The Happy Valley/Clackamas real estate market finished May with 58 closed sales, which is between the 55 & 60 closed sales recorded during the prior months of April and March respectively. Of the 58 closed sales in May, 19 were distressed properties (foreclosures/short sales) representing 33% of the closed sales for the month. As of the end of May, distressed properties accounted for 23% of the active listing inventory. There were no closed sales of homes valued over $500K during May and a total of only 4 sales over the three month period of March – May.
The inventory level is lowest in the up to $250K price bracket at 3.4 months and overall it is at 5.2 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 remains at 5.2 months worth across all price brackets.
The average sold price in May was $288K which is an increase of $13K, compared to $275K in April. The median sold price was $297K in May, up $32K from the month prior. The average price of the active listings was $452K as of the end of May while the median price for the active listings was $401K during the same period.
New real estate listings in Happy Valley (last 7 days):