The Sherwood real estate market finished January with 18 closed sales, which is down from the 38 & 35 closed sales recorded during the prior months of November and December respectively. Of the 18 closed sales in January, 3 were distressed properties (foreclosures/short sales) representing 17% of the closed sales for the month. As of the end of January, distressed properties accounted for 23% of the active listing inventory. There were 3 closed sale of homes valued over $500K during January and a total of 12 sales over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at 3.6 months and overall it is at 5.6 months worth across all price brackets based solely on the January closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 3.3 months worth across all price brackets.
The average sold price in January was $338K which is a decrease from the $381K recorded in the prior month of December. Meanwhile, the median sold price in January decreased to $317K, down $15K from $332K the month prior. The average price of the active listings was $822K as of the end of January while the median price for the active listings was at $464K at the same point.