The Tualatin real estate market finished March with 41 closed sales, which is up from the 17 & 30 closed sales recorded during the prior months of January and February respectively. Of the 41 closed sales in March, 2 were distressed properties (foreclosures/short sales) representing 5% of the closed sales for the month. As of the end of March, distressed properties accounted for 22% of the active listing inventory. There were 6 closed sales of homes valued over $500K during March and a total of 13 sales over the three month period of January – March.
The inventory level is lowest in the $251-500K price bracket at only 0.7 months and overall it is 1.2 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 slightly to 1.7 months worth across all price brackets.
The average sold price in March was $376K which is up $22K, compared to $354K in February. Meanwhile, the median sold price in March increased to $380K, up from $315K the month prior. The average price of the active listings was $594K as of the end of March while the median list price was $455K during the same period.