The Newberg real estate market finished June with 40 closed sales which is on par with the 40 & 43 closed sales in the prior months of April and May respectively. Of the 40 closed sales in June, none were distressed properties (foreclosures/short sales) representing 0% of the closed sales for the month. As of today, distressed properties accounted for 0% of the active listing inventory. There were 4 closed sales of homes valued over $500K during June and a total of 17 during the three month period of April – June.
The inventory level is lowest in the $251-500K price bracket at only 1.1 months and overall it is at 2.0 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 remains at 2.0 months worth across all price brackets.
The average sold price in June was $358K which is a decrease of $47K, compared to $405K in May. Meanwhile, the median sold price was $340K in June, the same as the prior month. The average price of the active listings was $866K while the median price was $485K as of today.