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[roni]

OT real estate Portland

Still pretty good. Time on market declined from Dec 04 to Dec 05. Urban growth zone boundaries get expanded every couple of years, but still provide some limits to the areas in which housing can be built.

New building is mostly real high density - a lot of 5,000 square foot lots with 3,000 square foot houses on them. We live in the most desireable school district, and there is very little land available in it. People are buying old houses on 10-15,000 sq. ft. lots, tearing them down and building new big houses on them.

Portland is also the lowest price urban housing market on the left coast.

Should be an interesting year. We can gut out a drop since our house has close to doubled in value over the past 5 years. Last year our neighborhood appreciated at twice the rate of the Portland metro market - 40% compared to 20%. We plan to cash out and move to Mexico in 4-5 years, so we are not disinterested observers :).

Condo market it hot - lots of conversions going on and 4 big towers going up on previously industrial land by the Willamette River just south of downtown.