The Happy Valley/Clackamas real estate market finished July with 64 closed sales, which is between the 65 & 58 closed sales recorded during the prior months of June and May respectively. Of the 64 closed sales in July, 15 were distressed properties (foreclosures/short sales) representing 23% 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 2 closed sales of homes valued over $500K during July and a total of 5 sales over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 3.1 months and overall it is at 5.2 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 increases slightly to 5.3 months worth across all price brackets.
The average sold price in July was $306K which is the same as the prior month of June. The median sold price was $290K in July, down $10K from the month prior. The average price of the active listings was $405K as of the end of July while the median price for the active listings was $355K during the same period.