Happy Valley Real Estate Market Update – April 2011
The real estate market in Happy Valley finished February with 41 closed sales, which is above the 33 & 36 closed sales recorded during January and last December respectively. Of the 41 closed sales in February, 25 were distressed properties (foreclosures/short sales) representing 61% of the closed sales for the month. There were 3 closed sales of homes valued over $500K during February and a total of 8 sales over the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 7.0 months and overall it is at 9.0 months worth across all price brackets based solely on the February closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture declines to 10.1 months worth across all price brackets.
The average sold price in February was $279K which is a decrease of $32K, compared to $311K in January. The median sold price was $265K in February, down $40K from the prior month. The average price of the active listings was $355K as of the end of February while the median price for the active listings was $319K during the same period.
