The Tualatin real estate market finished February with 30 closed sales, which is up from the 28 & 17 closed sales recorded during the prior months of December and January respectively. Of the 30 closed sales in February, 3 were distressed properties (foreclosures/short sales) representing 10% 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 4 closed sales of homes valued over $500K during February and a total of 10 sales over the three month period of December – February.
The inventory level is lowest in the $251-500K price bracket at 1.5 months and overall it is 1.9 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 increases slightly to 2.3 months worth across all price brackets.
The average sold price in February was $354K which is down $81K, compared to $435K in January. Meanwhile, the median sold price in February increased to $315K, up from $297K the month prior. The average price of the active listings was $551K as of the end of February while the median list price was $439K during the same period.