Oregon City Oregon Real Estate Market Update-March 2011
The real estate market in Oregon City Oregon finished January with 28 closed sales, which is below the 37 closed sales recorded during last December but up from the 21 in November. Of the 28 closed sales in January, 16 were distressed properties (foreclosures/short sales) representing 57% of the closed sales for the month. There were no closed sales of homes valued over $500K during January and a total of 2 sales over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at 6.7 months and overall it is at 13.2 months worth across all price brackets based solely on the below average January closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture improves slightly to 12.9 months worth across all price brackets.
The average sold price in January was $209K which is a decrease of $10K, compared to $219K in December. The median sold price was $210K in January, up $4K from the prior month. The average price of the active listings ($358K) increased $14K from the last reading in January while the median price for the active listings ($273K) increased by $8K over the same period.
