Russell Homewood,PC Real Estate Broker GRI (Graduate Realtor Institute) ABR (Accredited Buyer Representative) Diamond - Platinum Designation of the Million Dollar Club Business: 503/906.7139 Fax: 503/906.7539 Cell: 503/705.4584
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Specializing in Residential and Commercial Real Estate in Portland, Downtown - The Pearl, South Waterfront, NW, Beaverton, Tigard, Hillsboro, Lake Oswego, Tualatin, Sherwood, Milwaukie, Gladstone, Wilsonville and Oregon City. Experienced in New Construction, Vintage Homes, Condominiums & Commerical Properties! Serving Washington, Multnomah & Clackamas Counties.
Click HereMonthly Market Statistics. Or - See Summary Below! Valuable information on your community! Call or email me for more details on current market conditions.
January Residential Highlights While not quite as dramatic as last month, sales activity in the Portland metro area continued to show improvement in January 2010 compared to the same month a year ago.
Closed sales were up 34.7% compared to January 2009 and pending sales rose 24.3%. However, new listings fell 6.2%.
Pending sales were also up 34.5% (1,535 v. 1,141) when compared to December 2009. On the other hand, closed sales fell 34.5% (986 v. 1,506) and new listings grew 87.1% (3,937 v. 2,104) driving inventory to double digits for the first time since May of 2009.
Ath the month's rate of sales, it would take approximately 12.6 months to sell the 12,449 active residential listings.
Sales Prices The average sale price for January 2010 was down 5% compared to January 2009, while the median sale price declined 4%.
Compared to December 2009, the average price decreased 3.7% ($282,400 v. $293,300) and the median fell 0.9% ($240,000 v. $242,200).
Portland MetroResidential Highlights
New Listings
Pending Sales
Closed Sales
Average Sale Price
Median Sale $
Total Mkt Time*
2010
January
3,937
1,535
986
282,400
240,000
145
2010
YTD
3,930
1,535
984
282,400
240,000
145
2009
January
4,196
1,235
732
297,200
250,000
152
2009
YTD
4,196
1,235
732
297,200
250,000
152
Change
January
-6.2%
24.3%
34.7%
-5.0%
-4.0%
-4.7%
Change
YTD
-6.3%
24.3%
34.4%
-5.0%
-4.0%
-4.7%
* Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.
