Canby Real Estate Market Update – January 2012
The Canby real estate market finished November with 17 closed sales which is between the 9 & 19 closed sales recorded during the prior months of October and September respectively. Of the 17 closed sales in November, 10 were distressed properties (foreclosures/short sales) representing 59% of the closed sales for the month. As of the end of November, 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 September – November.
The inventory level is lowest in the up to $250K price bracket at 4.7 months and overall it is at 6.0 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 increases to 6.8 months worth across all price brackets.
The average sold price in November was $212K which is a decrease of $40K, compared to $252K in October. Similarly, the median sold price was $215K in November, down $21K from the prior month. The average price of the active listings was $283K as of the end of November while the median price for the active listings was $234K during the same period.
