The Tigard real estate market finished July with 133 closed sales, which is up from the 121 & 107 closed sales recorded during the prior months of June and May respectively. Of the 133 closed sales in July, 29 were distressed properties (foreclosures/short sales) representing 22% of the closed sales for the month. As of the end of July, distressed properties accounted for 28% of the active listing inventory. There were 10 closed sales of homes valued over $500K during July and a total of 18 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 2.8 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 increases slightly to 3.5 months worth across all price brackets.
The average sold price in July was $289K which is an increase of $21K, compared to $268K in June. Similarly, the median sold price in June increased to $260K, up from $254K in June. The average price of the active listings was $307K as of the end of July while the median price for the active listings was $288K during the same period.