The Beaverton real estate market finished July with 196 closed sales, which is down from the 250 & 203 closed sales recorded during the prior months of June and May respectively. Of the 196 closed sales in July, 53 were distressed properties (foreclosures/short sales) representing 27% of the closed sales for the month. As of the end of July, distressed properties accounted for 46% of the active listing inventory. There were 4 closed sales of homes valued at $500K or more during July and a total of 14 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 3.1 months and overall it is at 3.2 months worth across all price brackets based solely on the July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases slightly to 2.9 months worth across all price brackets.
The average sold price in July was $233K which is an increase of $13K, compared to $220K in June. The median sold price in July decreased to $211K, down from $216K during the prior month. The average price of the active listings was $252K as of the end of July while the median price for the active listings was $225K during the same period.