It is a lovely waterfront neighborhood that basically surrounds Lakewood Bay. Lakewood Bay is the smaller Bay adjacent to Downtown Lake Oswego and the neighborhood of Lakewood hugs its shores. There is a canal to the main lake from Lakewood Bay which is quite charming to go through by boat. The majority of the neighborhood is a peninsula and the homes are character of the streets is just charming. South of Lakewood is the Eastern portion of Oswego Lake where the Lake Corp is situated.
While looking for Lakewood homes for sale, you will find many gorgeous view homes, Lake Oswego luxury homes, and Lake Oswego waterfront homes in addition to non-waterfront homes. This is because the neighborhood is comprised of much waterfront and within Lakewood is Half Moon Bay (part of “The Peninsula”) and parts of the North Shore. Each of these individual sections of Lakewood offer unique characteristics. You get South facing, North facing, West facing, and East facing waterfront homes in this neighborhood. Lakewood waterfront homes come are located in three separate sections of Oswego Lake, too! Where else can you find so much variety in one neighborhood?
According to the Lake Oswego Preservation Society (web clipping to the right of their site):
1925 advertisement declared “Of all Lake Oswego’s districts Lakewood is the most accessible –the nearest—possessed of modern advantages. There is no more beautiful spot anywhere.”
Lakewood Real Estate Market Update:
Homes in this Lake Oswego neighborhood are coveted and as a result there have not been a lot of Lakewood homes for sale for the past 12 months. In looking through the RMLS, for residential detached homes marked in the Lakewood neighborhood, there have been even less, but drawing a precise shape around the official neighborhood boundaries, there are additional properties to include in our market numbers. Lakewood waterfront homes and homes in the peninsula portion of the neighborhood are highly sought after, but all homes in this neighborhood tend to be desirable.
There are only three single family Lakewood homes for sale currently. These are located on Middlecrest Rd, Ridgeway Rd, and Lakeshore Rd, and range in list price from $629,900 to $2,295,000. The average dollar per square foot on these is $482. The median days on market is 144 days and the median price is $895,000.
In the last 12 months, 11 Lakewood homes have sold – again single family homes. No condos in these numbers. These Lakewood homes have a median list price of $625,000 and a median sold price of $580,000. The average dollar per square foot based on their final sales prices was $313 and there was a median days on market of 85 days.
If you are interested in exploring Lake Oswego’s Lakewood neighborhood, please let me know. I am happy to show you my favorite Lakewood homes for sale and also happy to tell you about the neighborhood or other Lake Oswego neighborhoods.