I was going through some old sales records of mine, and ran across the list of 36 Lake Oswego homes I sold in 2005. Prices ranged from $330,000 for a home on Blackforest to $1,330,00 on Glenmorrie.
You could have moved onto coveted North Shore Road for $1,125,000. Currently there is a lakefront house for sale there listed at $4,995,000.
And I sold a home on 10th Street in the First Addition for $589,900. Since then the house has been torn down and is now estimated at $2,500,00.
We moved to Lake Oswego in 1985, before it was “discovered.” We were able to buy a waterfront home (on the canal) for $118,000. You can’t find anything on the canal today under $1,800,000.
But the good news about Lake Oswego is that, while the price of entry has increased, home appreciation is still a real thing and an added benefit to living here. Just last year our son bought a home in the First Addition and he has already seen it go up in value by at least $200,000.
I’ve always said the average appreciation rate for homes in Lake Oswego is around 5%. Of course, we’ve seen crazy times like in 2021 when homes appreciated by 24.3% and in 2016 by 16.4%. But slow and steady is more the norm and to be expected when you live in Lake Oswego.
Benjamin Franklin is known to have said, “… in this world nothing can be said to be certain, except death and taxes.” If you live in Lake Oswego, you can “and home appreciation.”
If you’re interested in finding out what your Lake Oswego home is worth, or are considering buying a home in Lake Oswego, give one of us a call. We’d love to put our expertise to work for you and help you start enjoying so many of the benefits of living in Lake Oswego!
52 Reasons to Love Lake Oswego 