The Happy Valley/Clackamas real estate market finished July with 81 closed sales, which is equal to then down from the 81 & 106 closed sales recorded during the prior months of May and June respectively. Of the 81 closed sales in July, 4 were distressed properties (foreclosures/short sales) representing 5% of the closed sales for the month. As of today, distressed properties accounted for 1% of the active listing inventory. There were 35 closed sales of homes valued over $500K during July and a total of 106 sales over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 1.0 months and overall it is at 2.6 months worth across all price brackets based solely on the July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases slightly to 2.4 months worth across all price brackets.
The average sold price in July was $479K which is a decrease of $34K from the prior month of June. The median sold price was $475K in July, up $12K from the month prior. The average price of the active listings was $655K while the median price was $590K as of today.