The Gresham real estate market finished April with 91 closed sales, which is between the 61 & 98 closed sales for the prior months of February and March respectively. Of the 91 closed sales in April, 19 were distressed properties (foreclosures/short sales) representing 21% of the closed sales for the month. As of the end of April, distressed properties accounted for 25% of the active listing inventory. There were 3 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 1.4 months and overall it is at 2.0 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 to 2.2 months worth across all price brackets.
The average sold price in April was $253K which is up $6K from prior month of March. Meanwhile, the median sold price was $238K in April, up $5K from the prior month. The average price of the active listings was $317K as of the end of April while the median price for the active listings was $282K for the prior period.