What do last month’s numbers regarding sales trends in the Lake Oswego housing market tell us?
They reinforce what we’ve been hearing—that the number of homes being sold is down compared to last year with 40 homes sold in Lake Oswego this April compared to 66 in April of 2022. Year-to-date sales are also down by 42% with 118 sold so far in 2023 as opposed to 204 during the same time in 2022. Sales volume is down too by 21% with $59,436,700 worth of real estate being sold in April of this year compared to $75,087,190 a year ago.
But when you look at the comparisons to the month before, you see the opposite trend. Twenty-five percent more homes were sold in Lake Oswego in April than in March, and the sales volume was 62% higher.
AND the median sales price has gone up 25% this year from $959,628 in April of 2022 compared to $1,201,750 in April of 2023. The increase is even greater when you look back just one month to March with an increase of 40% over the median sale price of $858,568.
So, despite the lower inventory and higher interest rates, it appears that the spring homebuying season is beginning to bloom in Lake Oswego and the greater Portland metro area. Tighter inventory is keeping houses appreciating and the sale-to-list price ratio is still high at 98%.
Something we are seeing that we haven’t seen in a while which is good news for buyers is a buyer’s market in the $1.5M to $2M price range and a balanced market in the $2.5M to $3M and $3.5M to $4M price range. That determination is made based on months of inventory, which refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.
On the ground, we are seeing activity pick up. Just in the last week, we’ve had two California buyers reach out considering a move to Lake Oswego, in addition to local residents looking to move for a variety of reasons. And we are not alone in that as we see that happening with our colleagues as well.
So, no matter what side of the buy/sell decision you may be on, Lake Oswego continues to be a smart move. Prices are holding and so is demand. But making that decision to go or stay is a very personal one, based on your unique circumstances. If we can help in that decision-making process by providing you with the information you need regarding the market value of your current home, homebuying options in Lake Oswego, lenders to talk to, home remodelers to meet with, please reach out. My daughter, Riley, and I take pride in providing the best level of service designed to do what’s best for our clients. Feel free to give us a call at 503.939.9801, email at kevin.costello@cascadehassonsir.com or riley.costello@cascadehassonsir.com and or check out our website. We’d love to make your next move your best one.
Lake Oswego’s fabulous Farmers Market returns Saturday, May 13 and runs through October 7 from 8:30 a.m. to 1:30 p.m. at Millennium Plaza Park.
Our market is one of Lake Oswego’s star attractions for many of the reasons I’ve touted in previous blogs from the scenery to the selection to the location right in downtown Lake Oswego, making it a perfect jumping-off point for exploring the rest of the city.
But, what happens if you are out of town on Saturday? Or if your kid has a soccer tournament in Hillsboro and you can’t make it?
Luckily, there are other markets in the Portland metro area offered on other days of the week so here’s a partial list of ones closest to Lake Oswego to the rescue!
SUNDAYS
TIGARD FARMERS MARKET. This market isn’t as large as Lake Oswego’s but it’s got enough variety to make you feel like you got your market fix in for the week. Runs May through October from 9:00 a.m. to 1:30 p.m. in its new location in Universal Plaza, 9100 Burnham Street.
MONDAYS
COME THRU MARKET is an incubator market centering Black and Indigenous Farmers and Makers and is open on the first and third Mondays in May through October from 3:00 p.m. to 7:00 p.m. At 831 SE Salmon Street, it’s only about eight miles from Lake Oswego if Monday is your day!
TUESDAYS
FARMERS MARKET AT OHSU is in its 16th season and features about 30 vendors every Tuesday from 10:00 a.m. to 2:00 p.m. June through September. Located in front of Mackenzie Hall, off SW Sam Jackson Park Rd.
WEDNESDAYS
WEDNESDAYS IN WILLAMETTE SUMMER MARKET. You’ll find the usual produce as well as artisan foods, handmade goods, cideries, wineries, distilleries and mixed cocktail vendors. Wednesdays from May 17 through September 13 from 4:00 p.m. to 8:00 p.m. at 1785 Willamette Falls Drive in West Linn.
THURSDAYS
SOUTH WATERFRONT FARMERS MARKET. This mid-size market is a perfect pick-me-up for after work with all the vendors you come to expect to fill your baskets. Opens Thursday, June 1 and runs through October from 2:00 p.m. to 7:00 p.m. at 3508 S. Moody Avenue in Elizabeth Caruthers Park.
FRIDAYS
CORNELIUS FARMERS MARKET. This is probably the closest market to Lake Oswego on Fridays. Last season they averaged about 20 vendors and plan to run from 4:00 p.m. to 8:00 p.m. every Friday beginning June 2 through September 29 at 1370 N. Adair Street, behind the Cornelius Public Library.
HONORABLE MENTION. No Portland area Farmers’ Market listing would be complete without mentioning the Beaverton Farmers’ Market that is also held on Saturdays. This market is one to be experienced at least once – we usually include it on our visitors’ itinerary because of its variety, size and quality. Open now through November from 8:30 a.m. to 1:30 p.m. at 12365 SW 5th Street in Beaverton.
The same goes for the Portland Farmers Market with several locations on different days of the week. Saturdays the flagship market greets close to 10,000 visitors and can be found at SW Park and Montgomery. Sundays find the King Market on NE 7th and Wygant. Shemanski Park at SW Park and Main hosts the Wednesday Market as does the Kenton Market at N. McClellan and N. Denver. The Lents International Market covers Sundays at SE 91st and Foster.
Be sure to subscribe to my blog to stay up-to-date on all the things to do in and around Lake Oswego. Just click the “Sign me up” button in the top right-hand column and receive weekly updates to your inbox. And if you’re ever looking to move to Lake Oswego, please give me a call at 503.939.9801 and/or email me at kevin.costello@cascadehassonsir.com. I’d love to show you around and share my 30+ years’ experience living in Lake Oswego and helping clients make Lake Oswego their home.
If Walls Could Talk: How to Research the History of Your Home. Family trees aren’t the only family history we can research. Turns out the homes we live in have a history too and local researcher Char Green will take you through the steps of how to uncover it, including valuable tools for finding and then organizing your information into a cohesive narrative. Wednesday, May 3 at 7:00 p.m. Brought to you by the Oswego Heritage Council and held at the Lake Oswego Public Library, 706 Fourth Street.
Lake Oswego Lake Run. The popular Lake Run returns this year in an all in-person event with 10K runners taking off at 8:00 a.m., 5K entrants at 8:15 a.m. and Kids’ Dashers at 10:00 a.m. Presented by the Northwest Housing Alternatives, the run is a fundraiser to support their efforts to build new homes and opportunities for seniors, families, veterans and people with special needs across Oregon. Register online.
Village Flower Baskets. These beautiful additions to our city’s streets will be hung in May and delight us all summer long. If you’d like to contribute to support this wonderful amenity we all get to enjoy, make your donation here.
Pints from the Past: Pacific Northwest Brewery Women. Women’s roles in Oregon’s beer history have been overlooked but Tiah Edmunson-Morton is setting out to change that with her work curating the Oregon Hops and Brewing Archives. Learn about the 19th century women who ran brewery businesses and the women of the 20th and 21st century who continue that work. Offered by the Lake Oswego Public Library in cooperation with the Lake Theater and Café. Admission is free and no ticket is required, although food and drink purchase is encouraged to offset the cost to the Lake Theater. Tuesday, May 9 from 6:30 p.m. to 8:00 p.m. Doors open at 6:30; presentation starts at 7:00 p.m. 106 N State Street. For more information call 503.534.4237.
Library Visioning Task Force Work Session. The City of Lake Oswego has embarked on a Library Visioning Process to shape a community vision for the Lake Oswego library of the future. And YOU are invited to offer your input by completing a 3-minute survey, idea board, and/or attend work sessions such as this one. Thursday, May 11 from 5:00 p.m. to 8:00 p.m. held virtually via Webex. Contact ndiamond@lakeoswego.city by 5:00 p.m. on the 10th for meeting information.
Lakewood Center Associates Re-Runs Accessory Sale. The Lakewood Center Associates are hosting a women’s accessory sale featuring gently used and unique accessories including handbags, hats, scarves, shoes and more. May 12-13 from 10:00 a.m. to 4:00 p.m. at the Lakewood Center for the Arts, 368. S. State Street.
Lake Oswego Farmer’s Market. Lake Oswego’s popular market returns for its summer run! Enjoy a wide variety of produce, meats, seafood, nuts, cheeses, artisan baked goods, jams, jellies, salsas, hummus, nursery items, hot foods, artisan crafts and more. Kicks off Saturday, May 13 from 8:30 a.m. to 1:30 p.m. at Millennium Plaza Park, 200 1st Street.
Living Well Dance featuring the Millennium Dance Band. Enjoy the sounds of the “Big Bands” from the 1930s, 40s and 50s. All ages invited, 14 and under must be accompanied by an adult. $7/person at the door. Christ Church Parish, 1060 Chandler Road.
Wills & Trust for the Busy Parent. Lake Oswego attorney Michelle-Shari Kruss will cover important points for parents planning for their future. Wednesday, May 17 from 5:30 p.m. to 6:30 p.m., Lake Oswego Public Library, 706 Fourth Street or live stream here: https://www.youtube.com/watch?v=CSVN0AAONnU(link is external)
The 10 most common estate planning mistakes parents often make while drafting wills and trusts for their children, inheritance – and how to avoid them.
How to ensure your childcare/babysitter has the ability to authorize emergency medical care if you can’t be reached.
Kids off to college? If your 18+ has a health crisis, privacy laws mean you can no longer make medical decisions for them – without the correct Power of Attorney.
Long-term strategies to minimize Oregon estate taxes through the use of Disclaimer Trusts.
Various Powers of Attorney in case your spouse or children need you for a medical or financial decision and you are unavailable.
2023 Asian American Pacific Islander Heritage Month Celebration. Join Lake Oswego Parks & Recreation to celebrate Asian American Pacific Islander heritage month in partnership with local nonprofits LO for LOve(link is external) and Respond To Racism(link is external). Peruse food vendors, artisans and nonprofit booths with crafts and activities for youth from 12-1p. Main program begins at 1pm and will include a keynote address from Beaverton City Council member Nadia Hasan(link is external), performances from Tahitian dance group Anavai O Te Ora(link is external), martial arts demonstrations from World Champion Taekwondo & Grand Master Kim(link is external), remarks from LO for LOve’s Kimvi Tu and more! Sunday, May 21 from 12:00 p.m. to 3:00 p.m. Millennium Plaza Park, 200 1st Street.
Walking Through Portland With a Panther: The Life of Mr. Kent Ford. All Power! Enjoy a free showing of this solo play presented by Respond to Racism, the Lake Oswego Public Library and the Lakewood Center for the Arts. The play celebrates the life of Mr. Kent Ford, co-founder of Portand’s chapter of the ’60s-era black empowerment organization. The event is free but you must reserve your tickets online.
2023 Memorial Day Commemoration. Join the City of Lake Oswego and Lake Oswego Veterans Memorial(link is external) to honor the fallen whom have sacrificed their lives for our nation. The event features a keynote address from Sandra Spatz-Wiszneauckas. A Lake Oswego resident, she served in the US Marine Corps from 1966-1969 and works as a pivotal member of the Women’s Marine Corps Association. Spatz-Wiszneaukas also co-founded the 641 Chapter of Vietnam Veterans of America in her former hometown of Silver Springs, Maryland, that helps maintain the Vietnam Memorial Wall and promotes legislation beneficial to Veterans. The event program also includes remarks from Fire Chief Don Johnson, a flyover from West Coast Ravens, a Presentation of Colors and 21-gun salute from the Lake Oswego Honor Guard, and more. Monday May 29 from 11:00 a.m. to 1:00 p.m., Foothills Park.
Teen Lounge Open House. Here’s an opportunity for future 6th graders to meet and greet and discover the perks of Junior High – The Teen Lounge! Open to all parents and students currently in 5th through 11th grades. Stop by for tours, free smoothies and a raffle. Friday, May 26 from 4:00 p.m. to 7:00 p.m. 1060 Chandler Road.
More homes will be coming on the market in May too so if you’re in the market to move to Lake Oswego, give me a call at 503.939.9801, email me at kevin.costello@cascadehassonsir.com and/or visit my website. I’d love to put my 30+ year’s experience as a Lake Oswego Realtor to work for you!
If you run anything from a 5:59 minute/mile to a 13:23 minute/mile, then you’ll be right at home with the pack of runners signed up to participate in this year’s Lake Run, on May 6, hosted by Northwest Housing Alternatives.
That 5:59 minute miler came in first last year in just 37 minutes and 11 seconds and the last person to cross the finish line did it in 1 hour, 23 minutes, and 7 seconds.
So, as you can see, it takes all kinds to make the Lake Run a success and this year, they’re asking you to not just participate but donate too. A food drive, running concurrently, will benefit seniors and families living at Northwest Housing Alternative’s affordable housing properties. Many of the residents served by NHA are experiencing foot insecurity due to rising inflation and reductions to food programs, making the food drive even more important this year. Donations can be dropped off the day of the race or at both Lake Oswego New Seasons stores, 3 Monroe Parkway and 1377 McVey or Albertson’s at 16199 Boones Ferry Road between April 23 and May 7.
If you plan on participating, here are some things you should know:
The race offers three events: a 10K starting at 8:00 a.m., a 5K starting at 8:15 a.m. and a Kids’ Dash for ages 3 and up taking off at 10:00 a.m.
Registration is online and is $55 for the 10K, $50 for the 5K and $15 for the Kids’ Dash and includes a t-shirt this year.
All participation is in-person this year – there is not a virtual option.
To prep for the 10K, you might want to practice some hill runs, with the highest elevation coming on South Shore at the 2.9 km mark and preceded by a 17% grade as you start up the McVey climb.
Luckily, there are lots of distractions along the course, beginning with the gorgeous scenery as you wind your way around Oswego Lake, the volunteers and neighbors who come out to cheer you on and the pit stops along the way.
Last year over 1,000 people participated in the event, raising $70,000 for NHA. This year’s goal is $75,000.
Enjoy the family-friendly festivities afterwards at Millennium Plaza Park featuring face painting, kids’ games, llamas, a plant sale and food carts.
Read some of my previous blogs on the Lake Run to find out what all the fuss is about.
And subscribe to my blog to stay up-to-date on what’s happening in Lake Oswego by clicking the “Sign me up” button in the top right-hand column.
Rumor has it that more houses will be coming on the market in Lake Oswego and the Portland metro area in May. Time will tell if the rumor mill is correct.
I know we have some sellers who are waiting for Spring to list and since that is the real estate industry’s traditional “boom” time, we are inclined to think that buyers may find themselves with more options soon.
Who are those buyers? A surprising (or perhaps not so surprising) number are coming from Portland. Between July 2021 and July 2022, Multnomah County lost 10,000 residents, the biggest decline of any county in our state. It seems a combination of high taxes, high housing prices and increased homelessness has motivated the move for most, many of whom have fled across the border to Clark County in Washington, but many, who are not deterred by high housing costs, are moving to Lake Oswego.
Residential real estate isn’t the only market being sought out by Portlanders. The Willamette Week just called Kruse Way in Lake Oswego “Portland’s New Main Street,” as businesses are flocking to our city for many of the same reasons as residents.
So the demand is here. Now we just need the supply to match it. And as you can see, that supply has been lagging.
During times like these, it’s even more important to work with a hyper-local Realtor who is plugged into the local housing market and a network of professionals who often have an inside track to what may be coming on the market. Many times the national headlines don’t speak to what’s really happening in your neck of the woods.
For example, just this week the Oregonian reported that “even a drop in home prices hasn’t proved enough to lure buyers” into the housing market. If so, how do you explain a local Realtor who lost out in a bidding war involving 12 other buyers where the house sold for $50,000 over asking? The explanation is this—well-priced homes in desirable areas are in demand. I can’t think of a more desirable area than Lake Oswego so sellers should breathe easy and buyers should be working with a local Realtor whose expertise is Lake Oswego.
Having lived and worked as a top performing Realtor in Lake Oswego for over 30 years, I’d love to put my experience and connections to work helping you make your next move. Feel free to give me a call at 503.939.9801, email me at kevin.costello@cascadehassonsir.com and/or check out my website.
While the rest of the United States may dedicate one day to trees (the last Friday of April is national Arbor Day), Lake Oswego has dedicated the entire month to these hard-working members of our community.
Hard-working, you ask? Yes, according to Lake Oswego’s Urban and Community Forestry Plan Update, “the ecosystem services of Lake Oswego’s urban forest are immense, including nearly 270 thousand pounds of air pollutants removed annually, 155 million gallons of avoided annual stormwater runoff, and storage of 201,732 megagrams of carbon.”
In addition, one large tree can provide a day’s supply of oxygen for up to four people, and trees lower surface and air temperatures by providing shade and provide vital wildlife habitat.
So it’s no wonder the city has scheduled a host of activities for us to celebrate our beloved tree canopy.
NATURE CRAFT WORKSHOP Friday, April 14, 9 a.m. to 1:00 p.m., Luscher Farm Bunkhouse Classroom, 125 Rosemont Road
Children ages 8 to 12 can mix up plant-based watercolor paints, play with pressed flowers, and use treasures found in nature to get crafty in this no-school-day workshop. Fees apply. Pre-registration is required and capacity is limited. Visit www.ci.oswego.or.us/parksrec/parks-recreation-classes-activities and register for activity #25616.
SUSTAINABILITY RESOURCE FAIR Saturday, April 15, 10 a.m. to 1 p.m., Lakeridge Middle School, 4700 Jean Road
Wondering how you can make a difference when it comes to building a sustainable future for our city? Plan on attending Lake Oswego’s second annual Sustainability Resource Fair and connect with community members and organizations who are advancing sustainability in our city. Find opportunities to volunteer and learn simple ways you can help protect the environment.
SPRINGBROOK PARK PRESCHOOL NATURE WALK Tuesday, April 18, 10:45 to 11:45 a.m., Springbrook Park, Park at Uplands Elementary School, 2055 Wembley Park Road, meet at the park kiosk behind the playground
Feed your child’s curiosity with this FREE nature walk led by enthusiastic guides from Friends of Springbrook Park as they teach preschoolers what trees do to thrive and survive. Children must be accompanied by an adult. Contact Anne Lider at 503.701.2291 or anne.lider@gmail.com if you have questions.
OAK WOODLAND RESTORATION Saturday, April 22, 10 a.m. to 12 p.m., Park at 14903 Westlake Drive
Celebrate Earth Day by joining Oswego Lake Watershed Council for a morning of land tending and restoration at Westlake HOA Oak Woodland. This beautiful oak woodland habitat is home to 300-year-old Oregon white oaks and a diversity of wildlife. Volunteers will learn about Oregon white oak ecology, indigenous land tending and the cultural value of oak ecosystems, and help remove invasive species and plant natives. For additional information and free registration, visit www.solveoregon.org/opportunity/a0C8W00000VC2HP/oak-woodland-land-tending-at-westlake(link is external).
STEWARDSHIP WORK PARTIES Over 460 acres of natural area parks and open space in the City contribute to important habitat for plants and animals, watershed and stormwater management and health. These park natural areas also provide places for the community to connect with nature. Join a friendly Friends of the Parks volunteer habitat restoration work party during Arbor Month to help keep our park natural areas and open spaces healthy and beautiful:
Sunday, April 16, 1 to 3 p.m., Hallinan Woods, Parking on Hallinan Street or Hemlock Street Join Friends of Hallinan Heights Woods to remove invasive species in the recently acquired natural area in Hallinan Woods. Questions? Barbara Fisher at 503-888-2244 or lanefisher108@comcast.net(link sends e-mail)
Saturday, April 22, 10 a.m. to 12 p.m., Cooks Butte Park, Parking near 2286 Palisades Crest Drive Help Mother Nature with a spring clean-up at this 42-acre natural park. We’ll remove invasive species and pick up tree debris so native species can thrive. Questions? Contact Radu Stancescu at radu_stancescu@yahoo.com(link sends e-mail)
Sunday, April 23, 1 to 3 p.m., Springbrook Park, Parking at Uplands Elementary School, 2055 Wembley Park Road. Meet at the park kiosk behind the playground. Join Friends of Springbrook Park to remove invasive species and help restore habitat in this 52-acre natural park. Questions? Contact Laura Tanz at 503.702.7937 or blmjt2205@gmail.com(link sends e-mail)
Volunteers MUST fill out and bring the Stewardship Waiver available online at lo-stewardship.org(link is external). Dress for weather and wear closed toe shoes. Bring gloves, your favorite clippers and water to drink. Restrooms are not available. Stay home if you have symptoms of any contagious illness or had recent contact with someone exhibiting symptoms of any illness. Maintain six feet distance from others. Wash hands before and after the work party.
FARM SATURDAY Saturday, April 29, 10 a.m. to 2 p.m., Luscher Farm Bunkhouse Classroom, 125 Rosemont Road Children ages 5 to 12 are invited to spend Saturday morning at Luscher Farm, creating crafts to celebrate Arbor Month and Earth Day, partake in fun farm activities, and learn about organic gardening. Fees apply. Pre-registration is required and capacity is limited. Visit www.ci.oswego.or.us/parksrec/parks-recreation-classes-activities and register for activity #25870.
TREE PRUNING WORKSHOP Sunday, April 30, 10 a.m. to 12 p.m., Foothills Park Pavilion, 199 Foothills Road This is Lake Oswego’s version of “Everything you wanted to know about pruning but didn’t know who to ask.” The Who is ISA Board Certified Master Arborist Damon Schrosk of Treecology, Inc. He’ll explain all you need to know to give trees and shrubs in your yard their best chance for thriving. Limited to 40 Lake Oswego residents so visit www.ci.oswego.or.us/planning/workshop-series or call 503-635-0290 for free registration.
LAKE OSWEGO PUBLIC LIBRARY Celebrate Arbor Month with a book and a kid’s craft! Throughout April, the Lake Oswego Public Library, located at 706 4th Street, will have tree-themed books on display and offer a craft for kids using repurposed puzzle pieces to make a beautiful tree, at the Art Bar on the lower level. The Art Bar is open anytime the library is open. Arbor Month Art Contest entries will be on electronic display from mid-April through mid-May. Open daily: 1 to 5 p.m. Sunday, 10 a.m. to 7 p.m. Monday-Thursday, and 10 a.m. to 5 p.m. Friday-Saturday.
SOIL YOUR UNDIES FOR SCIENCE Life underground is just as biodiverse and complex as the plant communities that live above, and Oswego Lake Watershed Council wants to help residents measure and nurture that life. It is as easy as burying a pair of cotton undies for 60 days! Celebrate Arbor Month by participating in the 3rd Annual Soil Your Undies challenge! Sign up to receive your challenge kit, which includes a brand-new pair of cotton undies for you to bury in April and unearth in July. Participants can follow along with biweekly soil health tips and experiments to try out while the soil microbes are feasting on all of the buried undies. Learn more about the challenge and register here: https://www.oswegowatershed.org/soil-your-undies-2023(link is external).
BE AN LO TREE HERO Team up with the Oswego Lake Watershed Council (OLWC) and your neighborhood’s Urban Forest Committee to be an urban forest hero by removing invasive ivy from your trees and property. OLWC offers tools, education and leadership. Find out more at www.oswegowatershed.org(link is external).
GNOMES IN NATURE HUNT The wily Stewardship Gnomes, Blossom, Greenie and Oak, will hide in three natural area parks from April to October, moving to different parks on the first of each month. Come out and find them, you may win a prize! Here’s what to do:
Find three Gnomes hiding in three different natural area parks each month. In April, they will be hiding in Foothills Park, River Run Park and Springbrook Park.
Take a photo of you, your dog or anything else by a gnome.
Tag #LOparksgnomes and post photos on social media for a chance to win your very own garden gnome in October. Visit lo-stewardship.org(link is external) each month to learn where the Gnomes in Nature have moved and discover fun facts about the City’s 460-acres of natural park areas, native plants, wildlife and birds.
NOMINATE A HERITAGE TREE Do you have a favorite tree or group of trees? If it is of landmark importance—because of its age, size, species, horticultural quality or historic significance—you can nominate a tree or group of trees for Heritage Tree designation with permission from the property owner. Check out the Heritage Tree Story Map, learn about the City’s Heritage Tree Preservation Grant Program, and find a nomination form online at www.ci.oswego.or.us/planning/heritage-tree-program.
Trees are just one of the reasons to love Lake Oswego. Subscribe to this blog to learn about many more. And if you’re already in love with Lake Oswego and want to move here, give me a call at 503.939.9801, check my website, and/or email me at kevin.costello@cascadehassonsir.com. I’d love to put my 30+ years as a Realtor living and working in Lake Oswego to work to help you make that move.
1. What’s the average cost of a home in Lake Oswego? Over the last twelve months, the average cost of a home in Lake Oswego was $1,277,166 with the lowest priced home at $440,000 and the highest at $6,900,000.
2. Can I live on the lake? Yes you can. There are approximately 750 waterfront homes on Oswego Lake. Current waterfront homes for sale range from $3,595,000 to $9,900,000.
3. Do you have to live on the lake to be able to use the lake? There are lots of options for residents to access the lake even if they don’t own a waterfront home as mentioned in one of my earlier posts. One of the most popular ones is buying a home with easement rights. There are close to 3,000 homes deeded lake access by joining one of 20 lakefront easements. Each easement is managed separately by its members and each only has a limited number of spots. Buying a home with easement rights does not guarantee you’ll have access—you may have to sign up on a waiting list for an opening before joining.
There are other options if you are a current, paid, easement member. You can moor a boat at LO Landing, located in the two-story office building next to the LOC marina. They may also have a waiting list, but typically their slips turn over more rapidly than those at the easements. You can reach them at 503 545-8870 or lo500@comcast.net
You also have the option to “day use.” Limitations are:
You must pull your boat from the lake prior to the LOC Marina’s closing time (7 pm nightly during the summer).
The LOC does not have parking for your truck or trailer on the premises.
Boats entering the lake must either have an intact and unaltered wire clip or be decontaminated prior to launch.
4. What are the best neighborhoods? My general answer to that is you can’t go wrong in Lake Oswego. Unlike other cities, neighborhoods aren’t divided between safe or unsafe, good schools or not good schools. Lake Oswego has an exceedingly low crime rate no matter where you live.
The school district itself as well as its teachers were just ranked the best in the state of Oregon by Niche in its 2023 rankings based on data from the Department of Education. And all ten of its individual schools also came out in the Top 10 in each of their grade-level categories. School spirit runs high, however, so if you talk to kids and parents, you’ll probably find differences of opinion.
But like I said in the beginning, you can’t go wrong. Check out some of my earlier blogs for more information on particular neighborhoods in Lake Oswego.
5. What are the best schools? Excuse my redundancy, but my general answer to that is you can’t go wrong in Lake Oswego. The Lake Oswego School District was named the best school district in the state of Oregon by Niche, in its 2023 rankings based on data from the U.S. Department of Education. And all ten of its individual schools also came out in the Top 10 in each of their grade-level categories.
My advice is to visit the schools you are considering and see if you child can shadow a student to get a feel for whether one setting or another is the right fit.
6. Are Lake Oswegans pretentious? This is a question that shows up on several of the online forums where people are considering moving here. Much of that reflects the stereotype afforded a more affluent community like Lake Oswego.
A market analysis for Lake Oswego indicated that the median household income is $121,540, the median age is 48.4 and 71.9% hold a four-year college degree or higher.
Does more money mean more pretentious? My experience has been that it’s not a given. In fact, I have seen many more examples of Lake Oswegans using their resources to be generous rather than pretentious. I remember attending a Lakeridge High School choir concert where parents raised over $2,200 in a pass-the-hat donation in support of visiting Jefferson High School’s Choir. Read one of my previous blogs for other examples of how the community rises to the occasion to meet needs in and around them.
7. Why would I live in Lake Oswego over other Portland area suburbs? Lake Oswego is not your sleepy suburb—it’s a vibrant community with engaged citizens and active city government invested in a mission to enhance the quality of life for its residents. As a result there are a host of resources from extensive bike and pedestrian paths to recreational opportunities to excellent school district to a thriving downtown core infused with retail, cultural, entertainment, and artistic opportunities to a record-shattering library program to….the list goes on and on which is the WHY of why you should pick Lake Oswego as your home.
8. Why should I live in Lake Oswego when I can get more house for less money elsewhere? Read the answer to the above question–you get what you pay for. When you buy a home in Lake Oswego, you are buying much more than just a house. You are buying into a community, a lifestyle, and an investment. Appreciation is about 8.1 percent each year, although there were significant upswings in 2016 (16.4 percent) and 2006 (19 percent). Even though there is a large cost of entry, there is a proven return on the backside that is worth it.
If you have questions about moving in, out or within Lake Oswego, give me a call at 503.939.9801 or check out my website. I’d love to put my 30+ years of experience as a Realtor in Lake Oswego to work helping you with your next move.
TRILLIUM FESTIVAL and NATIVE PLANT SALE. Enjoy this free family event offering a suite of educational stations around the Nature Center and trails at Tryon Creek. The Native Plant sale features native plant species like camas lily, red flowering currant and our local Western White Trillium. Get your backyard questions answered from local plant experts and learn more about the regional Backyard Habitat Certification Program. Saturday, April 1, 10:00 a.m. to 3:00 p.m. 11321 SW Terwilliger Blvd, Portland.
STORYWALK OPENING DAY. Take a walk through the Children’s Garden with librarian Hilary to read the newest StoryWalk® installation. All Around Us by Xelena González and illustrated by Adriana M. Garcia draws the reader in with intricately complex drawings and a movingly simple story about the circle of life. The story will be available during Luscher Farm’s open hours for the entire month. Saturday, April 1 at 2:00 p.m. Luscher Farm, 125 Rosemont Rd., West Linn. 503.697.6580
LAKE OSWEGO READS. The Lake Oswego Reads program has filled the April calendar with all kinds of free activities from book discussions to film screenings to craft workshops for kids. Check out my previous blog as well as the complete schedule online.
TREE PLANTING PARTY. Kick off Lake Oswego Arbor Month with a tree planting party at Iron Mountain City Park, 2401 Iron Mountain Boulevard. Parks and Recreation staff will be on hand to talk about tree selection, planting, maintenance and proper planting techniques while helping to install new trees in the park. Dress for the weather. Pre-registration is required with capacity limited to 25 Lake Oswego residents. Call 503.635.0290 to register. Saturday, April 1 from 10:00 a.m. to 12:00 p.m.
SUSTAINABILITY RESOURCE FAIR. In celebration of Earth Day, the City of Lake Oswego Sustainability Advisory Board, Lake Oswego School District, Lake Oswego Sustainability Network, and Oswego Lake Watershed Council are holding the second annual Lake Oswego Sustainability Resource Fair. Learn what diverse organizations across our community are doing to advance sustainability, find opportunities to volunteer and participate in educational programs, connect with neighbors, and learn simple ways you can help protect the environment, save money, and live well. Saturday, April 15, 10:00 a.m. to 1:00 p.m., Lakeridge Middle School, 4700 Jean Road.
BUNCO BEACH NIGHT. Calling all Bunco players from beginners to pro to join in a night full of fun and prizes, all with a tropical Hawaiian theme at the Lake Oswego Adult Community Center. Feel free to dress in your Luau best! Light refreshments will be provided and one drink ticket is included in the price. Reservations are $20/Resident; $25/Non-Resident for ages 21 and up. April 20 from 6:00 p.m. to 8:00 p.m. Register online or call 503.635.3758. 505 G Avenue.
DRUG TAKE BACK EVENT. Dispose of unwanted or expired prescription medicines properly at the city’s drive-through drug take-back event. Look for more information as to what’s required online. Saturday, April 22 from 10:00 a.m. to 2:00 p.m. at the Adult Community Center, 505 G Avenue.
Keeping you informed about Lake Oswego is what I like to do, and that includes providing on-the-ground updates about the Lake Oswego real estate market. If you have questions about what your home is worth, whether this is a good time to buy or sell, or how to move to Lake Oswego, give me a call at 503.939.9801 or email me at kevin.costello@cascadehassonsir.com. I’m here to help and have been for over 30 years. Let me put that experience to work for you.
The Lake Oswego Reads program is off and running in April with a calendar full of free activities to educate, enlighten and entertain you. This year’s book selection, The Seed Keeper by Diane Wilson spans several generations as it follows a Dakhóta family’s struggle to preserve their way of life. Be sure to check out the complete schedule online but here are a few highlights:
Saturday, April 1 Kick-Off. Drop in at the library between 11:00 a.m. to 2:00 p.m. and enjoy an interactive loom activity, a beautiful sound bath of Native American flute music, inspirational stories of connection with Jan Michael Looking Wolf, a presentation on Indigenous foods while sampling delicious salmon, a children’s book read aloud with Karen Kitchen (Osage Nation) and pick up your pair of free, brand-new undies to learn about healthy soil in partnership with Oswego Lake Watershed Partnership Council. 706 Fourth Street.
Monday, April 10. Professor Eva Guggemos peels back the curtain on Oregon’s own boarding school system’s legacy of trauma for Indigenous children. The Chemawa Indian School was one of the first residential schools in the nation and was designed to break students’ ties to Native cultures, languages and beliefs. Learn why the school was founded, what daily life was like for its students, the work that is being done to document deaths and burials at the school, and how we weave this reality into our understanding of our history and that of the Indigenous people. Lake Oswego Library, 706 Fourth Street, 5:30 p.m.
Thursday, April 13. Join a screening of the documentary, Blood Memory, a story of removal and return that documents America’s Indian Adoption Era during which one-third of children from tribal communities nationwide were displaced from their families as part of an assimilative movement. The film runs for 1 hour and 47 minutes. Discussion guides with in-depth background information will be made available to all attendees. The Springs Theater at Lake Oswego, 3900 Kruse Way Place, 7:00 p.m.
Saturday, April 15. Weaving Workshop for Kids. Woven baskets served many an important purpose for Native American cultures with each tribe using different materials native to the area to make their own. The library will provide paper plates and a variety of yarns and fibers so children can create woven baskets of their own. For ages 5 and up. Lake Oswego Library, 706 Fourth Street, 11:00 a.m.
Wednesday, April 19. Westlake Oak Woodland and Native Plant Walking Tour. Join the Oswego Lake Watershed Council for a walking tour of local seeds, soils, flowers, and trees while connecting with the land and relearning local foods, plants, and medicines. On this family-friendly walking tour, you will observe wildlife, wildflowers, native flowering shrubs, snags, oak trees and more. You will also learn how this woodland fits into larger systems such as land tending, climate change, fire, active management, food systems, watershed health, upland successional processes, and partnerships. Pre-registration required. The Church of Jesus Christ of Latter-day Saints, 14903 Westlake Drive, 11 a.m. – 12:30 p.m.
Thursday, April 20. Trivia Night. Join hosts, Jamie and Carissa, for another Thursday night of good old-fashioned brain games. You’ll be challenged by trivia questions related to The Seed Keeper and have a chance to win a Powell’s gift card! Pre-registration required. Online, 7:00 p.m.
Saturday, April 22. Seed Art with Cathy Camper. Seed Art, or what is sometimes called “crop art,” is a branch of mosaic art that is alive and well and still going strong after two-three thousand years. Camper’s iconic seed art has won awards and her work has been featured in Simple Times: Crafts for Poor People, by Amy Sedaris. Recommended for grades 3 and up. Lake Oswego Library, 706 Fourth St., 11 a.m.
Sunday, April 23. Gather: The Documentary Screening. Learn about the growing movement amongst Native Americans to reclaim their spiritual, political and cultural identities through food sovereignty, while battling the trauma of centuries of genocide. Lake Oswego Theater and Café, 106 N. State Street, 5:00 p.m.
Tuesday, April 25. Author Diane Wilson will discuss her novel, The Seed Keeper, with fellow author, Robin Wall Kimmerer. Ways to Watch: Lakeridge High School Auditorium at 7:00 p.m. This event is free, but does require tickets which were given away last month. TVCTV will film the event for livestream and later viewing. Lakeridge High School Auditorium, 1235 Overlook Drive.
Keep track of your participation by completing the online passport and then enter the library’s drawing for a chance to win one of three gift baskets.
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It doesn’t take much to warm up the housing market. With a slight drop in interest rates at the beginning of the year, we saw a little more activity in February than January; however, compared to last year, 37% less homes sold in Lake Oswego in February and we’re behind 48% for the year.
Because of higher mortgage rates, now hovering near 7% and a lack of inventory, the market is slow. Sellers are continuing to stay put for a variety of reasons including not wanting to trade their low-interest rate for a higher one and not having someplace else to go.
Sellers should take comfort from Lawrence Yun, Chief Economist for the National Association of Realtors who predicts that, “Amid the backdrop of high inflation, elevated mortgage rates and slowing sales activity, severely limited housing inventory will prevent large home price drops for most of the country next year.” As you can see in the chart below, it’s still a seller’s market in most price points in Lake Oswego, except in the $2.3M to $4.6M price ranges. Homes are still selling close to the list price (98%) on average and there is much less competition for the buyers that are out there.
And there are buyers out there for a variety of reasons from already having sold their home during the heated market to professionals relocating due to a job. Many of them have cash in hand so the interest rates are not part of their buying decision.
Buyers need to be patient and also realize that while they may be looking at higher interest rates than a year ago, they are also looking at homes that will most likely sell closer to the listing price rather than $50,000 to $100,000+ above like during the heated market. What that means is that buyers will already have that extra $50,000+ equity in the house once they move in, as opposed to having that amount be part of the loan they had to take out to buy the house a year ago. Granted, monthly payments will be higher; but if buyers can swing it, the long-term picture might be better for them. And, remember that loans taken out today at 7% can be refinanced in a year or two when rates go down, which many experts predict. By the end of the first quarter alone, Fannie Mae and Wells Fargo project the average 30-year fixed interest rate to settle in at 6.1% and 6.3% respectively.
Buyers should also take into account something else economist Lawrence Yun predicts: “a strong rebound in housing in 2024 with a 10% jump in home sales and a 5% increase in the national median home price.” That means a home purchased today has a good chance (and an even better one in Lake Oswego) of appreciating by at least 5% in a year.
If you’d like some help making sense of today’s housing market in Lake Oswego and the Portland metro area, give me a call at 503.939.9801, email me at kevin.costello@cascadehassonsir.com and/or check out my website. I’d be more than happy to discuss best strategies given your current situation. I’ve been a Realtor in this area for over 30 years so I have the hyperlocal insight you need when deciding your next move. I’m here to help.
I feel pretty lucky—I live where I work and I love where I live. As a Realtor in Lake Oswego, Oregon, I get to share that enthusiasm with clients every day. Through this blog, with the help of my freelance writer wife, Genita, I’d like to share that enthusiasm with you. Be sure to visit my website.
Due to the changing nature of activities in response to COVID-19, I am suspending this section of the blog temporarily but wish every mom out there a Happy Mother’s Day today!
52 Reasons to Love Lake Oswego 