The Beaverton real estate market finished May with 316 closed sales, which is between the 313 & 343 closed sales recorded during the prior months of March and April respectively. Of the 316 closed sales in May, 27 were distressed properties (foreclosures/short sales) representing 9% of the closed sales for the month. As of the end of May, distressed properties accounted for 19% of the active listing inventory. There were 19 closed sales of homes valued at $500K or more during May and a total of 41 over the three month period of March – May.
The inventory level is lowest in the $251-500K price bracket at only 0.9 months and overall it is at 1.2 months worth across all price brackets based solely on the May closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture remains at 1.2 months worth across all price brackets.
The average sold price in May was $313K which is up $20K compared to the prior month of April. Meanwhile, the median sold price in May increased to $290K, up $10K from the prior month. The average price of the active listings was $347K at of the end of May while the median price for the active listings was $286K during the same period.