The Hillsboro real estate market finished July with 95 closed sales, which is between the 124 & 93 closed sales recorded in the prior months of June and May respectively. Of the 95 closed sales in July, 36 were distressed properties (foreclosures/short sales) representing 38% of the closed sales for the month. As of the end of July, distressed properties accounted for 44% of the active listing inventory. There were 2 closed sales of homes valued at $500K or more during July and a total of 6 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 3.6 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 just slightly to 3.3 months worth across all price brackets.
The average sold price in July was $238K which is up $18K from the $220K recorded the prior month. The median sold price in July was $218K, up $16K from June. The average price of the active listings was $332K as of the end of July while the median price for the active listings was $230K during the same period.