West Linn Real Estate Market Update – January 2012
The West Linn real estate market finished December with 39 closed sales which is in between the 46 & 31 closed sales in November and October respectively. Of the 39 closed sales in December, only 11 were distressed properties (foreclosures/short sales) representing 28% of the closed sales for the month. As of the end of December, distressed properties accounted for 28% of the active listing inventory. There were 7 closed sales of homes valued over $500K during December and a total of 15 over the three month period of October – December.
The inventory level is lowest in the up to $250K price bracket at only 2.9 months and overall it is at 6.5 months worth across all price brackets based solely on the December closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture remained at 6.5 months worth across all price brackets.
The average sold price in December was $351K which is a decrease of $8K, compared to $359K in November. Meanwhile, the median sold price in December decreased to $312K, down from $354K in November. The average price of the active listings was $594K as of the end of December while the median price for the active listings was $430K during the same period.
