The Oregon City real estate market finished July with 80 closed sales, which is between the 73 & 104 closed sales recorded during the prior months of May and June respectively. Of the 80 closed sales in July, none were distressed properties (foreclosures/short sales) representing 0% of the closed sales for the month. As of today, distressed properties accounted for 4% of the active listing inventory. There were 10 closed sales of homes valued over $500K during July and a total of 40 over the three month period of May – July.
The inventory level is lowest in the $251-500K price bracket at 1.0 months and overall it is at 1.5 months worth across all price brackets based solely on the July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases just slightly to 1.4 months worth across all price brackets.
The average sold price in July was $427K which is up $8K compared to June. Meanwhile, the median sold price in July was $415K, which is up $19K from the prior month. The average price of the active listings was $609K while the median price was $475K as of today.