The Happy Valley/Clackamas real estate market finished March with 82 closed sales, which is up from the 44 & 50 closed sales recorded during the prior months of January and February respectively. Of the 82 closed sales in March, only 4 were distressed properties (foreclosures/short sales) representing just 5% of the closed sales for the month. As of the end of March, distressed properties accounted for 9% of the active listing inventory. There were 14 closed sales of homes valued over $500K during March and a total of 19 sales over the three month period of January – March.
The inventory level is lowest in the up to $250K price bracket at only 1.7 months and overall it is at 2.6 months worth across all price brackets based solely on the March closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 3.6 months worth across all price brackets.
The average sold price in March was $412K which is an increase of $40K from the prior month of February. The median sold price was $373K in March, down $15K from the month prior. The average price of the active listings was $503K as of the end of March while the median price for the active listings was $473K during the same period.