The real estate market in West Linn Oregon finished February with 23 closed sales, which is up from the 16 sold in January and equal to the number recorded last December. Of the 23 closed sales in February, 11 were distressed properties (foreclosures/short sales) representing 48% of the closed sales for the month. There were 3 closed sales of homes valued over $500K during February and a total of 11 over the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 7.0 months and overall it is at 13.2 months worth across all price brackets based solely on the February closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture worsens to 14.7 months worth across all price brackets.
The average sold price in February was $327K which is a decrease of $54K, compared to $381K in January. Similarly, the median sold price in February decreased to $285K, down from $373K in January. The average price of the active listings ($647K) remained unchanged from the reading at the end of January while the median price for the active listings ($435K) declined by $1K from the prior month.