The Oregon City real estate market finished January with 42 closed sales, which is down from the 59 & 49 closed sales recorded during the prior months of November and December respectively. Of the 42 closed sales in January, 5 were distressed properties (foreclosures/short sales) representing 12% of the closed sales for the month. As of the end of January, distressed properties accounted for 19% of the active listing inventory. There were 3 closed sales of homes valued over $500K during January and a total of 6 over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at 1.8 months and overall it is at 3.1 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 slightly to 2.6 months worth across all price brackets.
The average sold price in January was $309K which is a decrease of $2K, compared to $311K in December. Meanwhile, the median sold price in January was $276K, down $15K from the prior month. The average price of the active listings was $497K as of the end of January while the median price was $338K during the same period.