The Sherwood real estate market finished October with 42 closed sales, which is down from the 69 & 63 closed sales recorded during the prior months of August and September respectively. Of the 42 closed sales in October, there was 1 distressed property (foreclosures/short sales) representing 2% of the closed sales for the month. As of today, distressed properties accounted for 0% of the active listing inventory. There were 5 closed sales of homes valued over $500K during October and a total of 41 sales over the three month period of August – October.
The inventory level is lowest in the $251-500K price bracket at 0.5 months and overall it is at 1.5 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 declined to 1.1 months worth across all price brackets.
The average sold price in October was $415K which is a decrease of $20K from the $435K recorded in the prior month of September. Meanwhile, the median sold price in October decreased to $386K, down $28K from the month prior. The average price of the active listings was $948K while the median price was at $637K as of today.