Happy Valley Oregon Real Estate Market Update-March 2011
The real estate market in Happy Valley Oregon finished January with 33 closed sales, which is below the 36 closed sales recorded during last December but up from the 28 in November. Of the 33 closed sales in January, 16 were distressed properties (foreclosures/short sales) representing 49% of the closed sales for the month. There were 4 closed sales of homes valued over $500K during January and a total of 8 sales over the three month period of November – January.
The inventory level is lowest in the $251-500K price bracket at 9.9 months and overall it is at 11.2 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 declines slightly to 11.4 months worth across all price brackets.
The average sold price in January was $311K which is an increase of $46K, compared to $265K in December. The median sold price was $305K in January, up $57K from the prior month. The average price of the active listings ($355K) decreased $8K from the last reading in January while the median price for the active listings ($319K) decreased by only $1K over the same period.
