The Beaverton real estate market finished May with 200 closed sales, which is up from the 178 & 186 closed sales recorded during the prior months of April and March respectively. Of the 200 closed sales in May, 78 were distressed properties (foreclosures/short sales) representing 39% of the closed sales for the month. As of the end of May, distressed properties accounted for 48% of the active listing inventory. There were 6 closed sales of homes valued at $500K or more during May and a total of only 8 over the three month period of March – May.
The inventory level is lowest in the up to $250K price bracket at 3.0 months and overall it is at 3.1 months worth across all price brackets based solely on the May closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 3.3 months worth across all price brackets.
The average sold price in M ay was $228K which is an increase of $7K, compared to $221K in April. The median sold price in May declined to $205K, down from $208K during the prior month. The average price of the active listings was $242K as of the end of May while the median price for the active listings was $213K during the same period.
New real estate listings in Beaverton (last 7 days):