The Happy Valley/Clackamas real estate market finished December with 53 closed sales, which is an increase from the 44 & 43 closed sales recorded during the prior months of November and October respectively. Of the 53 closed sales in December, 19 were distressed properties (foreclosures/short sales) representing 36% of the closed sales for the month. As of the end of December, distressed properties accounted for 21% of the active listing inventory. There was 1 closed sale of homes valued over $500K during December and a total of 7 sales over the three month period of October – December.
The inventory level is lowest in the up to $250K price bracket at 3.5 months and overall it is at 5.7 months worth across all price brackets based solely on the December closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 6.5 months worth across all price brackets.
The average sold price in December was $275K which is an increase of $4K, compared to $271K in November. The median sold price was $265K in December, down $15K from the month prior. The average price of the active listings was $383K as of the end of December while the median price for the active listings was $339K during the same period.