The Hillsboro real estate market finished May with 90 closed sales, which is between the 95 & 79 closed sales recorded in the prior months of April and March respectively. Of the 90 closed sales in May, 32 were distressed properties (foreclosures/short sales) representing 36% of the closed sales for the month. As of the end of May, distressed properties accounted for 47% of the active listing inventory. There were 3 closed sales of homes valued at $500K or more during May and a total of 5 over the three month period of March – May.
The inventory level is lowest in the $251-500K price bracket at only 3.5 months and overall it is at 4.1 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 just slightly to 4.2 months worth across all price brackets.
The average sold price in May was $244K which is up $27K from the $217K recorded the prior month. The median sold price in May was $201K, down $9K from April. The average price of the active listings was $324K as of the end of May while the median price for the active listings was $220K during the same period.
New real estate listings in Hillsboro (last 7 days):