The Hillsboro real estate market finished March with 123 closed sales, which is up from the 58 & 76 closed sales recorded in the prior months of January and February respectively. Of the 123 closed sales in March, 9 were distressed properties (foreclosures/short sales) representing 7% of the closed sales for the month. As of the end of March, distressed properties accounted for 19% of the active listing inventory. There were 5 closed sales of homes valued at $500K or more during March and a total of 13 over the three month period of January – March.
The inventory level is lowest in the up to $250K price bracket at 1.1 months and overall it is at 1.5 months worth across all price brackets based solely on the March closed sales rate. Looking back over the last three months average closed sales rate, the inventory increases slightly to 2.2 months worth across all price brackets.
The average sold price in March was $276K which is down $19K from the $295K recorded the prior month. The median sold price in March was $259K which is up $2K from the prior month. The average price of the active listings was $408K as of the end of March while the median price for the active listings was $334K during the same period.