The Canby real estate market finished April with 23 closed sales which is between the 18 & 34 closed sales recorded during the prior months of February and March respectively. Of the 23 closed sales in April, 4 were distressed properties (foreclosures/short sales) representing 17% of the closed sales for the month. As of the end of April, distressed properties accounted for 25% of the active listing inventory. There was 1 closed sale of homes valued over $500K during April and just 3 closed sales in the three month period of February – April.
The inventory level is lowest in the $251-500K price bracket at 2.4 months and overall it is at 2.9 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 picture decreases slightly to 2.7 months worth across all price brackets.
The average sold price in April was $290K which is a decrease of $33K, compared to $323K in March. Meanwhile, the median sold price was $275K in April, down $35K from the prior month. The average price of the active listings was $398K as of the end of April while the median price for the active listings was $320K during the same period.