The Beaverton real estate market finished January with 119 closed sales, which is down considerably from the 182 & 172 closed sales recorded during the prior months of December and November respectively. Of the 119 closed sales in January, 63 were distressed properties (foreclosures/short sales) representing 53% of the closed sales for the month. As of the end of January, distressed properties accounted for 47% of the active listing inventory. There was 3 closed sales of homes valued at $500K or more during January and a total of only 8 over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at 4.6 months and overall it is at 5.3 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 to 4.0 months worth across all price brackets.
The average sold price in January was $207K which is a decrease of $8K, compared to $215K in December. The median sold price in January decreased significantly to $173K, down from $201K during the prior month. The average price of the active listings was $230K as of the end of January while the median price for the active listings was $200K during the same period.
New real estate listings in Beaverton (last 7 days):