The Sherwood real estate market finished April with 46 closed sales, which is up from the 29 & 42 closed sales recorded during the prior months of February and March respectively. Of the 46 closed sales in April, 6 were distressed properties (foreclosures/short sales) representing 13% of the closed sales for the month. As of the end of April, distressed properties accounted for 15% of the active listing inventory. There were 6 closed sale of homes valued over $500K during April and a total of 13 sales over the three month period of February – April.
The inventory level is lowest in the up to $250K price bracket at 1.1 months and overall it is at 1.9 months worth across all price brackets based solely on the April closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases just slightly to 2.2 months worth across all price brackets.
The average sold price in April was $364K which is an increase from the $341K recorded in the prior month of March. Meanwhile, the median sold price in April increased to $330K, up $40K from the month prior. The average price of the active listings was $853K as of the end of April while the median price for the active listings was at $521K at the same point.