The Happy Valley/Clackamas real estate market finished May with 79 closed sales, which is up from the 67 & 66 closed sales recorded during the prior months of March and April respectively. Of the 79 closed sales in May, 3 were distressed properties (foreclosures/short sales) representing 4% of the closed sales for the month. As of today, distressed properties accounted for 4% of the active listing inventory. There were 29 closed sales of homes valued over $500K during May and a total of 72 sales over the three month period of March – May.
The inventory level is lowest in the $251-500K price bracket at only 1.2 months and overall it is at 2.3 months worth across all price brackets based solely on the May closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 2.6 months worth across all price brackets.
The average sold price in May was $485K which is a decrease of $23K from the prior month of April. The median sold price was $465K in May, up $17K from the month prior. The average price of the active listings was $635K while the median price was $573K as of today.