The Oregon City real estate market finished March with 60 closed sales, which is up from the 43 & 52 closed sales recorded during the prior months of January and February respectively. Of the 60 closed sales in March, 2 were distressed properties (foreclosures/short sales) representing just 3% 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 2 closed sales of homes valued over $500K during March and a total of 6 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 2.4 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 slightly to 2.8 months worth across all price brackets.
The average sold price in March was $306K which is an increase of $16K, compared to $290K in February. Meanwhile, the median sold price in March was $290K, up $15K from the prior month. The average price of the active listings was $518K as of the end of March while the median price was $392K during the same period.