The Oregon City real estate market finished February with 51 closed sales, which is up from the 49 & 43 closed sales recorded during the prior months of December and January respectively. Of the 51 closed sales in February, 7 were distressed properties (foreclosures/short sales) representing 14% of the closed sales for the month. As of the end of February, distressed properties accounted for 17% of the active listing inventory. There was 1 closed sale of homes valued over $500K during February and a total of 7 over the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 1.5 months and overall it is at 2.9 months worth across all price brackets based solely on the February closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 3.1 months worth across all price brackets.
The average sold price in February was $291K which is a decrease of $17K, compared to $308K in January. Meanwhile, the median sold price in February was $278K, up $3K from the prior month. The average price of the active listings was $477K as of the end of February while the median price was $337K during the same period.