ASTORIA — There was a slight uptick in Clatsop County’s available home supply in January but also a substantial increase in the median selling price.
Seventy-three houses were listed for sale in January, compared to 68 in December and 209 in January 2020, according to data provided by the Clatsop Association of Realtors.
Thirty-four houses sold in January at a median price of $422,500, up from $389,500 in December and $354,000 in January 2020. “Median” means half sold for more and half for less. The average selling price this January was $471,759, compared to $507,668 in December and $411,420 in January 2020.
Only four active listings were priced under $249,000 in January, with five more priced between $250,000 and $299,999. Half of the houses for sale in the county in January were priced at more than $500,000.
The average price of the 48 houses listed this January was $742,356, down from $771,110 in December but up from $606,231 in January 2020.
The absorption rate — a real estate industry measurement of how fast sales are burning through the available inventory — rose slightly above one month to 1.04, compared to 3.04 in January 2019. This means that unless more houses were listed, it would take about a month to exhaust the available supply.