The Beaverton real estate market finished February with 183 closed sales, which is between the 255 & 169 closed sales recorded during the prior months of December and January respectively. Of the 183 closed sales in February, 26 were distressed properties (foreclosures/short sales) representing 14% of the closed sales for the month. As of the end of February, distressed properties accounted for 21% of the active listing inventory. There were 7 closed sales of homes valued at $500K or more during February and a total of 28 over the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 1.9 months and overall it is at 2.1 months worth across all price brackets based solely on the February closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture declines to 1.9 months worth across all price brackets.
The average sold price in February was $283K which is up $2K compared to the prior month of January. Meanwhile, the median sold price in February declined to $261K, down $9K from the prior month. The average price of the active listings was $308K at of the end of February while the median price for the active listings was $272K during the same period.