The Canby real estate market finished February with 18 closed sales which is between the 25 & 14 closed sales recorded during the prior months of December and January respectively. Of the 18 closed sales in February, 1 was a distressed property (foreclosures/short sales) representing 6% of the closed sales for the month. As of the end of February, distressed properties accounted for 25% of the active listing inventory. There was 1 closed sale of homes valued over $500K during February and just 2 closed sales in the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 2.9 months and overall it is at 3.2 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 decreases slightly to 3.0 months worth across all price brackets.
The average sold price in February was $298K which is a decrease of $28K, compared to $326K in January. Meanwhile, the median sold price was $292K in February, down $1K from the prior month. The average price of the active listings was $368K as of the end of February while the median price for the active listings was $309K during the same period.