Hillsboro Real Estate Market Update – May 2011
The real estate market in Hillsboro Oregon finished April with 73 closed sales, which is between the 93 and 48 closed sales recorded during March and February respectively. Of the 73 closed sales in April, 36 were distressed properties (foreclosures/short sales) representing 49% of the closed sales for the month. As of the end of April, distressed properties accounted for 37% of the active listing inventory.
The inventory level is lowest in the up to $250K price bracket at 5.9 months and overall it is at 6.6 months worth across all price brackets based solely on the April closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture is about the same at 6.7 months worth across all price brackets.
The average sold price in April was $211K which is an increase of $11K, compared to $200K in March. Similarly, the median sold price in April increased to $201K, up from $178K in March. The average price of the active listings was $297K as of the end of April while the median price for the active listings was $220K during the same period.
