The West Linn real estate market finished July with 33 closed sales, compared to 39 and 40 closed sales in June and May respectively. Of the 33 closed sales in July, 9 were distressed properties (foreclosures/short sales) representing 27% of the closed sales for the month. As of the end of July, distressed properties accounted for 23% of the active listing inventory. There were 9 closed sales of homes valued over $500K during July and a total of 31 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 4.9 months and overall it is at 10.0 months worth across all price brackets based solely on the July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreased to 8.8 months worth across all price brackets.
The average sold price in July was $408K which is a decrease of $47K, compared to $455K in June. Meanwhile, the median sold price in July decreased to $320K, down from $390K in June. The average price of the active listings was $552K as of the end of July while the median price for the active listings was $440K during the same period.