The Hillsboro real estate market finished May with 148 closed sales, which is up from the 130 & 132 closed sales recorded in the prior months of March and April respectively. Of the 148 closed sales in May, 11 were distressed properties (foreclosures/short sales) representing 7% of the closed sales for the month. As of the end of May, distressed properties accounted for 21% of the active listing inventory. There were 6 closed sales of homes valued at $500K or more during May and a total of 15 over the three month period of March – May.
The inventory level is lowest in the $251-500K price bracket at 0.9 months and overall it is at 1.3 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 increases slightly to 1.4 months worth across all price brackets.
The average sold price in May was $303K which is up $23K from the $280K recorded the prior month. The median sold price in May was $285K which is up $27K from the prior month. The average price of the active listings was $417K as of the end of May while the median price for the active listings was $342K during the same period.