The Gresham real estate market finished July with 103 closed sales, which is up slightly from the 96 & 102 recorded sales during the prior months of May and June respectively. Of the 103 closed sales in July, 4 were distressed properties (foreclosures/short sales) representing 4% of the closed sales for the month. As of today, distressed properties accounted for 3% of the active listing inventory. There were 4 closed sales of homes valued over $500K during July and a total of 12 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at only 0.6 months and overall it is at 1.8 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 remains at 1.8 months worth across all price brackets.
The average sold price in July was $324K which is down $15K from the prior month of June. Meanwhile, the median sold price was $320K in July, down $10K from the prior month. The average price of the active listings was $430K while the median price was $399K as of today.