The Canby real estate market finished August with 43 closed sales which up from the 26 & 31 closed sales recorded during the prior months of June and July respectively. Of the 43 closed sales in August, 3 were distressed properties (foreclosures/short sales) representing 7% of the closed sales for the month. As of today, distressed properties accounted for 6% of the active listing inventory. There were 10 closed sales of homes valued over $500K during August and 21 closed sales in the three month period of June – August.

The inventory level is lowest in the up to $250K price bracket at 1.0 months and overall it is at 1.5 months worth across all price brackets based solely on the August Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture increases to 2.0 months worth across all price brackets.

The average sold price in August was $489K which is an increase of $66K, compared to $423K in July. Meanwhile, the median sold price was $443K in August, up $42K from the prior month. The average price of the active listings was $487K while the median price was $472K as of today.

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