The Oregon City real estate market finished July with 58 closed sales, which is up slightly from the 56 & 57 closed sales recorded during the prior months of June and May respectively. Of the 58 closed sales in July, 13 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 26% of the active listing inventory. There were 3 closed sales of homes valued over $500K during July and a total of only 3 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 2.9 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 slightly to 4.7 months worth across all price brackets.
The average sold price in July was $273K which is an increase of $11K, compared to $262K in June. Conversely, the median sold price in July decreased to $240K, down from $252K in June. The average price of the active listings was $391K as of the end of July while the median price was $296K during the same period.