The Milwaukie real estate market finished January with 53 closed sales, which is down from the 91 & 87 closed sales during the prior months of November and December respectively. Of the 53 closed sales in January, 3 were distressed properties (foreclosures/short sales) representing 6% of the closed sales for the month. As of the end of January, distressed properties accounted for 16% of the active listing inventory. There were 2 closed sales of homes valued over $500K during January and a total of 14 over the three month period of November – January.
The inventory level is lowest in the $251-500K price bracket at 1.0 months and overall it is at 1.3 months worth across all price brackets based solely on the January Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture decreases slightly to 0.9 months worth across all price brackets.
The average sold price in January was $319K which is a decrease of $20K, compared to $339K in December. Meanwhile, the median sold price was $316K in January which was down $9K from the prior month. The average price of the active listings was $429K as of the end of January while the median price for the active listings was $403K during the same period.
New real estate listings in Milwaukie (last 3 days):