The Beaverton real estate market finished October with 280 closed sales, which is between the 293 & 274 closed sales recorded during the prior months of August and September respectively. Of the 280 closed sales in October only 2 were distressed properties (foreclosures/short sales) representing 1% of the closed sales for the month. As of today, distressed properties accounted for 3% of the active listing inventory. There were 27 closed sales of homes valued at $500K or more during October and a total of 97 over the three month period of August – October.
The inventory level is lowest in the up to $250K price bracket at only 0.3 months and overall it is at 1.0 months worth across all price brackets based solely on the October closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture remains at 1.0 months worth across all price brackets.
The average sold price in October was $368K which is down $4K compared to the prior month of September. Meanwhile, the median sold price in October decreased to $350K, down $4K from the prior month. The average price of the active listings was $481K while the median price was $444K as of today.