The Canby real estate market finished January with 14 closed sales which is down from the 17 & 25 closed sales recorded during the prior months of November and December respectively. Of the 14 closed sales in January, 2 were distressed properties (foreclosures/short sales) representing 14% of the closed sales for the month. As of the end of January, distressed properties accounted for 28% of the active listing inventory. There were no closed sales of homes valued over $500K during January and just 2 closed sales in the three month period of November – January.
The inventory level is lowest in the $251-500K price bracket at 3.5 months and overall it is at 4.4 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 3.3 months worth across all price brackets.
The average sold price in January was $326K which is an increase of $34K, compared to $292K in December. Meanwhile, the median sold price was $293K in January, up $3K from the prior month. The average price of the active listings was $368K as of the end of January while the median price for the active listings was $307K during the same period.