Hillsboro Real Estate Market Update-March 2011
The real estate market in Hillsboro Oregon finished February with 48 closed sales, which is up slightly over the 46 closed sales recorded during January and down from the 75 closed last December. Of the 48 closed sales in February, 20 were distressed properties (foreclosures/short sales) representing 42% of the closed sales for the month.
The inventory level is lowest in the up to $250K price bracket at 9.5 months and overall it is at 10.5 months worth across all price brackets based solely on the February closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture improves to 8.9 months worth across all price brackets.
The average sold price in February was $212K which is a decrease of $14K, compared to $226K in January. Similarly, the median sold price in February decreased to $202K, down from $223K in January. The average price of the active listings in February ($239K) decreased $1K from the last reading in January while the median price for the active listings ($219K) decreased $1k as well from the prior month.
