The West Linn real estate market finished April with 55 closed sales which is up from 36 & 48 closed sales in the prior months of February and March respectively. Of the 55 closed sales in April, only 1 was a distressed property (foreclosures/short sales) representing just 2% of the closed sales for the month. As of the end of April, distressed properties accounted for 10% of the active listing inventory. There were 17 closed sales of homes valued over $500K during April and a total of 46 over the three month period of February – April.
The inventory level is lowest in the $251-500K price bracket at 1.2 months and overall it is at 2.7 months worth across all price brackets based solely on the April closed sales rate. Looking back over the last three months average closed sales rate, the inventory increases to 3.2 months worth across all price brackets.
The average sold price in April was $449K which is up $26K from the prior month of March. Meanwhile, the median sold price in April increased to $465K, up from $402K in March. The average price of the active listings was $690K as of the end of April while the median price for the active listings was $559K during the same period.