The real estate market in Milwaukie Oregon finished January with 27 closed sales, continuing a downward trend from the 35 closed sales recorded during last December and 40 in November. Of the 27 closed sales in January, 10 were distressed properties (foreclosures/short sales) representing 37% of the closed sales for the month. There was 1 closed sale of homes valued over $500K during January and a total of 2 sales over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at 9.0 months and overall it is at 11.5 months worth across all price brackets based solely on the below average January closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture improves to 9.1 months worth across all price brackets.
The average sold price in January was $208K which is a decrease of $23K, compared to $231K in December. The median sold price was $206K in January, down $14K from the prior month. The average price of the active listings ($256K) increased $6K from the last reading in January while the median price for the active listings ($220K) remained unchanged from the prior period.