The Happy Valley/Clackamas real estate market finished January with 44 closed sales, which is down from the 58 & 72 closed sales recorded during the prior months of November and December respectively. Of the 44 closed sales in January, only 2 were distressed properties (foreclosures/short sales) representing just 5% of the closed sales for the month. As of the end of January, distressed properties accounted for 9% of the active listing inventory. There was 1 closed sale of homes valued over $500K during January and a total of 14 sales over the three month period of November – January.
The inventory level is lowest in the $251-500K price bracket at only 2.2 months and overall it is at 3.9 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 declines to 2.9 months worth across all price brackets.
The average sold price in January was $356K which is even with the prior month of December. The median sold price was $353K in January, up $20K from the month prior. The average price of the active listings was $501K as of the end of January while the median price for the active listings was $440K during the same period.