Oregon City Real Estate Market Update – April 2011
The real estate market in Oregon City finished February with 32 closed sales, which is between the 29 & 37 closed sales recorded during January and last December respectively. Of the 32 closed sales in February, 14 were distressed properties (foreclosures/short sales) representing 44% of the closed sales for the month. There were no closed sales of homes valued over $500K during the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 6.4 months and overall it is at 11.5 months worth across all price brackets based solely on the below average February closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture improves slightly to 11.3 months worth across all price brackets.
The average sold price in February was $217K which is an increase of $7K, compared to $210K in January. The median sold price was $210K in February which is unchanged from the prior month. The average price of the active listings was $358K as of the end of February while the median price was $273K during the same period.
