The Sherwood real estate market finished June with 32 closed sales, which is on par with the 29 & 31 closed sales recorded during the prior months of May and April respectively. Of the 32 closed sales in June, 10 were distressed properties (foreclosures/short sales) representing 31% of the closed sales for the month. As of the end of June, distressed properties accounted for 33% of the active listing inventory. There were 4 closed sales of homes valued over $500K during June and a total of 8 sales over the three month period of April – June.
The inventory level is lowest in the $251-500K price bracket at only 3.4 months and overall it is at 4.5 months worth across all price brackets based solely on the June closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 4.7 months worth across all price brackets.
The average sold price in June was $326K which is an increase of $39K, compared to $287K in May. Similarly, the median sold price in June increased to $270K, up from $256K in May. The average price of the active listings was $471K as of the end of June while the median price for the active listings was at $334K at the same point.
New real estate listings in Sherwood (last 7 days):