Hillsboro Oregon Real Estate Market Update-February 2011
The real estate market in Hillsboro Oregon finished January with 45 closed sales, which is down from 75 & 58 closed sales recorded during last December and November respectively. Of the 45 closed sales in January, 17 were distressed properties (foreclosures/short sales) representing 38% of the closed sales for the month.
The inventory level is lowest in the up to $250K price bracket at 9.9 months and overall it is at 11.3 months worth across all price brackets based solely on the January closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture improves to 8.6 months worth across all price brackets.
The average sold price in January was $225K which is a decrease of $7K, compared to $232K in December. Meanwhile, the median sold price in January increased to $222K, up from $210K in December. The average price of the active listings ($294K) is substantially higher than the average sold prices in January by $69K due to a handful of listings in the higher end of the market. The median price for the active listings is $220K which is slightly lower than the comparable median sold price in January.
