The Milwaukie real estate market finished July with 90 closed sales, which is slightly down from the 91 & 98 closed sales during the prior months of May and June respectively. Of the 90 closed sales in July, 2 were distressed properties (foreclosures/short sales) representing 2% of the closed sales for the month. As of today, distressed properties accounted for 2% of the active listing inventory. There were 12 closed sales of homes valued over $500K during July and a total of 21 over the three month period of May – July.
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 July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture remains at 1.4 months worth across all price brackets.
The average sold price in July was $384K which is an increase of $2K, compared to $382K in June. Meanwhile, the median sold price was $350K in July which is a decrease of $17K from the prior month. The average price of the active listings was $446K while the median price was $399K as of today.