The Oregon City real estate market finished August with 111 closed sales, which is up from the 104 & 80 closed sales recorded during the prior months of June and July respectively. Of the 111 closed sales in August, 1 was a distressed property (foreclosures/short sales) representing 1% of the closed sales for the month. As of today, distressed properties accounted for 4% of the active listing inventory. There were 11 closed sales of homes valued over $500K during August and a total of 40 over the three month period of June – August.
The inventory level is lowest in the $251-500K price bracket at 0.9 months and overall it is at 1.3 months worth across all price brackets based solely on the August closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases just slightly to 1.4 months worth across all price brackets.
The average sold price in August was $404K which is down $23K compared to July. Meanwhile, the median sold price in August was $395K, which is down $20K from the prior month. The average price of the active listings was $599K while the median price was $475K as of today.