 5 |
| 2185 RIVER HEIGHTS CIR | $484,900 | 4 | 2.1 | 2,912 | $167 | DETACHD | 178 |
| 1064 Epperly DR | $485,350 | 3 | 3 | 2,538 | $191 | DETACHD | |
| 1052 Epperly DR | $497,255 | 3 | 3 | 2,785 | $179 | DETACHD | |
| 2293 ROGUE WAY | $564,900 | 4 | 3.1 | 3,240 | $174 | DETACHD | 497 |
| AVERAGES | $348,999 | 2,098 | $166 | 218 |
Closed Sales
| ADDRESS | ORIGINAL PRICE | SOLD PRICE | % CHANGE | # BEDS |
# BATHS
|
TOTAL SQ FT |
$ PER SQ FT
|
TYPE OF HOME | DOM |
| 4335 SUMMERLINN DR | $219,900 | $196,000 | -11% | 2 | 2 | 1,352 | $145 | CONDO | 310 |
| 4475 SIMPSON ST | $230,000 | $198,000 | -14% | 3 | 2 | 1,080 | $183 | DETACHD | 4 |
| 2566 LANCASTER ST | $299,950 | $250,000 | -17% | 3 | 2 | 1,440 | $174 | DETACHD | 37 |
| 3878 KENTHORPE WAY | $293,750 | $252,000 | -14% | 3 | 1 | 1,542 | $163 | DETACHD | 67 |
| 200 SW PEACH COVE LN | $359,900 | $265,000 | -26% | 3 | 2 | 2,100 | $126 | DETACHD | 286 |
| 2553 PIMLICO DR | $329,000 | $325,000 | -1% | 3 | 1.1 | 1,741 | $187 | DETACHD | 11 |
| 2482 SADDLE CT | $358,000 | $333,000 | -7% | 3 | 2.1 | 1,927 | $173 | DETACHD | 171 |
| 2914 WINKEL WAY | $384,039 | $342,227 | -11% | 5 | 3 | 2,236 | $153 | DETACHD | 74 |
| 2945 WINKEL WAY | $419,663 | $346,474 | -17% | 4 | 2.1 | 2,400 | $144 | DETACHD | 49 |
| 2977 Winkel WAY | $444,900 | $432,818 | -3% | 3 | 2.1 | 2,978 | $145 | DETACHD | 346 |
| 19432 WILDERNESS DR | $519,900 | $448,400 | -14% | 3 | 2.1 | 2,683 | $167 | DETACHD | 72 |
| 2978 Winkel WAY | $614,900 | $460,000 | -25% | 5 | 4 | 3,602 | $128 | DETACHD | 724 |
| 3417 BARRINGTON DR | $712,400 | $699,900 | -2% | 4 | 2.1 | 4,273 | $164 | DETACHD | 19 |
| AVERAGES | $398,946 | $349,909 | -12% | 2,258 | $158 |
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 Activity – September 29 – October 5, 2008
- West Linn Real Estate Market Activity, September 7-13, 2009
- West Linn Real Estate Market Activity – August 31 – September 6, 2009
- West Linn Real Estate Market, September 21-27, 2009
- West Linn Real Estate Market Activity – September 15-21, 2008
DR Horton lowered prices to get a bunch of houses sold because
the 8000 tax credit will expire soon. These brand new houses are going for $140-$150 a square foot. I think that will put pressure on Arbor Cove and Renaissance to lower their prices also.
The Legend homes on the Maxfield PUD (down the street also on Winkel) are finally back on the market I see. They’re priced a little higher than DR Horton though.
The last time I drove through there there were unfinished houses covered with tarp. I wonder if Legend has negotiated some new terms with the bank that owns that subdivision (since Legend filed for bankruptcy). Anybody passed by Winkel lately? Are they building new homes or finishing up the half-baked ones?
-David
At Maxfield, the bank was not at all interested in allowing Legend to even finish the homes at mid-construction, let alone build any more. The bank is in posession of those homes.
With DR Horton giving homes away, it is probably best for the neighborhood to just sit and wait until they are done and gone anyway.
Hi David, I think Legend gave up that property to the bank, so it is no longer Legend homes anymore. This particular community doesn’t even show up on their website. I think the property has been sold piece-meal to smaller builder to complete existing construction. I don’t think they are breaking ground on anything new, but rather building to order. DR Horton is trying to close up their books for their fiscal year end and they want their West Linn subdivision off the books, hence their willingness to close some deals. Unfortunately the price reductions have also meant that DR Horton has skimped on the finishings. When they first came in, they had model homes asking $600-$700K with really nice finishing touches. The last batch of houses are just your basic average home. I agree that this should put some pressure on Renaissance homes, who have refused to budge on their list prices. What happens on the negotiation table is a different matter, and we’ll see what happens to some of the property when it closes hopefully in the next month. But with so much inventory in the market, and with Renaissance currently in bankruptcy protection, makes you wonder why they aren’t being more aggressive on the pricing to move inventory. One can argue that “Renaissance” commands a premium. I agree that they build very nice homes, but quite frankly in this market even Renaissance is not immune to the current real-estate hangover. They have a property on Evergreen that has been on the market for 3 years waiting for a buyer. Properties developed by Renaissance 4-5 years ago are also currently on the market on par with homes from other builders in the area.
Yes, I can’t wait to see the numbers in the next couple of weeks from Arbor Homes (the ones on meek, epperly). DR Horton competed more directly with Arbor Homes on Meek I think, not with Renaissance. Renaissance is still high end. Very few houses on Coho shows up here on the weekly data. Since they’re in bankruptcy, I guess the bank is giving them a lot of leeway to not cost prices too much. Otherwise they would have had a fire sale there.
That house on 2978 Winkel WAY is a model home. Whoever bought that house got a really good deal. We looked at that house a few months ago. It has a really nice daylight basement. Since it’s a model home the finishes are above average. At $128 a square foot it’s a steal for a brand new home!
-David
Does anyone have any info or feedback on the Douglas Park homes being built by Icon construction? They recently sold some on Rogue Way. Thanks…