The Happy Valley/Clackamas real estate market finished January with 42 closed sales, which is down from the 54 & 52 closed sales recorded during the prior months of December and November respectively. Of the 42 closed sales in January, 10 were distressed properties (foreclosures/short sales) representing 24% of the closed sales for the month. As of the end of January, distressed properties accounted for 21% of the active listing inventory. There were 3 closed sales of homes valued over $500K during January and a total of 7 sales over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at 3.0 months and overall it is at 5.9 months worth across all price brackets based solely on the January closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 5.0 months worth across all price brackets.
The average sold price in January was $317K which is down $2K from the prior month of December. The median sold price was $275K in January, down $38K from the month prior. The average price of the active listings was $413K as of the end of January while the median price for the active listings was $362K during the same period.