The Oregon City real estate market finished October with 69 closed sales, which is down from the 111 & 89 closed sales recorded during the prior months of August and September respectively. Of the 69 closed sales in October, 2 were distressed properties (foreclosures/short sales) representing 3% of the closed sales for the month. As of today, distressed properties accounted for 4% of the active listing inventory. There were 11 closed sales of homes valued over $500K during October and a total of 37 over the three month period of August – October.
The inventory level is lowest in the $251-500K price bracket at 1.0 months and overall it is at 1.6 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 decreases to 1.2 months worth across all price brackets.
The average sold price in October was $420K which is down $7K compared to September. Meanwhile, the median sold price in October was $389K, which is down $11K from the prior month. The average price of the active listings was $615K while the median price was $490K as of today.