Old Town is an officially recognized neighborhood area on the east side of the city near downtown, the Willamette River side of Lake Oswego and Foothills.
Old Town's mapped neighbors include Foothills, Hallinan and Lakewood. Comparing listings across those nearby boundaries helps separate differences in the property itself from differences created by location and street network.
For pricing context, compare Old Town with similar properties in Foothills and Hallinan. Hold construction era, property type, lot or unit size and update level as constant as possible before deciding whether the location itself explains a price difference.