The West Linn real estate market finished May with 44 closed sales which is between the 47 & 35 closed sales in the prior months of April and March respectively. Of the 44 closed sales in May, 12 were distressed properties (foreclosures/short sales) representing 27% of the closed sales for the month. As of the end of May, distressed properties accounted for 22% of the active listing inventory. There were 9 closed sales of homes valued over $500K during May and a total of 19 over the three month period of March – May.
The inventory level is lowest in the up to $250K price bracket at only 2.9 months and overall it is at 5.3 months worth across all price brackets based solely on the May closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 5.5 months worth across all price brackets.
The average sold price in May was $370K which is an increase of $38K, compared to $332K in April. Meanwhile, the median sold price in May increased to $345K, up from $330K in April. The average price of the active listings was $628K as of the end of May while the median price for the active listings was $460K during the same period.
New real estate listings in West Linn (past 7 days):