The Sherwood real estate market finished July with 32 closed sales, which is equal to the 32 closed sales recorded during the prior month of June. Of the 32 closed sales in July, 11 were distressed properties (foreclosures/short sales) representing 34% of the closed sales for the month. As of the end of July, distressed properties accounted for 33% of the active listing inventory. There were 8 closed sales of homes valued over $500K during July and a total of 14 sales over the three month period of May – July.
The inventory level is lowest in the $251-500K price bracket at 4.0 months and overall it is at 4.6 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 increases just slightly to 4.7 months worth across all price brackets.
The average sold price in July was $409K which is an increase of $83K, compared to $326K in June. Similarly, the median sold price in July increased to $310K, up from $270K the month prior. The average price of the active listings was $469K as of the end of July while the median price for the active listings was at $331K at the same point.