The Milwaukie real estate market finished September with 85 closed sales, which is down from the 90 & 103 closed sales during the prior months of July and August respectively. Of the 85 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 4% of the active listing inventory. There were 9 closed sales of homes valued over $500K during September and a total of 28 over the three month period of July – September.
The inventory level is lowest in the $251-500K price bracket at 1.0 months and overall it is at 1.2 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 decreases just slightly to 1.1 months worth across all price brackets.
The average sold price in September was $373K which is a decrease of $4K, compared to $377K in August. Meanwhile, the median sold price was $353K in September which is a decrease of $22K from the prior month. The average price of the active listings was $476K while the median price was $439K as of today.