The West Linn real estate market finished October with 57 closed sales which is down from the 67 & 59 closed sales in the prior months of August and September respectively. Of the 57 closed sales in October, 1 was a distressed property (foreclosures/short sales) representing 2% of the closed sales for the month. As of today, distressed properties accounted for 3% of the active listing inventory. There were 30 closed sales of homes valued over $500K during October and a total of 98 over the three month period of August– October.
The inventory level is lowest in the up to $250K price bracket at only 0.5 months and overall it is at 2.4 months worth across all price brackets based solely on the October closed sales rate. Looking back over the last three months average closed sales rate, the inventory level decreases just slightly to 2.3 months worth across all price brackets.
The average sold price in October was $625K which is up $45K from the prior month of September. Meanwhile, the median sold price in October increased to $539K, up from $477K the month prior. The average price of the active listings was $1,067K while the median price was $690K as of today.