The Tigard real estate market finished March with 118 closed sales, which is up from the 73 & 98 closed sales recorded during the prior months of January and February respectively. Of the 118 closed sales in March, 9 were distressed properties (foreclosures/short sales) representing 8% of the closed sales for the month. As of the end of March, distressed properties accounted for 20% of the active listing inventory. There were 15 closed sales of homes valued over $500K during March and a total of 23 over the three month period of January – March.
The inventory level is lowest in the up to $250K price bracket at 1.2 months and overall it is at 1.4 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 picture increases to 1.8 months worth across all price brackets.
The average sold price in March was $329K which is an increase of $2K, compared to $327K in February. Meanwhile, the median sold price in March decreased to $310K, down from $324K the month prior. The average price of the active listings was $429K as of the end of March while the median price for the active listings was $387K during the same period.