The Oregon City real estate market finished April with 78 closed sales, which is up from the 52 & 61 closed sales recorded during the prior months of February and March respectively. Of the 78 closed sales in April, 4 were distressed properties (foreclosures/short sales) representing just 5% of the closed sales for the month. As of the end of April, distressed properties accounted for 16% of the active listing inventory. There were 4 closed sales of homes valued over $500K during April and a total of 7 over the three month period of February – April.
The inventory level is lowest in the up to $250K price bracket at 1.6 months and overall it is at 2.1 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 slightly to 2.6 months worth across all price brackets.
The average sold price in April was $324K which is an increase of $17K, compared to $307K in March. Meanwhile, the median sold price in April was $313K, up $23K from the prior month. The average price of the active listings was $543K as of the end of April while the median price was $382K during the same period.