The Happy Valley/Clackamas real estate market finished February with 50 closed sales, which is between the 72 & 44 closed sales recorded during the prior months of December and January respectively. Of the 50 closed sales in February, only 3 were distressed properties (foreclosures/short sales) representing just 6% of the closed sales for the month. As of the end of February, distressed properties accounted for 10% of the active listing inventory. There were 4 closed sales of homes valued over $500K during February and a total of 11 sales over the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at only 1.6 months and overall it is at 3.7 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 declines to 3.3 months worth across all price brackets.
The average sold price in February was $372K which is an increase of $1K from the prior month of January. The median sold price was $388K in February, up $35K from the month prior. The average price of the active listings was $511K as of the end of February while the median price for the active listings was $458K during the same period.