West Linn Real Estate Market Activity — April 5 – May 2, 2010
Ron Ares May 2nd, 2010
Hello avid West Linn real estate junkies! I am back with a quick 4-week update on market activity.
It appears a number of buyers snapped up short sale and bank-owned properties over the past month. Many of the pending sales, particularly at the low end of the price scale, were REO (real estate-owned), otherwise known as foreclosures.
Pending Sales
| ADDRESS |
LIST PRICE
|
TOTAL BEDS
|
TOTAL BATHS
|
TOTAL SQ FT |
$ PER SQ FT
|
TYPE OF HOME |
DOM
|
| 1626 VILLAGE PARK PL | $79,000 | 2 | 1 | 928 | $85 | CONDO | 14 |
| 1630 Village Park PL | $110,000 | 2 | 1.1 | 976 | $113 | CONDO | 63 |
| 5640 SUMMERLINN WAY | $136,500 | 1 | 1 | 874 | $156 | CONDO | 59 |
| 745 SPRINGTREE LN | $149,900 | 1 | 1 | 843 | $178 | CONDO | 320 |
| 2027 VIRGINIA LN | $175,000 | 3 | 2.1 | 1,314 | $133 | ATTACHD | 5 |
| 2075 SUNRAY CIR | $175,000 | 2 | 2.1 | 1,671 | $105 | ATTACHD | 171 |
| 3660 SUMMERLINN DR | $178,900 | 2 | 2.1 | 1,418 | $126 | CONDO | 532 |
| 4875 WILLAMETTE FALLS DR | $185,000 | 2 | 1 | 1,260 | $147 | DETACHD | 458 |
| 20683 S NOBLE LN | $210,000 | 3 | 2.1 | 1,493 | $141 | ATTACHD | 5 |
| 18365 WILLAMETTE DR | $210,000 | 3 | 2 | 1,152 | $182 | DETACHD | 53 |
| 1670 BUCK ST | $215,000 | 2 | 1 | 950 | $226 | DETACHD | 69 |
| 20416 S NOBLE LN | $225,000 | 3 | 2.1 | 2,100 | $107 | ATTACHD | 63 |
| 2003 MARYLHURST DR | $229,900 | 3 | 2.1 | 2,294 | $100 | DETACHD | 86 |
| 2175 SNOWBERRY RIDGE CT | $229,900 | 3 | 2 | 1,515 | $152 | CONDO | 1076 |
| 2764 SUNSET AVE | $239,000 | 3 | 2 | 2,460 | $97 | DETACHD | 111 |
| 4442 NORFOLK ST | $239,000 | 3 | 2 | 1,610 | $148 | DETACHD | 292 |
| 6275 CLUBHOUSE CIR | $239,000 | 2 | 2 | 1,310 | $182 | CONDO | 178 |
| 2425 HUGHES DR | $239,000 | 3 | 2 | 1,268 | $188 | DETACHD | 6 |
| 1830 16TH ST | $239,900 | 3 | 1 | 1,080 | $222 | DETACHD | 7 |
| 1541 11TH ST | $244,900 | 3 | 1 | 2,186 | $112 | DETACHD | 80 |
| 3477 FAIRVIEW WAY | $249,000 | 3 | 2 | 1,231 | $202 | DETACHD | 6 |
| 22580 S GRAPEVINE RD | $249,900 | 3 | 2 | 1,296 | $193 | RES-MFG | 40 |
| 6753 APOLLO RD | $254,900 | 4 | 3 | 2,300 | $111 | DETACHD | 126 |
| 1106 MEADOWVIEW CT | $274,950 | 4 | 3.1 | 2,668 | $103 | DETACHD | 108 |
| 4000 MAPLETON DR | $275,000 | 3 | 2.5 | 2,096 | $131 | DETACHD | 311 |
| 1766 REGENCY ST | $275,000 | 3 | 0.2 | 1,450 | $190 | DETACHD | 44 |
| 1686 19TH ST | $275,000 | 4 | 2 | 1,675 | $164 | DETACHD | 12 |
| 5642 RIVER ST | $285,000 | 3 | 2 | 1,401 | $203 | DETACHD | 5 |
| 4578 NORFOLK ST | $315,000 | 3 | 3 | 2,200 | $143 | DETACHD | 49 |
| 19451 WILDERNESS DR | $349,900 | 3 | 2 | 2,016 | $174 | DETACHD | 30 |
| 2592 HILLCREST CT | $349,999 | 3 | 2.1 | 2,475 | $141 | DETACHD | 43 |
| 2415 SW Michael CT | $375,000 | 3 | 2.1 | 2,466 | $152 | DETACHD | 18 |
| 19082 OLD RIVER DR | $389,900 | 3 | 1.1 | 1,713 | $228 | DETACHD | 53 |
| 19468 WILDERNESS DR | $399,000 | 5 | 3.1 | 3,077 | $130 | DETACHD | 282 |
| 3262 TOP VIEW CT | $424,900 | 4 | 4 | 3,292 | $129 | DETACHD | 228 |
| 22871 OREGON CITY LOOP | $425,000 | 4 | 2.1 | 2,912 | $146 | DETACHD | 12 |
| 1815 CARRIAGE WAY | $435,000 | 4 | 3 | 2,438 | $178 | DETACHD | 270 |
| 1093 EPPERLY WAY | $439,000 | 3 | 2.1 | 2,663 | $165 | DETACHD | 417 |
| 3226 WINKEL WAY | $484,900 | 4 | 3 | 3,146 | $154 | DETACHD | 204 |
| 2060 ALPINE DR | $494,800 | 4 | 2.1 | 2,865 | $173 | DETACHD | 190 |
| 2640 RENAISSANCE CT | $519,900 | 5 | 3.1 | 4,418 | $118 | DETACHD | 344 |
| 2288 Rogue WAY | $539,900 | 3 | 3.1 | 3,173 | $170 | DETACHD | 419 |
| 2805 POLO CT | $549,900 | 4 | 2.1 | 3,369 | $163 | DETACHD | 18 |
| 2652 BEACON HILL DR | $565,000 | 4 | 2.1 | 2,856 | $198 | DETACHD | 72 |
| 2731 Ridge LN | $569,900 | 3 | 2.1 | 2,347 | $243 | DETACHD | 166 |
| 3822 FAIRHAVEN DR | $575,000 | 4 | 2.1 | 3,306 | $174 | DETACHD | 186 |
| 1913 Sunburst TER | $589,900 | 4 | 2.1 | 3,850 | $153 | DETACHD | 134 |
| 2651 BEACON HILL DR | $648,950 | 4 | 2.1 | 3,307 | $196 | DETACHD | 49 |
| 4407 CALAROGA DR | $725,000 | 3 | 2.1 | 2,950 | $246 | DETACHD | 53 |
| 4035 S RIDGE CT | $749,900 | 5 | 3.1 | 4,118 | $182 | DETACHD | 7 |
| 2397 TAYLOR DR | $825,000 | 5 | 5 | 5,616 | $147 | DETACHD | 538 |
| AVERAGES | $349,596 | 2,223 | $159 | 158 |
Closed Sales
| ADDRESS | ORIGINAL PRICE | SOLD PRICE | % CHANGE | # BEDS |
# BATHS
|
TOTAL SQ FT |
$ PER SQ FT
|
TYPE OF HOME | DOM |
| 4395 NORFOLK ST | $224,900 | $196,500 | -13% | 4 | 2 | 1,475 | $133 | DETACHD | 85 |
| 5595 SUMMERLINN WAY | $229,000 | $209,000 | -9% | 2 | 2 | 1,276 | $164 | CONDO | 216 |
| 20575 S NOBLE LN | $239,900 | $225,000 | -6% | 3 | 2.1 | 2,201 | $102 | ATTACHD | 201 |
| 2191 HIDDEN SPRINGS CT | $324,900 | $229,000 | -30% | 4 | 3 | 2,534 | $90 | DETACHD | 276 |
| 1735 Dollar | $239,900 | $230,000 | -4% | 3 | 2.1 | 1,305 | $176 | CONDO | 297 |
| 2677 YORK ST | $365,000 | $237,400 | -35% | 4 | 2 | 2,608 | $91 | DETACHD | 468 |
| 3740 RIDGEWOOD WAY | $297,000 | $267,000 | -10% | 3 | 2 | 1,259 | $212 | DETACHD | 43 |
| 1312 SHERRI CT | $349,900 | $320,500 | -8% | 4 | 3 | 2,636 | $122 | DETACHD | 57 |
| 18350 LOWER MIDHILL DR | $339,900 | $328,000 | -4% | 4 | 2 | 1,967 | $167 | DETACHD | 203 |
| 1692 19TH ST | $335,000 | $340,000 | 1% | 4 | 2.1 | 2,004 | $170 | DETACHD | 30 |
| 1353 TROON DR | $374,950 | $365,000 | -3% | 4 | 2.1 | 3,121 | $117 | DETACHD | 106 |
| 2562 PIMLICO DR | $375,000 | $375,000 | 0% | 4 | 2.1 | 2,126 | $176 | DETACHD | 0 |
| 1895 DEANA DR | $399,000 | $385,000 | -4% | 3 | 2.1 | 2,386 | $161 | DETACHD | 103 |
| 6351 PALOMINO WAY | $399,000 | $407,000 | 2% | 4 | 3 | 2,690 | $151 | DETACHD | 133 |
| 23067 S BLAND CIR | $464,900 | $421,000 | -9% | 4 | 2.1 | 2,680 | $157 | DETACHD | 348 |
| 3125 WINKEL WAY | $524,900 | $450,000 | -14% | 5 | 2.1 | 3,119 | $144 | DETACHD | 182 |
| 1062 Meek WAY | $469,900 | $460,000 | -2% | 3 | 3 | 2,852 | $161 | DETACHD | 389 |
| 6310 HAVERHILL CT | $490,000 | $463,000 | -6% | 4 | 3 | 3,105 | $149 | DETACHD | 9 |
| 1201 12th ST | $499,000 | $469,900 | -6% | 4 | 2.1 | 2,801 | $168 | DETACHD | 176 |
| 2845 RAWHIDE CT | $543,950 | $508,950 | -6% | 4 | 2.1 | 3,347 | $152 | DETACHD | 262 |
| 2101 PEREGRINE CT | $750,000 | $560,000 | -25% | 5 | 3.1 | 5,000 | $112 | DETACHD | 626 |
| 1301 SW SCHAEFFER RD | $599,900 | $596,000 | -1% | 4 | 2.1 | 4,474 | $133 | DETACHD | 13 |
| 21357 WATERFORD PL | $749,900 | $635,000 | -15% | 4 | 2.1 | 3,317 | $191 | DETACHD | 81 |
| 889 SW HOFFMAN RD | $995,000 | $700,000 | -30% | 4 | 2.1 | 3,659 | $191 | DETACHD | 434 |
| AVERAGES | $440,867 | $390,760 | -10% | 2,664 | $150 | 197 |
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:
Hey Ron, welcome back from your short hiatus ! Hope you, personally, had a surge in sales activity during the last few weeks of April. The number of home sales over the past month have been extremely impressive. Most activity has been in the sub-$500K range, but all this activity has been positive as buyers rushed out to take advantage of the expiring tax credit and sellers priced their homes realistically. I’m going to say that we’ve hit bottom of the market with average of around $150/sqft. REO/Foreclosure homes would be priced less. My prediction is that we should see a lull in sales activity for the next few months, but that average pricing will probably not go much below $150/sqft. By next spring, I think we should start seeing a normal balance of sales activity in the Portland area. The big unknown in all of this is the inventory of foreclosed homes that the banks have not yet put on the market. I think the banks will be smart and trickle out the inventory slowly so as to not flood the market and further depress prices. So, from that standpoint, I think the pricing will be stable until the next year with no appreciation. Thanks again Ron for pulling together this data for us. Really appreciate it.