The West Linn real estate market finished February with 27 closed sales which is down from the 34 & 40 closed sales in January and December respectively. Of the 27 closed sales in February, 11 were distressed properties (foreclosures/short sales) representing 41% of the closed sales for the month. As of the end of February, distressed properties accounted for 27% of the active listing inventory. There were 4 closed sales of homes valued over $500K during February and a total of 17 over the three month period of December – February.
The inventory level is lowest in the $251-500K price bracket at 5.8 months and overall it is at 8.3 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 decreases to 6.7 months worth across all price brackets.
The average sold price in February was $365K which is an increase of $25K, compared to $340K in January. Meanwhile, the median sold price in February increased to $360K, up from $270K in January. The average price of the active listings was $611K as of the end of February while the median price for the active listings was $430K during the same period.
New real estate listings in West Linn (past 7 days):