The Gresham real estate market finished August with 101 closed sales, which is down just slightly from the 102 & 103 recorded sales during the prior months of June and July respectively. Of the 101 closed sales in August, 5 were distressed properties (foreclosures/short sales) representing 5% of the closed sales for the month. As of today, distressed properties accounted for 4% of the active listing inventory. There were 4 closed sales of homes valued over $500K during August and a total of 14 over the three month period of June – August.
The inventory level is lowest in the up to $250K price bracket at 1.2 months and overall it is at 2.0 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 declines slightly to 1.9 months worth across all price brackets.
The average sold price in August was $342K which is up $18K from the prior month of July. Meanwhile, the median sold price was $330K in August, up $10K from the prior month. The average price of the active listings was $417K while the median price was $380K as of today.