The Gresham real estate market finished June with 101 closed sales, which is up from the 78 & 96 recorded during the prior months of April and May respectively. Of the 101 closed sales in June, 5 were distressed properties (foreclosures/short sales) representing 5% of the closed sales for the month. As of today, distressed properties accounted for 2% of the active listing inventory. There was 6 closed sales of homes valued over $500K during June and a total of 9 over the three month period of April – June.
The inventory level is lowest in the up to $250K price bracket at 1.1 months and overall it is at 1.9 months worth across all price brackets based solely on the June closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 2.1 months worth across all price brackets.
The average sold price in June was $339K which is up $9K from the prior month of May. Meanwhile, the median sold price was $330K in June, up $10K from the prior month. The average price of the active listings was $420K while the median price was $396K as of today.