The Canby real estate market finished December with 27 closed sales which is down from the 40 & 34 closed sales recorded during the prior months of October and November respectively. Of the 27 closed sales in December, none were distressed properties (foreclosures/short sales) representing 0% of the closed sales for the month. As of the end of December, distressed properties accounted for only 3% of the active listing inventory. There were 4 closed sales of homes valued over $500K during December and 11 closed sales in the three month period of October – December.
The inventory level is lowest in the $251-500K price bracket at 0.9 months and overall it is at 1.3 months worth across all price brackets based solely on the December closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture declines to 1.0 months worth across all price brackets.
The average sold price in December was $368K which is a decrease of $12K, compared to $380K in November. Meanwhile, the median sold price was $347K in November, down $20K from the prior month. The average price of the active listings was $487K as of the end of December while the median price for the active listings was $463K during the same period.