The West Linn real estate market finished July with 46 closed sales which is between the 66 & 44 closed sales in the prior months of June and May respectively. Of the 46 closed sales in July, 12 were distressed properties (foreclosures/short sales) representing 26% of the closed sales for the month. As of the end of July, distressed properties accounted for 19% of the active listing inventory. There were 7 closed sales of homes valued over $500K during July and a total of 25 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 3.3 months and overall it is at 5.8 months worth across all price brackets based solely on the July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 5.1 months worth across all price brackets.
The average sold price in July was $357K which is a decrease of $6K, compared to $364K in June. Meanwhile, the median sold price in July increased to $356K, up from $355K in June. The average price of the active listings was $627K as of the end of July while the median price for the active listings was $479K during the same period.