The West Linn real estate market finished January with 34 closed sales which is down from the 40 & 46 closed sales in December and November respectively. Of the 34 closed sales in January, 13 were distressed properties (foreclosures/short sales) representing 38% of the closed sales for the month. As of the end of January, distressed properties accounted for 26% of the active listing inventory. There were 5 closed sales of homes valued over $500K during January and a total of 18 over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at only 2.6 months and overall it is at 6.9 months worth across all price brackets based solely on the January closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 5.9 months worth across all price brackets.
The average sold price in January was $340K which is a decrease of $19K, compared to $359K in December. Meanwhile, the median sold price in January decreased to $270K, down from $319K in December. The average price of the active listings was $613K as of the end of January while the median price for the active listings was $449K during the same period.