The Milwaukie real estate market finished June with 96 closed sales, which is up from the 65 & 91 closed sales during the prior months of April and May respectively. Of the 96 closed sales in June, 3 were distressed properties (foreclosures/short sales) representing 3% of the closed sales for the month. As of today, distressed properties accounted for 2% of the active listing inventory. There were 5 closed sales of homes valued over $500K during June and a total of 15 over the three month period of April – June.
The inventory level is lowest in the up to $250K price bracket at 0.5 months and overall it is at 1.4 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 rises slightly to 1.5 months worth across all price brackets.
The average sold price in June was $386K which is an increase of $37K, compared to $349K in May. Meanwhile, the median sold price was $370K in June which is an increase of $21K from the prior month. The average price of the active listings was $438K while the median price was $390K as of today.