Canby Real Estate Market Update – May 2011
The real estate market in Canby Oregon finished March with 14 closed sales which is up from the 4 and 9 closed sales recorded during February and January respectively. Of the 14 closed sales in March, 4 were distressed properties (foreclosures/short sales) representing 29% of the closed sales for the month. As of the end of March, distressed properties accounted for 33% of the active listing inventory. There have been no closed sales of homes valued over $500K during the three month period of January – March.
The inventory level is lowest in the up to $250K price bracket at 7.8 months and overall it is at 9.6 months worth across all price brackets based solely on the March closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 15.0 months worth across all price brackets.
The average sold price in March was $218K which is an increase of $11K, compared to $207K in February. Conversely, the median sold price was $196K in March, down $3K from the prior month. The average price of the active listings was $295K as of the end of March while the median price for the active listings was $250K during the same period.
