Oregon City Real Estate Market Update-January 2011
The real estate market in Oregon City saw an increase in closed sales (37) during December vs 21 sales in November. There were only 5 closed sales of homes valued $500K or more over the period of October – December. The inventory level remains high in all price brackets with the lowest in the under $250K bracket at 8.9 months and is at 11.9 months worth across all price ranges.
Average and median sold prices has been on a downward trend for the past four months. The average and median sold prices in December were $219K and $206K respectively. The average price of the active listings is significantly higher ($344K) than the sold prices because of a number of higher priced listings that are currently on the market which skews the average upward. The median price of the active listings ($265K) is significantly higher than the comparable median sold prices over the September – December time period as well.
