The Canby real estate market finished February with 10 closed sales which is down from the 14 closed sales recorded during the prior month of January. Of the 10 closed sales in February, 4 were distressed properties (foreclosures/short sales) representing 40% of the closed sales for the month. As of the end of February, distressed properties accounted for 32% of the active listing inventory. There have been no closed sales of homes valued over $500K during the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 6.4 months and overall it is at 8.5 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 7.5 months worth across all price brackets.
The average sold price in February was $209K which is a decrease of $23K, compared to $232K in January. Meanwhile, the median sold price was $163K in February, down $71K from the prior month. The average price of the active listings was $296K as of the end of February while the median price for the active listings was $245K during the same period.