The Canby real estate market finished March with 34 closed sales which is up sharply from the 14 & 18 closed sales recorded during the prior months of January and February respectively. Of the 34 closed sales in March, 4 were distressed properties (foreclosures/short sales) representing 12% of the closed sales for the month. As of the end of March, distressed properties accounted for 23% of the active listing inventory. There was 1 closed sale of homes valued over $500K during March and just 2 closed sales in the three month period of January – March.
The inventory level is lowest in the $251-500K price bracket at 1.5 months and overall it is at 1.9 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 2.9 months worth across all price brackets.
The average sold price in March was $323K which is an increase of $25K, compared to $298K in February. Meanwhile, the median sold price was $310K in March, up $18K from the prior month. The average price of the active listings was $389K as of the end of March while the median price for the active listings was $315K during the same period.