The Gresham real estate market finished July with 68 closed sales, which is between the 75 and 58 closed sales recorded during June and May respectively. Of the 68 closed sales in July, 22 were distressed properties (foreclosures/short sales) representing 32% of the closed sales for the month. As of the end of July, distressed properties accounted for 37% of the active listing inventory. There were no closed sales of homes valued over $500K during July and a total of only 1 sales over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 4.4 months and overall it is at 5.4 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 increases just slightly to 5.5 months worth across all price brackets.
The average sold price in July was $186K which is a increase of $13K, compared to $173K in June. Similarly, the median sold price was $184K in July, up $13K from the prior month. The average price of the active listings was $230K as of the end of July while the median price for the active listings was $210K for the prior period.
New real estate listings in Gresham (last 7 days):