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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.

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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 Metro Residential 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.

For more information, see the complete report at www.PortlandHomeSales.com



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