The Sherwood real estate market finished April with 31 closed sales, which is up from the 25 & 24 closed sales recorded during the prior months of March and February respectively. Of the 31 closed sales in April, 13 were distressed properties (foreclosures/short sales) representing 42% of the closed sales for the month. As of the end of April, distressed properties accounted for 37% of the active listing inventory. There were 2 closed sales of homes valued over $500K during April and 5 sales over the three month period of February – April.
The inventory level is lowest in the up to $250K price bracket at only 2.1 months and overall it is at 3.7 months worth across all price brackets based solely on the April closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 4.3 months worth across all price brackets.
The average sold price in April was $286K which is a decrease of $9K, compared to $295K in March. Similarly, the median sold price in April decreased to $235K, down from $275K in March. The average price of the active listings was $506K as of the end of April while the median price for the active listings was at $395K at the same point.