The Gresham real estate market finished September with 117 closed sales, which is up from the 103 recorded sales during the prior months of June and July respectively. Of the 117 closed sales in September, 2 were distressed properties (foreclosures/short sales) representing 2% of the closed sales for the month. As of today, distressed properties accounted for 3% of the active listing inventory. There were 7 closed sales of homes valued over $500K during September and a total of 15 over the three month period of July – September.
The inventory level is lowest in the up to $250K price bracket at 0.6 months and overall it is at 1.4 months worth across all price brackets based solely on the September closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 1.5 months worth across all price brackets.
The average sold price in September was $338K which is down $5K from the prior month of August. Meanwhile, the median sold price was $330K in August, even with the prior month. The average price of the active listings was $430K while the median price was $390K as of today.