The Canby real estate market finished May with 16 closed sales which is between the 14 & 17 closed sales recorded during the prior months of April and March respectively. Of the 16 closed sales in May, 4 were distressed properties (foreclosures/short sales) representing 25% of the closed sales for the month. As of the end of May, distressed properties accounted for 31% of the active listing inventory. There have been no closed sales of homes valued over $500K during the three month period of March – May.
The inventory level is lowest in the up to $250K price bracket at 4.3 months and overall it is at 7.3 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 just slightly to 7.4 months worth across all price brackets.
The average sold price in May was $214K which is an increase of $1K, compared to $213K in April. Meanwhile, the median sold price was $215K in May, up $3K from the prior month. The average price of the active listings was $323K as of the end of May while the median price for the active listings was $261K during the same period.
New real estate listings in Canby (last 7 days):