The Beaverton real estate market finished July with 146 closed sales, which is down from the 213 and 171 closed sales recorded during June and May respectively. Of the 146 closed sales in July, 44 were distressed properties (foreclosures/short sales) representing 30% of the closed sales for the month. As of the end of July, distressed properties accounted for 35% of the active listing inventory. There were 3 closed sales of homes valued at $500K or more during July and a total of 7 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 5.9 months and overall it is at 6.8 months worth across all price brackets based solely on the July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 5.6 months worth across all price brackets.
The average sold price in July was $224K which is an increase of $8K, compared to $216K in June. The median sold price in July remained unchanged at $200K from the prior month. The average price of the active listings was $246K as of the end of July while the median price for the active listings was $219K during the same period.