The Happy Valley/Clackamas real estate market finished October with 63 closed sales, which is down from the 83 & 71 closed sales recorded during the prior months of August and September. Of the 63 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 4% of the active listing inventory as well. There were 23 closed sales of homes valued over $500K during October and a total of 77 sales over the three month period of August – October.
The inventory level is lowest in the $251-500K price bracket at 1.2 months and overall it is at 2.7 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 picture decreases slightly to 2.3 months worth across all price brackets.
The average sold price in October was $470K which is a decrease of $19K from the prior month of August. The median sold price was $465K in October, up $15K from the month prior. The average price of the active listings was $661K while the median price was $629K as of today.