The Gresham real estate market finished December with 117 closed sales, which is up from the prior months of October and November respectively. Of the 117 closed sales in December, 7 were distressed properties (foreclosures/short sales) representing 6% of the closed sales for the month. As of the end of December, distressed properties accounted for 18% of the active listing inventory. There was 1 closed sale of homes valued over $500K during December and a total of 4 over the three month period of October – December.
The inventory level is lowest in the up to $250K price bracket at only 0.3 months and overall it is at 0.8 months worth across all price brackets based solely on the December closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 0.9 months worth across all price brackets.
The average sold price in December was $295K which is down $7K from prior month of November. Meanwhile, the median sold price was $293K in December, down $2K from the prior month. The average price of the active listings was $424K as of the end of December while the median price for the active listings was $412K for the prior period.