The Happy Valley/Clackamas real estate market finished August with 82 closed sales, which is equal to the 82 closed sales recorded during the prior month of July. Of the 82 closed sales in August, none were distressed properties (foreclosures/short sales) representing 0% of the closed sales for the month. As of today, distressed properties accounted for 2% of the active listing inventory. There were 28 closed sales of homes valued over $500K during August and a total of 104 sales over the three month period of June – August.
The inventory level is lowest in the $251-500K price bracket at 1.3 months and overall it is at 2.6 months worth across all price brackets based solely on the August 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 August was $497K which is an increase of $19K from the prior month of July. The median sold price was $464K in August, down $8K from the month prior. The average price of the active listings was $645K while the median price was $585K as of today.