The Hillsboro real estate market finished February with 76 closed sales, which is between the 98 & 58 closed sales recorded in the prior months of December and January respectively. Of the 76 closed sales in February, 8 were distressed properties (foreclosures/short sales) representing 11% of the closed sales for the month. As of the end of February, distressed properties accounted for 19% of the active listing inventory. There were 5 closed sales of homes valued at $500K or more during February and a total of 13 over the three month period of December – February.
The inventory level is lowest in the up to $250K price bracket at 2.0 months and overall it is at 2.6 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 decreases just slightly to 2.5 months worth across all price brackets.
The average sold price in February was $295K which is up $3K from the $292K recorded the prior month. The median sold price in February was $257K which is down $11K from the prior month. The average price of the active listings was $405K as of the end of February while the median price for the active listings was $314K during the same period.