Happy Valley / Clackamas Real Estate Market Update – January 2012
The Happy Valley/Clackamas real estate market finished November with 42 closed sales, which is equal to the 42 closed sales recorded during the prior month of October. Of the 42 closed sales in November, 16 were distressed properties (foreclosures/short sales) representing 38% of the closed sales for the month. As of the end of November, distressed properties accounted for 20% of the active listing inventory. There were no closed sale of homes valued over $500K during November and a total of 6 sales over the three month period of September – November.
The inventory level is lowest in the up to $250K price bracket at 5.5 months and overall it is at 7.7 months worth across all price brackets based solely on the November closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 7.1 months worth across all price brackets.
The average sold price in November was $270K which is a decrease of $64K, compared to $334K in October. The median sold price was $280K in November, down $42K from the month prior. The average price of the active listings was $385K as of the end of November while the median price for the active listings was $344K during the same period.
