Newberg Oregon Real Estate Market Update
The real estate market in Newberg finished December with 24 closed sales, up from 17 & 22 sales recorded during November and October respectively. There were 18 closed sales of homes valued $250K or more over the period of October – December. The inventory level is lowest in the under $250K price bracket at 7.3 months and overall it is at 10.8 months worth across all price brackets.
Average sold prices in December ($230K) increased by $10K, compared to $220K in November. Conversely, median sold prices in December remained at $208K, which was the same as November. The average price of the active listings ($402K) is way higher than the sold prices in December by $172K while the median price for the active listings ($269K) is higher by $61K over the comparable median sold prices in December. The large difference between the active listing prices and sold prices is reflected in the high level of inventory (almost 20 months worth) for homes valued over $250K in Newberg which includes a lot of acreage properties.
