The Canby real estate market finished May with 35 closed sales which is up from the 30 & 15 closed sales recorded during the prior months of March and April respectively. Of the 35 closed sales in May, 2 were distressed properties (foreclosures/short sales) representing 6% of the closed sales for the month. As of today, distressed properties accounted for 2% of the active listing inventory. There were 2 closed sales of homes valued over $500K during May and 6 closed sales in the three month period of March – May.
The inventory level is lowest in the up to $250K price bracket at 0.3 months and overall it is at 1.3 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 slightly to 1.7 months worth across all price brackets.
The average sold price in May was $374K which is an increase of $11K, compared to $363K in April. Meanwhile, the median sold price was $360K in May, up $32K from the prior month. The average price of the active listings was $515K while the median price was $487K as of today.