The Oregon City real estate market finished May with 57 closed sales, which is between the 58 & 47 closed sales recorded during the prior months of April and March respectively. Of the 57 closed sales in May, 18 were distressed properties (foreclosures/short sales) representing 32% of the closed sales for the month. As of the end of May, distressed properties accounted for 30% of the active listing inventory. There were no closed sales of homes valued over $500K during May and a total of 5 over the three month period of March – May.
The inventory level is lowest in the up to $250K price bracket at 4.0 months and overall it is at 4.6 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 4.8 months worth across all price brackets.
The average sold price in May was $243K which is a decrease of $19K, compared to $262K in April. Conversely, the median sold price in May increased to $245K, up from $239K in April. The average price of the active listings was $349K as of the end of May while the median price was $273K during the same period.
New real estate listings in Oregon City (last 7 days):